The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1865-07-27

Vi
She has pushed her protection of British
interests further than any other nation has
fostered its industry. The result is greater
wealth among her subjects, and consequent
ly greater ability to bear their public bur-
dens
1.-THE measure of the wealth of a nation is
indicated by the measure Of its protection of
its industry, and the measure of the power
ty OF nation is marked by that of the de-
gree in which it neglects and abandons the
care OF Its own industry, leaving it exposed
to the action Of foreign powers Great
Britain protects most her industry, and the
wealth of Great Britain is consequently the
greatest. France is next in the degree of
protection, and France is next in the order
Of wealth. Spain most neglects the duty
of protecting the industry of her subjects,
and Spain is one OF the poorest of European
nations. Unfortunate Ireland, disinherited
or rendered in her industry subservieut to
England,'is exactly in the same state of
poverty with Spain, measured by the rule
of taxation" ~ ...,
The remedy proposed by Mr.. Clay for the
evils existing in this country was high
tariff on foreign imports, which is the onl y
means that the wisdom of nations has yet
discovered to be ehectual The sole object
of a tariff is to tax the produce of foreign
industry. with the view of promoting Amer
lean industry. The tax is exclusively lev
lelled at foreign industry. That is the
avowed and direct purpose of the tariff.
Extracts from a Speechof Henry Cay, July
II, 1882
''Spain, by an utter neglect of her domes-
tic resources confded altogether to those
| which she derived from her colonies, and
presents an instance at the greatest adver-
sity." q. ..ed sW 81,
"Strong in the convictions and deeply
seated in the affections of a large majority
of the people of the United States. the tariff
stands self indicated in the general pros
perity, in the rich fruits which it has scat
tered over the land, in the experience of all
prosperous and powerful nations, present
and past, and now i'll that of our own
''By various acts, and more especially
by the tariff of 1624-the public Golfers
were amply replenished, and we have been
enabled to reach our present proud emf
hence of financial prosperity. ~
Encourage fabrication at home, and
there will instantly arise animation and
healthful circulation throughout all parts of
the republic aal g -gaa sw
"We must speedily adopt a genuine
American policy. Still cherishing the for
| eign market, let US create also a home mar
ket to give further scope to the consump-
ton of the produce of American industry
Let us counteract the policy of foreigners,
and withdraw the support which we now
give to their industry and stimulate that
of our own country. It should be promi-
nent object with wise Legislators to multiply
the vocations and extend the business of
society, as far as it can be done, by the
protection Of our interests at home. against
the injurious effects of foreign legislation"
1.-THE creation of a home market is not
only necessary to produce for our agricul-
ture just reward for its labors, but it is
Indispensable to obtain a supply of our
necessary wants. But this home market,
highly desirable as it is, can only be crea-
ted and cherished by the PROTECTION of
our legislation against the inevitable pros
tration of our industry, which must ensue
from the action of FOREIGN policy and
legislation" q.
Mr.. Clay, referring to the balance of trade
being against this country says
''ln the mean time there will be an ex-
port of the precious metals, to the deep in
jury of internal trade, an export of public
securities a resort to credit, debt, mortga-
ges. All of these conditions are believed
now to be indicated by. our country in it's
commercial relations What have we re,
ceived for the bonds sent to England? Goods
But these bonds must be- paid (
| The oft repeated faIlacy that commerce
will regulate itself is thus disposed of by Mr..
Clay - @
"Yes, and the extravaganza of the spend
thrift heir, who squanders the rich patri-
niony which has descended to him, viii
regulate itself ultimately. But it will be a
regulation which will exhibit him, in the
end, safely confined in the walls of the Jail.
Commerce will regulate itself-but is it
not the duty of wise governments to watch
its course, and beforehand to provide against
even distant evils by prudent legislation,
stimulating the industry of their own peo-
pie, and checking the policy of foreign
powers as it operates on them?''
Aftera two years trial of free trade, the
Emperor of Russia says
''The country which adopts, while others
reject, fee trade, must condemn its own
industry and commerce to pay ruinous
tribute to those of other countries
1T is with the most lively feelings of
regret that we acknowledge it is our own
proper experience which enables us to trace
this picture. The evils it details have been
realized in Russia and Poland since the
conclusion of the act of the 7th and 10Th
of December, 1918. Agriculture without
market, industry without protection, Ian
guish and decline. Specie is exported, and
the most solid houses are shaken Events
have proved that our agriculture and our
commerce, as well as our manufacturing
industry, are. not. only paraIyz ed, but
brought to the brink of ruin" 80
TO BE Continued