Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1844-03-28


than sufficient for the wants OF the Government,
would, by proper discrimination, promote all
branches of industry, and afford protection to ag
riculture and manufactures He held the opn.
ion that the imposition of protective duties, 10 an
extent ,ranscending the wants Of Government
would be injurious TO the protected interests The
question resulted in this-whether,in providing Tor
ne essarv wants Of the Government, would, BY n
proper discrimination. promote all branches Of in
dustry, and afford protection 10 agriculture and
manufactures. He held the opinion tina, the i'm.
position of protective duties to an extent transcen
ding the wants Of Government, would be injurious
to the protected interests. The question resulted
in this whether, in providing for the necessary
wants ofthe Government, we may impose duties
that will afford protection to domestic industry
The idea OF horizontal advalorem scale of duties
was out Of the question. 1t was thing
utterly impossible, and would never be az
tempted. Discrimination was necessary even with
a view to revenue alone; for some articles would
bear higher rate or duty than others. In i'm
posing duties on articles for revenue, we must
look to the rates oduty which each article will bear
The only difficulty was as to the manner in which
we should make discrimination. The honorable
Senator from South Carolina had supposed case
which put this question in its true light He had
supposed the case of an article paying forty per
cent duty, and hand shown that twenty per cent
duty would yield the same amount of revenue
because double the quantity importation would take
place under the lower rate of duty Why so p
For the benefit. he says ofcommerce. Here hen
he takes leave OF the purpose of rovcnue, and he
makes discrimination for protcction-ior the
protection of commerce and navigation, He (Mr
Phelps) would only ask the gentlemen TO extend
his principle little further, so to embrace the
rAfn nj ,lft,ra o.I
principle was right, but it was so applied as to
foster only one Of the great interest of the coun
try, leaving the other to shift for themselves
Here then, was the only difference between the
Senator and himself; on one side the principle of
protection was applied to commerce alone, and on
the other it was extended tothc great and, he might
add, more important interest of manufactures
more Important because commerce could not ex-
list without productive industry in other occupations
We would not engraf on an idle or unproductive
population prosperous commerce, and it was the
great object of 1912 to promote productive indus.
try. Commerce has always been attended to BY
this Government. More attention has been paid
to it than to any other inteterest 1t has been
favoritc interest to the Government from its foun-
dation, and it has legislated for Its protection, and
expended enormous sums tor It's protection anu i'm
provement there has been but single exception
10 this policy on the part ofthe Government, and
that was in resortng to systems of reciprocity the
operation of which was most severely felt by our
commerce. In those treatise of reciprocity the
principle of protection was abandoned and the fol.
ly of abandoning protection was fully illustrated
by the consciousness.
Every Senator, in debating this subject, must be
Embarrassed by the consideration that he can pre-
sent nothing new in argument or fact in relation to
it. and he apprchended that he should fatigue the
Senate by referring to view already familiar. The
Senator from South Carolina proposes to repeal
this law of 1912, confding in the bcliefthat anoh
or and bettersystem can be substituted for it. We
could doubtless have another five could agree upon
principles In lying ofthe prcpriey of.he exist
ing bill,we must go back tothc propre'y of the bill
we must GO back TO the condition of things when i
was adopted. We have then just passed through
an extraordinary political revolution, and those
succeeding to power in the Government found that
domestic industry and commerce were Frustrated
the sources of revenue were dried up, and the peo
pie were in state of Bankruptcy. These cir.
cumstances had produced this political revolution
; Congress met here to redeem the country from i'm
pending ruin-to remedy the evils under which
the country was suffering We were sent here to
provide means of relief to devise means tc
enable the people to breathe more freely and the
only thing that was done which could have these
ELECTS was the enactment OF the tariff act OF lS42
Had that bill failed, it would have been at once
the cause of the dissolution of the party which hat
the ascendency-the defeat OF its chief object w,
proposed(said Mr.. p. IA Bank of the United States
which, by the way, was never a great hvoritt
: with him. He viewed the question of the curren
cy as subordinate one; for, while the countr,
was embarrassed, it was impossible to sustain
Banks or a sound currency and the attempt Il
regulate the currency by Legislation alone was tn
: most idle thing that entered the mind Of man
We also proposed bankrupt act and this tariff
bill. What was proposed on the other side2 II
build vaults, and construct iron chests. and get al
the gold and silver they could and lock it up
That was the proposition on the other side-to ad
: here to the subtreasury. Ruin hung over thi
!; great and hitherto prosperous people, and it wa
said that overrading was the difficulty, not in do
mestic Interests, for was impossible to over,rad
+ al home, but it was in the importation OF for
= egn goods the contraction of foreign debts, which
pressed on the banks and crippled the currency
: To relieve the country it was necessary to dimn
; ish the imports The act Of S42 was passed +
u effect that object-to restrict mporations 1t wa
one of the objects of the act of 1912 to prevent i'm
: portn,ions exceeding the ability Of the country t
= provide for their payment