New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-02-04

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Mr.. Carey's fifth chapter opens as follows
THE TARIFF or 1856. -,
The year 1886 brought with it greai e cuAns9
in the commercial policy Of The coahI{, - ~
vocates Of the policy erroneousiy az ir.-i,F e
Trade" asserted that the effect OF tue farm oi
First. to divert labor and capita from pursuits
,bs, Jid not need protection TO those that did need
II and thus 10 diminish the return 70 O0tn.
Second. 70 raise the prices OF foreign commodi.
ties and thus enable the domestic producer oil
similar ones 70 impose tax upon the consumers
for his especial benefit, and thus diminish the
power Of the laborer to obtain food and clothing.
Third 10 diminish the market for food and cot
ton wool and tobacco
These views were either true, or they were not.
II true, the return TO labor and capital should
have increased regularly and steadily from ls4o
70 the present time and at a rate more rapid than
that Of the increase from lsl3 to lsiI. II only
partially untrue the rate Of advance should nave
diminished II absolutely and tchOify untrue, Ia
bor and capital should be now less productive Of
commodities for the use Of man than they were
IN 1916
If true, the power to consume cloth, and iron,
and fuel, should have increased at a rate more
rapid than it had done under the Tariff OF l642.-
II absolutely untrue, the power 70 consume those
articles must have diminished since 1876.
II true, the people Of the Union should now be
70 the farmers and planters of the Union far bet
Der customers than In 1876, consuming more food
and cotton. Tabsolutcly untrue, they must have
Become poorer customers to those farmers and
planter.
II tue, they must have had so much more to
sell TO foreign nations as to enable them 10 pgy
for more OF their productions. II absolutely untrue
they must have had so much less to sell that they
have become able to pay for less OF those pro-
ductions.
would now beg the reader TO study carefully
the above, and satisfy himself that such is the
mode Of testing the charges against the policy Of
1912: and am the more anxious for this, because
it is so difficult to hold the advocates Of the theory
known by the name Of" + rec Trade" 10 anything
ike fair exposition Of their views Of what con-
stitutes prosperity, and what 1t is that we
should have reason to expect from the working
out of their principles. The great end in view, /
understand TO be that Of finding the system Of
policy under which labor and capital produce
most commodities enabling the laborer and CAPT
talist TO consume most and have most TO SELL thus
Increasing trade within and without the nation
This is, as conceive the true test Of any system
Of policy. By that desire the Tariff Of 1912 to
be judged and by that l ask the reader to judge
She Tariff OF 1876.
In various cases diminution of production has
long since become obvious, but they are ascribed
10 over-production," an idea that had its origin
In the errors of the English politico economical
school. so long as the people OF the world shall
continue 10 be unable 10 obtain as much food cot
SON. wool cloth, fuel, and iron, as Is required Tor
the satisfaction Of their utmost and most uHsed
son06ie desires, there can be no Orer production,
except that which results from inability, on the
part Of those who desire to consume, 20 produce
commodities to be given in exchange. The far
mer desires TO exchange his food for cloth, tuei,
iron, books, or newspapers, but the market IS
glutted with food and he is compelled 20 dispense
with much Of the cloth or iron he would have de-
sired to purchase. Were he now to inquire into
the cause Of this glut' Of food, he would find It
TO result from a diminished demand for labor, to
be applied to the production Of cloth and IRON
The labor Of the class of artisans, miners, and FUR
nace-men had become less productive and there
fore they were compelled to become poorer Gus
toners to the farmer The planter desires to OBJ
lain food, cloth iron, for his cotton, but the
market is "glutted, and he is compelled to
diminish his purchases. He becomes a poorer
customer TO the mechanic, because the mechanic
il poorer customer to him. Increase the de-
mand iorfOod. and the farmer will become better
customer 20 the planter, the mechanic, and the
miner. Increase the demand for cotton, and the
planter will become q better customer TO the
farmer and the mechanic Increase the, demand
for iron, and the furnace man will become better
customer 10 the planter and the farmer. The ex-
btence of "gluts" is an evidence Of great error
IN the system under which they are produced
Their absence is evidence of soundness Of the
commercial system under which they are not
produced. In the years s45 and 1916 there was
no glut Of cloth, or of iron. Consumption was
immense because Of the vast increase in the
power TO produce food to be given in exchange,
and there was no other glut Of food, Of cotton,
than that which resulted from the TACT that the
then rapidly growing consumption, checked during
the previous period Of Free Trade, had not yet
evertaken the supply. There Is now " glut OF
cloth. and of iron, and Of a thousand other COM
modities, because the ability 10 produce food,
cotton, tobacco rice, and other products Of the
earth is now ess than II was four years since,
and there is consequently less TO be exchanged
against cloth and iron as shall now have coca
sion TO show.
In ls42, the domestic production Of iron was
but little more than 800 900 tuns. In 1917 It was
100000 similar rate OF growth would give,
Tor the present year, at least million and half
of tuns. Ii has however fallen 20 less than half
million, and there is reason to believe that 1t
does not exceed 100000. II so, production has
diminished 100000 tuns in three years, whereas
IL increased almost 600 in five years, and not
wiihstanding this wonderfully diminished prodUe-
tion, the market is glutted,' while every farmer
and planter in the nstionls anxious for more iron
roads, and labOrers are everywhere idle for want
of machinery
Has the deficiency been made up by impOrta.
ton In reply, il will be sufficient 10 state that
the import OF l649 exceeded that Of 1876 by only
10000 tuns and that OF 1850 BY only 100000 tuns,
the total import having been only $4,000 aud
anat NuhS cNcig tuu ptOuUOSu dilO itupOltcu III
1876 found immediate demand, because men were
everywhere producing things 70 be given in ex-
change, in lS49 aud 1850 the market was every.
where "glu;ted," because of al insbility TO pro.
duce things which the producers OF iron were vii.
hing 70 receive in exchange for it, So far as
regards ron them the anticipatiOns Of the trainers
of the Tariff Of 1876 have failed Instead of a
more rapid increase OF the power OF consumption,
IL has greatly diminished, and "glut has been
created where none before existed, the conse-
quence Of which is, that miners and furnace men
are unable TO obtain the necessary supply of food
and clothing. Had the Tariff Of 1919 remained
unchanged. the prodact of 1876 would now be
doubled, and we should be consuming million
and halftuus, without any suggestion Of " over
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