The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-12-09

on that day. there but little difference And when all
their interest, in addition TO the wages paid to the
American workman, TO allow HIM voluntarily, because
il augments the profits OF capital, fair interest IN
those profits and elevate him to the rank OF partner IN
the concern, we may then defy all competition. This is
the same principle illustrated by uniform experience
proving that he who rents his farm builds his house.
sails his ships, conducts any other business upon
shares, realizes the largest return; and that he who
works by the job produces in the same time
than the aborer whose wages are paid by the aay
in success, the vigilance and perseverance that VIII
be manifested by intelligent workingmen under such
SYSTEM will far than refund to capital such reason
able participation in its profits and enable such American
establishments to supply all the nations OF the world Inc
introduction of this system will be voluntary because Il is
most just and beneficial to all parties sthe participation
of all our people in the government, that is great
OF our prosperity and the participation oil our work
ngmen in the profits OF our industrial ESTABLISHMENTS
would exhibit similar results. Our whale and other fish
cries present strong evidence OF the success attending
American industry, when our intelligent freemen-he
workingmen of the concern--smuated BY just parcl-
patton in The profits. have driven from the most distant
the whae-ships OF most other nations and nearly
monopoized this pursuit. The intelligent worklngmen
of country are lar better prepared for the adoption OF
this truly republican system than those OF any other ma
ton and this elevation of the tong millions OF America
to just participation in the profits of that capital which
IS made fruitful only by Their INDUSTRY Will yet enjoy as
unrestricted labor with which ought TO be, and certain
ly yet will be- proudly associated Under this system,
allowed Se as to
sonable extent in the profits as an addition to their wages
and powerful and certain stimulus TO render Their
labor productive, and thus increase Tor the benefit
of all concerned, the capitalists and workIngmen, the
profits of the establishment. What is called the pau
per labor of Europe is already inferior to our labor
but would be rendered still more powerless to CON-
pete with us when labor here participated with capt.
tai in the profits When reflect that the working free
of the Union must constitute the great mass OF the
people, whose will control the government and d.
the policy OF the nation, the superior comfort ednc
ton, intelligence and information necessarily resulting
to them from this Improvement OF our social system Is
important TO the successful progress and perpetuy OF
our free institutions, and must be grateful to every
republican. patriot and lover OF mankind Whilst all al
| have derived great benefits from the new tariff,
labor that has realized the largest ward II WIS
contended by the advocates of projections enhanced
the wages of labor. and that low duties would reduce
pauper labor of Europe On The contrary, the opponents
of high tariffs insisted that labor, left TO seek freely the
markets of the world would find for its products the
best prices, and, consequence the highest reward TOR
the labor by which they were produced. The duties
have been reduced; and yet wages have advanced and
higher than under any protective tariff. There
are many workingmen concerned in other pursuits
than in manufactures. and with much less of machinery
as a substitute for labor and by depressing agriculture,
commerce. and navigation-by restricting Their business
and the markets for their productshe wages OF those
engaged in such pursuits are reduced many workmen
also lose employment and, competing for work in man
features, the wages of all are diminished
1t is not only the reduced duties that have produced
these happy results, but the mode OF eductonthe sub
suton OF the ad vaorem for unequal and oppressive
minimum ana SpeCnC dutleS Inc h5nef duty was mus
always imposed by the very nature OF the duty upon the
article OF the lowest value consumed by the poor the
lower duty assessed upon the article OF the higher value,
used by the wealthy, often operating duty OF
TO- 90 or 30 per cent upon the high priced goods and of
| 100 200 per cent ad vaorem upon articles OF lower
price Nearly the entire burden OF the tariff was thus
articles purchased whilst capital, with whose pro-
fits the more costly goods were bought, almost cy
emp from the tax 1t would have been tolerated
to have imposed duty OF 10 90 or 80 per cent by name
upon costly articles and of 100 200 per cent upon
cheaper fabrics where the ad valoem rates would have
was accomplished by minimum and specific duties,
which assessed higher duty in proportion TO value
upon the cheaper articles and the lower duty upon SINH
lar articles costly in pnce thus imposing the higher
duty upon labor and the wages OF labor eectually
though the gatherer had collected from the workgman
third fourth of his wages every day, whilst capital
twas comparatively exempt from taxation. Such is the
system which has been overhrown by the substitution
of the reduced aid valorem operating the reverse OF the
former system in favor OF the poor and the wages OF la
Dor, as far any tariff can operate, and, see
even with lower duties collecting larger revenue.
tax in proportion to the value of imports property
must always be productive than which is the
reverse of that rule, which dsregards it altogether
Thus, if we impose tax of ten dollars each upon all
houses it must produce less than the al yaorem
tax in proportion to value because the former tax would
fall most heavily upon the poor, who the least able
to bear it, and more lightly upon the wealthy, who had
greater means Of payment and thereby revenue would be
diminished Thus if the tax of ten dollars imposed
alike the cabin and the costly dwelling, it would bring
less than if the rate ad vaorem, beginning
Win the lowest al the OF ten dollars, were assessed
proportion to value upon all houses Indeed, the tax
upon the cabin might be reduced to- dollar, or say one
per cent, and applied ad valorem TO all dwellings, and it
would yield larger than the anti-ad- vaorem
specific of ten dollars upon all houses, irrespective of
their value which unjust unequal than the
same minimum specific duties upon hats, caps boots
Shoes &c. and like articles of import, without regard TO
their value The al valorem duty incorporates itself in
separately with the exact value of the article, and col
ecs the tax in exact proportion to the values the form
which, OF all others, must yield the largest Per-
haps the most perfect model of anti-a vaorem tariff
was that of New Mexico, by which duty of $500
imposed on each wagon load of goods introduced there,
wholly irrespective of their value
The great argument for protection is that by diminish
ing imports, the balance of trade is turned favor
bringing specie into the country The ant-proteconsts
contend that commerce is chiefly but exchange of i'm
ports for EXPORTS and that, in diminishing imports,
| both that if we purchase more imports, we will sell
more exports in exchange and at better price and that
if profitable, should have larger bal
of trade in favor and usually larger imports of
spece and that the profits of commerce, the increased
exchange OF for foreign products, augment the
wealth of the nation. The four protective tariffs
enacted in 1876 1924, 1885, and 1912. The compromise
interviewed from March, 1893. until after the 3oth of
August 1912; and the tariff of 1916 went into
operation last year Let now look at the effect OF
high and low tariffs upon the gain of specie during these
periods from 1884, being the earliest date to which the
records OF the Treasury go back this subject From
the beginning OF 1921 until the commencement of 1885,
and from 3Oth September 1912, until LIST July, 1916,
excess OF the imports of specie over the export was
$l26Go3l2 being an average annual gain OF 1871 ,2l6
in specie during these sixteen years of high tariffs whilst
the of specie during the eleven years of the
promise act of 1885, and low tariff of 1916 6S 507,
| $40; and the average annual gain of specie