The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-07-03

Of thirteen years each--the one from 1904 20 1916
and the other from 1917 TO 1923 ave apprehend
however, there can hardly be doubt on any mans
mind who has reflected upon the subject that from
| leO4 10 1916 our COMMERCE and navigation suffered
more injury than they derived benefit from the war
Of Europe, especially If we take in view the losses
incident 10 our own measures of defence consequent
upon those wars. Yet as We have shown, our for
elgn navigation during that interval increased ut the
rate q per cent, and our eoastng navigation AT
me still greater rate OF SIS per cent while in the sub
seqoen. thirteen years Of profound peace and gene
raj prosperity our cOastlng tonnage increased only
81 per cent, while our foreign navigation decreased
- per eentexhiblting the mortlfying fact Of re-
uueuon from so, 724 20, 650.l42 tons, which, how
eyer, rs more than can be probably employed while
taxed and oppressed by protecting system" lex
posinon OF Evidence, No. 3, p. 49, upon the same
authority we are assured, that "from 1859 TO 1907
inclusive-nlne Years, during four Of which our
commerce was interrupted by an embargo--our ex-
ports averaged So, Joy O69. For the last nine years.
Including 1880, the average is but Az, SAC, 955 l."
(Exposition Of Evidence, No. 5, p. 2l) The first
periods taken IN these comparisons were periods of
low revenue duties; the others periods Of com
paratisely high protective duties. or S24,34 ,624
imported In l769- go, s2l, 142 29l paid S per cent
datyi 1891, 752 paid 2! to 10 per cent duty; ST.
2sl paid l2l 10 Is per cent duty, averaging about
| b per cent Boston memorial of 1897, p. 60)
For other periods, and for more extended view
OF the comparative effects Of high and low duties
|
by MIR, Calhoun, Of South Carolina, from official
reports and published in a speech delivered by him
/ IN March, 1872. In comparing the effects Of high
and low duties upon exports and tonnage, he took
period OF years, from 1925 10 1882, Of high du-
ties, and another, 1888 To 1870 under the lower du.
ties Of the compromise ACT In the first period the
sum Of the domestic exports was s469, l9S, 564 in
| the second, s76S, 352, 365 In the year 1895 they
amounted To s66,94l 746 in 1892 they had declined
10 sos, l37 ,564 But IN the year 1888 they amount
r. Ia and IN & l.. A.
ties OF the compromise act, they had increased to
eli3,3o2,5 6o. In the first period the American
tonnage increased from lt23llI tons in ls25, only
to LAB, $50 in 1882; bat in the second period Of
lower duties It increased from COG, l49 in 1885,
2lsO, 1863 in 1910. During the whole Of the first
period, the export Of domestic manufactures was
but s43, lsO, 765, whilst in the last il amounted 10
s65,9l7,Ols. They declined from q, 729, 1877 in
1925, TO 5000, 633 in 1892; but they rose from
1855 $50 in 1885, to $40 s4S $40 in 1870 In com
pairing the exports Of cotton and tobacco, 3 pc.
RODS were taken from 1890 to 1926, from 1927 to
1888, and from 1884 to 1910. The exports OF cot
ton amounted to $40 7659 1893 in the first to s2Ol-
3O2 PAT IN the second, and to 435, 800 63l in the
third. The exports Of tobacco amounted TO sl3,-
AL 1863 IN the first, to $50 1863 AGO in the second
and To s57 800 096 in the third. The average price
Of cotton was ISL cents per pound in the first 10
cents per pound in the second and 49, cents in the
third; and this whilst the quantity produced was
rapidly increasing In order TO complete the stats-
teal view OF the operation Of high and low duties
so "a 10 embrace the tariff Of i6l2, must now re-
fer to some tables prepared by myself from the last
annual report Of the Secretary Of the Treasury
have taken period Of the three years before the
tariff OF 1912 and compare II with a period Of three
years since. The sum Of our exports during the
first period Of low duties was 1914 800, l65, in the
latter period It was but 1910, 1893 1872, being loss OF
about $40, ,0O0' per annum. The of our
imports during the first period 1897, LIS, 1928,
in the second il was $500 4433 1913. In the first De-
nj
Sd, l539lS, in the second it amounted TO 500 3S4-
1874; thus losing the profits the reexportation of
nearly sl6000000 worth Of foreign merchandise
per annum Our exports Of cotton amounted to
s79, 439, $50 In the first PERIOD and to only sl54
922,95O in the second. The exports Of tobacco
amounted to $50, 293 603 in the first, and to 500,
578,053 in the second Our exports Of -four amount
ed to s24, $685. 3l in the first period and to sl5,-
92l, l54 in the second; and trade TO France and
her dependencies has declined from 500, 500 lag
worth Of exports in the first period, to s4l 749,sS3
in the latter. Our exports to Spain and her de-
Tendencies has declined from s225l3,ls5 in the
first period, to Is, 1876 SAT in the second
Bnt 1t may be said, Mr.. Chairman, that the view
OF the comparative operation of high and low du-
ties upon our productive industry is still incomplete
without reference TO their effects upon prices. 1
turn therefore to that branch of the subject and COM
mence again with the exposition of evidence pre-
pred by Mr.. Lee, Of Boston, in 1892.
select some Of the leading ARTICLES whose price,
were from the New York price current of January,
1891, and April, 1916 The prices of 1916 ore
characterized by him free-trade prices, and those
of 1881 as American system prices:
FreetrGde prices Amer system
1916 prices 1881.
Beei mess 10 cargo, IS 5Oto Sl3 90 ~ 30 to S. 81
Cotton rib, 2sto 10 9to II
Fish cod, per quinta', to 5 rs to
Rye, 20
Indian corn, 81
Barley, IA 10
Oats, 81 n
Tobacco, 100 lbs, 10 90 to 30 90 10
Wool common qualities, so to I 90 10
Pork, Toto % 10 10 90 10 10 Oh
From the New York prices is to be deducted the dis
count bank bills as the banks had then resumed
Gle payments This discount in April 1915, 10 per
cent; but in July the discount fell to per To equal
ze the prices Of 1915 with the specie value abatement
OF to 10 per cent should be Re from the prices of
Exposition No IL, p. 391
In the same document, find a comparative
statement Of the prices of -four in the Philadelphia
market during periods of five years. From isl3
to 1917, it averaged 50 81 per barrel from 1918 to
1922, it averaged Sc 60 per barrel; and from 1924
to 1928, it averaged IS "a per barrel. To this
beg leave to add table compiled at the Treasury
Department under the supervision of my colleague,
Mr.. HuBARD Facts had been called for, and he
has pro duced them to the utter discontinue of those
who made the demand.
Statement, erhibtng the average annual quantity, pal
ue and price Of cotton exported at stated periods from
1901 IA 1Sd5