The daily union. [volume] (Washington [D.C.]) 1845-1857, 1852-06-10
COMMERCIAL.
NEw Yorn. Juns 8, 1882.


NEW YoRK. June 8. 1852
The extraordinary results which have attended the ap
proxmste fIeeade policy in England and the United
States during the past ten years have established the truth
the democratic position upon that head and made retro
gession impossible The latest dates from England bring
the address OF Lord John Russell TO the electors Of Lon
DON appealing for election upon the single issue OF
free ade instead Of going into the upper House. as had
been expected The facts contained in his address are
that through the policy commenced by or Robert feei In
1872 indirect amount of Ei2 10000 ls5S $780,
O00) have been RENTED and the has been dmin
ished only 81 400 900; that Is TO say, remission OF 20 per
in the duties has affected the revenue but "a per
cent and the trade, employment and welfare oil The people
have improved the ratio The minister, therefore,
accepts The election ON ground and opposed TO
duty upon breadsu either Tor revenue or protection
FREQ trade has thus dictated itself In England Ia the
United States the actual difference between the present
tariff that 1912 but cent ad uaoren and the
Is still at The level OF 70 cent average on
duiable imports most peposeous and
If the revenue in some degree upon 50 small
reduson that which took place In 1885, Il arises more
from the reflex OF the in England than from any OK,
ceIence inherent in owa The population Of Epgand
20 00O and 10 per cent average duties gives
600 customs little more than 10 per head IN 'he
United population g. 100000 and 70 per cent
customs duties yield but S450Os,0OO. very little more
Than So per head. There is but little doubt that II the
duties were reduced to level approximating that OF
England, the per head would rise until the Gus
toms would Yield the federal government S3 per head
say $40 600 900 per annir--and that The demand LOT
farm produces to export would rice In the same pro-
portion aud that larger revenues TO the ieacfai COZ
iels would be accomplished by greater gains to The
farming and producing interests which would tighten State,
town. and county axaton and mpart greater revenues 10
every interest in the Union The high level Of
duties gaure which checks the movement OF business,
fel by every farmer. not only in the product OF his
lauds every dollar OF rail and pankoad scrip he holds
is depressed in value beyond what would be II the outlet
for produce enlarged as TO mpart increased ACTIVITY
10 the trade which passes those roads Every manu-
stock Is Influenced the
same manner because increased value to The products OF
armers who the great consumers OF goods, directly
enhances the nd FOR their fabrics The theory OF the
" home market" is always absurdy inverted by the pro-
tecionists Tie great OF the people--seven out OF
eightae Of goods, and the protective theory
requiring that the manufacturer should be enabled
by law to provide home market" for the products
OF his seven little common sense would dictate
that the seven farmers should find market for the
ducts the manufacturers and they will do so II they
can freely dispose of their products, and the manufacturer
has the ability their wants When their prosperity
shall have increased that lie can no longer fully supply
their demands, then there is room for another and manu-
iacures and multiply The idea that one manu-
facurer is to find home market Tor the agricultural
produce Of section Is absurd the idea of the Amer
| can in Germany who insisted that the Germans should
Learn English rather than that he should perfect himself
German ia order to hold intercourse The trade Of -
as compared with 1876. will compare as 70 live ae
The domestic exports less specie, and tn imports OF
dulisble goods and the amount of duties
u Domestic Net dutable Duties per
,s GIP gsos n gSsss 7sass7 ess'
1851 ...... iss,aaOaas Isa565,g1d 4s,oi7S7 81
y These figures show one prominent fact, viz; that the
alleged extensive ndervaluatons and frauds incident
upon the ad paios system have existence in fact The
exports are undervaued, and the return OF imports
per dollar of export Is larger now than under the old tariff
that 10 say 500 600 Of exports Of domestic
uce the government in 1876 levied duties upon S9OOOo
900 of the proceeds returned In 1884, O0O000O0 Of
ports afforded OF S02 900 subject to duty
IL per than in 1856 whereas were the under.
valuation carried 10 The extent alleged by the party hacks
they would yielded bat $40 900 900 dutable returns
The leading articles OF American Observation-Disclosures,
rice free of duty abroad and they have been
adm by the German States and England free of duty
in order feed the people cheapy and promote the
exports OF their products The United States require
that policy aud by admitting the leading articles OF
English and European industry free OF Duty to enhance
still their demand for industrial products.
moderate reduction of duty would only swell the federal
high for safety prudence pushed
to greater extent would keep where they are which
high They ought to be reduced 10 low figure
one which would give not more than the present amouat
on very much larger amoat of business
Money continues. to be very abundant and without any
symptoms OF change. Ii has been loaned low per
mt call and ranges from to for commercial paper.
This abundance facilitates prompt remudnces and Is so
far favorable to firm exchanges These 10 l0k
which there is profit the export OF SPECIE
heess it continues TO 60 The arrivals Of gold last week
were 81 500 000 and the export OF American gold was
s79JsiI being double eagle. coined for export and the
balance Si22 $685. foreign coin brought here by immi
grants and sold by them brokers shave, for wait
OF accessible mint, and reexpored to Europe profit
instead Of circulating in the country The mpoations
continue be less than last year. while exports
greater, particularly for cotton, which, the dates
brought per the Hermann yesterday, had resumed its
activity, with further advance. We also APP
proacng tho period OF the year when the effects Of
the European scarcity OF food will be felt la the
and the already rm The cotton market
much firm, but the leading operations will be de-
feued until further adyicea Wool isfrm and rsing-hc
holders all confident of considerable rise before the
fall The present clips opened at 10 below rates
OF last year. but many holders expect advance of 5
cents last year-say Is cents higher than June L.
1851 This Is based the undoubed short production
the United Sates and the aspect OF the foreign market
which ptecludes the idea OF very large importaoss.
Flour Is higher-say 81 06 81 H. SAFE; 81 IL 81 81
mixed western. Rye -four, 50 Is. Corn meal So IL a
40 Is Rye, 10 Oats, IS "a cents Corn, 90 cts
round yellow Pork 10 firm ct sls mess SIG 25 SIG 81
prime Lard, III cents, prime kegs. Ohio butter, 10 a
| lsi cents,
The stock market continue, very dull and prices by no
means firm.
United st.,es .,5,s, iss9,,..lol 10Y
United States
Untei States So, isu2, ....12
United NtHtes lt6
United states ........t..6s, lsSs. ....ll7 l2J
United STATES land las
Oho. .s..sbs 1909
leoA
Illinois 7ek
Indiana. s5's.,s.,........ ~ -
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