Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1847-12-24

SIeSdte Vi SI loO,I 4S,lSZ, or AT Inc rate Oh
s100,613,0l2, being an average gain under
low, as compared with high duties. OF domes-
tic exports, exclusive of specie, Of $50 ,203,69o
per annum, and excluding altogether the last
year, gain of $31 ,2O7 ,5l4 per annum under
low, as compared with high duties. /
Having thus shown, both as TO specie anu
domestic exports, the great gain IN years OF
low as compared with high duties, let us now
compare the low duly and high duty cycles as
to our Tonnage, foreign and coastwlse.
During the eighteen years of low duties,
from 1889 to 1907, (see table NM our ton
age, increased at the rae of 29,41 per cent,
ner annum; from 1892 to 1912, at the rate of
4,53 per cent, per annum; and from 1916 10
1847, 1881 per cent in single year. Such
has been the uniform high rate OF increase of
our tonnage during every period OF low duties.
Now, under high tariffs, from 1916 to 1882,
our tonnage increased O,30per cent-being less
than one-third of one per cent per annum;
and from 1912 to 1916, at the rate of SCI per
cent per annum II it is said that the increase
from 1889 to 1907 was occasioned, to some
extent, by the war between France and Eng
land, this table, which is taken from the re-
cords of the Treasury, shows that from 1889
to the close OF 1892, Immediately preceding
| that war, which was declared early in 1898,
: our tonnage increased al the high rate of Co.
. 16 per annum, when France and England
were at peace, before the era of steam ravIga-
; ton, and before the acquisition of Louisiana,
and the addition OF the great Mississippi and
] OF the Mexican gulf to the navigable waters
: OF the Union, and when our flag was unknown
on the great lakes of the northwest. The
, great increase is unifolm at all times under
i low duties, and depressed under high duties,
Il fho -h0lo Io1 Of from
e 1889 to 1847.
+ tits urged, however, that although our for
q eign commerce may have decreased, yet the
4 home market has augmented in ratio more
: than equivalent to the loss of our foreign
n trade II this were so. it would be exhibited
: in the augmentation of our coastwise trade.
h embracing our lakes and coasts, as we'll as rlv-
e ers; the coastwise tonnage OF course augmen-
1t ting in the number OF vessels with the goods
l. TO be transported between the States. BY re-
y ference to the same table, it appears that our
o coastwise tonnage increased, from 1889 to
ID 1907, at the rate of 22,71 per cent per annum
3 from 1889 10 1892 at the rate OF 100 per cent
= per annum, and in the single year from 1876
s, to 1847, 1918 per cent. Such was the great
to and uniform increase of our coastwise tonnage
Ell under low duties Now, under high duties
2; the increase from 1916 to 1882 was at the rate
I'd of i so per cent per annum. Thus we see al
le immense increase, under low as compared with
z high duties, of the coastwse tonnage; prov
y, ing that the paralysis OF foreign commerce, re
m sultng from the restrictive system affects in
IN iuri0usly the home market and the trade be
ed tween the States, and furnishing ademonstra
or tive proof that, whether we look at home o.
OF abroad, we progress more rapidly under lib
d, eral commercial policy. As the foreign ton
L., Al IL
ne proves,) so did the coastwise; and as the for
De .egn tonnage declined, so also did the coast
Sc wise tonnage; and during the high duties from
IF 1916 to 1882, whilst the foreign tonnage &C
III tuallY decreased at the rate 0,89 per cent pc
he annum, that of the coastwise tonnage only in
L. creased at the rate of so per cent, per annum
st Yet during that period, the increase of tn
a. coastwise trade ought TO have been immense
H. including, as II did, the era OF the introduction
nd OF steam navigation to a vast extent upon tn
IS, rivers of the west; as also upon the lakes o
Se the northwest, and the opeing of the grea
Id canal of New York.
ad 1t is said that the famine in Ireland was tn
tie sole cause of our late large export of bread
10 stufs and provisions Now, from 1890 tn
on values are not given SO as to be stated in a
ay mounts, butthe quantities are; and these prov
all that, even emitting the last year altogether
ne and comparing the ow-duty periods from 179
en- to 1907, and from 1888 TO 1912 to 1886, til
cir average export of breadstufs and provision
laI was much larger in the years OF low as CON
p pared with high duties, especially considerm
IL the difference of POI ulaton.
lie, As still more conclusive proof that the e1
in port of brcadstuffs and provisions was niue
lie, greater under low than high duties, it appea
he by table DID, that our total export Of cote
ust from 100 to 1907, both inclusive, was of II
0st value OF s81 ,O74,843; and during the same p
las Rod our export of domestic produce, exclusi,
Of Of cotton was $3.50, All ,134; making our e,
OF ports OF domestic produce exclusive of cotto
OF at the rate, from 1790to 1907, of s29 ,467 %
which, it will be perceived at once, vastly e.
hat ceeds the average annual exports of domest
ide produce exclusive OF cotton under years
the high duties.
hat Indeed the tables OF the Treasury clear
IN prove that-whether we look at imports
ing exports, the revenue, the gain of specie, Il
'rts tonnage coastwlse or foreign, the coinage
ur the mint, or the export of breadstufs and pr
orts visons-the balance is largely in favor
t II the Iow-duty periods.
ar The department has thus reviewed the boo
lily OF the Treasury, and presented the result
FITS constituting the record of a nations histo
our from the foundation of the government dow
ItN ~ the PRESENT peIlOu: III concentration OF u
ere protective policy. These records show as
he imports and exports, revenue, the gain Of sp
SO, Gle, the tonnage foreign and coastwise the ia
the of increase in each and all of these cases
las: greater under low than high duties. These
Ugh cords are not arguments merely, but ascertai
ing ed results, amounting to mathematical pro
lest that the nations advance in wealth is mt
go rapid under low duties; thus sustaining t
, OF views Of those great philosophic writers, u
and connected with party, who, both in Euro
lly, and America, have uniformly maintained t
Ver same position.
age Comparing the first twelve months endi
lese the 1st OF December, 1897, under the new
,ess riff, with preceding years, we find proofs
ON increased prosperity. The revenue has lars
'46, y augmented; SO also have the imports,
:ual ports, and tonnage, our imports of spec
the Our coinage at the mint, our agricuItu
the and mineral products, our CONNER
rom and navigation, the business upon c
lder lakes, rivers, a coastwse-upon our IA
find roads and canals-whlst in every directi
the manufactures are being established or enarg
ccie and new manufacturing towns and cities
suit snringing into existence. Even the revuIs
eed- in England, which always produces such d
J., OF asters to all our great interests, including
ST., ton; this year, with the famine combined,
new fects nothing thus far compared with form
ting years, but the great staple of cotton. lnstt
ou Of 6p1 ~