i66 Early History of American Auctions 



reduced the ad valorem tariff duties in the United States, to the 

 advantage of the British manufacturer and the American 

 auctioneer.^ As a consequence auctioneers increased in number, 

 wealth and influence in all the commercial cities. A course of 

 trade which had thus been begun partly from temporary causes 

 was found by experience to insure the British a very decided 

 advantage in the competition with the American importer. 



THE MENACE OF PEACE. 



The Embargo of 1807, the Non-Intercourse Act of 1809. the 

 higher tariff duties, and the restrictions on trade during the War 

 of 1 81 2 had caused a mushroom growth of manufactures of 

 cottons, woolens, iron, glass, pottery, and other articles. The 

 continuance of these war-born industries after 181 5 depended 

 largely upon the maintenance and extension of protection.^" A 

 very distinct feeling had arisen in favor of manufactures and 

 Congress made clear concessions in the tariff act of 1816 to pro- 

 tect textiles and other needy lines ; this was in addition to the 

 high level of duties for strictly fiscal purposes. Despite this 

 measure the importations of British manufactures during 1816 

 and 1 81 7 were excessively large. Exporting speculators and 

 manufacturers found good markets in the United States until the 

 fall of 1817 and thereafter found this the least costly mart in which 

 to sacrifice their glut of wares. Not only did the sales net them 

 more but sacrifices in America tended also to work an ultimate 

 benefit ; for, as Lord Brougham said, "it is well worth while 

 to incur a loss upon the first exportation in order, by the glut, 

 to stifle in the cradle those rising manufactures in the United 

 States which had forced into existence, contrary to the natural 

 course of things. "^^ It was the common talk of the day that 

 the British manufacturers were making a concerted, open and 

 studied effort to defeat our rising manufactures by buying out 

 and suppressing inventions and makers of machinery, by buying 

 up our sheep, by dumping their manufactures on our market 



"Annals of Congress, 15th Congress, ist session, p. 50. 



"Taussig, Tariff History of the U. S., 16-8. 



"Hansard, Parliamentary Debates, ist Series, XXXHI, 1099. 



