The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1840-03-07

,art aeainst il; anil I remember, after its
passage. that he c"lsolrd himself with the
belief that though oppressive, 1t would ne
the last. His expcctati III proved as vain
As mine in rs. Before two years had pas
srd, we were agatn bcsieged with the cry
# The inarquacy Of the projections; and
in the summer of ls27. large convention
of manufacturers from al parts was held
At Harrisburg, in Pennsylvania. to devise
a new and more ample scheme of pr"tec.
ton to be laid before Congress at the next
session. That movement ended in the "a
dop,ion of the tariff of 1923 which, in or
der TO make sure wnrk, went far beyond
all lis prrdcc,. .ssorS in the Increase of duty
The duties were raised on the leading anti
clps of consumption from forty to fifty
pcr cent. abuvc former duties, as high as
they were. speak cnnjerturally, with
oul any ccrlain daL,. liz less tran three
wears, even tAat enormous rise proved to
be- insufficient, as shall presently show,
and would have certainly been followed
by new demands for protection, had not
the small. bat gallant Sta'c | represent.
a'resLe It's pr z esH 10 thdtls n'i slr'ng
enough brought the system TO the groun l.,
against the resistance Of The administration
and ppositon-never, | trust, to rise a.
gain.
The fac, disclosed BY this brief iiistori-
cal sketch is, that there is IA constant ten
ency to increase il, the pr tective system
that every increas" Of duty, how"' er high,
requires pcrindcally, after short inter
val, an additional increase. This. as
have stated. is not incidental, bat ii is the
resu. If causes Inherent in the system IT.
self, in tn" present condition Of oar co"n-
try. Ii originates in ths fact that every
increase Of protection is necessarily toll
lowed by an expansion of the currency,
which expansion must continue 10 enlarge
till the increased price Of production in
shall become equal to the in
creased rntv, aud when the imp rtdtinn of
the articles pr,nibit"d may again take
place with profit. That is the principle;
aud it is essential t. the peace AMI pros
peritv Of the country, that it should he
rlcarly understood, intend to establish its
truth bcyoni r'oaht or cavil; AMI fnr that
purpose, stall b"gln witt the Tariff Of
1898, the last and by far the bnliest OF the
series, with the view nt illustrating, in its
ease, the operation ut the principle. en-
treat the Scuatr to give me its fixed atten-
ton. The principle well understood will
she'd fond of light on the past and pres
enl difficulties # he cnuatry, and guide
T.,trt
t. i've a clear conception Of tho ofe-
ratl"n Of the tariff of 1923, il VIII BE- &C.
,csSary To premise that it comprchcnded
all the leading articles Of consumption
ha, cnul he manufactured in our cuun.
nv; amounting in value to not mich less
han one hall OF the whole Of the imports;
hat the duties on these articles were IN
creased enormously. as has beon stated
say not less than forty "r fifty per cent;
hat the average domestic exports at the
ime was not much short Of sixty millions
# dollars, and the imports + IF consump-
i about he same: that the revenue from
he imports was about half that sum; and
hat OF tho exports, about threc-fourths
consisted of the great agricultural staples
# the South. What, then, with these
acts, must have been its necessary opera
ions on the currency of the manufacture
ng States! We export to import. Ii is
impossible to continue to export for any
considerable length Of time, without cor
responding return oil imports. 1t would
,e to give away our labor for nothing
Dur exports, then, continuing at an aver
.ge of sixty millions, in what, under the
operation of the tariff Of 1928, must he the
imports to the same amount
n return! Not, certainly 10 the same ex-
ent as before its passage, in the articles
IN which it had SO greatly increased the
luties! It's object il raising them, was to
rive our manufactures home market, by
'xcludiAg the foreign articles of the same
description. Ii it failed in that, it failed
n accom- .,lishing any good whatever, and
became all unmixed evil, without benefit 10
any one. The return, then. of imports,
must have been principally in articles
on which the duties were not raised,
IS far as the consumption Of the cnun-
.ry would warrant, and the balance, after
paying what was due abraod, in gold and
silver. The first effect, then, must have
been to turn the foreign exchange in our