Thomas Cooper to MVB, [c19 July 1825?]
I enclose you two papers, one respecting the interference of the Clergy with the duties of the legislature, which I mentd. to you, & the other, to paralyse the report of Mr Jefferson being a Tariff-politician & in favour of protecting duties.
In theory, and in justice, all duties for protection, are in my mind utterly indefensible: for they are taxes on the consumers without any <unclear word> but in promises—a waste of capital without any adequate return—and an undue fostering of imprudent industry at the expence of those who have been wiser. But where there is a great
amt amount of capital, extensively embarked, on the faith of existing Laws, as in Great Britain, Government is bound to retrace its steps with great caution & very gradually. I do not think the amount of capital embarked in manufacturing with us, requires any great exertion on the subject, more especially as the establishments are of very late date, & set up in defiance of known hostility to the System. When you have perused these, pray return them. I have wanted to see you today, to know your notions for Governor. I am with great truth
Your friend & humble Servant