, 1866-01-19
POLITICAL ECONOMY.
Another Letter from ssProtec.
tiOn.o

Another Letter from sProtec-
tiOn.o
TIE ColnProInI%e Act of IE3I-J-EQcct
Of Reducing tho Tariff by Degrees
Tie Lie and Trust Companysn Fail.
ure ConA3dered-SVhy Henry Clay
Supported the Compromise Of 1925
Another yEoos1y .1rttcle Forthcoming.
Editor Chicago Tribune:
Your correspondent 81. II. L., conyicts
NC of misunderstanding his account of the
velocity with which the tarif of 1873 was re-
duced by the compromlse'' act OF 1882 s.
I had not the act before me and was OBLIGED
to trust to his somewhat blind abatement of
It. But his correction of my error falls to
help his side Of the controversy. It brings to
Light that the "compromisc'' reduced the
tariff OF 1ses great deal more than 81. II.
l." stated in hts former article. We are now
favored with tLis extract from Bepton'a
synopsis Of the bill:
"1b leading provisions were. p7,o3saat a,szuat
deduction Of o,efeatA Of The fsrskst daes for sepe
yecT*, aitef which III the remaining. duty above
twenty Per ctHtpm On the valua should be equally
dlE1ded INTO tEo parts, md half struck or 1t the
end q one year thereafter. and ts Other ha!f a the
e end e ano5e yaT 70 !hs1 It the end Of nine years
on the vaine with lit Of nee articles, md no mora
ieai suppo q 10 Of the nessss 'ot 1ne oeonom
So II appears. accor,linc to Ren,on that
each year for seven years, oue-tentb Of the
duties le1ied by the old act Of 1928 was to
bs rescinded-that l., In seven Year,, seventy
per cent, or nearly three-foutths, OF the tariff
IVES to come od;, after which al the remaining
dutics above twenty per cent should be struck
49, 49,. ~ 49,. 80 .ue otu., uAa lug ne1'
seas' - ula' tue on'J On no Asnele snoald e.
coed twenty per cent, and range from that
maximum down to nothing. ! ,
am obliged to ~. q. L." for this informa-
|1.1 c,t r---s,s.-s. ~. 49, s ~
o'o9e lol IL: = no" sap1a', a tna' on anas snow
ing, the ta1M act Of l6I9 vas fha nearest
approach TO absolute free trade we have ever
had since 1910. unless the act Of 1867 was a.
low. Both tariffs uroyod wholly fnadeonaie
to furnish enouah reyenue for the snnnort of
~. co-...,-,.,,3 T., 4,..a - -a.s ,.s.t y.
're ao' s,,l nn1 ~ -uae VI peaee' !" LIN navy
oi oo2en sal4ins sloops' ana Standing army
Of dozen halfhled regiments. The disas-
trous effect on the business Of tho country OF
the comproulSse act of 1929 has aIraadv
tsen snf4c,cn+1v 5-sc-,haa II %.
,,s-ao- ~ .,:,.s,asar,..s -
olanee1 u A1a'eenAnsh1p 10 reauce ~
by slow dcsrees-letting 1t taper down
to the little end Of nothing. 1t was like, the
net of tie lov who cut off Ills dor's ta1l. 'ons
,ot,t AZ :. +;m. ~ ~ hrr+ ~ ~. =,
S"s,. ~ ~ 80. aF.t 49, ~ ss. .sS -. Soe -.
- " ,ser - " h ~ s1e m1a % bas ees
Il s ~sle II IT., "isSl sa 70 aASe msoG ihe WHO'S re.
dustto1 take AZ cue elect -, a. once. When tarh Is
nro' 1ne n1t , ,na. M 1s eea
e. cru .S'e1 I,,,a,;,'as nsu na LII t anag
70 .htoN . Mnu.Iues u msGaaaies anu a.
W h,o ~ r. ~ a,nI,,cs 11a., ~ tus nai @ n1sp -
su,t H. soa3 ~ M then ~ % hms;nsss ea 70
1nar e s1nEa shait 'at ana onso oTsness hn eo
sne+S, inc PhonS e. 10 ,. aaG oo'tom Inc
to1nel Was.. tnsy nu pSEan 70 TIE " 1sA4.
a,.nooa 1oos eonIt, s soni =. Ii ~ ass sqe
,a4a,t,n,, as -" thao aisaan n. ~ hs
,ndo1,h4adiv ~ ,1ntant ana ~. ss1,n5 ~ a1arri
tnTr,s 10 ~. fd frsde isann-e s.n ent;cb bi,n-
ec1} 1Ie nro,e.se. tn Sare disco,arsd eus 4 that
tbe financial rnyuls1on o1 1s5z-s "a, ra,,,i hy
tbs sns,a,s,o, -T ths nb;n * snd T-,t:, ~
Eomnenr Why - f,id nj thc IN snsnens;an s vi ~
etnh,,,I + ~ vhtoh ~ 1.fI.,se .s..i.. =.
