The Weekly Perrysburg journal. [volume] (Perrysburg, O. [Ohio]) 1861-1???, 1865-12-08

into ruinous competition with tire foreign
or who pays starvation prices for labor
What was tho condition of Northwestern
farmers after the crash OF 1857, under
the semi.freo. trade tariff then existing, and
the natural aud usual consequence Of ex-
cessive importatious Goods were low :;
labor, toe, was low, because there was httlc
demand for it. Did farmers then mako
money as fast as they do now2 Did the
day laborer feed aud clOthe his family as
easilyg Judging from present indications,
unloss q more healthy revenue system in
early adopted by Congress, two years will
not elapse before the farmers will find, by
sad experience, by buying their goods at
the lowest money prices will not compen-
safe for the depression which tho whole pre-.
ducts OF their farms will sutfer. For, to
whatever cause our enormous importations
are TO be attributed, they are carrying lis
rapidly on, through the same channels az
Tor few years prior to the "crisis " of
1857. Importing at the rate Of 900 or $50
millions year, and exporting, exclusive Of
specie, only about tico-thiris that amount,
viii inc Iitably bring on the crisis unless
theGovernn ent shall provide some remedy
1t is strarge, that after so much expert.
ence, many still over.rate the foreign mar
ket that the farmers of tho North.weet
have not yet learned the fickleness and un.
proitableuess of q market 1000 miles away
from home. In one year, less than 900, 900
bushels of American wheat have gone to
Europe in other years more, and in sea.
sons OF scarcity large quantity, Where
as the demand for home consumption is
comparatively steady and sure. More of
the surplus wheat of the West finds a mar
boz in fin, Enptarn ,,,,,,E,,Nnr,.r~ nt,
New England New York and New Jersey.
than is sent to all foreign countries. Stop
manufacturing, and thousands now EN-.
ployed in the business, will be driven into
agriculture, to swell the unstable surplus
products of the soil. Even were prices re.
duced by a reduction of duties, the effect
would be to increase importations, and to
send abroad still larger sums of specie to
pay interest on our bonds sent to pay for
goods and at our present rate of imports
a year hence specie exported to pay inter
est on our bonds in Europe will not fall
much short of 100000.
The policy foreshadowed by the Seoreta.
ry of the Treasury may hasten the approx
imation of our paper currency toward q
specie value. The plan is TO contract the
currency. Prices of oil commodities will
thus fall but of none 80 little, if manufac
lures shall receive due encouragement, as
the staple agricultural products of The
Western States.
In conclusion, we ask, when have ON
commercial convusions and money crises
visited our hation, except when labor ha:
not been adequately protected The ad
verse periods were from 1916 to 1924
again. under Clay's compromise tariff, en-
acted to sootho the nullifers of South Caro-
lima; and again under the semifree. trade
revenue tariff enacted by the Polk admins
tration-the destructive effects of whicl
eliminated in the revulsion of 1857. Far
mers, think of these things. The Calhoun
policy is not the true policy for American
Farmers.