The southern press. [volume] (Washington [D.C.]) 1850-1852, 1851-12-17
fromhe London Times, Nor lS.
The speech OF Ex-Seeretary Walker In
England.

| Among the straws caught by some drowning
politicians In this country, has been lurkino
| nope that America, growing sick of free trade
and ambitious of an absolute commercial indie.
| pendence, was about to screw up her tariff To
| It's former malignty. So splendid an example
| 1t was supposed, could not be without effect ON
this side the AtAntc, and either from simple re-
venge or as the natural way of meeting such n
movement, England was to close her larders
against American bread, meat, cheese. and bnt.
ter. AT one time Polk was the man. then Tav
lor, then Fillmore, who was to lead the game Of
mutual exclusions. This We v year a mares
nest for We cannot call it anything else, of
most singular character, possessed the imagina.
ton OF lively contemporary, and we were told
that the free trade tariff of 1916 had been virtu.
ally condemned at Washington, and was in the
act of being repealed. Exclusive inf, rmation
was boosted for the fact, and the information.
strange to say, has remained exclusive 10 this
very hour. The American tariff of 1916 re-
mains without alteration. But, if hope still
fingers, and II anybody really thinks that the
United States are about to commence n retro-
grade career in finance, Mr. Walkers speech at
the Liverpool dinner ought entirely TO dispel
that deusion. Putting aside its ability and clio.
qucnce, which speak for themselves. the mere
statements in his address are of such gravity and
force as to assure that the question is az set
tied on the other side of the Atlantic as ON tb;s
and that New York will never again act mn hor
back at her sister on the Mersey. The brief
history OF American finance, and its results. from
1912 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 it not for
bad governments, corrupt minister's and inter.
ested classes, would be enough 10 conyert all tho
world to commercial freedom.
Referring the reader TO the speech itself for
the figures OF the case, we need only state he,o |
the general effect of comparison insii,ptad h., |
Mr.. Walker, between the operation of the Am
erican tariff of 1912, and that of 1915 Ia
latter was tried the bold experiment of reduc;na
the duties on imports to about half what Inv |
had been IN the former. From whatever raason |
AND, OF course, If must be admitted. from |
multitude of reasons--t has come 10 nass that |
under The late tariff, the aggregate revenue. the
aggregate customs upon imports. the exnorts |
The shipping, and all the external signs of pros'
perlty, have increased to n much greater amount
ana NJ much higher ratio thnn under the
former. And If Il be replied that very likely
.ne iorelgn trade, and whatever depends upon Il
nave improved under free trade tariff. but thai
.oe domestic industry may, nevertheless. not
nave improved, Mr.. Webster points out TINT the
Improvement at home has been as great, If moi
greater than that of the foreign trade; that DO.
puIat'on, railways, and every sign of increasing
employment, comfort, and wealth, have advanced
with giant steps; and that the United States,
AFTER founding new State on the shores of the
rac'f'c, and receiving million and a half of
our countrymen, more or less destitute, within
'ne last seven or eight years, are now enjoying
with England, large surplus of income over
expenditure, and are in fair way 10 be once ,