Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1857-10-07
Effects of the Present Tariff Policy.

The Philadelphia American and Gazette has
very able and instructive article showing
the pernicious effects cf the Tariff OF 1910
upon the monetary affairs of the country, from
which we extract the following: 49, "a
"Tinkering with tariffs and the currency
has largely contributed to bring about the ex-
listing conditions of things, by creating artificial
demands for foreign fabrics and depriving do
nestle industry ofproper protection and reward
Politicians succeeded in deluding the people IN
to belief that low duties levied upon goods OF
foreign prices, would cheaper articles OF popu'
lar consumption, and extend the scope of COM
merce. After ten years of experience the very
reverse has proved to be true, rs every poor
man knows and feels in his own person and
pocket And the plain reason is that the Dem
ocratic policy under the Tariff of 1916, which
gave but languishing existence TO domestic
manufactures in particular branches of industry
only, turned the great trade into foreign hands,
by which, monopoly being secured, prices
were regulated to suit themselves Superadded
to that influence, the discovery of gold in Gall.
fornia gave vast impetus to importatons OF all
sorts, and as long as the supply continued to
meet the demand of foreign creditors, we dld
not stop to inquire how the interests of labor at
home were prospecting, or what were to be the
ultimate effects Of policy which was deluging
the country with the products of European IN
dustry. 2
The opening out of railroads all over the u
Mon gave employment to our mines and mills,
and thus temporarily averted calamity which
must have visited them but for that fortunate
resource. Yet during the ten years beginning
with 1S47, when the present tariff went into
operation, and down to the report of Secretary
Guthrie last winter, over two hundred millions
of dollars of the Manufactures of iron and steel
had been imported into the United States, paid
for by the bonds which are now pressing US,
and in part by the gold which is in the vaults
of the Bank of England. Suppose that iron and
steel had been manufactured at home, as it might
have been, if the tariff of 1912 had continued,
does not every one see that SO much wealth
would have been added to the productive indus
try of the country, and an important branch OF
manufacturing advanced to condition of in
dependence, by which iron would have been
cheapened More than one-half of the British
rails imported have turned out imperfect, titus
adding vastly to the original cost at the expense
of our pockets. All of a sudden check is CIV
en- to these enterprises by monetary strin-
gency, and the first effects are compulsory sus-
pension of work at the mines and mills, and the
turning out of thousands Of men just at the APP
proach of winter. What is true of iron is also
true of the wooden, cotton and other manutac-
lures. So long as money was obtaiuable at g.
ny cost, they were willing to 60 on. Now that
contractions have come they are compelled to
stop. This is the inevitable consequence Of an
erroneous policy, and would have happened,
whether the gold of California had been discov-
cred or not So long as our industry was pro-
tected against acheap competition excessive i'm
portations were impracticable, and specific du-
ties guarded against the frauds which have
grown up under the present system. In order
to test this proposition practically, let us take
the years of the tariff of1s42 and compare them
with similar period under the act OF 1886
For example: -n t.i PIE