The republic. [volume] (Washington [D.C.]) 1849-1853, 1852-04-26

ls4l-2-Bit. free trade. l55l-2-Bit free trade.
Consumption per head, Consumption per head
pounds 9pounds.
In 1912 the people and the banks, the States and
the nation, were either bankrupt or on the verge
OF bankruptcy. With the passage of the act of
1912, confidence in the future began 10 make its
appearance, and In the brief period of four wears
the people were restored TO prosperity, commerce
grew, banks resumed payments, and States were
restored TO credit while the public 30 IA
increased as greatly 20 exceed the expenditure
So magicala resuscitation the world had never be
fore seen; and the very idea Of interfering with n
system under whch-su results had been obtained
was calculated to strike with awe even the hercest
advocate of the system which looks to limiting the
planter TO one market for the sale OF all his cotton
and one market for the purchase of all his cloth nd
iron. The poet tells us, however, that
"Fools rush in where angels feared TO tread"
and 80 was IL here.
In saying this, we beg TO disclsim the slightest
intention OF any disrespect to the author Of the
OF 1916. Undoubtedly man Of ability he had un
happily none Of the knowledge required TO fl him
for reformer of the commercial system Of the
country. His knowledge of trade and Of political
economy was derived exclusively from books: a md
our readers do not need to be told that farmer
who has no practical knowledge, and who depends
entirely on books, will ruin himself even on the
best farm. To this absence Of knouledge on the
part OF Mr. Walker are we indebted Tor the tariff
OF lS46, under which our consumption Of cotton hss
fallen so lou "a to force the European market 30
large quantity az to have brought the price down
TO a point almost as low es has ever been known
under which the consumption Of cotton and woollen
cloth IL daily diminishing IN actual quantity,
Notwithstanding the rapid growth of population
under which VIC consume far less iron than we did
four years since, notwithstanding an addition Of
more than three millions to our population under
which we have every year loss pork and beef but.
ter and cheese, aches and fish to cell, and more
hemp, lead, cloth and iron To buy-und whicb
we have issued bonds for hundred millions TO
make amends for a diminution in the produc.
fs.x sh.t a
millions annually, and by aid Of which the coun.
try is now brought TO the condition 10 which il
stood in 1896, and that in which rea Britain stood
in 1916, on the verge OF an explosion and yet hon
orabe gentlemen can be found who suffer them
selves 10 be misled into assuring the people that
not only obtain better prices for all we have To SCI
but that the quantities Tor saie have vastly in
creased. The day lie at hand when the destructive
otfecso the tariff OF ls4s 70 be fully expert.
enced; and for the cake Of the honorable members
future peace OF mind, we cannot but hope that he
will examine carefully the statements we now
place before him, and that he will then relieve him
self from all responsibility by publicly acknow.
Lodging that he had been mstaken--thst the tariff
Of 1916 was producing the worst effects that had
been anticipated from it-snd that he had at length
become convinced that the road 10 perfect freedom
trade could be found only in the adoption OF pro.
lection 10 the farmer and tho planter in their efforts
to bring the loom and the anvil 10 take their natu.
raj places by the eide of the plough and the barrow
In our next we shall continue our examination Of
this remarkable speech, aud trust to satisfy our
readers that its authors knowledge Of political
economy is on par with the accuracy Of his facts
Need we say more to commend it TO their careful
perusaR
In the mean time, we invite their careful stten.
ton to the following brief summary OF the reel
(acts of the case;
Under the tariff Of tighten hundred and forty ttco
We built mills and created machinery that enabled
va, in less than sI years from the date OF it's enact
ment, TO increase the consumption OF cotton from
2o7 900 to more than bales; and to increase
the consumption per head from seven to thirteen