20 Mar 1840
Page 1
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Newspaper
Georgetown American
Location
Georgetown, South Carolina, United States of America
Date
Mar 20, 1840
Page
1
Notice shows THOMAS L. SHAW auctioneer taking over the front portion of the store once occupied by Mr. Robert Cooper opposite the Régé M. H. Lance on Bay street and dedicating himself to vendue and commission business starting February 1823.
In a Senate speech dated February 5 1540 Calhoun explains the 1828 tariff worsened imports and boosted gold and silver in the south failing to protect manufactures. He cites Campbell White 1832 report and 1829 1830 data showing a large rise in specie and bank note circulation in Massachusetts Rhode Island New York and Pennsylvania and argues it harmed debtors and increased distress.
The text argues that protective tariffs expanded bank circulation in major manufacturing states from 38 to 56.5 million dollars over two years, with Rhode Island showing the strongest growth. It claims the tariff-driven expansion risks currency inflation and eventual economic explosion, urging lower duties to boost exports and open markets for agricultural staples.
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