Semi-weekly North-Carolina standard. [volume] (Raleigh, N.C.) 1852-1853, 1852-01-28
THE TARIFF OF 1916.


The paragraph of Gov. Hunts Message relating
lathe Tari, is in,admrable keeping With the hegof
of the Secretary Of the Treasury on lhe same ssno
iect. Boihthese uctonaries appear g think iaat .na
should be repealed and the Tariff OF 1912, or SONS
other system of plumber, introduced. Gov Hunt
speaks of an enormous balance of trade against the
country" and SecretaIy Corwin implies The same
thing though his figures show that the exports OF
the wear have exceeded the imports about S2OOO,OOO
81 but ''-2O.O 100000 of the exports consisted oil
specie So did So 100000 of the imports. More
over the specie exported the product OF oar own
mines or displaced by the product Of our nniRes,
and was less by many illlons Than the Prodneto i
cur mines during the same period SO that, instead
of draining the couptry of specie. there was more
specie in the Country, BY many millions. at the end
Of lhe year than at the beginning. Can any one Cell
us why the product of our gold mines is less do
mestic acture than the product OF our IRON OF
lead or coal mines less the fruit OF domestic In
tusry than bale of cotton goods box Of shoes
WHY then, should we object so much of this pro-
duct leaving the country the fluctuations OF COM
merce demand! Well at any rate say the Protec-
toniss, If IL had not been for the gold discoveries,
YOUR free trade Tariff would have ruined So
thew said in lS47, If ii had not been for the famine in
Europe, all the banks of the country would have
been broken. If it had not been for that famine, and
again, if it had been for the gold discoveries the
imports would have been much less than they actu-
aIly were. Mr.. Corwin wishes Congress 10 inter
pose and regulate these matters but we can tell him
that they already regulated by power much
stronger than Congress, and much less liable to err
The natural laws of trade---the relations between
supply and demand-wi, if left alone, regulate all
these things in the very best manner. Should il
happen that import too much In any given period,
the of exchanges Will soon reveal the fact,
and the se:.interest OF importers will restrain them.
We once had a chartered regulator of domestic ex-
changes and currency-the United States Bank-and
there many intelligent men who honestly be-
lieved that such institution was indispensable to
the heathfulness Of both. But the Bank has been
and hnfh nf
currency and the exchanges is VIGOROUSLY better than
it was during the life Of the monster. One would
SUPPOSE that the country would profit by this teach
ing. And indeed. il has prohted. But the proec-
Iionsts not the country They are minority Of
the whole people. and must be content to let the
jority govern. 1t is amusing to see how the Hon.
Secretary labors to explain away parry the force
of facts which he is Obliged to communicate. In
l849-'50 the crop of cotton was so small that the
price was enormously high. In I950-'5l the crop
large, and The prices still high. The crop Of the
present year, he tells us, has exceeded that Of last
year, and will therefore, he calculates, produce much
less money. In short, every thing has worked in ia
vor of the existing Tariff until now and has pre-
vented its evil tendencies from being perceived But
now the mask is TO come off. Now the deformity Of
the monster is 10 he revealed. Well, we shall see.
Hitherto the present Tariff has fasifed all the Pre-
dclions of the Protectionists, and it will doubtless
do hereafter. When it first became law, the
ProIectioniss said it would yield very Inadequate
revenue. But instead of this, it has yielded Teve-
nr0 Immensely greater lndn Tue IdTlu OF 1872
revenue which has carried the nation through an en-
pensive with comparatively little borrowing, and
will soon extingush the debt entirely. And Sd of
other predictions. But have not time 10 partic-
ularise.
The plan Of the Hon. Secretary that last years
crop sold for less money in the foreign market
than it invoiced here, shows at least that he
Ina rl pushed, to make out his We doubt the
truth Of the remark when applied to the crop as
whole, but if the Secretary is disposed to 60 behind
his own Custom house valuations, he ought in all
fairness do il in regard other articles. well
cotton. The result wUuld be, large addition to the
value, and above the Custom House appraise-
ment. For, we beg to assure the Hon. Secretary
that merchants ard-ship-masters do generally
work at loss, but at profit. As general remark,
they get more for their commodities the other side
than they cost here after adding freight and charges.
And it is with this enhanced price of their ari-
ces that they purchase foreign goods in the foreign
markets. So that the Secretary's plea will on the
whole operate against himself.
He tells further, that the value ef brendstus ex-
ported last year, only $2l ,55s .653, (Which is
less than third of what exported in the famine
yedr but he forgets to state that this SOL 653 is
"a 900 900 more than exported in any one year
under the Tariff of 1912, and 100000 more than
the annual average under that Tariff
Ne'o York Journaiof Commerce.