Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1847-12-30

subject 10 the export Duty tie specie may De brought
into the country, by the Treasury department, and
coin.
The WAREHoUsING SYsTEM-has been entirely sue
cessfu than fulfilling the highest expectations
of the head Of the department. Some suggestions
to improvements in IT, VIII be made the subject Of
future report.
The TARlFF.-A large portion of tie report is &C.
cupied with this subject, and would be pleased To
draw upon 1t much more literally than we are able to
do. Upon facts furnished by the experience of SIN
gle year, picdicated unanswerable arguments
against the doctrine of protection and in favor Of the
Princ pics of free trade and equal taxation.
The comparison drawn between the old and new
tariffs In their features, the those
presented by the President Tho Secretary, however
goes into other comparisons, and pre- ens the results
Of this great measure upon the various interests U
the country. We make such extracts as our space
will permit.
In my last annual report and that which preceded il
proved that the home market wholly inadequate
for vast agricultural products We have long had for
grain and provisions. the undivided markets of
people; but these sufficient and in a single year
we have, with abundance Of food retained al home, sup
piled the world with addition, at during the last
year of 81 2S2 in value, of beadstufs and prov
sOns bringing the value exported that year up to $685.
907, 237. Our manufacturers could not have consumed
this surplus their non-consuming machines which
substituted in their workshops for the labor of man.
II the energy Of our own people can add 81 1892 2s2 10
the export and supply of breadsius and provisions
single year. what could they not add to such products it
they enjoyed free Of duty the markets Of the world
Il Is only the reduced duties that have produced
these happy results but the mode of reduction the subs
tuition of the sd valorem for unequal and oppressive mini
mum and specific duties. The higher duty thus al
imposed by the very of the Duty upon the
article of the lowest value consumed by the poor and the
duty assessed upon the article highest value used
by the wealthy, often operating duty Of TO- 90,
80 per cent upon the high priced goods and of 100
200 per ad valOrem upon articles Of lower price
Nearly the entire burden of the tariff thus upon
labor, by whose wages chiefly the cheaper articles
purchased whilst capital, with whose profits the
costly goods were bought, almost exempt from the
tax.
1t would have been tolerated 10 have imposed
duly of l5 90 or 80 cent by upon costly arti
cIes, and Of 100 200 per cent upon cheaper fabrics,
where the ad vaorem rates would have exhibited the in
justice and inequality of the duty but accomplished
by minimum and specific duties, which assessed higher
duty proportion to value upon the cheaper articles
and the lower duty upon similar articles costly in
prices thus imposing the higher duty upon labor aud
Of labor eectuay though the gatherer had col
ecied from the wokingman third fourth Of his wages
every day. whilst capital was comparatively exempt from
Such is the system which has been
by the substitution of the reduced al vaorem, operating
the of the former system favor of the poor and
the wages Of labor, far any tariff operate and,
see, with lower duties collecting larger
The great argument for protection is that by diminish
ing imports the balance of trade is turned in favor,
bringing specie into the country.
Let us now look at the effects Of high and low tariffs
upon the gain of specie during these periods from 1921
being the earliest date which the records of the Treasury
60 back on this subject From the beginning Of 1921
unit, the of 1888 and from the 3Oth Sep
ember 1912, until the LIST July, 1885, of the
imports of specie the export Sl2 6603l2, being
an average annual gain of in specie during these
eix Of
during the eleven years Of the compromise of 1885, and
low tariff Of 1916, SOS ,507 $780, and the average
annual gain of specie Sc, 227 ,967 Omng the
ifs Of S42 and 1876, and comparing the ten years Of
comparatively low duties. from 1883 to 1872 with the
twelve under protective tariffs, from 1881 to 1912,
find under the latter actual loss Of specie to the
country by the excess Of exports Of specie the i'm
ports, Of 1881 652, as the result of protection.
And gain during the succeeding ten years of COM
parativey low duties Of SAC 94 090 or al the rate of 81
6294O9 per annum and in the single year. under the
tariff gain Of S22, 2 $50, thus exhibiting uniform
gain Of specie in the years of low compared with high
duties.
Similar comparisons, with like results, are institu-
ted to domestic exports, and navigation in
terests. The report then proceeds
1t is said the famine in Ireland the sole cause of our
late large export of breadus and provisions. Now from
1890, these values given be stated in
amounts, but the quantities and these prove that even
emitting the last year altogether, and comparing the low
duty periods from 1890 to 1907, and from 1888 to 1912.
with the years of protection from 1917 to 1892 and from
s42 to 1916 the average export of breadsu and prov
sons much larger in the years of low, compared
with high duties especially considering the difference Of
population.
As still conclusive proof that the export of bread
stuffs and provisions much greater under low than
high duties appears that total exports Of from
1890 1907, both inclusive of the value Of Ssl O74
SAB; aud during the period exports of domestic
produce exclusive of cotton, was "a; making
exports of domestic produce, exclusive of cotton
the rate, from 1890 1907, of S29 467 1855 which, il
will be perceived, vastly exceeds the average
nuaI exports of domestic produce, exclusive of cotton,
der years of high duties Indeed the tables of the
ny clearly prove that, whether look imports
pors the revenue, the gain of SPECIE the tonnage
wise foreign, the coinage at the mint the export Of
breasus and provisions. the balance is largely in favor
Of the low duty periods.
In the midst Of all this success why put jeopardy by
any change, the nations weare When free trade is adj
vancing rapidly throughout the world, shall retro
gade and invite Great Britain 10 re-enact her laws
aud drive again from her ports breadstus and prov
sionsl And now, when under successful example the
ports of Europe most probably about being wde
y opened TO all EXPORTS shall we check the advancing
spirit Of the age and extinguish the dawnng light of
mercal freedom Everywhere nations being aroused
upon this subject, their statesman resisting the
ested classes and exposing the injury and injustice of
shackes upon trade. and will enroll the names Of
other countries the great international league of
mercal freedom for the benefit of mankind. II
county and her public funconariss, who proclaimed
these great truths before they had received the sanction Of
other nations
Our great movement felt in British councils,
quoted precedent in the halls of British legislation,
where American free trade documents recorded among
their archives and doctrines approved and example
followed by the repeal of the British laws, and the
reduction repeal Of other duties upon exports In
deed, has been conceded by Of our most dis
ingushed proectioniss, that the promulgation of free
doctrines in The American official documents Of s45,
certainly accelerated it, ndesd, it did actually insure