The New era. [volume] ([Portsmouth, Va.]) 1845-1847, 1846-08-04

1916.
(Cont;nucd)
We thus see that the reduction of duties In the
amount "f "a. l29 900. has diminished the revc-
nue. but Sl 5000 and lead Ia constant increase
ir"m exports. until in the last wear il amounted ,o
little more than 10000 600. or about $50.
OUO.uOO. Could there he more striking evidence
%, the stimulus given to the productive puwer of
country bv the removal Of restrictions upon
commerce IMAM such an Increase i'm the exports as
has been produced by so small nss To tho reve
nue. Our own experience is almost eonaIIv
conclusive as 10 the loss OF national wealth which
is orcasi"ned by unnecessary Restrictions upon
commerce. In looking to the history of the Ell
iects ot the restrictive policy upon the productive
industry. turn FIRST To the exposition nf evidence
In support OF the memorial prepared by The per
nanent committee of the free trade convention as
setnbled al Philadelphia an exposition of which
Mr.. Henry Lee. ut Boston. was the author I
cou'h not appeal To any document more dis,in-
gulshed for research, ability. and impar,ality. In
that exposition find the following statement in
relation 10 comparative view of our tonuare du-
ring TWO periods ct thirteen years each--ihe one
from 1904 Ia 1876. and the other from 1917 TO
1899: . We apprehend, however. there can
hardly he doubt on any mans mind who has
reflected upon the subject. that from 1904 To 1876
our commerce and navigation suffered more iniurv
than they derived benefits from the wars of En-
rope especially II we take In view the losses in
cident To our own measures of defence consequent
upon those wars. Yet, rs we have shown our
foreign navigation during that interval increased
al me rate at ~ per cent. and our rnasinp ma vi
galnn at the still greater rate of So per cent.
while IN the subsequent thirteen years OF nrofonnd
peace and general prosperity our coastinp tom
mage Increased only 81 per cent, while our for.
eign navigation decreased 10 per cent-eyhihit-
IN" the m"r!Iiying fact of reduction from 300
IA Ia O3U, az tons, which. however is more
Than can he pr"iitaby employed while taxed and
oppressed by protecting svstem' (Exposition
OF Evidence. No s, p. 49, Upon the same au
lhnfItV we are assured. that ''frnm 1899 To ISO7
nclnsive--nine years, during four of which our
commerce was INTERRUPTED nv an emharun-onr
exports averaged S83 909,O69 For the last nine
years. including 1880 the average is hut SIT.
SlI ,3I4. Exposition of Evidence, No. 3. n
u J. The first Derinds taken in these cnrnpari.
sons were periods of low revenue duties: the
others were periods Of comparatively hiOh Drnrpc-
tive duties. or S24.3 .624 imported in I7s9-
go, s2l ,742.29l paid 5-ppr cent. duty !: SO.
o9l 'I52 paid u to 10 per cent. duty; 81. 5sI
PAID ia t" ID per cent. duty. averaging about 81
per cent. (Bosinn memorial uf 1927. n. so },
Fer other periods and for a more extended view
OF tie comparative effects of high and low duiies
upon our commerce, now turn To a table commit
eo by Mr.. Calhoun, of Sonth Carolina from off
cial reports, and published in a speech delivered
ny HIM in March. 1912. In COMPARING the eff
feels of high and low duties upon exports and
TONNAGE, he took period of 8 years from 1925
10 1867. ct high duties and another. 1888 to
lo4u. under the lower duties of the compromise
act In the hrst period the snm of the domestic ex-
ports was 1860, % ,564. in the second, s769. $50
355 In the wear 1925. they amounted Ia sf;6'.
"a I46. In 1882 they had declined To sos 1877
BOD Bot in the year 1888 they amounted tn So
3i| ,b9S. and In 1910, under the low dnties of the
compromise act. they had increased to 81 1882.
BIZ. In the first period the American ,onnare
increased from l.423. Ill tons in 1925. onlv IN
] ,4o9.45O in 1882; bnt in the second period of
lower dniies ii increased from COG. I40 in 1922
to 2,lSOT63 in 1910. During the whole of the
hrst period, The export of domestic manufactures
was hut S43 765, whilst in the last. il amour
,ed to S05,9l7.OlS They declined from So
|2919I in 1925. To S5050633 in 1882 hut
hey rose from s6.557 $50 in 1888. to SI2. 84S..
o4O IN IG4O. In comparing the exports oi cotton
hhd t"hacc". three periods were taken from 1920
to 1926. from 1927 TO 1883. and from 1884 10
Io4O The exports of COTTON Amounted to $40
l65,933 in the first. 10 S20I 3O2. PAT in the sec.
Dnd. and TO 435 ,30083 in the third. The ex-
puts OF tobacco Amounted 10 S43. 400 in the
lt Si. In So9,9oo, 400 In the second. and To S57,-
SO9,O9S in the third The average price of cn,
per pound in the second. and l31 cents in the
third and this whilst the quantity produced was
rapidly increasing In order To complete the ala
llstlca view of the operation of high and low din
lies. so as to embrace The tariff of 1S42. | must
now refer to some tables prepared by myself from
the last annual report of the Secretary nr tho
reasnry. ! have taken period of the three
years before The tariff of 1912. and compare il
with period of three years since. The snrn of
p, n he e.,
lies 1914 900 los, in the alter period !, VOC
hut $50 .l93.l32, being a loss of about 800 600.
UUU' per annun. The sum of onr imports durinp
me hrsi period was 1897 ,l79. 1913. i'm the second
u was cZ9O'49o.o9S. In the first period nur re-
eNporlhtun Oi foreign merchandise was sol 1JS
JIc, in the second il amounted TO S33. 394 .3g4
thus losing the profits ON the re.exportaiion Of
nearly So.UOO.OO0 worth Of foreign merchandise
per annnm. Our exports Of cotton Amounted 10
) I945J.b3O IN the first period. and to only
Slo4 ,922.950 in the second The exports Of
tobacco amounted 10 $50 ,293 sos IN the first, and
To S2O.5l8.D53 10 The secoud. Our exports or
flour amounted to s24 .S2S 43l in the first period
and TO 1921 I'D in The second and our trade
to France and her Dependencies has declined from
S63 500 l42 worth Of exports in the first nerind
tu s4474QSS3 in the latter. Our exports f.
Spain and her dependencies has declined r,,o,
500 ,5l3.lS5 in the first period, to s1s.4o5 or
in the second
But il may be said, Mr.. Chairman, that the
view Of the comparative operation of hioh and
low dnies upon cor productive industry Is still in
complete. without reference To their effects opnn
prices turn therefore to that branch of The
'uWPc', and commence again with the exposition
~ evidence prepared by Mr. Lee. Of Boston in
1882
select some of the leading articles, whose
The second period embraces the year 1919 in
winch returns given for only months a n adj
dlton Of ll1th to the Of exports or imports for
this period NJ ecssary TO mako proportional view
lust. This will mako the couoparison soroc,,La.