New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-06-25
ti1cNN rrOfectIre OneS :.

rERIEer PROTECTION Public revenue Movement Of debt
ls30--------------S24.Si4 OOO)
/ 1881 -------------- 2s,526o00 ALL PAID OFF.
ls32--.--.---.-.-- 3l,S56O00)
| 1888. ------------- 33.9lSOOO
iS44---------- 1920 C 900 Eight millions paid
lSij-----.-.----- 29,9il 900 '''''0'' pos"
lS4G--.---.----..- 1885, 900 ~"
The history Of our attempts at adopting
the British free trade system is the his
tory of the decline and fall of the public
revenue, while the history of the system
which looks to the protection Of the Amsri-
can laborer is that Of a people whose ability
to contribute to the maintenance of Govern
ment is daily increasing. The former Is the
history of the creation of public debt, While
the latter is the history of its payment.
The eliminating point of the free trade system at The
close of the war was IN lSl6, when the revenue
reached 81 OiOuvc
Tha OF the compromise was IN 1896,
Wien u reached 50.S26 900
The first fell of TO fourteen millions
ana the second to sixteen.
We have again touched the point
OF a revenue exceeding --------------- 10UOoOOO
Whether or not we have yet reached the
point of elimination we will not say, per
would we undertake to decide whether after
we shall have passed that point the revenue
will fall to twenty-five, twenty, sixteen or
fourteen millions
Under the protective tariff of 1928 the
expenses of Government were small and
the revenue 50 large that we paid of the
debt Under the compromise, free trade
system. the expenses were large and the
revenue so small thatwe accumulated debt
of thirty millions Under the protective tariff
of 1912 the expenses were again so smalland
the revenue solargc thatwe reduced the debt
eleven millions, and should have paid 1t
off entirely in 1917, but for the war with
Mexico. the measure OF our free trade! par
". Under the system of 1916. still main
tanned by Mr. Walkers friends in Congress,
expenses are enormous and large as Is the
revenue, no debt can be paid off. What
amount then will have 10 be created after
the revenue has passed the point of culml-
nation 10 those who seek an answer to
this question we recommend attention to the
fact that the last year of the compromise
gave us a debt of thirteen millions, and that
since then the expenses Of Goyernmenthaye
enormously increased.
From the point of elimination IN 1916 to
the establishment of the first really protect
i've tariff in 1928, there elapsed tceire years
of poverty and weakness. From that point in
1886 to the passage of the second seally
protective tariff in 1912, only half the time
was required, there having passed but Sir
years of almost universal ruin. From the
point of elimination under the tariff of 1916,
the former rule would give us three years,
and we entertain not the smallest doubt that
the lesson that will be learned in those three
wears will suffice 70 cause the tariff that will
then be passed to be adopted as the perIha
nent and fixed policy of the nation.
Having thus placed before our readers, as
we believe, all the facts needed to enable
them to arrive at a correct conclusion in re-
gard TO the important question discussed By
our contemporary OF The Times, we now ask
them TO determine if We have not been right
in saving that It's editors are now as remark
able for their politicO-ecOnomical knowledge,
as they were in 1912, 43 and "A for their
urbauity in relation TO the defaulting States
of Pennsylvania, Maryland, Indiana and Hi
nOls We know of no journal in Europe
more disposed to bend the knee to the rich
and powerful, whether merchants. ministers
or natiOns-none more disposed 70 trample
on the weak and helpless-and none more
disposed 10 boast of the nagnanimity and
generosity Gifts counuymen, It's own mag
nanimity toward those in misfortune IS that
of the disappointed bagman, and thus does it
prove It's title to be. of all the British Jour-
nails, the representative, par excellence, Of
- nation OF shopkeepers."
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