Holly Springs gazette., 1843-01-20

umph OF the protective principle La all ar.
ticles IN common and general use the sup
ply IS more than sufficient for our consump-
tion, at prices intrinsically the cheapest OF
those supplied 10 any nation under the sun
This beng notoriously the case the ques-
ton Is asked. why flx so high marimnm2
This IS very fully explained in the memogi
al IRON Boston annexed 10 The report of
the Committee on Manufactures The OBJ
Ject OF the minimum Is to secure specific
duty on the finer branches of the manuiac-
ture. specially on the fich printed goods
Those are objects on fancy and luxury, and
| for the mere purpose Of revenue, the most
appropriate and well suited 10 the applica-
tion of high rates of duty. This can only
be accomplished by specific duty in the
form of minimum.
Nothing can be more disingenuous than
the pretence that this duty bears at all on the
laboring classes. when it Is perfectly notori-
Gus that In all branches of the Gotten manu-
facture used for common purposes. we are
| supplied bv our own manufacture better and
iEtrinsically cheaper than we could be bv
any foreign Importation; and that the domes-
tic competition has reduced the profits ofthis
branch of business below the average In 9th
er pursuits in fact at the present moment to
nothing at all. The same object of guarding
the revenue against fraudulent invoices, led
to a change in the form of the duty on silks
to a specific duty, by weight, of two dollars
| fifty cents the pound, equal on the average to
a duty oftwenty-fve per cent, on the value.
/ What speaks most in It's favor is the fac, that
| the change is approved by the American i'm
porters. whilst the foreign houses are full of
denunciation and complaint
But the view which seems to be most fre-
quently presented and most generally receiv-
ed is, that this tariff is too high for revenue
! by its tendency to check importation, This
idea has been put forward with good deal
of assiduitv. but is wholly false in point of
fact. as can easily be shown. The best
guide is our own experience, and we can ap-
peal to that, which is perfectly conclusive.
Our highest rates fduty were under the
tariff of 1928. 1t went into operation at the
commencement of period of extreme de-
preston, which terminated with the year
1880. The year 1881 is. therefore. GER
tain criterion ofthe operation of the high
tariff of 1923, so far as revenue is concerned
"a tariff much higher than the present.
The importations of that year amounted
according to the Treasury report. to ssl03,
/ IgI,124 The duties which accrued there.
on (see Ded. No. 3. 22d Cong to S36.304,-
342 gross, or, deductlng drawbacks and ex
penses of collection. to So. .225. .2o5 nett rev
enue T5e import ofone hundred and three
millions was considered very foil one a
that time, but is undoubtedly much below
what may now be expected in future.
srbo n ~ W. ~To.,... l..
sed their calculations on the imports of l04C
800, 100000. This was year of light
imoorts-the hghtest of the last ten. The
average of :he next five years is more likely
to exceed than fall short of $4,000. 600
the duties on which will exceed S25, 900,
900, without including tea and coffee, or
which duty will, probably be laid at the
next session of Congress- measure which
the actual state of the Treasury render.
highly expedient
1t is true that the reveue accruing during
the year 1912 will be small, and that mpor
tation, rendered small BY other causes, is ir
some degree still further checked by the ex
istipg tariff; and that the checks will contn
ue TO operate during part ofthe year 1913
But nothing could be more salutaIy thar
this check. the country was suffering under
plethora of goods of both foreign and do
mes!ic production. Every article of mer
chandise, with few if any exceptions. ha.
been and still is selling at loss to the i'm
porter or manufacturer. In this state o
things check upon importation is the only
remedy, the only road to state of prosPeri
ty and free consumption. the enly basis of j;
prosperous revenue. There are some whe
appear TO be disappointed that the revival O
trade has not been greater since the passage
of the tariff. Such complaints are unrea
sonable. Little more than two months hav'
passed large portion of the country ar
hardly out ofthe last agony oftbe wretchet
J suspension system; some States are yet de-
batting whether they will not still prolone
: it by ruinous miscalled relief laws. Bu
the end has come After a long and seveT'
depression, in which confidence abused ha
been changed 10 general dfstrust, and cour
age has given place to timidity, the reaction
is cautious and slow. bat it is sure. II is a
: certain as the law of Nature that the presen
check upon the importation of merchandis
and the influx OF specie are the immediat
harbingers of returning confidence, prosper
ity. and increased consumption. So fal
: then. from the present check upon impol
f tation being unfavorable TO the revenue
: 1t is wholly the reverse. Had larg
e importation been allowed to come IN unde