The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1842-05-12

Acin1l 1mouat q lnpnfts Has lessfneds
bat the sug0fnlstl.n rf ne duis more
than eompsnsa,sd Tor sIs diminusion. snd
ne reeeisrd more Eesfnue Than = hen ahe
dsiits seFs Iowsr. Ia these points, thsn,
our predictions wfIr fully verified. Ard
haW %. I vilh regard 70 prcesg Did
the Ansfiesn consumer pay more Cor
the ohjecis If his eonspmpliDhl With
ouI entering into detail. (iur which there
Is NO. iirns. assert. ia general. sh.i 10
every single iastsnee in Which spliirient
pra'eeiion uss sGoreed. the price. inslssd
Of beng sugmrnisd. uss actually n dared.
do not recollecs q single exception.
The European monopoly 81 supply Was
broken dour. and iheir fabrics had 10 en-
counter in our markets the campstilion
arising from The skill and industry of
Amenean msnufseluseIsi
VEL: bot 10 has been asked. Il any IT.
crease ~ duty produces . Elimination 81
prize. Why do Inc manufactures ask for
an increase n dalesl will saswer the
question. The sngmenIed day j. lhrawn
ON The foreign prodne.r. by Increasing
the duly you ccmIel him 10 submit 20 a.
feduciian 81 price equ.l or nearly equsl
20 The dsiy; hot % such reduction they
cannot sabmil boz from nrcessii,. A IL
minishsd importation ensue.. and a va
csnm heins Tits created IN lie inarkci,
IL is filled by The rival febrirs Of the
American manufacturer. who ~ his turn
finds bis compensation fnr lie reduced
price in his quiet possessinn of a greater
lporlion Il The American maFkes. and 10
the steadIness ri that ma.k,t.
J There is the whole lhrofy OF The ms'-
ter. There is no mist.ry. no incousls-
teney: The case i perfectly clear: and
,facis prove il 10 be Just as we told you
in 1924 int il Sould be.
| know no wiser cnur.e Tor stsiesmgn
ihsn 10 rerur 10 history. and theure e.
draw his lessors as 10 future policy l
wish had time 10 trace the course OF
this mailer from the days of The Reyo-
luton 10 The present hour: | could sh"w
lhas. 10 every period of oar history when
conmerce and manufacturers have been
neglected. or left TO the anirisndly opera
uon Of foreign leRlslsunn and lursign ie-
Ieula,ions, national distress aud embarsss.
tmeni have uniformly Ellswed---lheEe has
lever been drain of specie and a heavy
foreign debt. But | ain warned by the
lapse Of time that this will moi noe be
lprlclieable. Let me call The attention
OF lbc Senate only 10 few fic,s, which
marked period remarkably Ike the pre-
seni: | refer 10 that between 1916 and
1919. The country was then il00ded
With foreign Imports: duties were low :
and precisely similar general embarrass-
men, was experienced 20 that Which We
now feel. Let me call your recollection
10 some Of Tie facts. as they are well set
forth in memorial presented recently 10
Congress iron Cincinnati:
Your memorialisis End in statistical
represen,afons made by the cities Of Phi
ladelphia and Pittsburgh IN 1919, the fol-
lowing iacls:
/. That from 1916 to 1919, the num-
Der u hands employed IN the mannfaciur
ing and mechsnlcal branches Of business
in Philadelphia diminished from 9,672 10
2.l37, or less than one fourth. That the
number Of persons directly and indirectly
thrown oul Of employmen, in tiIsirist u
lnrly miles diameter were twenty thou.
sand.
2. That in Pittsburgh. in the same pc
Rod. the number If hands employed we're
reduced from 1860 10 GU, and the ma
nufaciured product was reduced IN The
same proportion.
3. That this reduction extended not
merely to the large manufacturing es.sb
lishmenls, but 10 the snlalts ST mechanical
employments--,he important dunes ic
business Of the shoemaker and tailor be-
ing reduced in almost the same proper
ton.
Al the same time that The manufacture
ing establishments were thus laid IN ruins.
a memorial sent 10 Congress states that
agriculture was equally depressed. lis
language was;" We look in vain through.
out the world Tor market. Agricultural
produce has no value but al hume. and
The drain OF gold and'sll,er has shaken the
weal,hiesl Banks III The UDion." lima
ny places Of the Interior agricultural pro-
duce was entirely unseslahle. The rate
Of duties under which this widespread
disaster was produced was 20 per cent. on
iron and glass aud % per cent. gu hue
collans aud wofeas; higher average
than that (viz. 20 pei cen. 10 WHICH, by
existing laws. the entire tariff ol duties
must. in lew months. be reduced.
By the tariff Of 1924 and 1928, the du-
Ties we're raised 10 an average Of double
tina. amount. The consequences are
within the observation oil the " hole peO-
pie. Manufacturing industry became s'a
BILE, new branches were developed. TaeI
balance Of trade became more favorable,
and The county Tor a series Of ears coG-
linued IN slate Vi uninterrupted prosper
Ivy.
No portion Of the industry or properly
Of the nation was more benefited by the