"I am reminded that I was guilty on a certain occasion of stating in an
article--not a political article--that, in my opinion, it was far from
improbable that as the volume of the future was unrolled, America, with
its vast population and its wonderful resources, and not less with that
severe education which, from the high price of labor, America is
receiving in the strong necessity of resorting to every description of
labor-saving contrivances, and consequent development, not only on a
large scale, but down to the smallest scale of mechanical genius of the
country--on that account the day may come when that country may claim to
possess the commercial primacy of the world, I gave sad offence to many.
I at present will say this, that as long as America adheres to the
protective system your commercial primacy is secure. Nothing in the
world can wrest it from you while America continues to fetter her own
strong hands and arms, and with these fettered arms is content to
compete with you, who are free, in neutral markets. And as long as
America follows the doctrine of protection, or the doctrines now known
as those of 'fair trade,' you are perfectly safe, and you need not
allow, any of you, even your slightest slumbers to be disturbed by the
fear that America will take from you your commercial primacy.
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