New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-02-12

members, we shall now briefly examine the ques-
ton how far our past experience warrants us in
assuming that a state of general depression, such
as has now twice occurred in the short period
of single Presidential term, may be regarded
as reason for returning to the protective sys-
ten, and 10 what extent we should be war
ranted in looking to such return as likely to pf
ford the relief required.
Throughout our first free-trade crlsis-that one
which commenced in 1917 and closed IN lc2i-
the facts presented for examination were very
similar TO those which have recently twice
occurred. Men were everywhere idle. Manu-
facturers were ruined. Plethora Of the National
Treasury had been followed by a necessity for
contracting loans-the revenue having proved IN
sufficient TO meet the demands OF the most eco
nomcal Administration the country bad ever seem
So great was the change in this respect that the
total Treasury receipts in 1921 were but little
more than onc.third of what they had been only
six years before.
The tariff of 1924 was a most imperfect meas
ure and vet 50 benefccnt were the changes re-
sullipr from tia action, that they led to the pas
cage of the really protective tariff Of 1928 under
which the revenue Increased so rapidly that the
public debt was finally extnguished only ak
wears alterward. The then restless and nov re-
! bellious South Carolina was not, however, TO DC
satisfied with any course Of policy likely to pro-
mote the prosperity Of the free laborers OF the
| country, and. to please her, we returned again
TO the free.trade system, with such results as arc
I avbibitad in the following figures:
Total revenue. Total revenue.
1896. SIS, 0OO,UOO lS39........S 80, tOo'Ut0
lSS1....-..-... l0,VUVVuU IotV'''-''--'' i0'''V''
| lS35......-... 1J,OOJ,O0O
Private distress and public bankruptcy now
walked hand in hand together, our streets being
| filed with wOrkmen seeking ynnly Tor employ
I ment, while Government Commissioners were
! seen as vaiuy knocking at the door of European
barking houses, seeking the very little relief that
was then denied.
Two years later, forced thereto by the existence
of state of things that threatened utter ruin OF
| our system, Congress granted to free labor
protective tariff Forthwith humln service came
again into demand. Forthwith confidence, both
public and private, was restored Able now to
sell his labor the workman found himself once
again enabled to contribute toward the public
revenue. the steadiness in the amount Of which,
as exhibited in the following figures contrasts
most forcibly with the sudden aud extraordinary
! changes occurring under the free.trade system:
lsi34-total revenue. S-S,-i2,OO0
1Sll5-tOtal reyenuc............ ~ 1,VJ
iSi5-G-total revenue. =, iOo,WV
The amount thus obtained under system in
tended, as we were told, for the destruction Of
foreign commerce, was greater by no less than
s.. O00, 600 per annun, than the average income
of the Years from 1851 to 1910, when the British
free-trade system had been in full activity. Why
was il 60 Because under the latter system the
| laborer unable 10 sell his services, was unable
! TO purchase commodities whose consumption
/ tended to augment the reyenue-sugar, cloth, or
/ iron. Because protection, on the contrary, made
q market for his labor, and enabled him, with
each successive year, to consume more largely OF
those foreign articles which, yet, We could lot
make. The greater the variety of pursuits
the greater is always the demand for labor, and
| the greater the power to contribute 10 the sup
/ port Of Government. Protection looks TO in
, crossing the variety OF emp"yments-to increas-
! ing the demand for labor, aud thus Increasing
| the power Of the people and the strength and
stability Of the Government. Hence 1t Is, that
/ The advocates of Slavery are found so uniformly
I ranging them,elyes on the British free.trade
/ side
! Under the tariff of 1916, and still more under
| that Of 1851, there has been a gradual but Ger.
| tain diminutlon Of the laborers' power to con-
/ sumo those commodities which contribute TO the
/ public revenue, and that diminuiion would long
since have made itself most clearly manifest, but
| for the power that has been exercised for pur-
/ chasing such goods on credit--gying in exchange
railroad and other stocks aud bonds to such
/ tent as now to require at least SiO,OOO,OOO for
| the payment of their annual interest Prcte,-
ton thus gradually diministes, while the demand
| upon our people for the support aud maintenance
/ Of foreign bankers and foreign Governments is
steadily and certainly ncreaslng-our own Gov.
| eminent, so leng administered in the interest of
/ Slavery, aiding in this operation by the pursuit
! Of policy directly the reverse Of that which
! has given to France, Britain, and Germany the
strength they now exhibit. To correct all this
/ to protect the free laborcrS of the couutry-and
to enable them to contribute to the public reye.
the public credit--are the especial objects of the
Morrill, tariff bill now before the Senate, and we
hope soon to be enabled to congratulate readers
upon the fact Of lis having become law, all the
objections Of ireetradc friends to the contrary
notwithstanding. Meanwhile, we beg to submit
the following questions to the careful consi iera
ton of those members Of our Chamber Of Com.
4 u / 1 4