Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1848-09-09


over. Theart was that whilst General jackson
was Threatening and preparing to hang JOHN G
: CALHOUN. tie party was instructed to modify the
tariff accordHgto the South Carolina " free trade
| platform. What was called Verplanck's bill was
introduced, nd very nigh carried, under rigorous
/ party drill The Democracy Of New York and
) Pennsylvania, however, interfered, and the bill
, was reluctantly abandoned. In the mean time
, Mr.. CLAY, confding in the representations Of
, the Administration to the revenue, introduced
his COMPROMISE bill, which found no favor with
the Jacksn party until il was ascertained thai
Mr.. Verpancks bill could not be carried. Il was
then sezd on, and carried through with railroad
home AMI boosted that she had brought Congress
to her fet. The compromise bill expired in July
1912, ard left Us no revenue law, or one levying a
uniform duty of twenty per cent. The gentlemen
of the hw were divided in opinion which OF these
was or condition.
TIL compromise bill did little injury to the
manufacturing interest until the two last years of
its e.istence, when the protective principle died
out. The prostration Of the country was intense.
Evey interest languished. The revenue also fail
ed, seriously to affect the credit of the coun-
try. The loans Of 1912 and 1s43, to the amount
of fifteen millions of dollars became necessary to
cowr deficiencies.
! Under the circumstances, the Tariff OF ls4s was
framed, not without much difficulty arising from its
connexion with the question of the distribution of
the proceeds of the public lands. The effect was
magical. The languishing interests Of commerce
and manufactures recovered their tone: public credit
revived at once. The loan which in 1912 went a
begging at six per cent, was taken in ls43 al, five
per cent. with premium.
This bill was framed on different plan from
that of 1882, nasnuch as the deranged state IF the
finances made it necessary to provide for not the
least but the greatest possible amount of revenue,
combined with reduced application Of the rotec-
tive principle In this respect the result was most
happy. The nett revenues from imports far the
years ending 30h June, 1914, 1s45, and 1916, ave-
ragged $26,63l,750, on nett import Excluding
specie) averaging one hundred and four millions,
being average duty of 25a per cent; whilst the
first year of the more productive tariff of 1916, on
like nett import of hundred and sixteen mil
lions, produced revenue of 23,747 ,s64 averaging
203 per cent.
No one can deny that the country enjoyed the
very highest degree Of prosperity under this tariff,
nor that its action upon the finances most hap.
py and successful; that nothing could be better,
as mere revenue tariff. Why was it disturbed I!
The demon of party seized upon it. 1t was de-
nounced by the Baltimore Presidential Convention
of 1914; and WHY Precisely for the same rea-
son that JAMES X. Polk was nominated instead of
MARTIN VAN buren,; in order to secure the votes
Of South Carolina and perhaps some other doubtful
States in the South The election was carried.
The Baltimore resolutions, reported by BENJAMIN
F. BUTLER, the .4bbe Seyes Of Conventional reso-
lutions, were held up by the Administration as
the immediate expression Of the will OF the people,
and superseding the Constitution itself. This is
the most abomInable, the most fatal principle that
has been brought into practical action since the
adoption OF the Constitution. II submits the most
difficult and abstruse questions in finance ant poll
teal economy to the decision of the masses 1t the
polls, who are actuated by no other principle than
the success Of their own political party. This is
making of Congress nothing but set Of puppets,
to carry out measures Swallowed forth in clap
trap resolutions, hastily framed for effect by some
half dozen eager political partsans. This was the
ground taken for change Of this most excellent
Tariff Of 1872 and the Protective principle involved
in il. Areuenue tari6-that was the word-was to
be substituted. The ground first taken by the De-
mocratc leaders in Congress was, that the Tariff
of 1912 was TOO high for revenue that it was ne.
cessary TO reduce it in order TO increase the Gus.
TOMS This was the burden of Mr.. McKAY's re-
port, made up in The winter OF 1886. But before
that report was presented to Congress, the absurdi
ty OF his ground was made so apparent by the ac.
cruing revenue that it abandoned, and the con.
trary note set up that it would produce too much
The most Objectionable circumstance in the
ground taken by Mr.. Polk, and especially by his
Secretary Mr.. WALKER, is the attempt made tC
excite prejudces against the system as favoring tho
rich and especially those engaged in manufactures
They talk of class Legislation, special legislation
IN ftvor Of another form ofpriUileged orders. The
tariff OF 1912 was pronounced unequal, unjust, en-
brilliant, and oppressive. This was certainly COO
IN President Polk, who had voted for the tariff o
1892, more highly protective than that of 1912
AMI Of course more unequal, more unjust more ex
oroitant and more oppressive. A more undisguiset
rIr against DrODerfU was never waped IL has onl,