Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1862-01-27

The stock represented by the companies
named amount to twenty FIVE millions of dollars.
The dividends for the six months ending June
80 were S6l7 900; the dividends for the last six
months reached over million of dollars. 1t will
be remembered that last March Congress. on the
very eve of the civil war, remodeed the tariff, in
creasing. the duties very largely. This new Ia
riff went into operation on the lst of April, 1861
and consequently the manufacturers had but three
months of its benefits before declaring their July
dividend. These profits are large, and they in
dicate who is profting by the Contrast the
profits made by these manufacturers with those
OF the agricultural portion of the community.
Twenty five millions of New England capital
reaping a rich harvest during time OF civil
war, which the farmers of the country are burn
ing their crops for fuel.
The whole nation has been taxed by this obi
Gus tariff to benefit a comparative handful OF
capitalists 1t will be remembered that the Gen.
sus of 1850 gave the whole number of slavehold-
ers in the country at 347 000, and the vast major
ity of those owned but few slaves 1t was
urged with great force from the pulpit, press and
stump that these 347 900 shareholders controlled
and directed the whole policy of the National
Government, and that all things were made sub
ordidate to their interests But the Morrill, tariff
erects even a more odious oligarchy. The $685.
100000 of capital invested in these manufactur-
ing establishments are held possibly by less than
5000 persons. And for the benefit OF these
5000 per ons the people of the United States
are taxed 80 per cent upon the necessary articles
of domestic use, and the agricuiturists deprived
of market for their productions. The impor-
tations under the Morrill, tariff are necessarily
smaller than they would be under a tariff that in
yites foreign manufactures
The market for our products to like extent
abridged, because if English and French manu-
facturers are excluded, American breadstuffs and
provisions are only exported to meet indlspensa-
BILE necessities. If our market was open to the
manufactures of the world at reasonable rate of
duty, we would have the markets of Europe filled
with our breadstuffs. The exchange of COM
moditiss would be reciprocal, and the American
farmer would have at least demand for .his
crops But that unfortunate tariff got up for the
exclusive benefit of about twenty thousand capi-
talsts in the Eastern States, has closed the door
to cheap manufactures. and per consequence near
| ly abolished our foreign market for home nodnc
tons. Europe buys no more OF American gram
and provisions than she can help, and the reason
is that the United States, to crafty few CAPT
talists, has closed the door to foreign manufac-
lures.
Nor is this the only evil resulting from the
tariff Ii has seriously affected business IN
France and England. and, more than anything
else, has turned the sympathies of the people and
governments of those countries against US. They
look upon the disruption of the Union as opening
to them an extensive market for their mauufac-
lures. They have long since figured out that
with the South as an independent nation, and
free trade as its guiding principle, the great agri
cultural West will not continue many years to
pay tribute to the oligarchy of Eastern capital
In the shape of heavy duties on foreign fabrics
! With British cottons and wooiens selling at Lou
isyille and St. Louis 30 per cent. cheaper than
they can be had at New York ant Philadelphia
these foreign governments do not suppose the
West will turn aside from the cheaper markets
! 10 pay tribute elsewhere