Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1846-08-13

fron-men are paying most OF this heavy IA
On Goal il ought 10 be deducted from IN,
amount charged against them as bounty o.
their Iron. But we poor ignorant house hold
ers. who. because we have bought our Goa
quite as cheap under this Tariff as ever before
have never suspected that the Coal-digger:
were levying bounty of sl.75 per ton on US
(,hough thai is good deal more than they
get for their Coal al the mines,) have probably
deserved 10 be 50 feeced for our blindness and
stupidity.
Paper is another of the articles on which
these manufacturing vampires have been
draining us at the rate Of 81 ,7S4 1886 per an
mum by means OF the Tariff. Now We have
been rather extensive buyers of this article
through both high Tariff and low Tariff years,
and have suffered not less than 1900 per an
mum by the Protection Of this article il MIR.
WALKER is a true guide We must say that
we never discovered our loss till he proclaimed
1t.
/ On Hats and Caps and Boots and Shoes our
people are set down as taxed something over
Six Millions by this Tariff. VIII those who
have purchased those articles--a tolcrably nu-
merous cIass---be good enough to tax their
memories and say whether the makers have
added some thirty per cent. TO the prices they
charged prior to August 1922 We suspect
they have generally been as thoroughly oblly-
ous OF the swindle as we were Of that prac-
ticed on US in the matter of Paper until enllght-
ened BY Mr. WALKER We have decided and
competent testimony that better Hat can be
bought in New York (made here, of eourss)
than can be obtained at the same price in any
other country in the world.
We will not pursue the Secretary father.
His mercy in stopping short at only Seventy
five Millions when he might as web have
made il Four or Five Hundred Millions is du.
IL appreciated. Indeed. he compliments him
self thereon in the body of his Report. eve
have been looking more especially at Table A. J
And now lei us consider gravely the less pre-
posterous positions of this Report: MIR. WAL
RER repeats from his Annual Report the fol
lowing:
'.Such now is, and long has been, the SUI
perabundance Of capital and active competi.
ton in Europe. that profit of six per cent in
any business is sufficient to produce large in
vestments Of money in that business"
Very true: and now will MIR. WALKER or
any OF his disciples tell us why, if we levy a
Tariff whereby the Manufacturers ofthis Coun-
try are enabled to make profit of twenty to
fifty per cent. the capital OF Europe as well as
this Country will not rush into manufacturing
until its profits are brought down (by the re-
duction of prices) to an average Of profits OF
business generally Fifty times already have
we pressed this question in every conceivable
form, but no Free Trader condescends to an
swer it. We ask them. How is Manufactur-
ing monopoly when the elements thereof are
equally accessible 10 all Why do not your
capitalists and business men rush into it lift
be really half so profitable as you say And
if capital and capacity do indeed flow into /,
according to the magnitude Of the inducement
ofiered--as you all alledge when not talking
directly on the pont-why will moi prices and
profits be reduced, the former to the lowest
living rates and the latter TO the average of
profits in other branches Of business Surely,
it seems to us that if there be any such thing
as Economical Science the truth we contend
for must be evident. Then to what end does MIR.
WALKER set forth such propositions as these J
"lst That the profits of agriculture uapro-
tected are less than one halft The average profits
of manufactures.
"2d. That the price of agricultural products,
and the profits of agriculture. have fallen very
much since the Tariff Of 1912, compared with
the profits and prices of manufactures.
ed. That the profits Of manufactures have
greatly augmented since the Tariff OF 1912, y
SC. SC.
The assumption here is that the Tariff of
1912 has diminished the price Of Agricultural
staples and Increased the profits of Manufac-
turing-that is, the Tariff was passed and
these results have followed. If we adult, the
assertions and The differences, how are we to
accoun, for the fact tina, the profits of Manu-.
turing IN England have also been greater dur
i,,rr Lat han
VIGOROUSLY greater than those Of English Ag-
riculture7 Surely, this is not the effect of in.
creased duties, for the British Tariff has been
reduced on many points and not increased on
any. And how is it, how can it be, that Cap
ital does not rush into Manufactures till an
equilibrium of profits is restored Money
enough can be obtained here for any invest
ment which will with tolcrabe certainty pay
ten per cent Mr., WALKER says an album
dance may he had in England for investments
that will pay six per cent The route across
the Atlantic has been reduced TO ferry requi-
ring twelve days 10 passage. British Capt.
tai in abundance is invested in the far interior
of Mexico, subject TO all the chances OF revo-
lution, Indian depreciation, robbery, anarchy
and transportation over lonely bridle-paths Of
many days journey. How can II be assumed
that Protection gives ourmanufactures so great
an advantage over all the world besides r.
How are the Laws of Trade utterly suspended
in their case? What is wanted but stability
and quiet to insure an influx of Capital int
Manufactures which will surely reduce prices
and profits TO the lowest attainable pornt2 Is
it not evident that MIR. WALKER is practicing
on the creduty and prejudice of his admirers,
in assuming the contrary?
Some of Mr. WALKERS sylloglsms SAVIOR
of an extreme simplicity aspiring TO smartness
for instance
"Ifii be true that when duty Of forty per
cent is imposed by our Tariff, the foreign pro-
ducer first deducts the duty from the previous
price on the sale to our merchant, it must be
equally true with a duty Of one hundred per
cent which is exactly equal to the previous
price, and, when deducted, would reduce the
price 10 nothing"
Sharp, isn't il 7 but what an abundance OF
room toi facts and principles in the mans
mind Suppose we arc buying abroad our
Iron or Woolens, for example, under absolute
Free Trade, and proceed TO levy duty of for
ty per cent, calling into existence home
manufacture Of the article. Atonce the amount
OF our purchases abroad fall off; a part only
of those who formerly looked to us for mar
ket continues to do so, and this Of course the
part which can supply us cheapest; the resi-
due stop producing or find market elsewhere.