New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-07-07
THE OPDYKR RESOLVES.

THE OPDYKE RESOLVES.
MI A. Delmar some weeks since, attempted TO
commit the Chamber Of Commerce broadly, unre-
seryedly to the doctrine of Free Trade. His propo-
si.ion was duly referred TO q strong committee,
whereof Mr.. Geo. Opdyke was chairman. Mr.. 0. is
Free Trader, original thorough unequivooal; 80 10
assembled bis committee and tried to procure an IN
dorsoment of Mr. Dclmsr's proposition. but could
not; so he gave up the job as hopeless and came
back to the Chamber with request that his committee
DO discharged, which was agreed to- though it was
well understood that an effort would be made to in
crease the Tariff at this session.
Mr. Opdyke. on Thursday, took the Chamber by
surprise, by introducing TO thin meeting memorial
demonstrating against the Tariff bill now before Con-
gress, which be carried. We suspect that those who
would naturally favor the proposition had private
notice of his purpose. At all events, we know that
those who would have opposed it had not.
Mr. Opdyke predicts that the now Tariff, If enacted,
would reduce tho Revenue from Customs by diminish
ing Imports We certainly hope it would temporarily
have that eifoct for We wish TO buy back part OF
the National securities that We have 80 long been
selling abroad at forty to sxty-Gye cents on the
dollar and we know no way to do this but b.
diminishing our Imports Yet Mr.. Opdyko must be
aware that tho successive Tariffs OF 1924. 1923, 1912
and 1861, were vehcmently resisted ~ necessarily
ruinous to our Foreign Commerce, Navigation and
Revenues yet experience utterly fasifed all these
predictions, by Increasing Commerce. Navigation and
Revenue. Can Mr. Opdyke imagine reason why
his prophecies should not share the fate of hcr prede-
cossors' We cannot.
Mr. Opdyke further urges. in opposition TO the
New Tariff, that
ct would mar the prosperity OF agriculture BY increasing
the OF its supplies without enhancing the prices OF ia
products which governed those OF sill exportabe
commodities by the foreign market value II would njuro
mechanics by increasing tho Of living without enhancing
and fn through It's exorbtant production II would
snas1se The Petms0en' prosperity Of TIE "a
foster. This degree OF protection being at least twice
that interest has hitherto enjoy under the revenue
lws most favorable to-day expect to 1t endan
home oompetition which VII nmatcy prove iaai
TO its property We also expect the people soon
become this boon conferred on
favored interest demand Its repeal and the substitute 81
tariff srOiy grounded the principle Of This
combined with the appel, Of home competition woul be
Liable 20 Involve the interest oil our country In
general bankruptcy"
10 novelty. Ne hare tried the policy you deprecate;
aud the results you predict were not realized The
products of our Agriculture did not fall off in price
1--WE appeal to the Prices Currently under our former
Protective Tariffs; on the contrary Gen. Jackson's
prediction Tin his letter of 1924 to Dr. Coleman) that
our Agriculture would be more benefited by protect
ing Home Manufactures than by oil our foreign
markets, was sigpally fulfilled Mr.. Opdyke errs,
in asserting thus broadly that the prices of all ex-
portable foreign commodities" governed Il" by the
foreign market value" Wheat is one of our - ex.
portable commodities yet the price realized for it by
o majority OF our growers is scarcely affected by its
" foreign market value" So Of Tobacco, and many
staples beside. Aud, without exception, the creation
of an adequate Home Market has always enhanced
the g market value" of an agricultural product.
We heartily thank Mr.. Opdyke for bis undersigned
confirmation of the soundness and truth Of all have
uttered in opposition to the cry of manufacturing
monopolies." Mfr. Opdyke afiirms that " exorbitant
production"-that is home production-is the great
danger Of American manuiactares-that " the manu-
featuring interest of our country" is in peril of gene
raj bankruptcy" through the eonjoint influences OF
"home competition" stimulated by Protection and
succeeding Revenue Tariff viii not Mr.. Kasson
and Others appalled, by the prospect of manufacturing
monopoly heed Mr.. Opdykes statement We do not
share his apprehensionsi but they are far better
grounded than are theirs. Manfestly, both cannot be
be justified: For if domestic competition, stimulated
by Protection, is the chief danger of our manufac-
lures then the bugbear of monopoly BE- few existing
establishments is a baseless illusion.
NJ. Opdyke was known in other days as protested
bullonist; this year he has been active and con-
spicuous in resisting systematic contraction with
view to an early return to specie payments. He does
not enable us TO comprehend him. While almost
every one says, 1--WE must stop the export of our Nation
al securities to be sold at twothrds of their face to
meet the adverse balance Of trade created
by the excess Of our Imports over our Exports"
there are some who say, Contract the Currency"
Others, " Increase the duties on Imports, and we
agree heartily with both. Mr.. Opdyke, on the other
hand Opposes both. He will have neither the Cur.
rency contracted the Tariff increased. Are We
to understand that, so long as he can make money
By importing goods, he cares not though the country
rushes right on the breakers Of National bankruptcy
We do not wish to believe this; but what ran he