Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1865-07-21
PROTECTION.

What our position will be without an
adequate Protective Tariff and what is
the present condition of our iron and bank
ing interests, may be gathered from the fol-
lowing brief remarks made BY E. r Ward
President of the American iron and steel as
sociation, at meeting of coal operators
and iron manufacturers recently held at
Cleveland, Ohio
GENTLEMEN. appear before you for
the purpose of inviting your cooperation
and assistance in the publishing and distri-
button of information among the peoble 6f
the Northwest on the subject of fee trade
and import duties on manufactures.
Many of you undoubtedly suppose that
the tariff on imports is new ample for pro-
lection as well as for revenue, and that any
effort on your part for its increase is there
fore unnecessary You may appreciate yout
mistake when you learn that hitie tenths of
all the blast furnaces are idle; that most of
the rolling mills ore working on half time
or idle; that the machine shops are destitute
OF orders; that there was nearly $4,000 coo
worth of iron and steel (currency value) i'm
ported from Europe last year that the coin
IN the banks of the United States has been
reduced from $l02, ,000, 600 to less than S25-
100000 row available for resumption of
specie payment; that the banks outside of
Boston, Massachusetts, have $4,000, of
circulation, With less THAI $90,000 In coin
that the United States have exported over
500, 1000, 600 of coin during the past two
years; that our imports largely exceed our
exports In value and that the balance are
paid in coin or United States bonds; that
Europe now holds $500, ,000 GOO of National.
State and Railroad securities, recurring more
than all the California products to pay the
interest; that strong organization Is nov
forming IN Europe 10 destroy the tariff We
now have, and that the cumulative taxes ON
home manufactures is so great as to leave
too small a margin between the price of la
Dor and capital in Europe to enable the A.
merican manufacturer to compete success.
fully with theforeign manufacturer. These
and other reasons render it essential to vour
interests that prompt and efficient action be
taken to meet impending financial evils and
save your Government as well as yourselves
from future bankruptcy. No remedy can be
at all eftectual but high impurtduties there.
by checking the purchase of foreign COM
modltles TO the values of cur exports exclu-
slye OF specie Any policy short of this will
end In disaster and it is important that
Congress should be brought to understand
this subject at the earliest practical moment
In order to stimulate the views of Congress
Oh this question, it is proposed to publish
and distribute AMONG the voters of this
country two million papers ON the import
ance OF "a sufficient tariff ever the home tax
alton to enable the manufacturers Of Amer
lca to supply this country with the greater
proportion of its merchandise. Instead of
buying it in Europe Our Cai,:i,iiah trade
Is particularly injurious to American inter-
ests under the Reciprocity Treaty. Our
trade with France is hampered with restric-
tions discriminating against American ships
and interest which no nation possessing any
SseiiTespect or power should submit to an
hour without retaliatory restriction
These are few of the reasons why Amer
leans should organize and act IN d,I; nse of
then own interests. However huui5atipg
lt may be to you, to be obliged to appeal to
an American Congress to protect American
interests against the mercenaries who advo.
cate free trade in the United State and
practlce high protection in Europe, il must
oe aone, as see no other hope for our ma
aohal debt or the nation prosperity
1t IS gratifying to us to see the true
friends of the country urging this nmtrer
upon the attention of the public Onr eg-
station has too long been controlled IN The
interest of foreign manufactures, our people
nave been too eager to buy cheap goods for
he present without regard to the future
And forgetting that when the manufactures
IF the country are paralyzed the whole
country suffers and that the prosperity of a
community depends upon diversity of en-
'loyments and the preservation of due
proportion between consumers and produ-
ers, they have followed the cryof free trade.
leedless of the fact that instead of bringing
is freedom In trade it placed us at the mer-
y, and made us the slaves of foreign