Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1848-01-07
The Presidents Message..again.

The Presidents Message..again.
A few days ago we presented to our readers
the very able review, by the Editor of the Ma.
tional InteHigencer of the War part of the Mes
sage Of President Polk. We undertake to say
that those of them who read it, (and we trust all
did, have not forgotten its powerful and concu-
sive exposure Of the miserable, yet dangerous,
fallacies with which the President endeavored to
blind and misead the popular judgment, and they
will thank us for laying before them another
article, from the same pen, on the equally UNI
sound and pernicious Free Trade fallacies Of the
unfortunate argument of Mr. Polk, miscaled
the Message" The National Ltelligencer,
has followed up its searching examination of
this mendacious State Paper in three more ar
ticle, (making five in ally, and we are satisfied
that we can in no better way subserve the cause
of truth and sound Wing Principles, than in
copying them. Mr. GALES, their author is en-
titled to the warmest commentator for these
luminous expositions. The following is No. o.
From the National lntelligencer,l
FREE TRADE DOCTRINES AND MEASURES.
The President congratuates himself on the working
of the New Tariff. Some analysis OF its action in
comparison with that OF 1912 will show with what
reason he reJoices in it.
The President gives the amount of imports for
the last fiscal year ending June 30, 1877, which
exclusive of spece) Sl22 424 3i9, on which the duties
amounted to 1923 IA ,s6i. The imports of merchan-
iss smd"aes srsif f. Rs d enenS
!, The imports for the year ending June 30, 1915, with
like exclusion, were Sll3,29l 600; the duties S27,-
5000.
Now, very simple application Of the Rule of Three
will show that under the tariff of 1912, the impora-
ton of the last year would according its result for
the year ending June, 30, 1915 have given revenue
of 500 0OO 900 according to its result for the year
ending Both June, 1916, Il revenue OF S276OO,OOO
This discrepancy is owing to the slight annua uctua
ton n the popof'on OF Tree Eo9ds ana OF those pay
it is selt-cvden that the loss OF revenue the last
years Importation by the substitution o. the tariff of
1916 for that of 1872 is at least frc millions of dol
lars and this notwithstanding it had been in opera
ton but seven months OF the year This circumstance,
however, is not OF much Importance, as shipments of
goods which the duty was reduced were kept or
sent to custom house stores for future entry during the
last months of the tariifo 1912. The President and
{ his Financial Minister, attempt they may to give a
different aspect to the matter Will fail OF their object.
There is escape from the fact that, in point OF
alone, the tariff OF 1916 suicidal sacrifice
of five millions of dollars, on an average of our annual
imports, and this after the commencement OF most
expensive war.
What more undignited, fallacious, and unfair than
90 from the regular fiscal year, ending Both June,
ITO which the accounts are made up TO compare the
astronomical years 1916 and 1917 for the purpose OF
: drawing conclusions favorable to the tariff OF 1916
when, truly presented they lead to conclusions, direct
ly opposite
In the first place the imporatons of the last months
of 1916, up to December, kept back, already
stated to wait the operation of the tariff and OF
course the imports OF the first months of lS47 were
proportlonay increased as fully appears by the actual
: imports of the fiscal year ending 3O,h June In the
second place, the famine in Europe and the specie
10 this country to purchase food produced OF
n
greatly increased importation of merchandise, espe-
cally during the latter part OF the present year.
Under the additional stimulus OF Mr.. Walkers Ia
riff this import has been decidedly great fol- our
comfort, we find in the turn Of the exchanges
whereby are losing our specie, by every packet
and steamer that sails tor Europe, nearly quite
fast as it came in year ago.
The consequence is violent contraction the part
G OF the banks, pressure on the money market in all
the commercial cities, which will soon extend TO the
II interior unless checked by the cessation OF these undue
= and excessive imports The Presiden, estimates the
duties occtuing from December 1876. to December
o 1917, at thirtyone and hall millions OF dollars lie
does not give US the amount OF imports, which have
produced this amount OF revenue but 1t can hardly
iali short OF one hundred and sixty millions OF dollars
a exclusive OF specie Now, one OF two things is
occasionally true Under the tariff OF 1912 we should
y have had had the same amount OF importation, or we
). should not On the rst suppos'lon we should derive
revenue from it OF about forty millions OF dollars in
stead OF thJ,yone and hall millions On the last and
, most probable supposition OF diminished importation
we should be in state OF comparative ease cities
9, would not be writing under money pressure of
-, or one and a halt per cent, month"; watching with
y intense interest the clearance OF every and
Is packet how much gold and silver, the lie blood
of our circulation, is being drawn from The i'm
port OF specie always produces prosperous state o.
d trade and industry Its export the contrary, is al
ways viewed with alarm, and, when carried beyond
u certain point certain to parayze all commercial OPP
\, erons. The only OF an undue export OF spec.t
is an excess of imports To this branch OF overradt
n this country has always been peculiarly subject
|. leading motive to the establishing OF the proectv,
system to check this excess of iulport and give