The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-03-01
The Alteration sn the Tariff.

1t is wonderful to see how meek and quiet
the old protection organs are under the pro-
posed infliction of new tariff. After they
have been clamoring might and main for an in
crease in the duties as the only cure fer the
evils under which the country is suffering,
all of sudden and almost without notice the
House of Representatives passes bill to cut
down those duties yet twenty per cent; and
actually there is hardly so much as groan
heard from the bewildered protectionists. Let
us hope that this is symptom Of returning
common sense, and that the unfortunate per-
sons who have been SO long crazed on this sub
ject will now become useful and intelligent
members of society. All, however, cannot be
classed in this improving category. The Wash
ington correspondent of the Courier and En-
quirer is very affecting in describing the ills
which he foresees must grow out of this dimnu-
ton of the customs duties. According to this
authority, the reduction will cause great in
crease Of imports, which will lead to financial
reaction, which must cripple the country's
energy, and PROSTATE private business"
Now this is q fair sample of the sort of logic
these protectionists have been hashing up for
the last twenty years The argument--if it
can be digni6ed by such title-is that low
duties produce large imports, while high or
protective duties tend to decrease them. 1t is
quite clear to any man not blinded by the pro-
tective mania that the consumption of foreign
goods will be in every country in exact proper
tion to the demand for them; that the people
will buy them If they want them and can afford
1t, no matter how high the duty may be, and
that if they do not want them or cannot afford
them, they would not import even though ere
should he no duty at all. For instance, under
the compromise act of 1882, high duties were
enacted yet in five years under the working
of that act, the imports rose from about one
hundred millions to one hundred and eighty
per annum. The reason vas very obvious.
During the same period the banks expanded in
their loans and discounts from two to five hun
dred millions thus affording every man the
means to buy. After 1887, the duties under the
act Of 1882 were reduced did the imports in
crease Instead of increasing, they fell off
from $l40,000,000 to $4,000, 900: because
during the same period the bank accommo1a-
tons fell from $500, 900, 600 to S250, 900 600,
round numbers. Again in 1s42 the protec-
tionists got the upper hand and the duties were
increased wherefrom, according to the Con-
ritr's argument, the imports should have fallen
of. But they increased again from $64, 900 900
to $l4O,0oO,O00 the banks having begun to
expand, and the loans and discounts having in
creased nearly hundred millions. Under the
! present tariff, which, whatever the protection
ists may say, is protective tariff to all ntents
and purposes, the imports have increased one
hundred and fifty per cent In eight years sim
ply because the banks have expanded one hun.
dred per cant in the same period, thus doubling
every mans means to buy foreign goods and
wares.
There are some men who will never be con-
WINGED; and IL may be that some protectonists
will never admit that yon cannot by law settle
what a man shall buy for his house, his belly or
his back, or from whom he shall buy it. The
world, however, cannot wait for them; il mus!
&c on, and the twenty six millions of enlicht-
ened human beings who compose the American
people cannot be bamboozled any longer into
'egisiating. at the selfish dictates of this or that
class on the insane method called protection
Claoled in neanness and avorice that tbaorv
has grown by faisehood, and has owed ts sna-
cess 70 the kpavery of some, to the ignorance
OF Others. The first men who demanded nro.
tcc.ive tariff in this country were the mann.
faciurers who adbegun 10 manufacture d,riny
The var with Grea. Britain. and who foresas
ihat peace must destroy their vocation They
a'tec rat Corgress should make law 10 pro-