Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1844-04-26
TARIFF-NO. III.
WASHINGTON, April 10th, Is


be apparent that the operations OF tho Tariff OF
1912 have been extremely favorable to the fl
nances of the country and that reduction OF
the duties would diminish instead of increas-
the resources Of tho Treasury. | will now
proceed to notice some of the objections which
warmly urged against IT, with reference to
It's effect upon tho general welfare OF the people.
r The opponents of a protective Tariff, their eff
forts to excite prejudice against it, have pro-
duccd to the country no evidence tending in the
least degree, to prove that its operation has been
injurious. Instead of showing It's practical opera
tion or its effects upon the various business inter
ests Of tho community, they indulge in bolster
defamation and positive assertion, though
tho very fierceness of their dcnunciatons would
carry conviction of their truth. s. The black tar
iff;" "oidious monopoly s. robbing the poor
to benefit the rich ''taxing tho people for the
benefit Of wealthy manufacturers 5" incrcas-
ing tho burdens of the laborcrs constitute but n
part of tho cant slang and vulgar abuse with
which this measure and its advocates arc con-
SANITY assaIled from the press and the stump
and oven from the Legislative Hall. Many well
meaning persons, without giving the subject Il
thorough examination. have boon influenced by
this wholesale abuse, to Join in opposition to this
measure.
Thoro is subject upon which the people arc
sensitive. (and Justly too) the subject of
taxation. No argument assertion III rafor-
ence to the tariff, has been effective in exciting
opposition to it, the frequently urged,
that it operates Il tax upon tho people, bv com
polling them to pay higher price for all articles
they consume upon which duties arc imposed
1t is gravoly contondcd and with degree of per-
tnacity and zeal too,whch is only equallod by tho
absurdity of the position that when the govern
ment imposes a duty upon foreign article, it IN
the cost to the only of tho for
eign article, but also of the domestic article of the
Same character. To illustrate this position will
suppose that fifty millions worth of cotton go0ls of
a particular description annually consumed
within the United States. OF this amount forty
millions manufactured in this country and
ten millions imported from foroign countries.
The government imposes n duty OF thirty per
cent. on the foreign article. The FREQ trade ad-
vocatcs contend that in consequences OF this duty
tho consumers are compelled to pay thirty per
cent. not only for tho ten millions worth OF
foreign goods, but also for the forty millions OF
domestic goods. than they would pay if the du-
tv were not imposed. This thirty por cent. the V
represent as a bonus paid by the people to the
manufacturers.
sufficient answer might be found to this po-
sltion by reference to the experience of the
past The operation of the tariff laws Of 1916,
1924, 1928, 1912. clearly provo it to BIO untrue.
In every instance whore tho duties have boon in
creased, the price of the domestic article has de-
clined. and in most instances tho foreign article.
which comes III competitor with the domestic has
still sold low it did before the increase OF
the duty. The reason of this is obvious. The
effect of an increase of duty IS to lessen the a.
mount of importations. and consequently to m
crease the competition of tho domestic manuiac
Juror. 1t is we'll established fact in every
branch of industry that III proportion as a mo-
chanc or manufacturer can extend his market
and increase his sales, he reduce the price of
his commodities, and still find his business pro-
htable as 1t was before the reduction of price,
Every man acquainted with the operation of
knows MT in lint
business which promises to DC the most productive
Whom by the operation of duties, the mporta-
ton of foreign goods is lcsscncd. those aged
in tho manufacture of domestic goods of the same
description find the demand for their fabrics IN
creased. their salos EXTENDED and consequent
ly they afford to and will sell at lower prices
than formerly. In addition to this. the extension
of tho market for the domestic fabric will in ac-
cordancc with the we'll established law of trade
above referred to. cause additional capital to be
invested in the business. and tho consequent com
petition must of necessity bring down tho price
of the article to the very lowest point which il
can be manufactured.
The price which every article bears in the mar
ket must be regulated by the proportion which
tho supply bears to the demand. If the demand
IS greater than the supply the holder can com
mand his own prices. If tho supply exceeds the
demand the holder must sell for the best price he
can obtain, whether it affords him profit or not.
X Is erroneous to suppose that in all trading ope-
rat,ons the price of article must be its cost
ana ta'r proh'. When the supply is not equal
10 the demand, the holder can and will e1acr
prices greatly beyond tho cost of manufacture
and fair profit. The foreign manufacturers
when he brings his goods to this country for sa IL,
comes in composition with the domestic article Of
the same character. and of course mus, sell rs
low as that IS sold. notwithstanding the duty which
he pays
The cost to the consumer of such arsic les as
arg hos produced IN this country may be incroas-
cd by the duty. For instance n dt,ty on ten and
conee' which arc now admitted free. might 10
some extent increase the price. but that increase
would rarely be equal to the duty. The foreign
ce'nPe''''on Tor our market would strongly tend