New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-06-25

%
lS2l----- H573,OOO- 5000 32i
Here was a period of great distress, conse-
quent upon period of large importations, by
which manufacturers throughout the coun-
try were ruined.
With 1924 came the moderately protect
i've tariff of that year, and the revenue in
the fiscal years 1926 to 1929 ranged between
twenty-Onc and twenty-five millions, thus
showing a considerable increase in the
power to purchase foreign merchandise,
consequent upon even slight protection
The revenue exceeded the expenditures,
and the debt was reduced more than twenty
millions.
Next came the strongly protective tariff
of 1898, and now the revenue grew rapidly,
showing rapid increase in the power to
purchase foreign merchandise. Here are
the figures of the revenue
1929 $4,000
S30-3l 2s02b,OOO
1912. 3lo9O,OOO
SO rapidly had it grown under complete
protection, that 1t now became necessary to
abolish the duties on tea, coffee, silks, and
numerous other articles, and thus establish
perfect free trade with several important
communities of the world, notwithstanding
which the revenue of 1923 reached the
enormous sum of S33, 94S 900, and this with
out the necessity OF contracting the slightest
debt abroad. On the contrary, the foreign
debt was dailV diminishing, by the eXtinc-
non of that of ,he General Government, and
at the close of the fiscal year 1854, the
debt that remained unpaid was reduced to
1851 .OO0. The reduction Of debt from 1916
to 1926, ten years, was thIrty-SiI millions,
while that from lS2S TO 1891, NI years,
was no less than SIty-Seren millions.
We beg our readers now TO review the
above figures and to remark that the free
trade period from 1917 commenced with a
large revenue which steadily decreased In
amount until in 1921 it was less than one
third of what 1t had been in 1916 and that
the highest point it reached thereafter until
the passage OF the tariff Of 1924 was but
$50, $4,000 Next. that in the moderately
protective period from 1924 to lS2S the ave-
rage rose to about enty-lour millions, being
ahigher point thanithad ever before reached
except in the years 1916 and 1877. Lastly,
that under the highly protective tariff Of
1928 it sretr steadily until in 1928, when
the movement was stopped by the passage
of the compromise, twas rapidly approaching
toward the level of the exceptional year
1916. notwithstanding the vast increase in
the list of free goods in 1892. when every
thing was freed from duty that did not come
into competition with our own domestic in
dustry. The Times desires that we should
test our system by its effect upon the reye-
nue.. and the advocates OF Protection need
( desire no other standards by which to have
/ their claims determined.
/ Under the Compromise Tariff, the rese-
nue. rose IN 1885 tO-------~----------. S55 430 O0b
And IA 1896 5).s26.O0C
Here was The eliminating point. Enor-
nous imports now destroyed the manufactur-
ers of iron and of cloth, and theuceiQrward
there was 4 diminution in the power to pay
for foreign merchandise, and with the'declne
of the revenue came the growth of private
and Of public debt, both the legitimate oil
spring, IS we see, of the suicidal system
which looks To building up foreign COM
merce upon the destruction of domestic in
dustry The following are the figures of
succeeding years
Reyeuue Debt created.
/ ---------. So. S90tsO S2992 O0)
leSs'---------------,-----. p, 800 eco l2.Ti6O00
/ lSSg----------------,----.- 30,033OOO 3,s57 900
ie4V'-------.-..,--.-----. i5,44e,O00 5.5s9 600
/ e4l----------------------- l6,s50oO0 l3,5G9O
In 1he years thus rs.,l tfa-. ,.-. -a..,,t g. nal