Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1848-08-17

We make no apology for eansfeuiug the
following article to our colJuns from the
! National Intelligence. 1t is "a Vain and for
chile srgumentupon a topic OF gRat and gen
ersl interest at this moment, andwil probl-
bly, repay %perus1l.
FINAL STATE OF THE COUNTRY.
II is now upwards Of niue monthsthat the
country has been suffering under d continued
pressure upon The money market. Duuug
ths period, a constant drain OF the p~leciOus
metals has been going on, amou1 ting. Ia the
aggregate 10 sone fourteen or fifteen millions
OF dollars. The conseq uence has been a con-
slant depreciation of the currency, a regular
reduction in the price of Merchandise aud
produce, embarrassment and stagustion Ia
orr Trade and manufacturers.
The cause OF all this is easily traced; it Is
as plain as A L c.. 1t is the excessive impor-
tation OF foreign commodities, induced by a
change In our tariff under the act of lS46.-
The object Of that tariff was to increase our
imports OF fore gu manufactures. MIR. Secre-
tary Walker has g~loIitied himself aud his pol
icy in its great success in that particular. Bat
practical men take a different view OF the mat
Ter. They know very we'll that oyerlmpor-
tation has always been the immediate cause
OF hose crises in the money market, SO pre-
Judicial to Commerce, so paralS zing TO indus
try and all prosperity, 10 which his country
has heretofore been peculiarly subject. Ii
Was this tendency to over-importation which
was d leading motive to The establishment OF
the protective system; and under that system
this tendency Was kept IN ~silutary check As
a measure Of finance the reduction o. duties
dt the moment OF plugging into an expensive
,H..- NJ ,.A
teal facts derived from the official documents,
will place the whole matter in a light too
clear for cayil or doubt. At page 90 Of Mr..
Secretary Walkers report OF December 8,
1917, we have a table OF on. imports consumed
in the United States, excluding specie and
merchandise re-exported, and on page 81, the
amount OF nett revenue accrued in each year,
which present the following results;
Under the Tariff @lei2.
Y'rend'g Ju 80. Imp'ts consumed. Nett rev'e.
1874 $50, $3.50. 548 S26 1853. go
1915 l05, 599, Sal 27,52s,ll2
1916 ll0,048.S59 26, 1873 80
Average of3 yrs l04 .0l2, 9o3 26 ,63l ,750
ot25 57-l00 per cent.
Uader the Tdrifo of 1916.
l647 ~ll6,25S,3l 1918 ,864
or 20 43,l00 per cent.
We thus see a reduction of upwards of five
pc, cent. in the rate ofduty on our importation
aud this notw Outstanding this tariff had been
III operation but seven out Of twelve months in
the Year. 1t Is true that the full effect Of
this tariff OF 1916 was postponed for a year
by the famine IN Europe, which caused to
export iorty or fifty millions extra in bread
stubs and other provisions, and brought in
tWenty-iour millions in gold and silver coin,
Notwithstanding The above large increase in
the import OF merchandise. But how stands
the matter now? We are informed by the
Administration paper, with great exultation,
that the revenue from the imports for the
year ending Both June last will fully come up
to Mr.. Walkers estimate of thirty-one mil
lions Of dollars. What then must have been
the amount OF foreign merchandise imported?
Why, one hundred and fifty to one hundred
sixty millions as plainly as that figures can
not lie. Here lies the solution OF the whole
matter.
Under the tariff of 1912. the same amount
Of importation would have given us a revenue
OF nearly or quite forty millions; but more
probably we should have had an importation
OF one hundred and twenty to one hundred
and thirty millions and a revenue of thirty to-
thirty three millions. We should thus have
saved our gold and our stocks. For in our
present distress we shall consider it a great
relief II Europe will take from us some mil
lions oil our SIX per cents. III payment for the
goods which we did not wait. This she will
Doubtless do. In TACT, under our present
system, 1t Is probable our whole war de t will
he gradually transferred to Europe, as was
large d portion oil that created by the war of
lot2. That debt was paid BY the establish
ment OF the protective system. 50 will this
be; for long before these stocks fail due, we
shall come 10 on senses. The game folly will
played out. The democracy of labor will
resume its rights; for it is the labor of the
country which is TO suffer. The firsL blow is
upon capital, but labor cannot long escape.
lhe iron masters are putting out their fires.
The establishments, manufacturing woollens
aud cottons, on making up their accounts.
find no return Tor their capital. Their next
step is a reduction of wages. Kentucky finds
her colt n bagging undersold by the East
India gunnles. | am told upwards Of twenty
cargoes of gunny in cloth and bags have been
imported within the last year. What says
Burns Glance of the shipment of cotton from
Great Britain to the United Sttaes! Forty
nine millions OF yards OF plain cottons III
1917. against nine, twelve, ten millions for
The three preceding years: torty-nlne millions
OF printed and dyed Cotous III 1917, against
twelve, thirteen, thirteen and a hail millions
for the three preceding. Doubtless we are
acting a most benevolent part towards the
labor Of Manchester and Bengal, and the
miners Of Wales and Scotland. To crown
oGr folly, we have the Subtreasury dispensing
what little specie remains in our cities into
small streams from which it returns slowly
and with difficulty.
After all, it is wonderful how the blunders
of the Administration have been favored
by lind fortune. The famine in Europe fur
nished specie tc put the substrea ,ury in motion
without which /. nad been Impossible. The
infamous Mexican war, by lis creation of debt,
furnishes d stock which is ailsviating the
pressure in the money market, which would
otherwise have been intolrrdble. But for the
European famine, our worst fears OF the effect
OF the change of tariff aud of the Sub Treasury
had been more than realized. There is moth
ing cheering in the future, but in "a change of
men and measures. a LOCKER UN
AN INDIAN WoMAN's LiFE.-It is often re-
marked by the traveller among The Indian
trises, how degraded aud sad is The lot of
woman. 1t seems as il she had been crushed
aud bowed 10 the earth, in order that man
might be more savage and ierocious. A recent
traveller remarks.