The national era. [volume] (Washington [D.C.]) 1847-1860, 1855-07-26
THE TARIFF, A QUESTION OF PRICES.
New York, June Is, 1855.

|
To the Editor ofthe National Era:
By the Tribune of yesterday preceive in o
long editorial on British Free Trade and Rus
sian Protection show of fairness in the dis
cussion of the Tariff question, in words, which
that paper ignores m its practice. 1t says:
"There is, as we think, better way of treat.
ing such subjects. This is to be found in ex,
aiming question in all its lights, and thus
enabling the reader of journal to form opin-
ions for himself If it is really true that our
farmers profit by the system that Britain has
established and is laboring to extend, then the
more perfectly the facts are placed before the
world, the more viii its farmers be satisfied that
both principle and interest should lead them to
the advocacy of British Free Trade. Truth can
lose nothing by the most thorough discussion,
but faisehood may and to the knowledge that
the latter is the case is probably due the fact
that our Free Traders present invariably but hall
the facts, aud even these generally mis-stated,
and then close the door against all investigation.
In saying this, we have no desire to charge upon
the Era any intention to deceive its readers in
the manner usually practiced by the Journal Of
| Commerce, however complete may be the de,
ception produced by its mode of operation. On
the contrary, we hope to see him prove by his
| present action that he is an honest seeker after
| truth"
The idea is held forth in several other parts
of the article, besides the strong paragraph here
extracted Now, at three several times, within
the last four or five months, l have sent respect
| full written communications to it, endeavoring
to show that the Tariff was question of prices !;
and that, as money governs prices, it was emf.
nently proper that our false paper money sys-
tenn should be considered in the discussion. 1t
is one view of class of Protectonists, of which
| consider myself one, who go for the protection
of the large class of our fellow citizens engaged
in honest, useful industry, as well as the COM
paratively few wealthy owners ofmills, factories,
&c. / have been a constant reader OF the pa
per for several years, and admire its course on
many subjects very much but in all the numer-
GUS articles have seen during that time on the
subject in question, have not noticed at any
time the consideration of this, the most essen
tial element in the discussion of a Protective
Tariff. 1t is true, at several times within a
year or two, it has deplored the disastrous eff
feet on our country of the practice of running
into debt to England, by the issue of State bonds
and the bonds of cities, railroad and other COM
panies, &c. It saw the great evils of and strong
" censored the practice, and several times ad-
mitted, e | remember right, that it worked &
practical qualification of protection" But, to
the best Of my recollection, it never took the
most important ground in opposition, that all
these issues of |" bills of credit" were unconsti-
tutional. and therefore illegal-they are paper
money in large amounts, and only have the
same effect on tariff legislation that our miser.
able unconstitutional bank note currency has.
On this subject, as on the liquor traffic, I think
the only Just courseis, Free Trade or Prohibition,
so that Equality of Rights be preserved. The
discussion of the money question covers vast
field, and before closing l will only notice one
salient point in the gigantic paper money fraud,
as it exists in most of the States: The Legisla-
lures allow men, who are rich enough to own a
hundred thousand dollars in stocks or lands to
issue evidences to about that amount, even when
the bank laws are observed according to their
letter and intent, and then receive these same
evidences of debt in payment of Government
dues, the same as if they were real honest
money. Such fragrant difference in the treat
ment between its rich and poor citizens has
well been termed aristocratical, making the
rich richer and the poor poorer, enabling the
former to live upon the interest of their debts!
While this British" paper money system
prevails, our prices cannot fail of being high,
nominaly, probably three or four times as high
as they would be under the constitutional
money, gold and silver. Of course, our mar
kets will be the most profitable for other ma
tons to sell in, buying from US little as pos
sible for the same reason. To keep this sys-
tenn up, the British" undmongers will buy
up our bonds of every description, as long as
they are not absolutely repudated. They know
these base issues of bills of credit" are in vio
lation of the supreme law of the land, and, in
fact, that they have no legal means in this
country to enforce their collection; but they con-
tinue the traffic in spite of that, relying on the
generosity, gulibility, &c, of the Yankee ma
ton; land in truth, between us, it does not
seem misplaced reliance, when we see how
that shrewd" people can be and are humbug-
ged in the matter.) About the years 1886 and
1887, they became somewhat scared, and ask
ed Daniel Webster, who happened to be in
London at the time, whether it really was true
that there was no legal means to coerce the
payment Of the bonds Of the different States.
The "greut expounder" admitted there was not
in reality, but so far as regarded his own State,
Massachusetts, she was rich, and her pride,
&C., would impel her to pay up every dollar.
"Bonds hailing from the States were in bad
repute there for while, not having "the odor Of
nationality" about them; but the fears of the
fund-mongers became assuaged after a time.
and this British T" notification of protection
has been an immense business since then.
The Hibune seems to take more interest in
Russian e Protection and British Free Trade
III turkey IMAM 10 give tue subject thorough
overhaul jg in all its parts as existing under
our own eyes, notwithstanding protested friend
illness to-" examine the question in all its
lights"
Where would have been the credit of the
United States at this moment, if our monetary
affairs as nation, for the last few years, had
not been conducted with the money of the Con-
stitution, to the exclusion of the counterfeit
money of banks Should we not have had
more disastrous general suspension of specie
payments than occurred in 1872 We want
the same divorce of bank and State in all the
States as now exists in the United States. 1t is
demanded alike by business wisdom, equality
of rights, and the permanent welfare and hap
piness of the community. A huge discussion
would be inaugurated, but no subject would
confer more public and private benefit if set
tied on the basis of the Constitutions basis
of equity and justice. That settlement would
give REAL PROTECTION.
KIDNAPPING WHITE GIRL.