The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-07-26


year ending June go 1873, at hundred millions of
dollars, and taken the latest Official from the
Treasury De partment data for the for the
fame period The average per cent duty is calculated
upon the value Of dutiable goods imported, aud not
upon the total importation for each year. II viii be
that the tariff has yielded large revenue,
and that the average rate Of duty has been larger than
under either of the two previous tariffs with the exccp
ton Of the first year of the tariff of 1872 The tariff OF
1s46 has thus fur, not only exactcl higher average
rate Of duty upon dutiable imports, but higher rate
Of duty upon the aggregate importation OF each year.
free goods aud all This is decidedly tariff,
it goes; but with the average
duty, it has failed to provide large enough
to meet the expenditures Of tho government. II the
true meaning Of the term "revenue tariff " is that
will produce an income just sufficient to meet the
ordinary expenditures of the government, the Ia
riff Of 1916 is, by no means, revenue tariff as
the above table hows, that for the first eighteen
months Of its op,rat.on it has been more protective
and produced larger income I'll an either of the two
preceding tariffs. 1t has produced revenue Of at
least ten millions Of dollars per annum greater than
the ordinary expenditures Of the require
showing that there is stil wide margin for a reduc-
ton in the average rate Of duty. The above table
shows Also that the value of free goods un
der the tariff Of 1885, has not increased, but, on the
contrary, that the importation IF dutsble goods has
been greater in proportion than under the eompro-
mise protective tariffs So fur the production Of
concerned the tariff Of 1876 has worked to
charm, and has been Of much Importance, coming at
such period in financial history; but the cont
mercal world has been deceived in its and in its
operations and it is full time its true character was
more generally understood.
For time past, loud complaints have heen made
against the commercial policy of the government by
the opposition, and by the organs of the manufac-
turing classes generally and the suspension of many
large manufacturing establishments in different parts
of the country, has been attributed to the operation
and effect of the tariff Of 1916 It is now seen
what foundation there for these complaints and
how little that tariff had in reality to do with the
movements of our manufacturers. They have been
beling their best supporters; and If the nanufac-
turers have not been able to sustain themselves to
declare good dividends has not been for the want of
protection from the They will find their
troubles arise more from their own mismanagement-
from their absence Of knowledge in conducting
their financial afairs-more from the depreciation in
prices for the materialfrom the accumulation Of
bad debts, than from any reduction in the average
rate of dutyor from the abandonment Of any of the
protective features Of the tariff Of 1912 in the forma
ton of that Of 1896 There of for the
depressed condition of manufacturing interests:
but the opposition papers, and the organs of manu-
facturer have heretofore been in the habit of
attrbutng every mishap to this branch of industry
the government and to the changes from time to time
made in the tariff, that they have, without any more
reflection than they usually gve condemned the pre-
sent tariff and attributed all their difficulties to an
act which is in fact protective tina q ay we have
had since 1928
One great argument against the operation OF the
present tariff is the fact that the iron manufacturing
establishments in every section of the country have
been compelled to suspend after having lost immense
sums of money. 1t Is true that the enormous reduc
ton in the value of iron in England has enabled US to
import to any extent at prices less than the cost of
production in this country at prices less than the
cost of production abroad. The manufactures of iron
in Great Britain, well those of cotton at times
submit to the most enormous sacrifices for the pur
pose Of keeping their establishments in active OPERA
tion II is better for them to run at q loss than tn
shut up discharge their hands, wait the return OF
better times; and their immense capitals and vast re-
sources, enable them to do So and successfully COM
pete with our own manufactures in our own markets
1t is impossible for any tariff to be regulated so as to
obvate this difficulty unless the sliding scale is adopt
ed, and We have doubt the class of manufactures
that grumbe much about the want of protection
&C., would like act of that kind passed for their ex
elusive benefit is fortunate they have something to
bane for their ill success but their own inexperience