Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-04-21
Firm He Richm11id Hug.
TIE TARiFT-TilE tRRE\C}

F,.a he Riclaond lug.
TIE TARlFF-TIIE CURRENCY
rs evident that the prlNnac Of all the denngc
mont eteur cuErcncy-s tie disasters IN mercantile
nnmuuiiifSall The deYloss:pn ia ar scTeral bmrehe-
81 Domestic uduSlB-t'e humiliation a State pI.de,
anil the degradation Of crcdit-is 10 BE- found n
the excessive mp riation oI foreign euas and an nu
diciuIs al iur,ign credit during tie last ton years
we have contracted unpaid debt OF @o millions viii
Europe. aud that alter dealing ont with her IN the
time, the whole amount 81 our surplus fnductcus. aud
keeping down tie accumulation of The debt by heavy
shipments Of specie. The result Of the op, ration tsia
ling though ii bt) should bc priclsme1 throughout the
land. 1t IL, that the Mbeo amount Il sleoc in Tie
ncd States, estimated very fully at mol largely over tie
facD at one hundred millions. would ny Lot .ue -
our ureign d,hl; aud the H. ... #sz#f .,
every month Is SIS elHH4 IL, already as,ltl .##=##
Triwcen our liabilities, and our present available tas
is II wonderful that under such OF things our mo
notary affairs should be In cunision banks in a STATE
dsuslcnslon. our people gruanlng under heavy TAXATION
and tie cred, q our States ably word among the bank
ors OF Europe! The total amount ei inspirations from
The och Sept, 1880 10 3uh Sept 1870 is
stated at $500. III
And the total experts during the same
period al 1901 -. qli
Being an oNccs of imports in 10 years
OF 90S, sos. 50a
And strange TO say Notwithstanding The severe ,mbar
EASEMENTS Of the last year and contrary tho an lcipa
tons OF the whole country. the returns sll rvs an add
uonal excess OF mpra,ons 10 the 30ih September last
OF &3,oDo,eNl, while we dcllulters Tor unpaid in
'eios', ACQUIRING during the year. OF probably 5000 900
more
Now careful apaly sis of the items comprising The
lnporations OF the I'D years stated above. shows that OF
the 1900 millions imported. 2jJ millions is composed of
articles which we have the unquestloned capacity Ia
produce and manufacture home 10 that whole amount:
and lfo millions more OF articles which produce
PARTIALLY the domestic supply of Which capable Il IN
crease though not perhaps To equal lie home demand
Ii Is fact worthy Of especial note. that during the :
years of the Tariff era, FINN 1924 In s33, the excess,
flour imports was only 80. lsl 900 $6,jGO0O PER
annum while IL increased during the neat years. under
the operation of the Compromise Act, To $li2,7iu.Ouu
or vi ,3h.Oo per annuni. Can there be any comment
necessary on tact 50 clearly indicating at once the
cause and remedy ofa sl II Is passing strange
that while an analogous condition Of any man private
ualfs would suggest 10 him, iorchy. the Tor
aud the means OF, reformation. he should for moment
tai Ia perceive, refuse 10 admit that the nation
al III requires the same remedy. What sensible nan
finding himself embarrassed, and discovering that his
expenditures largely exceeded his income would not
once trace his embarrassment tina, canscl and wha
prudent man would not at once apply the simple
dy OF reducing his expenditures his income order
arrest the cyl And how differs ii with naonl Shal
we endeayor as some reckless do. 10 bolster up our
shattered condition. by avaling ourselves still further a
our credit and thus merely put of the evil dayl shall
NC more dscroety determine furnish within ourseyf,
such wants AS cannot be fully mel by exchange al
our surplus productions? Strip the subject of all sophs
Try. all distractions, all mysliteaun, aud II RS hc,
sei into this simple quostiun-and. surely there nj,
none who cannot understand and decide plain propa
siti0n.
am aware that the force of these statistics Will b,
met, and attempted be overthrown 10y the swrepu.
assumption made upon high authority. that they pre-
sent false balance which has been settled by the pro
fits realized abroad by citizens exports
and the fact viii be pointed (as conclusive of the trutl
OF is assnmpIon) that exchanges nearly cuaze,
Between the States and Europe that specie Is not a
present being shipped in large amounts.
This fact considered in the abstract is strong rro
sumptive evidence against Indebtedness abroad an,
would be well nigh conclusive against the existence OF
very heavy mercantile debt running maturity Blu
1t lses all lis force when applied offset the cNsonc,
al funded debt rs The larger PORTIONS of our ,rrrr
debt Is well known 10 be. In the former case the deb
running rapidly Ia maturity would create pressing de
mand Tor prompt renttances covering the whole
and our exports would specie must neccs
sariiy go out TO make up the deficiency and il ihcr,
was no demand for specie, and sterling bills could b,
drawn on the proceeds ofour exports the dean,
II would, OF course, tie fair inference that export
balanced our mPors, and that there rosulun!
debt But IN the case OF funded debt. the present de
inand only ior the interest; and the debtor States
the larger amount not having been able during the pas
year to meet even this, it follows that the demand upon
our exports or the drain OF specie must have been yer,
nconsiderablc yet of this debt-and It's eN
sfence Is not incompatible with the condition OF
changes But do not the less owe it, and sooner O
later 1t must be paid either in the products If soil
IN specie as our policy in regard the protection OF Gu
domestic industry may determine five 20 imnc
ting to the full amount Of our exports NJ, Great, no err
abroad and when due. jhs debt must b. ral IA .l.,,
we restrict our pcraiions. and encourage our oApr
iatons. may be enabled absorb the amount b, ON
foroi2n CREDITS by the time ii is demandable liz It's owl
terms.
Tie obvious and only means, them Of eNtricatinp III,
country from the present and impending difficulties il
rompty and adequately to protect the domestic manu-
lectures and other products Of the country to secure tn,
active development Of the rich resources Of our hahl,
favored land. and thereby to encourage and promote thu
tabor at our citizens. Neither the fine drawn theo
r'es Of OFT closet politicians, tho imposing sclcm
oioor fi'anciefs oa change will avail us-Wc must
literally, vert out ri dcLa and 10 enahl. ~ =, d a. on