The New York herald., 1850-06-04

IL Will be this table that there steady
bat rapid increase in the value of foreign
imported into the United States, from 1929 to 1887
when they commenced falling OF. An increase in the
value Of exports will also be noticed but it limited
compared with imports for there at work
calsuatedto check exports while they particu-
larly influential in swelling our imports The above
table shows increase Of bank loans from $500 4l4
ala in $780, to Ss25115,o2 in 1887. The circuatons
Of the banks In $780, amounted to $e S0s and in
1887 to 500 showing increase in six years
Of enc hundred and fifty per cent in each OF these
Mcms-a similarity Of movement calculated to convince
every unprejudcia mind OF the intimacy Of connec-
tien existing between them. That the banking move
ment Of the country at that time the Of the
immense importations, can for moment doubt
In 1882 the compromise tariff commenced operations
at very high rate Of duty; high that in period
Of years with annual reduction in the rates. It
not to fall below average Of twenty per cent
and In the face Of the highest rates ruling under that
act, Hnd the imports atoms Increasing from $1o1-
o2eo in 1882 $3.50 o35 In 1885, How does this
fact agree with the theory Of the protecioniss-that
high duty is necessary to check importations, and
encourage the industry of our own citisensi
From 1873 to 1882, the tariff highly protective,
much to the attempt on the part Of
South Carolina to withdraw from the Union, and set
revenue laws Of her own and to create much dis
satisfaction throughout the South generally, that
nothing but the celebrated Compromise Act Of Mr..
Clay saved the country from vast deal Of political
asitatonand disturbance and st the balance, is
called was annually largely against NJ. 1t thus ap
pears that the operation of high tariff 1t time, is
directly the to what IL is another and just
with low tariff The movements Of the banks have
more influence upon foreign trade than any kind
Of tariff In 1882, the great bank expansion
msnsed. The old Bank Of the United Slater, and the
State banks carried on the contest for four years
when the former went into Liquidation and the latter
houndsred along another year, and then suspended
specie payments. This expansion originated In deter
minaton of President Jackson to wind up the United
States Bank and Was accomplished by the determina
ton Of Nicholas Bddle to make the most Of the bank -
long a. It lived This gave the impetus to foreign
trade, which resulted disAstrousy to all engaged
In 1887 the suspension Of specie payments relieved
the hanks and the commercial community and FOR .
tms nportations materially restricted but State
credit proved good substitute for bank credit, and in
1850. the importations were only about twenty nvs
millions less than those Of 1896 having increased any
millions ffom those Of the previous year Deiinquen
sy and repudinton the part Of some Of States
proved great restriction upon the import trade OF
ths country the bank explosion In 1887, and our
isportations fell on from sle2 2132 IN 1889, to
ey In the arguments OF those advocating high tariffs
rhe Compromise tariff Of 1882 expired June 20, lS42
The Of posts 1ss2in the lowest OF that
ac-was 500 os7 while in 1926 six years previous
when the compromise act had been In operation only
four years and the duty therefore ranged much high
sioo1o2os7 In 1s42 This brings to another fAila
sx the value Of imports was slse osoo35 How can
these facts be reconciled to prove the soundness
OF their position,
within the past three years, several very important
movements have Influenced our import trade The fA-
mine In Europe In ls47 gave extensive markets for
breadstsffs abroad payment for which was made,
partly in bullion and the balance In merchandise This
increased our importatons. In 1913, the revusions
and revolutions In Europe depressed their home mar
kss, aud compelled the manufacturers to seek them
ssswbere aud their attention mt such times Is usual
Iy turned TO this country, and received large sup
pliss Of merchandise, which originally intended
for European consumption. The discovery Of gold
In California, in lsis, gave another impetus to
eur import trade. The mines not worked much
the nrst year their influence upon trade and COM
ueree vas not, therefore. much felt untn the next
yesr-ls4e The production has since been so great
and the prospects catering, that mmen emf
grafton has been steadily setting towards the shores Of
that country, and enormous consumption Of all
binds of goods already realised The imports this
yesr have been very great but the shipments Of gold
from San Francs-o Great Britain and other parts OF
tie World With large remtances of stocks have equal
issd srchspgss and hanks have been able TO hold
on 10 their spscie Had ,hs tariff been ten times more
protective than 10 TO- IN. irporsation. would have been
equal, large and a. i absurd 20 attribute the fact
that have consusd sueh large quantities. % foreign
nspusActurss The ahssnss Of higher rate % duty
He~s,er u is the cuiy .rFamsnt th. protsetioui.ts
have and thy have harssi upon that string long
that 10 con pictsly oftune. aud is therefore
dl.cordsn NJ that a. " vii listen 90 n.