490 [Assembly 



necessary to the subsistence of their population, as in Great Britain, 

 than it is in nations producing a surplus for market, as in the United 

 States. The absolute want of food is the greatest calamity that can 

 fall upon a people; even a panic fear of famine, where there is no 

 danger, gives rise to the most villainous speculations, and creates the 

 greatest distress and suffering among the poor. 



On the other hand, a surplus of food beyond the demands of the 

 market, may create a loss, but no real distress ; the agriculturists fail 

 to realize the entire amount of their anticipated profits, but the loss 

 falls upon those who have enough and to spare. 



The United States produce, and will probably long continue to pro- 

 duce, a surplus beyond any demands that can be made upon them. 

 But let it be remembered that this may not always be so. In the years 

 1835—6 and 7, we imported wheat and flour for domestic consump- 

 tion. In 1837 we imported flour to the amount of $122,675, and 

 wheat to the amount of ^4,154,000. The necessity for those impor- 

 tations had a most injurious 'eflfect upon the industry and prosperity of 

 our country. 



The next duty imposed, upon this Institute is to promote and en- 

 courage industry engaged in domestic commerce, or, in the language 

 of the constitution, commerce among the States; a commerce which 

 has not received the attention its importance merits. 



This was a favorite subject with my predecessor. General Tall- 

 madge, who embraced every favorable opportunity of bringing it 

 before the Institute and the public, urging its great importance with 

 convincing arguments, documents and statistics, as many here present 

 must recollect. 



Foreign commerce has always been deemed of paramount im- 

 portance. Indeed, without it we cannot be a great nation. This 

 has been a primary object with our most eminent statesmen and le- 

 gislators, from the commencement. of our government; and such has 

 been our success that our vessels float upon every ocean and in every 

 clime, carrying the products of our industry to the most distant re- 

 gions, and bringing us in return the most precious products of for- 

 eign countries. For this the Congress of the United States have 

 appropriated millions of dollars in improvements on our harbors, 

 bays and coas's; for this, in part, we support our navy; for this we 

 maintain a diplomatic corps at foreign courts, and for this we incur 

 the enormous expenses of foreign wars; and by this commerce we 



