Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1854-01-03
THE TARIFF.

wish abundant success to all concerned.
THE TARIFF.
The wings seem to have abandoned protection
as party issue. 1t has become, along with the
bank IAN obsolete idea" The prediction OF their
reading statesmen that the low tariff of 1876 would
not yield much revenue as the high tariff of
1872 has been signally falsifed The tariff of 1912,
during the last year of lis operation yielded about
sd 000 600. The present Democratic Tariff, adop-
ted in 1916, produced S5S93l $50, during the ifs
cal year ending on the Both of June last; showing
: difference Of about S:;S,OO0,000 in ayor of the
latter. Under the former in a time Of peace, the
Government got badly into debt, and attempt
70 negotiate loan, 10 meet its liabilities, sgnalav
ailad there being bids for it, except al a heavy
Discount Under the latter, successful foreign
war has been prosecuted resulting in a large and
immensely valuable acquisition Of territory; loans
have bern negotiated at high rate of premium,
and all The liabilities of the government promptly
met At the present time, there is large surplus
in the treasury aud the public debt incurred during
the war, is being rapidly paid off. But what is Of
lar more importance perhaps, TO the great mass of
consumers Is the fact that all the articles which en-
ter INTO general Use and consumption, are imDor-
ted at much lower rates Of duty under the present
tariff than under the wing tariff of 1912; thus ena-
bling the consumer purchase the article at 50 much
less cost And, in view of the large surplus in the
treasury, which Is constantly accommodating, the Sec
rotary Of the Treasury in his recent report recon-
nends placing upon the free list many articles now
paving duty. some OF which are largely used by
manufacturers and others articles of prime neces-
-ty used and consumed by every family, reducing
their cost inst so much they now pay duty. These
practical facts worth all the theoretical essays
ever published, about protection to home indus
Try" development Of the resources Of the coun-
try. "home competition" and similar wing twat-
tle which simply means protection to a few veal
thy manufacturers, at the expense of the toing mil
Ions Of consumers.
EAST TENNESSEE AND VIRGINIA RAILROAD
The President of this Road, in his late annual re-
port, makes the following estimates:
We shall now proceed TO give a brief statement
Of the total cost OF our road per revised estimate
OF the Chief Engineer and of assets to meet the !
same" taken from the Report of the Secretary and
Treasurer accompanying our report.
The whole distance of our road is set down at one
one hundred and thirty and tive-eights miles
COST Of graduation Of roadway, about S537, S08 |
Masonry 1913 053 |
bridge slperstrnrture, 72l29 !
Gross lnher,, lay ing and contingencies l2O9OS /
whole cost, 1895, 928 /
~ payment for work done and contingencies, in
sluiing 90 per cent retained in stock bonds up
to November a, about S3lS, 900
Remaining To- I've provided for. S58l, 92S !
To meet which, we have az follows viz:
Due from individual stockholders, 1892 1876 81
Washington County Bonds, 1880 90
jefferson County Bonds, 10000 90
Bonds Of the State OF Tennessee 1874 O00 90 /
Premium on same. 1890 90 /
Bank Notes Bnak Deposits Bills Re-
ceiyabe and Bills on New York, Sc. 26I % /
In The hands of Collectors and A gents, 2OlO 81 /
Amounting to S573,6JS 80 !
unc-third of the estimate ra. work.
ts5sl@2S' payable IN Stock Sl93,976 90 !
Wholc amount of Assets, S767.6 34 50 |
Deduct cost Of woI,, 5Sl,92 90 (
Excess over estimates, SlS5.7OG 30 .
Which, it is believed, is sufficient to meet loss /
Upon stock, laud damages, and discount upon Coun-
" Bond. with accruing interest for two wears
when the earnings of a portion Of the road will
n,eF them, and furnish mart Of the rolling stock
This estimate does not include the cost Of iron
and equipments Tor the road The State loans her
credit no the amount Of $4,000 per mile for this
purpose; but as tbo non alone at present prices.
Ni.i cost $4,000 per mile, there IS q deiiciencv for
I.i,- purpose TO he supplied.
The President thinks that. by December next.
ua', of the road will be ready Tor the iron He
saws:
AHcr making Gu- allowance for losses there can
%" 10 well grounded fear If the means being sniff
cent .or fitting road for the iron, for obtaining
winch w rely Upon State bonds to furnish it; but
bar We mag proceed doublv sure it Is recommen-
drt That We finish the work 10 the Cross Roads
II u'N.an'roi - rnlirS-the eusuingyear which may
p" g'a",d 10y ih" time the first 30 are laid and then
W. SHal DE alla =" lay the % miles without stop
ping Ihere VIII then be finished 60 miles at the
cas- err terminus ready Tor the iron by the arrival
81 the Virginia an" tennessee road, and 30 miles at
the western terminus. IF our means still hold ont
it will be in our power to fin the Intervening Snace
and JOIN up the ends Of the second and third wears.
but should facts prove us to have been in error we
can then safely suspend until the means are found
for it. which cannot then be difficult to obtain
Il will he perceived that other calculation has
been made for means to procure the rolling stock
depots, water and wood, except the residue as
above: but il is confidently believed that if the in
tcated points can be reached there cannot reasona-
bly, exist a doubt,of the credit of the Company Sc
curing the remaining deficit either upon loan or by
selling stock.
OLIVER B. ToRBEr. Esq, late Speaker Of the
Indiana House Of Representatives, and former edi-
tor of the Lawreaceburg Register, has become as
ISOLATED with Hon WIN. J. Brown in the editorial
department of the Indianapolis Daily .Sentinel-
He is known as a firm, consistent democrat, and
ready vigorous writer. His address to the patrons
# the Seat,osl indicates candor, energy and ability