ors.far ,nar,,;.de csu.e sr.nr;o, rs-,ssa!a
IN 1stS5 dnrinr fha sytstcnce oT nu, "i1;rh XIX
tariff s 'A0 s17'ese " o'' 44'a
W TSa ~ on.otz.nt ~ tso ,1.ar ~ ,eec i,
-, tne eaactens o. ne low tam OF lao0-1
-. en1 '.a - a4tu. " .0e cpun-
H!- - n.islpL "ns tnaue 10 coosnue hiGa e!
rafah T., tJova .i, - fn ~. y. low Ial.n,
LII ,.t,,ia.. ttJ,;. n..LsN !mpCse!ptAty:
tsMa - L.ns, ~ liz ~ %uI e1I.
ruieotnad NJ 1 ~ ase Mp ; nut IT,, - ane uAaRs
R1Sea est o. - cow was feaueea 10 the stanaatd q
ntuatsu ,aAS Soltenc5. Apolte.s - ouce aouo'eo
da.a -. g. ~ @ ~ Auas. soous, anu ~ " 9s
ua asis W at uon ~ ~ a0aus sooos tney ote" me
T1'u ta ou1 ~ =, en s,st tf,aa anu T., sn1ppfu 10
ind1g sd a. enoEH tmn aae oahks @ msse
aecn'aqieg INV d eaAfnea 9seI Inc 1gses % o.
fpSSu4aI'Vn AuESu 4IaiutJ. 1oolle
we're growing suddenly rich, Is IN iGn, b
anu ILL ~ uepa w., aHs u,4
fsS7 shoot tba;e haaJs h,,t az rnnet.
tsf1ee +saders, ,noclsd tte1r ~ fssr sns sita5
them o3d cnwanIlv fno1. md fariss ~a and
nInnced @ ~ deeyrr tnio s sf1ee a rada Il verV na
sba1f tn1ch the ,nsdch ~, so tha 1aEiers Thnf ~
ia T r1uu rag,1n1S ~ enG t ana anu Ale
ant anu .ha l5ost So.apay 'lum % annesns oscaI or
oea 81, eaus a. wv pas ~ a, u o1em y,
~ ~ au t.h r. ~ 1T .os. ~ oias' W A 70
,aa in a,iH aod M ~ nA b
aan. III arn. tua.e1. ~ & s1is'eo u aouaa-
a..1. a.Te 81 o'et ane land tano' Inc re-
su.s t "uu g.oF
erS- ey@ooai on ata ssaa Sna pe,sons. came aosn
anS ,a,nau ,an - - inc lt%s ~ unue ~,
~. na nnche1'," ~ % @ 1s ~ ~
Tnba..;s - -. aao. S.1t aae mass
q mecnanies ana o. Aaooresa ieii ioT tims 10
.as " s.at .a.inn Pt a pa sht .n.l naa
oeen so teIl1oy orniseo ano GtlpP'ca tnat taey
MIs anapie 10 resume 9s pasanceS 1u; ana Gmploy
tasr osa n5aus ,y ~ aoy ras@ VII Mnen % t4o MN
Ga.nGnceu, G3. nusincss mas s!ony iGf!sInE;
1t ns eeo.u h o. .ne 1osi a,, aea ~ sos'on Q.
ioaia tooi mhs pE Es4,;sa a,.s,, Huu ug "sla
.IaI'1 1his ~ ;aWhat ~ ~ ~ 1aog aaousig a1a sna
Il sWat3a,-atya, J, Tnm ~ 1ass ps tiio ~
"sh - ~" e ~ 49, y. ne3os' ~. anu 70
1.si,,,.o - ~ a. ~, sra T.,st T., ~, .as
q u o,,enra LIN ~ o"1 Aass asar;fn GUupIy Ky
nax.e ~ "0sa 4ha 1ate +r.,,andnns ,.as .os
tass- t.ass.o,, - H. H4. .a s,..,. ~ ~"
esresu tue tNoltn a.,n o"nln ~ lao I1ailss-
tom as, go46s3ohen1 afs % q ro1s samte. ~4cn *ss II
.llaEaff .ae tisna! !ol tae "h1 70 pefaa-lns
tousa4nE o. lae ma1cn 70 me prefaoasly PFC.
pafca IRAN o. powder. bat the worst Paf1 70 q
~. =. -" psIEersions Is, TO charge 'iOld
Uoeto1 G!ay e, Mi1n I9e repeal OF the protec-
i've tarah o. ta.si md Supposed that every
American abose me age 81 fifteen yea5s, who
can fead. kne" tna1 tnlhoun and he cot.
Ion ol'sarehg 1oreea ne repeal OF that
ast I'M anu LaaL eSetyoouy new taa1 son.n
tnsol1na WEE On 1he eve o. open fehellon, IN
nfoer 70 r eoetee Gonssess lolo fepeai.nS thas
taf1n. lhe mcinoets t5om aozen Southen
stales more q iess Maeo ana aoettea nes N asr
1tma;nas, Ane sas s.ts oa aemoGtasie
PONIES esely ydN; Mnc.v n lne soula, sympathlzeaa
Gala Gtn,n Inc nnlnnca''on LAWS passed oy soath