The North-Carolinian., 1859-03-12

upoql dancial policy, it was strengthened
and fztcnded by the act of 1924, and then al
dSaip h&ssa:t6f & 1928, when it reached the
climss NI5s ihsolent, unequal, and oppressive
demahos oNeVer had there emanated from
COngrssS measure SO fraught with mischief,
so uReq and unjust. 1t was justly styled the
b7! q 5abominations- The people felt its bur-
den4 he agricultural interest groaned espe-
cia y2ssder its oppression and out of this
tar ket grew fierce and bitter struggle,
whileis without parallel in our political his
tor,yahd which am sure no patriot would like
Ia ae revived
~ Eort rtunately for mankind, the good genius
|&6Wn presides over the des.inies of this coun-
try Iuled the storm, Gained the troubled wa
rtfI: and bade the raging tumult cease"
Ip.S21nsels prevailed, and a compromise was
tfS0fS This was entered into in 1888. By
IEisNnpfomise, it WAS agreed that protection
hoIafccntinne. Tor eight years. sh'ject, hove
everf % an annual graduated reduction, aatil
the kxpiratien Of the time, after which, as it
waskieged, the manufacturers having succeed
ed III placing themselves Oh a permanent foot
ING tould very well afford to be generous, and
giydn their adhesion to tariff upon strictly
revehue principles. Such was the memorable
conkst, ana such was the sacred compact which
drofe bach the tide of disuniou and again shed
onsLud food bought Union-a Union which
c,nIefy the Powers Of earth, and which no
unlklowsd hand dare ever profane so long as.
trrt to itself to its constitutional powers. and
tbolrotcstion of all alike, it does but aim a:
an1acconplish the great objects Of its founda-
tiob
kil any one say, dare any one assert, that
in Il this there were no wrongs, no burdens,
no Grievances Shall l be told that your man
a Il ~ IL, ~
AMI be asked to take this as an evidence Of the
nrlperiy of the country during the operation
Of kese high tariff acts? | answer as the South
| all W.st might have answered our man
nfXftur,s have flour she'd but at our expense
vok- re,euues for u time increased, bat we paid
tKtax.
| Ehe friends Of protection secured, for the
Jpnt their policy. upon condition that, at
/ III exIiraton of eight years, it should be aban-
dkrd. This sir, with them, was dying strug-
ek The then recent elections showed that
II. days were numbered The people had
8sen and their voice was not to be dsre-
1led Hence, they sought not to save but
2,rotract its existence. Mr. Clay, the great
ler and champion of protection, saw its eX-
kmity, and, with a paternal anxiety, had
Rssed the compromise, as tue only means ol
fprolonging life. He says:
FL How can this system he maintained against mum
H. against the whole weight of the Administration
1{xinst the united South, and against the ncreaseC
2pending dangers of civil war;?
k<tHsr him again at the same time. when ht
I nhtul lysexpresses his purpose and the orJect:
otthetcompromise
! Now give us time /; cease all fluctuations and ag
itaions for nine years, and the manufacturers VII
snsaiu themselves against all foreign competition
n, anxious find out some principle OF mutual ac
eormodaton to satisfy. as far as practlcahle, oo'I
naries to increase the stability of legislation, and
c,+ d.x hnt nO distant,
mt view the magnitude of the interests involved te
rigg down the rate of duties to the revenue
for which our opponents have SO long eohtehoeo'
How sir was this compromise kept Most
faithfully on the part OF those opposed 70 pro
tection for eight long years but when the
time cypired, and they were to reap the fruits
Of their contract, thus faithfully performed OF
,leir part, the protectIonists (and some OF then
the very men who, eight years before, hat
! nledoed themselves to the compromise repudi
!, ated their part OF IL.
' monds of the government bounty or premium
e ior the support of the protected classes, which
}, as | humbly conceive, is IN direct V'o'at'o
- tho spirit OF the Constitution, and totally a
q ~,r with the great objects for which the Fede
raj Union was established.
4 Now sir, take it that no man can be toun
: pho will dare assert that Congress has the po"
Il or to use the revenues, whether collected Dy q
ract taxation or by imposts, for any snch pu
d nose Where, then, is the distinction l
= p,iat does it consist 1t is true that the boui
q tv or premium secured to the manufacturer
r. does not 90 into the Treasury but it is, ne
er,heless. paid, and must operate as tax upo
# tha consumer. To afford this protection, tt
\ innortations of foreign goods are prohlblte'
p event at duty that will so enhance the pr.
: Of the foreign article as not only to enable II
! home manufacturer to compete with l6, but
,e realize therefrom large profits. The consume
wbc night have obtained the foreign artlci
IS with Iow duties, at a greatly reduced price,
N tbu fbrced to purchase it at the price enhance
oi by hk higher duties and thus actually to p'
af ilto the pockets Of the manufacturer TAX,
n sill, tax, which could be rightfully and cons
IN trfionally levied for no purpose, save the
y, islered.
le To illustrate this, we will suppose cargo
a. cdtton goods brought from foreign port, whl
r. tl5e importer without any duty could affcra
,e spl at twenty cents per yard ; duty OF Il
1T ;epts per yard is levied and collected III
il oecourse, will increase the price OF the goo
N tqtwenty five cents per yard. the manufactu'
" osthe home article being thus enabled to dema
re add receive for his goods the same price, al
st having no duty to pay, of course, IN aoo't'
N to the profits that the article at twenty Gel
n per yard would have afforded, puts INTO
c. pockets also the five cents duty which the
to porter has to pay to the government. In or
le to show to what extent this system may oe
10 RED, l will here read an extract from the rep
y, Of the Secretary of the Treasurer, under
ar FOLK, which / may add, is but another
le dence of the gross injustice and lntoleraDie
N dens of the tariff of 1912:
le AT least two-thir of the present tariff (of u
le are paid not into the Treasury but to the prote