The southern press., 1851-12-18
From the London Times, Nor. l6.
The speech Of EX.Seerctary Walker In
England.

Among The straws caught by some drowning
politicians IN this country, has been a lurking
hope that America, growing sick Of free trade,
and ambitious Of an absolute commercial indie.
pendcnce, was about TO screw up her tariff 10
It's former malignity. So splendid an example.
II was supposed, could not be without effect on
this side the All .nlic, and either from simple re-
venge, or as the natural way of meeting such
movement England was TO close her larders
against American bread, meat, cheese, and but
ter. At one time Polk was the man, then Tay
Tor, thea Fillmore, who was TO lead the game Of
mutual Exclusions. This We year a mares
nest, for We cannot call il anything else, of
most singular character possessed the imaUina
tion of a lively contemporary, and we were told
that the tree trade tariff Of 1876 had been yrtu.
ally condemned at Washington, and was in The
act Of being repealed. Exclusive inf rmaton
sas boosted for the fac, and the information.
strange TO say, has T manned exclusive 10 thi.
very nGur. The American tariff Of 1876 re-.
Lains without alteration. But IL hope still
fingers, and If anybody really thinks that the
United States are about TO commence a retro.
grade career in finance, Mr.. Walkers speech at
the Liverpool dinner ought entirely to dispei
that delusion. Putting aside its ability and eIo
qu"nce, which speak for themselves, the mere
statements in his address are Of such gravity and
force as to assure Us that the question If as SET
lied on the other side Of the Atlantic as on this.
and that New York will never again set up her
back at her sister on the Mersey. The brief
history Of American finance, and its results, from
lSl2 to September 30, 1851, may be confidently
set against all the wordy nonsense spoken and
written on the other side of the question, in
this or any other country and were il not for
had mt - -
ested classes, would be enou ID TO convert all The
world to commercial freedom
Referring the reader TO the speech itself "a,
the figures OF the case, we need only state be,e
the general eff ct of comparison instituted by
Mr.. Walker, between the operation of the Am
efican tariff of 1912, and that of 1916. In the
latter was tried the bold experiment of reducing
the duties on imports to about half what thew
had been in the former. From whatever reason
and, OF course, il must be admitted. from n
multitude OF reasons--it has come TO pass that.
under the late Tariff the aggregate revenue, th,.
aggregate customs upon imports, the exports.
the shipping, and Ill the external signs of pros
perity, have Increased to much greater amount,
and at much higher ratio than under the
former. And if it be replied that very likely
the foreign trade, and whatever depends upon il,
have improved u lder free trade tariff, bat that
the domestic industry may, nevertheless, not
have improved, Mr. Webster points out t at the
improvement at home has been as great, If not
greater, than that Of the foreign trade, that DO
puiation, rail ways, and every sign of increasing
employment, comfort, and wealth, have advanced
with giant steps; and that the United States.
after founding a new State on the shores ofthe
Pacific, and receiving a million and half Of
our eounrymen, more or less destitute, within
the last seven or eight years, are now enjoying
with England, large surplus of income over
expenditure, and are ia fair way to be once