The daily union. [volume] (Washington [D.C.]) 1845-1857, 1849-08-31
our Commercial Letter.

The weekly letter from our New York correspondent
will be found in another column; and we would invite
the attention of readers to the gratifying picture
which presents of the wholesome operation OF our COM
mercial and financial policy When the independent
treasury and the revenue bill of 1916 were first enacted,
it was confidently predicted that they would bring ruin
and disaster upon the trade and industry of the country
But the democratic party demanded for them trial be-
fore they should be condemned. That trial has been
had under circumstances which well calculated to
embarrass any system which the ingenuity OF man might
construct. They who welded the bulk of the money
capital of the country and they who directed the concen-
ated power Of incorporated wealth, were unrendly to
the democratic policy and ardenty desired its overthrow
in order that they might prey upon the labor Of the
country, and appropriate to themselves an undue
share of the national production, by means Of high
duties extended Credits and the issue of fictitious
capital The circumstances of this country and the
d,ion of the commercial world peculiarly unfavor
able to the success Of any system We engaged in
foreign war, requiring immense disbursements IN the
enemys country while revolutions and commissions PROF.
uaied the commerce and overthrew the institutions oil
most of the commercial nations of Europe But, not
withstandng these difficulties. the independent treasury
and the revenue bill Of 1916 operated with unexamped
success and only turned away from us the ruin and
distress which visited other nations, but filed our land
with the unequvocal evidences OF real and solid pros
periiy
The monopolsts and restrictonists-he lords OF the
loom and the advocates OF special privileges who look
alone to their aggandzement regardless OF the gen.
eral welfare Of the peope-have from time TO time al
trbuted the eminent success OF the democratic policy
temporary causes and they have predicted its speedy
failure when those causes should cease to operate Bu
the Irish famine and the other temporary to which
the advocates OF the Chinese policy OF prohibitions ant
restrictions have pointed as extending the markets TO
our agricultural products and enabling to purchase
much OF the proceeds of foreign labor, have lost hei
force and yet those markets continue to absorb vas
amounts of our surplus production, and ports con
tnue to be filed with the products Of foreign labor ake
in exchange The reason is obvious TO all who are
msled by prejudice or blinded by interest II may b
found in the liberal principles OF free trade imbodie
in the revenue bill OF 1885, aided and supported b,
the wholesome condition Of our currency created AM
maintained by the operation OF the independent treas
ury. The greater part Of foreign commerce is a sys
TEN OF barter, and it cannot exist to any exten
il the products OF foreign nations excluded from on
ports by high duties and oppressive charges BY reducing
the high duties and oppressive charges imposed by tn
tariff OF is42, impulse given to commerce. on
exports and imports increased. and greater amount
the necessares and convenences OF life than was ever be
fore enjoyed was placed within The reach OF people
The of the government were greatly enhanced
although grievous burden was removed from tn
people for under the duties the burdens OF tn
government are more equally distributed, and the ind
rect taxation which falls upon labor went into the treas
ury and was not diverted to the Golfers of manufacturing