Cleveland daily leader. [volume] ([Cleveland, Ohio]) 1865-1873, 1865-11-27

the existence of such combination anC
they declare that, although they pay les
for wool, their profits are less than they
were last year on the same kind of goods
But it is not so much our object to cor
rect these erroneous impressions, as to cal
the attention of farmers to n few facts, t.
which they will do well to give heed
Admitting that manufacturers are JUS
now making large profits will any can.
did, intelligent man say that this is tho
effect of the high duties on foreign goods
Taking into account the internal take:
paid by manufacturers on their bushes:
and their incomes, and the additional cost
of labor, the protective duties do not ex-
ceed-they are even less than-what they
have been at times when these complain.
ing farmers bought goods at the lowest
prices they ever paid which. proves that
present high prices are not, either wholly
or chiefly, owing to the high duties i'm
posed upon foreign goods. Besides, some
kinds of goods imported free of duty, or
nearly so, have risen in about the same
proportion.
Business of all kinds has been more or
less effected by the war. The vast expan-
sion of our currency and the consequent
rise in the price of gold, are sufficient to
account for most of the increase of prices.
Much of last year gold ranged from
200 to $50 per cent. Does not every in
telligent farmer believe this to be the reas-
on why he received 81 a pound for his
wool? And is he not aware that the fall
in the price of gold to less than $50 per
cent. has naturally the effect to reduce,
proportionally, the price of his wool
Cloth at the manufactures and wholesale
stores has fallen nearly as much per yard
as is the difference between the last and
this years value of the quantity of wool
worked into a yard of cloth.
Manufacturers are doubtless doing well,
and so are farmers. Probably the former
might afford to sell at prices somewhat
lower. But they anticipate Il loss on the
wool and the goods they shall have ON
hand when prices fall, as they certainly
will, and perhaps suddenly; which must
make a great drawback. on their present
gains. Would not farmers observe
a like prudence in like circumstances
But reduce the duties, and what would
tbosa farp,ars c-aip o,raD fbo-rb tbav
should buy cloth at a somewhat reduced
money price? Would they sell butter,
grain, meat and other products at
present prices, when our manufacturers
are brought into aruinous competition with
the foreigner who pays starvation prices
for labor? What wa the condition of
North Western farmers after the crash
Of 1857, under the semi-free-trade tariff
hen existing, and the natural and usual
consequence of excessive importations ?
Goods were low; labor, too, was low, be-
there was little demand for it. Did
armers then make money as fast as they
10 now? Did the day laborer feed and
lothe his family as easily? Judging
rom present indications, unless a more
revenue system is early adopted
y Congress two years will not elapse be-
Orc the farmers will find, by sad expe-
fence, that buying their goods at the low
st money prices will not compensate for
ne depression which the whole products
their farms will suffer. For, to what {
yer cause u enormous importations are
be attributed, they are carrying us rap !
by on, through the same channels as for I
few years prior to the "~crisis'' of 1857. l
importing at the rate of 300 or $50 :
illions a year, and exporting, exclusive j
specie, only about taoo-thirds that Y
mount, will inevitably bring on the crisis, !
less the Government shall provide some Z
NEEDY. c
1t is strange that, after so much expe-
,nce, many still over-rate the foreign
that the farmers of the North c.
st have not yet learned the fickleness a
d unprofitableness of a market 1000 al
les from home. In one year less than Of
100, 900 bushels of American wheat have tc
ne to Europe in other years more, and II
seasons of scarcity a large quantity. ST.
the demand for home consump- L
n is comparatively steady and sure. p
of the surplus wheat of the West TT
a market in the Eastern manufac-
ing States, New England, New York
4 New jersey, than is sent to all for III
n countries. Stop manufacturing, and "
'usands now employed in the business 81
] be driven into agriculture, to swell W,
unstable surplus products of the soil. pl
en- were prices reduced by a reduction VI
the effect would be to increase cFri
Dortations, and to send abroad still m,
ger sums of specie to pay interest on on
bonds sent to pay for goods; and at ar ar
present rate of imports, a year hence on
eie exported to pay interest on our FIR
ds in Europe will not fall much short phi
100, 600, 600. Of
he policy foreshadowed by the Secre- sno
Z Of the Treasury may hasten the APP She
ximation of our paper currency toward on
'eeie value. The plan is to contract Wis
currency. Prices of all commodities ol
thus fall but of none so little, if man Ru
lures shall receive due encourage
#, as the staple agricultural products J
le Western States. 7
/ conclusion, we ask, when have our the
mercial commissions and money crises Nil
ed our nation, except when labor has oil
been adequately protected? The adj ;nf,
e periods were from 1916 to 1924; Still
n under Clay's compromise tariff, en-
Ito soothe the,nullifiers of South Caro- a
and again under the semi-free-trade- was
tariff enacted by the Polk admin d.
tion-the destructive effects of which is a
mated in the reYulsion ofl857. Far poll
think of these things. The Calhoun the
y is not the true policy for American bod he'd
lers. a 90
Wit
h. Barrett, editor of the Laporte ego
oerat was arrested on Monday after take
on a requisitiOn from the Governor and
illinois, and taken to Peoria on the as u
ng train. The charges against him couI
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