The Davenport gazette. [volume] (Davenport, Scott Co., Iowa) 1841-185?, 1851-11-06
from the New York Tribune.
WHAT WE ALL KNOW.

| From the New York Tribune.
WHAT WE ALL KNOW.
Men can talk and talk forever on alb
s,ract questions Of Political Economy
] lGoldsmiih's schoolmas,er who teen thougt
sanquished, could argue still, was type Q
a very large class, especially when thei'
pride has been aroused BY controversy OF
their pockets touched bv what they fancy
heir own interest We desire, therefore
fur this once to ask all Americans 10 for
get their rival theories and consider intent
Is few indisputablc facts which stand ou'
broadly and prominently on the char, Of onI
National History through the last len
/ wears. Some things we NAV not clearly
,pprehend. hnt these things we do know.
l. We know that, ten years ago, our
country was jisi arrived at the consnmma.
ion Of an annual reduction of our Tariff
during The nine wears preceding, from the
Trade. with duties Cor Revenue only, none
Of which was ,ienceforth 10 exceed twenty
per cent.
g We know that the general Industry
ofthe Country was by no means so prosper
tns towards the end Of this Compromise
decade as it was at the beginning; that
Manufactures were stationary, retrograde
or paralyzed; that Agriculture was poorl,
rewarded and declining also; and that even
he Importaiions had go fallen of, by reason
of the decline Of onr ability 10 buv, that
The Rerenue Tariff was affarding only
Twelve to Fifteen Millions Of Revenue per
AMMAN, or hardlv.hafen for the legii
innate wants ofihe Government.
3. We know Tint the Government was
compelled. in time Of profaund pence.
and with no, less ,han One Million Dollars
ofin,erest 10 pay early. 10 resort TO ex,en-
sive borrowing TO meet its expenditures.
4. We know that tho our entire Ma
tional Debt was less than Ten Millions
aud cur Annual Expenditure no, Twent,
FIVE Millions. our Agent sent 10 Europe 10
nerofaie a Loan nf Twelve Millions. was
utah'e 10 obtain bid fer dollar Of L. s.
Six per Gents, having fifteen years 10 run.
but was everywhere met with civil refusa
y iIlconcealed derision.
B. We know tint lie Tariff If 1912 was
enacted vi en- tie Indu Try, Finances and
Credit Of the United States were in the
rcrdI,ion above set forth.
6. We know that under that Tariff In
das,rs. Commerce and Credit experienced
sudden and almost magical improvement;
that labor throughout the country found
new emplo, ment, better wages and better
prospects; that our ANIMAL pradnct Of Cloth.
g w ,..l Il
rally was rapidly extended--ihat thousands
were enabled 10 earn Sl2 10 $50 per week
in making Iron, building Factories or Fur
naces. constructing Machinery &c. ..whn.
only two veers before, would heen glad to
work for less than half as much if they
conld have found any thing 10 do; and that
even Foreign Commerce signa'iy felt the
general Improvement, by reason Of the in
creased ability Of our consumers to buy.
while our Internal Trade was enormously
and universally extended.
7, We know that under this Protective
Tariff, so bitterly stigma,iZed as anti Rev
cnue and an,- n,-Commercial, our Revenue
from Imports rapidly rose from Twelve Mi
lions 10 Thirty Millions per annum, pat
ting an end to the necessity for borrowing.
and en- hing our Government 10 begin pns-
ing; while our Stocks. which had jnst he
fare heen refused al par hy every banker IN
Europe. were now in eager demand there
al premium of ten or twelve per cent.
e. We know that the election Of Polk
over Csv ia IA secured, and that the ses
sion or 1916 witnessed. another reversal of
orr National Policy. whereby qualified
Free Trade ascendnncv was re-estahlished
This act took effect at the close Of 1916.
but various influences. including the Rail
road mnnia in Crest Britain. the short crop
throughon, Europe, the Irish Famine Of
lSi7 and the strong tenaciiy of life in our
Young and vigorous Manufacturing esiab
li.hments. prevented its consequences be-
ing fully realized for considerable time.
g. We know that the large prices realiz
ed for our Grain exported in the Famine
wear. The high price Of Cotton through the
las, two years, the discovery Of Gold in
California and i,s enormous Weld up to
this time. have prevented or deferred the
crash which The heavy excess Of our I'm.
ports over our exports was naturally caicu-
lated to produce.
10. We know that our IIarves's have
been houn,ful our Exports large; the Brit
ish Corn Lnws long since repealed; con
siderable influx fSrecie caused BY the 81
gautic current Of Immigration; while our
People have been as industrious as the pol
icy Of the Government permitted, and our
Commerce extensive, prosperous and un-
disturbed through he last four years.
Why, then, Fellow Citizens. does Spe-
cie flow away from us 10 Millions! Whs
are our torge-fires put out. cur furnaces
closed, many factories silent and for sale
hy auction, our lnborers roaming from
State 10 State in quest of work-whole vil-
lagos deprived Of employment and suhsist-
ence in day? WHY is the rate OF ex-
change so heavy agains, Us in spite OF our
ENORMOUS shipments Of Specie! Why are
our Agricultural staples SO depressed?
WHY is our currency so violently contract
ed and shaken: Why are our heaviesi
merchants breaking? Why arc good
Stocks depressed twenty. FIVE per cent. be-
low their value? Whv is money eagerly
sought for or good paper a, rates notorious
lv exorbitant! In short, why have -four
years Of exceptional Free Trade brought
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