The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1846-11-14
From the w ash,ngton Union
The Tariff of 1916.

j lie arm oil tS4O.
Events continue to show what poor prophets
the opponents Of the present revenue bill have
proved themselves to be. The tarit members
ruin in every variety OF form. The
home market was SAID to be the only one wor-
thy Of consideration. The foreign market was 10
have no other effect than to run us il debt abroad
to DESTROY our snanufactories-to food the coun-
try with foreign goods, which would not bepafd
for by our own productions, and only by the ex-
mort of our specie distressing the banks, their
customers, and the community at large. Thus Ru-
m stared US in the face in all directions, and the
only remedy was, as Mr.. Webster said to be re-
peal-or. as Mr.. Clay expressed it, the REsToRA-
rIoN of the tariff of 1912.
The whole course Of events since the passage
of the act of 1886 has fasified these sage predc-
tons. We repeat, factories are not suspended,but
new ones are rising Even coal in Richmond is
said to be advancing IN price. The iron works IN
Pennsylvania are doing handsome and profitable
business. The cotton factories are multiplying IN
number, and the only difficulty they will incur'
because calculated to raise the price OF their goods
and perhaps to reduce the profits of the manufac-
turers is the advance In the price OF the raw matte
rial, the cotton crop being cut short The foreign
market is proving Of inestimabe importance to our
farmers. Breadstuffs have risen, and flowing INTO
foreign markets. Very little specie has been ex-
ported, and there is prospect of the tide turning
decidedly in our favor; because the value OF our
exports is SO much greater than that oAour imports
as to leave the balance Of trade in our favor These
views are confirmed by the following extracts that
we make from unt's"Merchant's Magazine" TOR
.Noyeuber, which we received by this mornings
mail
s"We have in all theseitems, the results Of a
seeulafly increasing prosperity. The pane tears
which were partially excited during the session ot
Congress, were not, 1t appears, generally partc''
mated in. The great commercial interests were
healthy and active, and the consequences are IN
creased profits to capital and means Of ransporta-
sou and this has been the case in the face OF SIX
months sexisting war; Notwithstanding all the
fears engendered, both in relation to the contnu'
ance of the war, and its probable injurious infiu-
ences. capital has been fairly employed, and labor
in demand. A great support Of confidence has
been the prospect Of the intercourse with Engiand
and Europe. There probably was never time
when combination OF circumstances conspired 10
throw, to such an extent into the lap OF the wes-
tern country, the surplus wealth OF England ana
Europe, in exchange for their produce. The large
export Of food that is taking place, with every ap
pearance of continuing still to grow in magnitude
in the face of dsinc clnaton to import, fiom varl
Gus causes, may tend, for season. to make tht
precious metals the best means of remittance. Du
ring the last three years. the exchanges have beer
remarkably steady, and the movement Of speci'
either way has been uDimportant
"For the five months, ending with September
last wear, the export of specie was some 81 200,
600. II has this year been but 100000 Th'
rate Of exchange, which usually rises towards tn
close Of the year. when cotton bills become short
this wear declined under the influence Of the di
minished import above alluded to, and the 'ncreas
of produce bills of other descriptions. Th'
foreign prices Of all descriptions of produce are
now advancing, with every prospect of large sales
and as money is cheap, and specie plenty in Lon
don. while goods are falling here, a renewed i'm
portofthe precious metals may reasonably be loOl
ed for. ls9at
.It is a remarkable fact notwithstanding tn
wasi extension of commerce all over the world, th
great increase Of industrial pursuits in Europe, r.
auring the use Of capital, and the enormous expeI
diture ofmoney 10 the construction ofrailroads th
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