Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1862-01-23

iONtt. = s'Ap,JoO
The stock represented by the companies
named amount 70 twenty FIVE millions of dollars
The dividends for the six months ending June
30 were S6l7 900 the dividends for the last SIX
months reached over a million OF dollars. 1t will
be remembered that last March Congress. on the
very OF the civil war remOde.ed the tariff in
creasibg the duties very largely. This new Ia
riff went into operation on the lsi 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
dictate who Is prohting by the Contrast the
profits made by these manufacturers with those
OF the agricultural portion of the community
Twenrrhve millions of New England capital
reaplng 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
tariff to benefit comparative handful of
capitalists. IL will be remembered that the cen
sus of 1850 gave the whole number of slavehold
in the country at 347 600 and the vast major
ty of those Owned but few slaves Ii 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 more Odous oligarchy. The S25,-
100000 OF capital invested in these manulactur-
ing establishments are held possibly 10y less than
5,OOO persons. And for the benefit OF these
5000 per the people OF the United States
taxei 30 per cent. upon the necessary articles
OF domestic use. and the agricultursts deprly
OF market for their productions The impor
tations under the Morrill, tariff are necessarily
smaller than they would be under tariff that in
vite~ foreign manufactures.
The market for our products is to like extent
abridged, because il English and French manu-
facturers are excluded, American breidstutfs and
provisions are only exported TO meet ndispensa-
BILE necessities. Ii our market open To the
manufactures of the world az Il reasonable rate Of
duty, We would have the markets of Europe filled
with our breadstufis. The exchange of com
moditles would be reciprocal. and the American
farmer would have at least demand Tor his
crops. But that unfortunate tariff got up for the
exclusive benefit of about I'VE nty thousand CAPT
tallstS in the Eastern States, has closed the door
10 cheap manufactures and per conseq renee near
ly abolished our foreign market for home produc
tons. Europe buys no more of American grain
and provisions than she can help and the reason
is that the United States TO crafty a few capt
talsts, has closed the door to foreign manuiac
lures.
Nor is this the only evil resulting from the
tariff. Ii has seriously affected business IN
France and England. aud, 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 opening
10 them extensive market for their mauutac
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 cOttous and woolens selling AT Lou
isville and St. Louis 30 per cent. cheaper than
they can be had ut Few York and Philadelphia,
these foreign governments do not suppose the
West will turn aside from the cheaper mark cts
To pay tribute elsewhere.
1t is our candid opinion that the present tariff
has done more to secure the rebel cause sympathy
and favor in Europe than anything else twas
folly--it was criminal sfupidity--to have enacted
such tariff at such a time, and we do not know
but that Congress would be doing wise action
10 restore the tariff To the old rates that ex-
listed prior to 1857 .-Chicaqa Post.