The Middlebury galaxy. [volume] (Middlebury, Vt.) 1848-1850, 1848-03-07

S40l, 100000. Equal to forty millions a
year against the country.
Yet we are told that low tariffs always favor
the country and promote the national prosper
hy.
But this is not all. Take the exports from
the imports during these ten years of low du-
ties, and it will be found that the debt against
the people of the United States in favor of
foreigners, is SIG, 166,242. What a sum of
national property is here exhibited But Mr.
S. said there was another very important
fact he wished here TO bring to the attention of
the House and the country-it was this that,
during eight years of the highest tariffs, of "a
and '2S, one hundred and three millions Of sur
plus revenue was applied to the payment of
the public debt, and that during a correspond
ing period of eight years of low duties under
the compromise bill, after wasting forty mill
ions ofsurplus revenue, a debt of about fifty
millions was contracted: showing a failure of
revenue to meet expenditures. under the low
duties, of about eighty millions in eight years;
and 1t further appears, that after the tariff was
raised in 1912, there was paid in the four
years of its existence, nearly forty millions of
public debt and now, since the repeal of the
tariff of 1912, and the restoration of low du-
us INV lCNtlluO run QOhil, anu lut
national debt is again running up at the rate
of forty or fifty millions year. Here are
facts that speak volumes as to the effect of high
and low tariffs on the revenue and national
prosperity. What a commentary is this on
Polk and Walkers theory of low duties produ-
cling high revenue, and high tariffs producing
low revenue
Such is the evidence in favor of Mr.. Walk
er's position, that low tariffs always turn the
balance of trade in our favor. Such are the
happy effects of his policy of free trade. Low
tariffs always have been, and always will be,
the ruin of the country. Let any man look at
the scenes of general distress which always
have followed this insane policy; the ruin OF
flourishing establishments, the multiplication
of bankruptcies, the advertisements of sherilis'
sales, the destruction of credit and confidence,
the prostration of enterprise, the stagnation Of
trade, and general condition Of discomfort and
misery which have invariably succeeded the a.
dopton Of these false and visionary theories,
and he will find one of the best criterionS to
judge of their political soundness. And such.
| say, will always be the consequence of arep-
etition of the experiment Mr.. Walker says
that they never have followed. | say they
always have. Their whole theory is 4 mis-
take. and practice will ever so prove it to be;
and when it is put forth in the very face of
facts which every intelligent man knows, it is
difficult to resist the conclusion that It'll done to
deceive: that there is an object to be attained
by misleading the public mind.
Again: The Secretary asserts that low du-
ties have always been accompanied by great
ly increased export of breadstufs. And he
attributes the sudden augmentation in those
ports during the last season, not TO the famine
in Ireland, and over the South Of Europe-not
at all: but solely to his model tariff Of 1916
That is what has done it ALL Low duties, not
starvation, have induced the people of the old
world suddenly to eat Indian meal, and call out
for American -four and American beef But
nut the same question to Southern gentlemen
in this House-if this reduction Of duties Is the
thing which has produced so large an amount
of brcadstuffs, pray why had it not, in this
same degree, increased the exports of cotton
and tobacco? The export Of cotton under
this model tariff of our model President, has
been less by four millions Of dollars than the
average exports of ten years past, (from $3.50
to 1S45,) less of tobacco by million and
half-less of manufactures by nearly two mill
ions-less Of the productions OF the torest-leSs
of almost everything but breadstuffs and pro-
visions. How is this accounted for! DR..
Walkers specific speech Of '46 has double
operation-purgative as to breadstuffs and
provisions, but astringent as to everything else.
Who can doubt that famine, and nothing but
famine, has produced this greatly increased
of breadstufis.
But what produced this falling off under this
beautiful free trade policy? Was that, too,
the fruit of the tariff Of 1876? Why has there
been no increased exports of cotton? South
ern gentleman, cotton growers, how IS this
And YOU, We tobacco-growers, how comes 1t
that, under Mr.. Walkers patent machine to
increase exports, the export Of tobacco has
fallen off a million and half? What say you
to that? Was this the happy effect of the
tariff of 1916? The Secretary tell us that the
in Europe has had little or nothing
to do with the consumption there OF our bread
stuffs; nothing whatever. Wellthe starvation
has ceased, breadstufis are down, and now the
redoubtable Mr.. Secretary Walker is like to
be caught in his own trapl Itell you that in
a few weeks more the corn laws in England,
l. ell |