The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-12-12

cihc duties operated protection under the tariff of
tsH from Al 70 a4S per csns 'p.r table conPi,ea
been the decline CT Importation and when the
foreign article fell, it has in many fifty per
cent brineins Up the specific duty from Al to 81 aud
from 243 to 1856 per cent? This fact illustrates another
object on to the specific duty, namely that ahou Oh
it processes to be stationary 1t is in fact constantly
auementing from reduced prices Of foreign articles
Experience proves that from improved machinery,
new Inventions and reduced co Of production, the
foreign articles are constantly diminishing in prices
whilst the specific duty remaining unchanged it Is
continually increasing in ratio equivalent ad
valorem and the protectious augmenting every yea.
Thus II the price of sugar six cents pound. and
the duty three cents 1t would be equal fty per Mt
ad vaore but IL the price of sugar fell to three CENTS
the duty would have risen to one hundred per cent
ad vslorem, thus doubling the protection, and CON-
tnually augmeuting with decreasing, until the duty
becomes prohibitory and the on such articles
disappear; whereas the ad vaorem bears under ell
changes of price, the exact ratio to the cost Of
the foreign fabric and therefore is the just and
equal also, necessarily insuring larger revenue
Annexed will be found the table marked H, OF
feve nty four principal protected articles prepared at
the Treasury Department in 1874 from RETURNS
and attached together with Others to the very able
report of Mr.. MKsy, OF the Committee of Ways
and Means, Of March IL, 1874, embrscng COAL iron,
actual specific and minimum duties under the tariff
of 1872 those articles and the equivalent adpaloem
ranging from to 24s per cent Now if these foreign
articles have fallen In price since that date fifty per
cent, the equivalent adpaiorem would of
range from 81 per cent to 1856 per cent and would 20
on increasing as the foreign article diminished in
price, room becoming absolutely prohibitory aud de-
stroypg all revenue. In this aspect of the case the
to the specific duties as permanent system
with view to revenue, are insuperable; whilst their
unjust operation upon labor, In imposing much
higher duties as an equivalent ad vslorem on the
cheaper than the more costly qualities Of goods,
cannot be successfully defended.
Our manufacturers DO not desire the restoration Of
the tariff of 1912 They know from its excessive and
pIohibitory duties 1t will soon annhlate imports aud
revenue and produce reaction fatal to the
policy. They KIN wv also that from it's immense boun-
ties ranging prices from sixty to three hun
IN
few years to such extent finally to prove most
disastrous to our manufactures That which our ma
nufacturers now desire, is what they regard
derate duties, made specific in certain cases. But
these specific duties will as has been showa be found
OF the general principle by which the foreign article
is continually tending to diminished price, whereas
the sd valorem, always bearing the sans proportion
to the value OF the import is therefore always
the most just and equal and yielding the largest
revenue. The augmented revenue under the tariff
Of lS46, las proved that ad valorem duties can be
fairly assessed and collected 1t is shown also by
the returns that this augmented revenue is de-
rived from comparatively small amount of foreign
imports consumed in the United Ststes-that amount,
as shown by the tables, before referred to, ST all
those foreign imports thus consumed in the year
Idng sob June lS4s exclusive of specie being but
l27490 OH, upon which was realized net of
sol O7O 30 1t appears sso from the table that
far from this tariff having filed the country with To-
reign goods hey ond it's capacity for consumption the
domestic experts last year. exclusive of specie actually
exceeded, by the sum per same tsble of S7l3 69 hs
foreign imports exclusive ofspece consumed the
year in the United States, Including all articles but
specie both free and dutiabs thus showing balance
Of foreign trade in favor without taking into view
the immense profit realized in the foreign market
our exports generally estimated at about fifteen per
cent or the profits of freight and navigation. This
was not q year Of famine abroad, but of abundant
crops In Europe atte nded slso with revusions there
highly unfavorable to our commerce, creating inuu.
