Mr. Hayne, of South Carolina, said: "But how, I would seriously ask, is it possible for the home market to supply the place of the foreign market, for our cotton? We supply Great Britain with the raw material, out of which she furnishes the Continent of Europe, nay, the whole world, with cotton goods. Now, suppose our manufactories could make every yard of cloth we consume, that would furnish a home market for no more than 20,000,000 lbs. out of the 180,000,000 lbs. of cotton now shipped to Great Britain; leaving on our hands 160,000,000 lbs., equal to two-thirds of our whole produce. . . . . Considering this scheme of promoting certain employments, at the expense of others, as unequal, oppressive, and unjust--viewing prohibition as the _means_, and the destruction of all foreign commerce as the _end_ of this policy--I take this occasion to declare, that we shall feel ourselves, justified in embracing the very first opportunity of repealing all such laws as may be passed for the promotion of these objects."
Mr. Carter, of South Carolina, said: "Another danger to which the present measure would expose this country, and one in which the Southern States have a deep and vital interest, would be the risk we incur, by this system of exclusion, of driving Great Britain to countervailing measures, and inducing all other countries, with whom the United States have any considerable trading connections, to resort to measures of retaliation. There are countries possessing vast capacities for the production of rice, of cotton, and of tobacco, to which England might resort to supply herself. She might apply herself to Brazil, Bengal, and Egypt, for her cotton; to South America, as well as to her colonies, for her tobacco; and to China and Turkey for her rice."
Mr. Govan, of South Carolina, said: "The effect of this measure on the cotton, rice, and tobacco-growing States, will be pernicious in the extreme:--it will exclude them from those markets where they depended almost entirely for a sale of those articles, and force Great Britain to encourage the cottons, (Brazil, Rio Janeiro, and Buenos Ayres,) which, in a short time, can be brought in competition with us. Nothing but the consumption of British goods in this country, received in exchange, can support a command of the cotton market to the Southern planter. It is one thing very certain, she will not come here with her gold and silver to trade with us. And should Great Britain, pursuing the principles of her reciprocal duty act, of last June, lay three or four cents on our cotton, where would, I ask, be our surplus of cotton? It is well known that the United States can not manufacture one-fourth of the cotton that is in it; and should we, by our imprudent legislative enactments, in pursuing to such an extent this restrictive system, force Great Britain to shut her ports against us, it will paralyze the whole trade of the Southern country. This export trade, which composes five-sixths of the export trade of the United States, will be swept entirely from the ocean, and leave but a melancholy wreck behind."
