New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-12-23
Whnt should Rc Done.

w h0t Should SC DoDcs
The general facts that in a state of pro-
found peace and of general prosperity, we
are buying abroad many Millions worth
per annum of the Metals, Wares and Fab
rics for which we do not pay, and are run
ming deeper and deeper in debt, cannot be
gainsayed. The statistics embodied in and
appended to Mr.. Corwin's Report are ab-
solutely conclusive on this point, if the
facts passing before every mans eyes of
Railroad bonds by reams going to Europe
to pay for Railroad Iron were not of daily
notoriety. 1t is just as true-as any one
who will inquire may ascertain-that the
Labor which would gladly produce the
Metals, Wares and Fabrics for which we
are plunging Fifty Millions year in debt,
is standing idle OF working to little purpose,
because it cannot now find the employment
of which it has thus been deprived. If we
were Tomorrow to diminish our Importa-
tons by Fifty Millions per annum, and
supply the vacuum by Home Production,
we need not and would not grow one pound
of Cotton nor one bushel of Grain less than
we now do. Only let the word 90 forth
that One Hundred Thousand Workers,
male and female, would be wanted in our
various Factories, FORCES, Furnaces, Ma
chine shops, &c. between this time and
April, in addition to those now employed
in them, and, though many of those thus
required would be drawn from other avo-
cations, their places could be promptly
filled by other denizens of our cities, vii
lagos and townships, now standing idle or
engaged in some merely subsidiary and I'M
productive employment. Only secure the
work to those ready and eager to do it at
fair, living prices, and we can make Fifty
Millions worth additional of Iron Steel,
Cloth, SC. next year without diminishing
by Five Millions worth the annual pro-
duct of other avocations. Give US fair Pro-
lection by Specific Duties, and we will add
full Fifty Millions per annum to the ag-
gregate product of the National Industry,
stop the accumulation of Foreign Debt and
commence the payment of that already ex-
listing, while securing ampler and steadier
employment and a more liberal reward to
the entire National Industry.
These are not mere predictions. We
speak what we do know, because we only
affirm that what has been will, under like
circumstances, occur again. Look back at
the National Finances and Industry from
1928 to 1884, under the highest and most
Protective Tariff we ever had. Were we
then running in debt to Europe? Did our
Industrial and Commercial edihce shiv-
er at every breeze from the London Stock
Exchange ? Were our factories and FORCES
compelled to stop by famine or a convu!-
sion in Europe Not at all. 50 in the
years which followed the enactment of the
Tariff of 40. That Tariff found the Ma.
tional Industry at very low point-the
Customs had fallen to less than Fifteen
Millions per annum under purely Reve-
nue. Tariff, they were speedily carried up
to Thirty Millions by Tariff essentially
Protective and in some instances practically
prohibitory, Leave the present Tariff I'M
touched for few years longer and it too
illdestroy the Revenue from Customs by
undermining and dwarfag our ability
TO pay The policy of keeping our
own labor idle because we can buy
our fabrics abroad cheaper than our
workers would produce them, never had
and never can have any other results than
these: Excessive Importation, involving
heavy Indebtedness abroad next, falling
off in Home Production caused by the