Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1844-05-30

II a few wears should -ol around before thi. catastrophe hap
pen, and the time be sufficient for TIE ball to gather largely.
We may look for another revulsion which would carry DIS
tess and misery throughout the whole country. How are
We 10 avoid his state Of things is the question that all men
Of refsct are willing TO ask, and desne u have answered.
Well. we have determined, that. so far "a the currency OF
the country is connected with legislation, from the past. the
lesson we have learned has satisfied US that these institutions
Il banking By the government, in every way and manner,o or
by associations. that they re only calculated to give sudden
expansions in business, causing imitation of prices, and sud-
den depression of labor. In a word, the American People
have decided. and u IN again, whenever the question IS pre-
sented 10 them, that they are the open enemies oil their
peace, comfort. aud happiness.
Mr.. DICKINSON, Of Tennessee, remarked that they (the
vhig>) were still for a bank.
Nj. WRIGHT replied, we shall see what we shall see at
the Baltimore convention on that subject by YOU.
j. This not the same principle OF associated wealth. 0 esh,
thrown in ano her direciion-hnring the same porT under
another ndms? Ard this name IS beautiful; IL = eal'eo ma
endearing name, Americdn system ! But the question IS >tiI
unanswered, how are we 10 avoid these things these sudden
uses and expansions; and those sweeping calamities that ioi-
low-reeuctiOn Of prices pToStIatIon oil alcredii, ara 'he IA
Dor Of The county tcing at the mercy # the capitalists /
answer m no other way buthy a moderate and settled system
of revenue duties, which would oct cquitably upon all parts oil
the country, and leave every pursuit TO be regulated by those
laws Of uadc md investment, that, in the fieest action oil the
ton. finds is best cond ton.
Such system v i'll not asionish US at one time with a rapid
income into The treasury. ard leave US at other umes "hoHy
minus. one system will support The governnent aud give n o
just cause Of complaint 10 any portion OF our happy I'm y.
The other. irregular, fiful as the wind IN us o. eralion' VIII
disturb The tranquility Of the nation, ana ieA'e 10 oo.nn9
oncumbefcd with debts, TO be paid probably by a cirect sys-
ten Of tX, t0n
have said the tariff would have an effect to increase
the prices. ask why such investments of capital as are
making in the new manufacturing establishments, and IN
enlaTging old ones Do not the capitalists expect more
than they did under the former tariff 4: IT 50, how are
they 10 get it, The answer j. obvious. lfthey have no
such expectations. why did not they make Their invest
menis under the former tariff or why do they, win one
accord, oppose the reduction Of this What say onthhs
subject is
LIST. That it is absurd 10 saw that the manufacturers
will he benefited by n tariff which compels them 10 sell
Mt cheaper rates tia, II l. only equal to The sentiment 81
coal he sold, but made up his losses by selling a very
great quantiiy.'
2d. That the tariff of 1912 is not the sole cause ofthe
importaiions of such amounts OF specie.
2d. Whatever agency 1t may have had IN the i"huS o'
specIe, has been "a consequence OF Ms prolnbitory chara-
ter.
9th. This will excite both imports and manufa'ures
The result will be a fall OF prices, the bankruptcy oil
manufactures, and the distress Of the country.
9th. If the tariff continue as 1t Is, alter such n revuls'on
we might expect such a state of prices as TO amount 10
prohibition or n permanently fixed increased price AT INA
point at which the foreigner might come IN, and supply
part 90 the market. the duty on which would 90 INTO The
treasury. while the country would pay a corresponding
price for all similar articles, domestic or foreign, whici
might enter into our consumption.
9TH. That II Is foolish to say n high tariff, intended Il
exclude or din nish competition fom abroad, can Increas'
competition for this very simple reason, that a part can
not be greater than the whole.
st,. If The duty reduces The price, the manufacture
must be- in favor Of abol>hIng all duties because IN
goods would. according To this logic. advance m conse
quence but these fellows take special pains to be exclu
sivelv friendly Ia manufacturers by high taxation laws
and mol by reducing The duties.
But let me look AT the operation ofthe bill OF lS42'an'
eompare The same with the compromise ect of lS3o-thi
rate oi dunes collected since Ic3i. The following Ia
been furnished me by the Treasury Department
n statement exhibiting the raino f morchdndtSo pawn!
duty imported. and Tie amount Of duties that accrued
annually, from le3i to 1913 ineusirc.
DDpu