The Evansville journal. (Evansville, Ind.) 1834-184?, 1844-08-01
MR.. RlvEs AND THE TARIFF.

ing Mr.. Rives's speech in the Senate upon
Mr.. McDufie's bill 10 repeal the present tar
if act, and re-establish the compromise act
Invested of its most important provisions, !
home valuation and cash duties; and we ac-
knowledge ourselves indebted 10 Mr.. r. for
no ordinary pleasure and instruction.
1t will be recollecled that the Hon. Senaa|
tor voted against the present act in 1912
but he has had the magnanimity which be-
longs TO a great mind, to admit that the OPP
Grafton of that act upon the country and the
treasury had been different from what he had
anticipated. He stated that his apprehension
at the time that act was passed was, that
''from the high rate of some OF the duties, its
practical effect would be to discourage i'm
portaiions 10 such a degree as 10 reduce, in
stead of augmenting, the revenue. The re-
suit, however," he says, 'has shown that the
experience OF Europe cannot be safely relied
on as furnishing conclusions applicable to
the financial condition and resources of A.
merica, the more liberal reward of labor and
general prosperity of the industrious classes
giving much greater ability to consume ar
increase of duty, even when attended with a
corresponding increase of price, seems TO
have but little, effect: comparatively, upon
actual consumption here" while in Europe,
increase of prices invariably lessons con-
sumption. Mr.. r. states the fact, TO show
that his anticipations in regard to the effect
of the tariff had not been realized-that in
stead of the revenue from customs falling
off, it had increased from Is to II millions
in the first year OF the operation of the act,
and during the present year, according to
statements communicated by the Treasury
Department, will reach to 20 or 25 millions.
From a statement he had in his possession,
it appeared that the revenue from customs
received at the port of New York, alone, du-
ring the first quarter of the present year, was
5,73I $40, exceeding the estimates in the
annual Treasury report of the gross receipts
from all the custom houses inthe Union du-
ring the first quarter of the year. $50 sig
nal and decisive, he adds, ''hase been the
actual results thus far of the operation of the
act of 1912 upon the commerce and revenue
of the country, contrasted with the apparent-
" well founded conclusions derived from the
experience of other coun res, under the in
huence of which my vote was recorded."-
Mr.. Riyes continues: swhile such has been
the operation Of the act of 1912 upon the
revenue and foreign commerce of the nation,
its effects upon other connected interests
have been alike propitious aud remarkable.
The credit of the government, the entire
prosiration of which, before the passage oil
the law, had been a source of deep humilia-
ton TO every American citizen, has suddenly
sprung up, as if touched by the wand of the
enchanter, and is again the object Of univer.
sal confidence at home and abroad Private
and individual credit have risen with it; and
the slumbering spirit of American enterprise
has once more walked up asa giant from his
Esleep. Amid the general activity and ami
Imation in all the pursuits of the national in.
dustry, no interests is oppressed by the opera
lion of the law for the very existence of the
controversy, which has been maintained witt
equal zeal and confidence en- both sides, il
regard TO prices, proves that there cannol
have been any material change in that res
ipect, one way or the other. If some arti
lcles have risen in price, others have fallen
and in the general result, the interests o
the great body of consumers remain unai
Ifected."
Coming as they do from statesman ofe
larged and liberal views, than whom perhap
no one of the public men of this country ha
more attentively and industriously studied it
political history, we cannot refrain from pre-
~senting our readers with two or three NOR,
extracts from this able speech, in which MI
Rives pays a Just tribute TO the wisdom @
that policy which fosters and protects the in
dustry of our own citizens, and which ha
for nearly forty years past been so ably an
1zealously advocated by the great Statesman
of the West, HENRY CLAY, who, from stanc
ing almost solitary and alone upon thi
ground, has lived TO see it become the fa
vorite policy of the nation. forcing its wa
into public favor, and making converts {
those who have for years str%enuously oppos
ed it.
Mr.. Rives says:
"There are those, / fear Mr.. Presiden
a controversies, have come to regard this grei
branch of the national industry and wealt
with aversion rather than favor. But a littl
reflection will satisfy them that manufacture
with the extraordinary Improvements of a
introduced by The inventive genius of tn
age, form a chief and most important ell
ment.i in the strength and power of mo Ter
States. The effects of labor-saving machine
ry in this department of human industry,
facilitating, cheapening, and augmenting pr
duction, have, within the last half centur
made an almost magical addition to the rio
es and financial resources of the natioI
most largely engaged in manufactures. VIII
but the wonderful development of this ne
source ofwealth and power in England, d
ring that e~ventful period, enabled her 10 su
tain, not only without exhaustion, but wi
undiminished prosperiiY. especially In b