Holly Springs gazette., 1843-09-29
TIL Il RIFF F.

[ Ii Z L \ r Z F.
The opposition to The long established
policy of incidental protection, now mani
tested by the democracy Of Mississippi, and
several other southern states, is a striking il
lustration of the violence Of party rancour
Nothing but party feeling could induce Sc
large a number OF intelligent men 10 oppose
a system founded in good sense, and suppoi-
ted by the experience of tie past We do
not despair, however. of seeing this prejudice
overcome, when the facts are presented IN
their proper light. 1t was upon this meas
ure that the anti-tariH men based their hopes
of carrying Tennessee, in the late election /;
but the matter was thoroughly discussed be-
fore the people. and the cause of truth pre-
vailed, against the eloquence Of one of de-
:nocracy's chosen champions.
The free trade system is beautiful in theo
ry, and if it could be reduced to practice,
would realize all the golden dreams of Smith
and Say, and other free trade advocates. But
this must be adopted by the world, to enable
one nation to do it with safety. Even they
admit that nation should impose retaliatory
duties against the heavy exactions of fof-
eign government There are no free trade
men among US, in the sense of those specu~
lative writers; all admit the imprachcabilitv
of such SYSTEM, where the government is
not supported by direct taxation. In our
last. we showed that it would require an av-
erage duty of 25 per cent. to provide suf- |
fcient revenue. even under tariff exclusive
ly for revenue To this extent, therefore,
protection is advocated by the veriest free
trader in the democratic ranks.
We propose now to show that a sound
currency and a tariff are intimately connect
ed, and dependent upon each other. We
are told b. our democratic brethren, and
we are not disposed TO con.rovert it, that spe-
Gle is the only sound basis of a currency,
and the best system of banking is rotten at
he core, unless It's circulation is at a Il times
into gold and silver From this
assumption we draw the conclusion, that the
larger the quantity of gold and silver In the
the better is the currency. We
ire warranted then in believing that svs.
EN- which will preserve our precious me.
ais, and prevent their expectation to foreign
Countries, is beneficial to the country. Sill
more does system claim our appreciation,
which annually enables US to import specie
rom abroad All Of this we claim as the {
eglumale effects of a tariff. There can be I
% proposition palmer than that if we pur- /
hase more than we sell, the difference must c
g paid for IN money. flour imports ex- =
eed cur exports, the overplus must be paid +
! specie; 10 other words, II the balance of
ade is against U.s. an export of specie is an ,
consequence. The effect of Ia
If is to check importation. and enable US
make at home hat which we before pur-
based abroad. The balance of trade i'm
lediately turns in our favor, and specie c
ows into the country. Now, for an illus I
alton La 1882, the compromise act was Il
assed. by which there was gradual reduc- D
on of duties until 1912 La the very same .
that the tariff descended. our i'm. /,
orts increased, and with it increased the ex-
orts OF the precious metals. In 1886 our
nports from Great Britain amounted to
.ooo and in 1912, they were redu-
ID to Sl7,00o,000; difference in our favor. L
100000. Immediately after the pas
ge OF the present tariff, the importation Of L
'ecIe commenced, and continues to flow in II
the country until there is more now than
as ever known before. The northern-i Il
ipers estimate it at sl20,00O00O. No Il