Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-02-28
IN SENATE.
SPEECH OF MIR. SMITH, OF MARYLAND,

SPEECH OF MIR. SMITH, OF MARYLAND,
ON TIE TARIFF.
make no apology, Mr.. President, for approach
ing age. Ii will, however, admonish me, TO take up
as little of the Time of the Senate the important
subject under consideration will admit
We have arrived at u crisis. Yes, Mr.. President
at crisis more appalling than day of battle. adj
Jure the Committee on Manufactures TO pausc,-to
reflect on the dissatisfaction Of all the South. Soul,
Carolina has expressed itself strongly against the Ia
riff of 1S2S-strongcr than the other States are will
hing to speak. But, Sir, the whole of the South feel
deeplylhc oppression of that Tariff In this respect
there is no difference of opinion. The South, the
whole Southern States,-all consider il ms oppressive
They have not yet spoken, but when they do speak
IT will he with voice that will not impIorc, but will
demand redress. How much better then, to grant
redress? How much better, that the Committee on
Manufactures heal the wound which has been i'll
fctcd. want nothing that shall inlurc the manulc-
turer. / only want Justice.
am, Mr.. President, of the few survivors of
those who fought in the war of the revolution. We
then thought we fought for libcrty-for equal rights
We fought against taxation, the proceeds of which
were for tho benefit of othcrS.-Whcre is the tliflc-
renee? If the people to he taxed by tho manu-
tact,rcrs or by any others. | say manufacturers
And why do ] say so? When this Senate met there
was strong disposition with all parties 10 amcoratc
the Tariff of 1923 but j now n change which
makes me almost despair of any thing eiectua be-
ing accomplished. Even the small concessions
made by the Senator from kentucky, Mr. Clay
have been reprobatcd by the lobby members the
agents of the manufacturers. | am told they have
put their fiat on any change whatever, and hence, as
consequence, the change in the course and Ian
guage OF gentlemen, which almost prccludcs all
hope Those interested men hang on the Commit
fee OF Manufactures like incubus. ] say to that
Committee, depend upon your own good judgments
survey the whole subject northumberland
sectional interests and study only the common veal
act with these views. and thus relieve the onnrcs-
sions of the South
have ever, Mr. President supported the interest
Of Manufactures far as it could be done incidental
~ supported The late Mr.. Lowndes' bill of 1876.
was member of his Committee and that bill protect
ed the Manufactures sufficiently, except Bar Iron Mr.
Lowndcs had reported SIS per ton. The House re-
duced tito 80 per ton. That act enabled the Manu-
1actlrcrs TO exclude mporatons of certain articles
The iaers carry their business by their sons and
apprentices and few if any, hats are now imported
Large quantities exported and preferred. All ar
icles of leather, from tho tanned side to the finest
harness or saddle, have been excluded from inpor-
taton; and why? because the business is conducted
10y their own hard hands, their own labor and they
are now heavily taxed by the Tariff of 1898 TO en-
able the rich to enter into the manufactures of the
country. Yes, Sir, say the rich, who entered into
the business after the act of 1894 which proved to
be n mushroom affair, and many of them suffered
severely. The act of 1916, / repeat, gave all the
protection that was necessary proper under
which the industrious and frugal completely sue
ceeded. But, Sir, the capitalist, who had invested
his capital III manufactures, not to be satisfied
with ordinary profit and therefore the act of 1923
The Senator from Kentucky (NIr. Clay says, that
n progressive decrease of duties is slow poson
and yet that Senator swallowed the poison i'm the oct
of lol6, in the article of cotton, and have never
heard that it has done him much injury. He has
also swallowed the poison in the act of 1924 where
the duties arc progressive, raising them annually
Are they 10 he understood to be less poisonous bv
progressive increase, than progressive decreased
The South considers the progressive increase as the
most delctcrlous. The handicraft -man-thc black
smlth--the whltc-smh-thc workers of thc bar
ron all cruelty oppressed by the heavy dutv on
rtIpl a..
cral cheap it is received by the British work
men, and they will ask for no protection: they will
depend on their own hands, and by those of their
sons and apprentices. They are not hcartl-Whv?
Ihey are not rIch:-thcy must he sacrificed to the
rich ronmaster, whose business is more profitable
than that of any other in the Union. i forbear 20
ing further into this subject this time reserve
my further remarks until the subject shall be pre-
scented in tangible shape; i'm BILL when trust /
shall he able TO shcw that the act of 1898 is highly
injurious 10 the interest of the manufacturer If
you intend that this country shall he a manufacture
ing country, you must give the manufacturers the
raw material, las England does,) free of duty, or
with very light duty. While you tax them high as
you do with imports on hemp, wool, flax and bar
iron, you afford them efficient protection by your
minimum and excessive duties.
rose, Mr. President, principally with intention
Of following the Senator (Mr. Claw i'm the view ia
ken by him. in relation to the financial operations of
the government, since the adoption of the Constu-
ton. IL Is necessary TO take this extensive review
Ill Orucr 10 n iuH understanding of this important
matter In it, shall probably he obliged to differ
somewhat from him, points, which have UNI
Intentionally escaped his observation but which arc
nevertheless, very material to the subject under CON
slderauon and will endcavor to shew, that lac has
thrown unmcred ccnsure on tire Secretary of the
Treasury, arising, must presume, from the fact,
that the existence Of The act of Congress of The 9th
April, 1880, was entirely unknown to him Mr.. Claw
Before arrive at that part Of my argument deem
Unnecessary to go back, and trace the public debt
from tire establishment of n Funding system. i'm
which review hope the Senate viii indulge inc.
In the year I700 the Funding system was creatcd
II authorised stock 10 be delivered to each cred-
tor of the government to the amount Of the debt due
to him, two-thirds thereof bearing interest of per
cent. from certain date, and Onc-third remaining
free from interest until ten years thereafter com.
monty called the deferred debt. IL also authorised
stock to he issued for tie amount of interest due ia
each creditor, on on interest of per cent which
stock was not 10 he redeemed ut any price less than
the par value thereof. For the payment of these
several species OF stock the public domain and the
balance in the Treasury arising from duties ON inn.
ports and tonnage, latter l@ying tie expenses Of 90