New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1846-07-27

charged against them as bounty on their Iron.
But we poor ignorant householders who, because
we have bought our Coal quite a. cheap under this
Tariff az ever before, have never suspected that
the Coal-diggers were ievying bounty OF 81 IS
per ton though that is good deal more
than they get for their Coal at the mines have
probably deserved TO be so feeced for our blind
ness and stupidity.
Paper is another Of the articles on which these
manufacturing vampires have been draining Us ct
the rate Of sl.77i,39 per annum BY means OF the
Tariff. Now we have been rather extensive buy
OF this article through both high Tariff and io"
Tariff years and have suffered not less than eooV'
per annum By the Protection OF this article II -df
Walker IS a true guide We must say 'Hs'
never discovered our loss till he found 1t out
On Hats and Caps and Boots and '>h"e" our
people are set down as taxed something over DIX
Millions bv this Tariff VIII those who have pur'
chased those articies-a toIerabiy numerous class
no ,ood enough TO tax their memories and say
,.,b.,her the makers have added some thirty per
cen. to the prices they charged prior TO August
1927 We suspect they have generally been as
thoroughly Obvious of the swindle as We were OF
tbs, practiced on Us in the matter Of Paper until
enlightened by Mr.. Walker. We have decided
and competent testimony that better Hat can be
bought in New York made here. Of course than
can be obtained at the same price IN any other
country in the world
We will no, pursue the Secretary farther. His
mercy in stopping short at only Seventy five Mil
lions when he might as well have made it -Four or
Five Hundred Millione is duly appreciated. In
u. INT no bod,
of his Report we have been looking msee espe-
cially at Table A,
And now let US consider gravely the less prepcs-
ferrous positions of this Report Mr. Walker re-
peats from his Annual Report the following
such now is and long has been the superabundanre
OF capital and active competition IN Europ. that proht
Of SIX per aiy business sufficient 10 produce
large investments OF money III that business.
Very true and now will Mr.. Walker or any of
his disciples tell us why if we levy a Tariff where
by the Manufacturers ofthis Country enabled to
make a profit OF twenty to fifty per cent the
capital Of Europe well as this Country will not
rush into manufacturing until its profits are brought
down by the reduction of prices to nm average OF
profits Of business generally! Fifty times already
have we pressed this question in every conceivable
form but no Free Trader condesecnds to answerlt.
We ask them. How is Manufacturing monopoly
when the elements thereof are equally accessible
to all! Why do not your capitalists and business
men rush into it if it be really hall profitable as
YOU say And ii capital and capacity do indeed
flow into it according to the magnitude o! the in
ducement oiiercd-as you all alleee when not talk
ing directly ON the point-why will not prices and
profits be reduced the former to the lowest living
a. OF, thor
branches of business Surely, 1t 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 Mr. Walker set forth such pro
positions as these
list That the profits OF agriculture unprotected are
less than half the average profits OF manufactures
I'd 1hu, the price of agricultural products and the
profits oil agriculture. have fallen very much since the
Tariff of ci2 compared with the profits and prices oil
manufactures
3D. Tha, the profits OF manufactures have greatly
augmented since the Tariff OF 1872, &c. &C.
The assumption here is that the Tariff OF le42
has diminished the price OF Agricultural staples
and increased the profits OF Manuiacturing-th is
the Tariff was passed and these results have fol
lowed If we admit the assertions and the infer
enccs. how are to account tor tho fact that the
profits Of Manufacturing III England have also
been greater during three last years than pre-
viously and VIGOROUSLY greater than those OF Eng
lish Agriculture Surely, this is not the effect OF
increased duties for the British Tariff has been
reduced on many points and not increased on any.
And how is it, how can 1t be that Capital does not
rush into Manufactures till all equilibrium OF profits
is restored? Money enough can be obtained here
for any investment which will with tolerable GER
tainty pay ten per cent. Mr. Walker says al abund'
ancc may be had in England for investments that
will paw SIX per cent The route across the AT
lantic has been reduced to ferry requiring twelve
DAYS to n passage British Capital i'll abundance
is invested in the lar interior OF Mexico subject
nil the chances of revolution, Indian depreciation
robbery anarchy and transportation over lonely
bride paths ofmany days journey. How can 1t be
assumed that Protection gives our manufactures so
great an advantage over all the world besides 7
How arc the Laws OF Trade utterly suspended IN
their CASE What is wanted but stability and
quiet to insure an influx Of Capital into Manuac-
lures which Will surely reduce prices and profits
to the lowest attainablc point Is 1t not evident
that Mr. Walker is procticns on the creduity and
prejudice Of his admirers IN assuming the con
trary
Some of Mr., Walkers sylosisms SAVIOR OF an ex
IRENE simplicity aspiring to smartncss-or instance
Ii i, be true that when duty OF forty per cent is
imposed by Tariff. the foreign producer dcducts
the duty from the previous price the sale
chant Il must be equally true with duty OF one hun.
bred per cent which Is exactly equal the previous
price and when deducted. would reduce the price to
nothing
Sharp is MT it but what an abundance of room
for facts and principles in the mans mind Sup
pose we are buying abroad our Iron Woolens,
for example, under absolute Free Trade. and pro.
coed to levy duty OF forty per cent, calling into
existence home manufacture Of the article. AT
once the amount OF purchases abroad fall of q
part only Of those who formerly looked 10 us for
msrket continues to do So, and this OF course the
part which supply us cheapest the residue
stop producing or find market elsewhere. Who
does not see tina, the price apart from the dur, falls
of 7 With no duty ON Grain in England. some Q.
our people who grow for that market Will probably
receive dollar bu>hcl while others. more re.
mote from the seaboard Will obtain fifty cents.
Now the imposition al n British durv OF forty per