New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-05-18

they maintain their position In our own mar
ke reducing prices 10 the lowest rates consistent
with the prevailing cost Of labor then foreign competition
with our labor the danger most 70 be dreaded b
ndusry and most likely to prevent the regular receipt Of 'e
well known that shippers Of goods 10 this country take
u advantage OF their power over markets both for Their
adv and fOf Not only sOs5ch IS com
merca seustvenes in the matter OF prcehat the arrival
Of unusual Quantities OF goods at affects prees
before they offered for sale and prices not uneqnely
give upon report Of orders abroad for goods
which arrive for many weeks This il Is among other
dreaded Iparayzes domestic industry II is ful variable
dscouragine, and sometimes overwhelming
Dependent and must continue 10 be- upon our
and as the prices which home made articles mist depend
upon the skin vgor and Of home production can
subject domestic laboers 10 competition go
destructive trade with Europe without due pre-
cautions by possible effort by no possible EXTENSION
trade could the people Of the United States be
so well supplied with the necessares comforts and Injuries OF
life they by home production Inc lhdspensae
national policy uphold and cherish that Industry 70 when
compelled to look for nearly all that meets me wants o.
production for the sake of Purchasing much less quantity o.
cheaper commodities from abroad Nor can j be wise 10 Ell
pose our home production the full effect OF competition
which keeps half whole population almost hope
less struggle profit for existence II cannot be vse
is 10 reduce aborer this country condition Of those
in Europe to morale remuneration and intelligence Bu
be expose industry Of the country to disturbances
which seriously impair its ability TO endure permanent
II he large sum Of $500 600 900 yearly which apparent
must drawn addition to the amount yielded by the
by public expenditure the channels OF industry
from which drawn It is evident that the process cannot
receive this amount from the e1pend large
proportion products Of foreign industry the amount so
expended be uay and retained from the capta
of our industry and that extent must be disabed
So II that portion Of the population ENGAGED IN proess,ona
eXpend considerable proportion Of their incomes upon the
products Of foreign lands IN that proportion ey e
thus expended, and derauge that domestic system
which make nation prosperous 6nd powerful
has happily called The Harmony OF Interests which should
II our country is to attain that prosperity which within
its reach and which will place and keep II N the very iIon
industry from free competition with the cheap labor Of other
parts Of the world 1t policy 10 bring down
aborers the rate of wages prevailing e.ewher but
maintain them higher platform and make everything else
correspond Deyerance from some Of The worst evils OF a
cheap labor competition will so strengthen and consolidate he
productive OF the nation and add 10 the national
wealth that our present taxation will seem sht burden
compared with the determined r'ary OF foreign M9nsiac
turers continually tempted by the great profits which lie
between their cheap and our hisb.priced labor
should been policy 70 make sirlet am
skilfal adjustment by Of tariff between wages Of
labor home and abroad For want Of tho, cor
Industry has suffered by the fucuson aud other inedeh
foreign trade los than can be conceived 9y those
who carefully examined the subject with fu means
Of information Great az has been we posess 81 se s
featuring industry Of the country and great a. nae bee ne
believed on much Investigation that the individuals who
reared this vast structure have never realized per cent
on ShO Would have BEEN svSs polite r the Country to
do indispensable financial necessity Our
the cost abroad and home bot also the burden Of
The internal duties levied upon home products THIS If now
arising the great number Of articles and occupations
taxed has not only neutrazed the foreign or estom dute
bat many produced heavy discrimination IA iaYoF o
or home nrodneton has seldom been in greater peril than
al Fore manufacturers and merchants never
long discovering sfordHg them soeess to our high
st trade with The United State. Offering more and greater
advantages than they have enjoyed IN this country Tor many
high The result OF many causes connected
Z he hasf
the combinations OF specuatos and the age ana IA
the excessive imporations with which the countrys now
threatened Foreign merchants manufacturers aud bankers
Know sufficiently well that the bonds United State.
As good be- ssled by shy IN The
world Despite long continued efforts 10 dscTed them they
are flowing steadily the possession Of foreign capitalists
destined 10 Weld large profit distant day bond o.
United States is worth as much nirnsleay for inyes
that portion Of Engish eonsols which VII Yield In
interest the same quantity OF goid.
the Continent now willing 10 take bonds OF TIE United
States for proceeds OF ali shipments Of commodities to
this country long as The bonds can be had al pes Nheh
viii Weld per cent interest and much more readily when
bonds be got al rate now yielding nearly nine
per cent. ,-,,..,,, -
in Europe s that the foreign purchasers eau obtain hen at
the low rate they are nor disposed 70 CIV. more zoo teLs
OF the special demand for TO pay custom duie 70 ne sogn
Of sc ~ a IN 'nss and ps S1s y. IN rod a.
premium. II the merchants and Manufacturers who now
FOR gold they realize premium OF A. per otn IN our eur
rency and then take the bonds par. or u they eel then
u
nar and 600 in these bonds hold IN Lon
don than a2o6 es the equivalent at paT IL sterling.
At present these offer Tie largest profit
shipment Of foreign goods TO this country Those
this movement now realize high prices Tor
their goods seriously injure manufacturing Industry
weaken their rivals and obtain orr naiiona pond az heavy
discount These great advantages thus offered 70 foreign cap
ias fully TO detrmeni a. 70 their benefit They
imper productive power our ABILITY 70 pay 'aie ana
In fact our whole financial system They sap national
strength they continuously damage domestic industry by
substituting the products OF their by deprving our ia
borers Of employment while obtaining IN our markets. he
OF s@DGys 1s who s buns
good ground for these appTehensons proved
bv the belief in Europe entertained a. fully
this country that the quantity OF goods 10 reach our shores
Europe this year Is 10 be greater than ever known
Intelligence by arrival from abroad confirms TINS an
In the midst Of without precedent In rs importance
and ma guudc IN exceptional position, demand
ing immediate and special legislation and public action We
are now commercially aud financially IN exceptional aud
cost The country nearly II not altogether thousand millions
OF our money failed TO in the bud Let not this new
This subject Is TIM. dvet upon and might with advantage
be more distinctly because bears with special sig
nicance upon ability Of the country pay
70 maintain public credit upon increase OF
is the policy Of European Governments to keep wages
low that they may manufacture for the markets OF the world
England holds million OF her people in pauperism. constiu
ting reservoir OF cheap aborers from which she may recruit
feeding and bad lodging Four millions more in position
10 thrown the parish the Kindness OF their country
or on ' o Tss qiI, Woud Be- pe
or humane aborng population 10 that condition.
Would be economically wiser Would add 10 national
strength Can any who understands the true interest OF
the country wish it,
We capp9t wisely blend the European system OF industry
with our own They mingle than oil and water.
The producing here have risen already 90 lar In the
scale intellect and knowledge that they cannot be forced
bach Our policy is not lcgsate people down. IL V
rather to guard markets and prevent access 70 them bat
on such term, cannot nure working people nor lessen
our productive powers. -,
European manufacturers at all times furnish limited
nuantty OF goods than half the amount OF prices
II they could furnish fourth OF consumption at those
raes il would not be good policy 10 take hem because II
would be far difficult for what would supply our en-
tire eonumpton furnished bone by labor than for
fourth imported abroad II is easier TO purchase eight