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Page 237 of Life and speeches of Henry Clay (vol. 1)

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ON AMERICAN INDUSTRY. and twenty-one millions five hundred thousand, the actual taxes paid by a British subject are only about three and seven pence sterling. Estimating our own taxes, on a similar scale,-that is, supposing both descriptions of labor to be equal to that of twenty millions of able-bodied persons-the amount of tax paid by each soul in the United States is four shillings and six pence sterling. The committee will observe, from that table, that the measure of the wealth of a nation is indicated by the measure of its protection of its industry; and that the measure of the poverty of a nation is marked by that of the degree in which it neglects and abandons the care of its own industry, leaving it exposed to the action of foreign powers. Great Britain protects mott her industry, and the wealth of Great Britain is consequently the greatest. France is next in the degree of protection, and France is next in the order of wealth. Spain most neglects the duty of protecting the industry of her sub- jects, and Spain is one of the poorest of European nations. Unfor- tunate Ireland, disinherited, or rendered, in her industry, subservient to England, is exactly in the same state of poverty with Spain, meas- ured by the rule of taxation. And the United States are still poorer than either. The views of British prosperity,--which I have endeavored to pre- sent, show that her protecting policy is adapted alike to a state of war and of peace. Self-poised, resting upon her own internal resour- ces, possessing a home market, carefully cherished and guarded, she is ever prepared for any emergency. We have seen her coming out of a war of incalculable exertion, and of great duration, with her power unbroken, her means undiminished. We have seen that al- most every revolving year of peace has brought along with it an in- crease of her manufactures, of her commerce, and, consequently, of her navigation. We have seen that, constructing her prosperity upon the solid foundation of her own protecting policy, it is unaffected by the vicissitudes of other states. What is our own condition De- pending upon the state of foreign powers-confiding exclusively in a foreign, to the culpable neglect of a domestic policy-our interests are affected by all their movements. Their wars, their misfortunes, are the only source of our prosperity. In their peace, and our peace, we behold our condition the reverse of that of Great Britain-and .all our interests stationary or declining. Peace brings to us none of 55 237

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