merable foreign bankruptcies by whon vast sums
were lost to American creditors required to be replac
ed by the export of specie which was greatly
meBted by the discredit in our market of ali hills
drawn on our foreign shipments, producing, by this
n Ayc hon uftvu1 and T,,
snee'- s"aa consequent expectation But all this
specie must come back to our country except 80
far as 1t is lest by foreign bankruptcy,
appears that for the year ending June 80 1913 not
OF famine but Of abundant crops in Europe, our ex
ports OF breadtus and provisions (per table am punt
ed to the sum Of S37 Artist being largely more than
1872. The result this year demonstrates that even
without famine and in of good crops abroad
and even when their means were exhausted the pre-
ceding year. by an unprecedented loss Of specie, pro-
ducing unparalleled revusions and bankruptcies yet
with low duties enabling them to ,hapge their fabrics
for cur ,arPus Of agricultural products, they could
and did take large amount Of our breadstuffs aud
provis ons, to the value of $37 47275l Thus whilst
our farmers found this large foreign market for their
surplus, which otherwise must have renal ned usod
here, our navigating interest received impuss
well "a our commerce, our tonnage having in.
creased asdo during the last year from 2sssoto to
crease we ever realized in the time undsr any pro-
teetve tariff and making the whole increased tonnage
under the tariff of 1916 5SS All tons.
The increase Of our commerce during the two years
since the enactment Of the tariff of 1876 has been
great Eat our domestic exports exclusive OF specie
carried abroad exceeded by the Of $50 sos ISL
the exports Of the two years preceding nder the tariff
Of 1912 Whilst the tariff Of ls46 has thus augmented
our commerce, tonnage and revenue 1t has seen the
country pass unipurs through the ordeal of expen
eivs foreign war absorbing and Withdrawing from in
dutry nearly fifty millions of capital fer loans 1t has
seen the great revusion in England Of 1Si over
US almost unhsrmrd, whilst the general overthrow Of
governments on the Continent Of Europe with the I'M
paraleed destruction OF confidence credit end indus
to
foreign bankruptcies-yet, even through this ordeal
under the benign influence of the tariff of 1S46, the
country has passed. and s still prosperous and progress
sve and prices Of manufactures far less depressed
than has been the in all such preceding
similar restrictive measures smuggling to vast extent
will become an organised system. BY estimates from
the Typographical Bureau and coast survey hereto
annexed, 1t appears that our direct maritime ocean
front, exclusive Of bays fnlets islands, Sc amounts
to t,l20 miles our frontier upon Mexico, to 14S6
and our frontier upon the British possession 8
to 5000 miles making all 9s7s miller, which we hsvs
TO guard against smugglers. But IT, in addition to
this a. must be done, take the ahore line of the
United States on the Atlantic, the Pacific, and
the Gulf including the bays, sounds and other rregu.
!arties Of the sea shore and of Islands, and Of
the river: to head Of tide It makes distance of
which, added to 1850 miles Of frontier upon the
British and Mexican Possessions, constitute entire
line open to smugglers Of 81 1922 miles to protect
which against elicit der the
Of such tariff as that Of 1912 would be impossible la
this manner smuggling, so debasing and demoralizng
30 destructive Of revenue, Injurious to the no
trader an to the whele country creating contempt
for the laws and the authority of the Mon would be-
come the safety valven OF the protective policy by
the operation Of causes beyond all governmental aon-
rol.
Since my last port, the continent Of Europe has
been convulsed by revolutions and civil comm stions
parslyzpg their commerce, credit and Industry, and
diminishing our trade with them, compared with what
would have been If these events had not occurred.
Nevertheless, such have been the advantages of
more unrestricted commerce with all the world that
the estimates Of revenue for thi. fiscal year presented
s my Last report may yet be realized the quarter end
ipg on the Soth of September last being the frat quar-
yer ne present fiscal tear having yiedsd IS 991 1886
W. Inc adoption by each nation Of hsn tariffs Is a
war upon the labor Of the world As labor more pro-
ductivs cspal Is more rapidly increased and wages
augmented; YET the tariff by compe ling each nation
10 employ ortien Of its industry in articles which
can be produced more chespy abroad and the
exchange forces labor throughout the world in ess
pfonable pursuits and as consequence di minishes
the products oflabor well ~ its wages thus If aks
can be manufactured at q less cost in Europe aad
brtadstufs more cheapy in this ntry and bv high
tar ifs the import of silks here Whilst hv