Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-03-26

Glance NJ orr more modern legislation upon this
subject will illustrate these positions Inc iariH oil
IsIG ,bonah intended by many of its supporters to be
revenue measure, was strongly protective upon many
.r,;cas as reference to its provisions will show Yet
tbe manufacturing interests were not content with the
nro,ection il afforded Those who were established
desired larger profits; and those who wished II esta-
bl,sh new branches OF manufacture desired an extern
son of the benefits fancied benefits 10 their inter-
es,s and the Tariff of 1924 lowed apparently design
ed TO accomplish these objects Still, satisfaction on
the part of some of the manufacturing interests was
not manifested; and IN three years 1.-THE "ooliehs DILL
SO called providing almost exclusively Tor me oeneh
OF the manufacturers Of wool to the exclusion OF tue
agricultural und other great interests was Drought De
fore Congress- The agitation oil this measure reused
the attention of the country, and Proeuced 'he sosp
Dion that the manufacturers were SEEKING 10 Proecl
themselves at the expense, ana 10 me P'eJuG,ce VI Tue
farming and planting interests; and the result was, the
Tariff law of 1924 law which has ever been cons-
dered as ssprotect,ve" conradistnguished IRON
ureyenue Tariff, and which, upon its passage, received
from of the prominent advocates OF lhe manuac.
turing interests the severe apPeiiauoh OIL "e our y
abon,indti0nS.
During all this period a heavy debt was pressing
upon the country aud It's extlngu'shment would alb
sorb any surplus Of revenue beyond meeting the or
binary expenses of the Government, thougn y IS oe
lieyed from what the committee can learn OF the his
,orv Of that time that considerations OF revenue had
very little to do with the formation or passage OF the
Tariff bull Of 1925 and that the extreme OF protection
TO all interests constituted the governing principle In
that legislation. Combinations OF circumstances IN
this country and in Europe, made this law productive
of revenue beyond the antcpaons of any who specu-
lated upon that subject the time Of its passages and
the rapid exnguishment OF the public debt the vast
Accommodations orevenue and the growing dlscontenls
against duties enormous, soon produced tue neces-
siiy for retrogade movement, and the Tariff Of
1899 was the result This law was evidently intended
as adjustment of the duties upon permanent oass'
but the impulses which had been gwen by Inc pre-
yious LEGISLATION were too powerful to be suhcienty
controlled by it. SURPRISES Of revenue continued to
accumulate the public Treasury, the debt disappear
ed or means for It's final extinguishment were pos
sessed, and the discontenls against the high duties
we're rather increased than abaed by what was con-
sidered imperfect and lnsuhcient reHeoy lot Tux
evils complained OIL
This state OF things produced the "Compromse ACT,
SO Called which. acting gradually and silently, lett
the public mind in state OF apparent quiet IN refer
ence to legislation upon the Tariff while that acton
was producing consequences not less important 20 al
interest,". public and private, than the changing legs
laton of Congress has produced at other periods ne
first evil-and fearful one 1t was-was iae vast III"
nuel supluses OF revenue occasioneo oy the very Sra
dual reduction Of the high duties upon imports, ana
The enormous sales of lands which characterized That
period IL will be long time before the country WIZ
forget the Expansions of the currency, the monsrous
abuses of credit, the specuations corrupu"ns, ah'
fraud. growing ont of that period. 1t IS not pre-
rended or believed that our legislation upon the sub
iect of the Tariff produced the state OF things here
referred to but merely that It's acton, at ihat
period Of pecunary excuses, happened 10 De sucn
as 10 favor and promote them. No safe arrangement
of the previous high rates of cuty could perhaps have
avoided this injurious result; and the depose with the
States of more Than tweny-eigh millions OF The sur
plus revenue the strongest declaration on the part
Of CONGRESS Of conviction OF The existence oil the o
ease and the agency legislation TO give tstrengh
and expansion, as it effort on lis part TO change
the direction of that agency, and 10 provide The apter
ance OF security for the public treasury against the
crash which it seen must soon follow the wild ex'
cesses The crash did come, and ITS bllghnng effects
eonalied the picture which the NEST vivid naginaon
had drawn OF prostitution, distress, ruin, and bankrupt
cy This Influence of this sweeping reaction was less
sudden though not less certain upon foreign com
merce, than upon domestic interests and as the high
duties were gradually reducing, and were not reduced
In established limit undo. the operation o; the compro'
mise act the public Treasury not absolutely Giles
ed though 1t has been !bat annual dehcieac'es
of the acctung revenue were experienced IRON the
Time Of the Revision in 1887 These have necessarily
increased rs the reduction Of duties uod+r the copro
mise act have proceeded until the na fall every rate of
duty to 20 per Gnder the Both OF june c42
The sudden and heavy reductions of duty on The 3lst
of December, 1871, and the Both OF June, 1872
being the last under that act were we'll calcu lated
10 alarm the fears Of the manufacturing interests, II
not 10 press severely upon their business and in
The face of unsupplied Treasury and rapidly IN
creasng public debt, to have been expected that
they would make further effort Tor renewed protec-
zion II was 10 have been hoped, however, as the
committee think that the sad experience OF the past
If not 10 their peculiar interests certainly 10 their
country and ali its other great interests, would have
induced them 10 moderate their Wishes and only to
ask such duties the wants of the Treasury should
promise 10 make permanent and which would, there
fore be reasonably satisfactory 10 the whole country
The effort was made the part OF the mGruiac-
turing interests, at the annual session OF Congress Of
IS4l'-]2, and resulted in The Tariff law now under
the consideration of the committee. III the dutles
established by this law be the duties prayed for by the
thing yoad their appearance in the aw,) one OF TWO
conclusions must certainly follow, either that they
have mistaken the practical effect and measure OF
value OF the specific duties imposed, and oil the NM,
nuns used, when this mode OF enactment IS aoopieo
10 regulate the duty; or, that moderation waich ne
committee would have hoped for and wh'ch !hey ln'oh
would have been and sanitary, as we.. 10 tei
interests as 10 all Others cannot have prevailed VITA
those connected with several important branches o.
Manufacture 10 any very great extent IL can"o'
certainly be claimed that pemanency TOT 'hs Jaw Va"
even u DE hoped, the most solemn dec'aas'"hs "
those whose votes made it law, proclaimed ''e Ca
cessive duties it imposed, and gave assurance ., we
earliest practicable modification Wheh IL shai oe
seen mon co1noarson Of the rates. that quite NIL m
Der Of the duties under this law are even n'saer Una
were the duties uoon the articles under the lar"
Of 1898 neither these declarations OF those VINO gave
reluctant votes for the law, nor proposition 'aus
ea.ly to modify it, create either surprise or osaP-
pointment
(To be ContiRued)
TWENrY.EIGHTH CoNGRESS--Firs: Session.