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Updated: July 29, 2025
Some days ago, I believe it was when we were settling the controversy between the oil-merchants and the tallow-chandlers, the balance of trade made its appearance in debate, and I must confess, Sir, that I spoke of it, or rather spoke to it, somewhat freely and irreverently.
"All their best-thought-of and most popular writers, my dear, are unanimous upon the point; and their Seranim have passed any number of laws, their oil-merchants have founded a guild, especially to prosecute such references.
In the discussion, the other day, of that provision of the bill which proposes to tax tallow for the benefit of the oil-merchants and whalemen, we had the pleasure of hearing eloquent eulogiums upon that portion of our shipping employed in the whale-fishery, and strong statements of its importance to the public interest.
But the same bill proposes a severe tax upon that interest, for the benefit of the iron-manufacturer and the hemp-grower. So that the tallow-chandlers and soapboilers are sacrificed to the oil-merchants, in order that these again may contribute to the manufacturers of iron and the growers of hemp. If such be the state of our commerce and navigation, what is the condition of our home manufactures?
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