New-York daily tribune., 1851-09-30
what We all EEcsF.

cil4La4+ = i4Aff.-.A.ls'
vaner..hcd. .uld argue ,til,' was type o'
4 very large rlass, especially When 'ne"
pride has been aroused By controversy OF
their pockets touchcd by what they fay
their own interest. We desire therefore,
for ,bi. once 70 * al Americans to forget
their r;vsl theories and consider 'ntendJ
few indisputable fct, which stand oat
broadly and prominently on the chart OF ouT
National History through the last ten ycars.
Some things We may not clearly apprehend'
but these things we 90 know.
I. We know that. ten years ago, our
country was Just arriving at the consumma-
ton of an annual reduction of our Tariff
during the nine years preceding, from the
standard OF Protection 70 that Of Free
Trade, With duties Tor Revenue only, none
of which was thenceforth 10 exceed twenty
PEI cent.
:. We know that the general Industry of
the Country was by 10 means so prosperous
toward the end Of this Compromise decade
Is il was at the beginning that Manutac-
lures were stationary, reuograde or para
lived that Agriculture was pOorl y reward
ed and declining also and that even the
Impoltations had so fallen of. by reason of
the decline Of our ability to buy. that the
Rlrcnuc Tariff was aifording only Twelve
TO Fifteen Millions Of Revenue per annum,
or hardly half enough for the legitimate
wants of the Government.
3. We know that the Government was
compelled. in time Of profound peace. and
with less than One Million Dollars Of IN
terest to pay yearly. to resort to extensive
borrowing to meet its expenditures.
/. We know that. though our entire Ma
tioual Debt was less than Ten Millions and
our Annual Expenditure not twenty-five
Millions, our Agent sent to Europe 10 nego-
tate Loan of Twelve Millions was una
bic to obtain bid for dollar'of L. 5. Six
per Gents. having fifteen years to run, but
was everywhere met with civil refusal or
ill.concealed derision.
). We know that the Tariff Of 1912 was
enacted when the Industry, Finances and
Credit Of the United States were in the
condition above set forth.
Is. We know that under that Tariff In
dustry. Commerce and Credit experienced
sudden and almost magical Improvement
that Labor throughout the country found
new EMPLOYMENT. better wages and better
prospects that our annual product of Cloth,
Iron. Coal and Of Wares and Fabrics gen.
orally, was rapidly eXtended-that thou
sands were enabled TO earn Sl2 to $50 per
week in making Iron, building Factories or
Furnaces. constructing Machinery, Sc. who,
only two years before, would have been glad
to work for less than half as much if they
could have found any thing to do; and that
even Foreign Commerce signally felt the
general Improvement, by reason of the m
creased ability of our consumers to buy,
while our Internal Trade was enormously
and universally extended.
:. We know that under this Protective Ia
ria, So bitterly sugmatized as anti-Reyenue
and antl-Commcrcial, our Revenue from I'm
ports rapidly rose from Twelve Millions to
Thirty Millions per annum. putting an end to
the necessity for borrowing, and enabling our
Government to begin paying while our
Stocks. which had just before been refused
at par by every banker in Europe, were
now in eagor demand there at 4 premium of
ten or twelve per cent
:. We know that the election of Polk
over Clay in II secured. and that the >es-
Slon If lsi6 witnessed, another reversal of
our National Policy, whereby qualified
Free Trade ascendancy was reestablished.
This act took effect at the close of 1916.
but various influences, including the Rail
road mania in Great Britain, the short crop
throughout Europe, the Irish Famae of
1911, and the strong tenaclty OF life IN our
young and vigorous Manufacturing cstab-
hshments, prevented its consequences being
fully realized for Il considerable time.
O. We know that the large prices real
ized for our Grain exported in the Famine
year, the high price Of Cotton through the
last two years, the discovery of Gold in
California and lis enormous weld up to this
time, have prevented or deferred the crash
which the heavy excess of our Imports over
our Exports was naturally calculatedt to pro-
duce.
10. We know that our lIaryests have
been bountiful, our Exports large; the
British Corn-Laws long since repealed