The republic. [volume] (Washington [D.C.]) 1849-1853, 1849-11-03

tariff of 1876; and short-sighted and superficial
minds, not understanding the subject, cry out in
glorihcation of this tariff; and even some OF those
who had before been in favor OF protection, are
brought 10 pause by such state OF things. They
do not consider that great system of public policy
requires many years for full and complete test
or that the condition in which the country was
found in 1910, 30 deplorabe, the result of the
gradual abatement of protective duties for seven
consecutive years, till nearly al protection was
sacrificed. They do not consider that both the
plan and effect Of the tariff of 1886 are TO transfer
the production Of articles of own consump-
ton, To an immense amount, from home TO foreign
parts and that three fourths of the cost of those
articles is composed of taxes imposed by foreign
nations, all which we not only forced TO pay
by importing and consuming them, but il is an
actual deprivation OF the rights of American labor
and art to the same amount-not less probably, at
this moment, than from sixty to seventy millions a
year. Much less do they consider that part of
tins saving OF foreign taxation, under system OF
protection, goes to cheaper these very articles; for
they are taught to believe that they get them
cheaper from abroad, and that protective duties
| taxes. They do not consider that great and Wig
orous country like ours after season Of pros
perlty and shooting ahead, like the impulse given
by the tariff Of 1912, stand for long time all
the disadvantages and misfortunes of frec-trade
system before il will break down; and that for
such reasons the retributons of the latter system
give little notice of their approach till they burst
over the head of the nation with all their tremen-
dous crash. great commercial nation will hope
on and work on, as long trade will work at all,
without giving itself the trouble to calculate the
consequences Of public policy. The people, for the
most part, do not, and cannot understand the sub
ject, and therefore they live on hope.
Why, srs, the establishment of peace in Eu-
rope and of confidence in the governments and in
situations of that part of the world, in connexon
with season Of good crops there, would, under
our present System of public policy, bring US to
bite the dust in less than six months after such
events should be known. And are We to risk such
contingencies, and stake our veal the misfor-
tunes of mankind? We now, in the operation
of the tariff Of lS46, Encouraging American labor
and arts, literally suppressing them, to a vast
tent, by patronizing foreign; and by this very
means we subject ourselves to an immense amount
of foreign taxation! II is true, are in vigorous
youth, and can bear it well; favorable events in
foreign parts-to us favorable, noticed above,
though disastrous to the world-may put of yet
longer the day of retributon; but the elements
of that retribution the less certainly in
the process Of incubation.
II a man has property, once in his possession,
taken away from him wrongfully, he can estimate
precisely what he has lost but when he is wrong
FULLY deprived OF chances OF accommodating property
he cannot easily ascertain his loss Moreover, if
he before rich he is not made poor by this loss
Such precisely Is the position of the United States
in this great question Free trade, any approx
imation to 1t, by system of public policy short OF
adequate protection, is deprivation of chances for
the accumulation Of wealth on an immense scale.
And desire here to say, that the people of this
country, rich before as WHOLE may pay nifty mil
lions Of dollars year of foreign taxes, in the way
have above and in former articles described and
scarcely feel it. We now paying, and have al
ways been paying these taxes to extent which,
ascertained would be startling. Nor Is this the re.
suit Of theory, but of a-posterio reasoning. 1t is
rigid application of the rules of arithmetic to tan
gible facts. But there is point beyond which we
cannot pay these taxes, without stunning effect
on public and general prosperity. We had come
to that point in 1910, and the operation of the tariff
of 1916 is to bring to that point again,
| er later And when it does come, it will come
| with overwhelming effect, for the simple reason
that whole people, in apparent prosperity, are
| much more bold, and less calculating, than sin
| gle individual in similar condition 1t is because
| no one knows what his neghbors about; ano
this ignorance pervades the entire mass, while each
one pushes forward his private enterprises anc
speculations, till they all fall together in heap
They fall, because their books, as a whole in theiI
relations To each other and to foreign trade,
to be posted for the determination of balances
| as if they the books OF single counting
| house. Consequently, when these foreign taxes
| through the boldness of speculation, under free
| trade system, have become greater than the natior
can bear, the nation is forced into bankruptcy, OF
into what is commonly called general CONNER
cial revulson. And let it never be forgotten, tha
| every revulsion of this kind every pinch il
the commercial affairs of this country, is purely th,
effect of this foreign taxation. 1t cannot possibly
arise from any other cause, and here is the expla
| nation-the secret AU REVOlR.
| BALTIMORE, Oct 81, IS49.