Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1866-04-11
From the New York Evening Post, Republican,
A Significant Confession.

From the New York Evening Post, Republican,
A Significant Confession.
If we were to affirm, without at the same
time giving our proof, trat the Tribune
newspaper, the champion of the protective
system, has declared that system, in its APP
plication to our own country, to be most
deplorable and disastrous failure, that eX-
emplary journal would doubtless meet our
assertion with fiat denial. Yet here IS
the confession, in so many words, that all
the heavy duties imposed from time to time,
for the benefit of our mill owners, are SO
many vain and Intellectual eXpedients to
put their industry upon a prosperous foot
ing. Speaking of the advocates OF Tree
trade, the Tribune says
"One of the most popular delnsions they
have established is that manufacturers Ill
the United States constantly realize enor-
nous profits. The inquiries of the Internal
Revenue Commission, on the other hand,
demonstrate that the brave men who
have reared through our changeable in
dustrial policy the present structure OF
American manufactures have not realized
two per cent. on the investments made
during the progress of their work 1t can
| be shown that more clear profit has been
made in the United States by foreign man
| uiacturers than by our own. Indeed. II the
| history of manufactures in the United
States were truthfully written, it would be
written in tears. There is not county in
any one of the older States which has not
plentiful monuments of disastrous indus
| trial enterprises in which generous pro-
iectors consumed their estates and wore out
their hearts. The account books OF Amerl-
can manufacturers will show that their
profits are large in only two or three years
in ten; that for two to four years OF that
time their profits are small; that they never
escape ten years without years ofheavy loss
or total bankruptcy; and that half fOt all their
time is black with years of anxiety and
care"
This is frightful story, told by the Trtb-
une; story of capital unemployed,
story of labor thrown away, OF the devices
of statesmen and legislators coming to
naught, of burdens imposed upon the peo-
pie without any useful results, of abOrtive
enterprises and disappointed hopes. What
is a system worth which bears such fruits
Ever since the days of Alexander Hamil-
ton the country has been subjected TO this
experiment of the restrictive system; and
all that its advocates can show of its bene-
fits is comprised in the few sentences ofthe
melancholy confession which we have eX-
tracted from the Tribune. Mr.. Hamilton
and his contemporaries were long ago with
Lycurgus and Solon; another generation
arose and passed away, and now third is
on the stage, the protective system going
on all the time, with no improvement in
the condition of the mill-Owners, and no
prospect of any, if this foolish and unhap-
nv system should be continued to the last
a1e of the world. The history of our man
ufactures, says the Tribune If truly writ
ten, should be "wrtten in tears" "GeRS
erous projectors" have set up their mills
and employed lobby members at Washing
ton, and worried Congress for high duties,
and very often obtained them; yet in spite
of all the patronage OF the Government,
have "consumed their estates and worn out
their hearts," "Heavy loss or total bank
ruptcy" are what they have experienced
under all the imas sinary advantages of pro-
lection, and of course nothing better for
these enterprises can be expected hereafter
Halt their time," says the same authority,
"is black with years of anxiety and care"
The average profit obtained from the large
outlays of capital invested in these under
takings does not even amount to two per
cent.
This condition of things certainly de-
serves the epithet which the Tribune ap-
plies to it; it is truly "disastrous." But
not only is it disastrous to the mill-OwnerS,
it is also most unfortunate for the consum-
ing class and for the country. The manu-
facturer loses by obtaininganothing for the
use of his capital; the consumer loses by
being obliged to pay for what he buys twice
what he would pay if commerce were free
the Treasury loses by not receiving as much
for the duties imposed as if they were mod
crate duties, laid merely for the sake o.
revenue. The manufacturer does not
therefore, suffer alone, but has host o.
companions in his misery. The protective
system is false light, Turing the manutac-
turer to his destruction; and involving the
people and the Government in its mischiev-
Gus consC quences.,
1t is most surprising that those who car
plead so eloquently against the restrictive
system should yet labor to continue it In
existence. After the long experience we
have had of its utter uselessness as mean!
of enriching the country, why is it that 1t |:
not abandoned? Why, when it impover
ishes the mill-owner, the consumer and th(
public exchequer, will certain set of poll
ticians cling to it with such fanatical ener'
gy? If those generous projectors" whC
embarked their capital in undertaking.
which brought on them such "heavJ
losses" and in some cases "total bankrupt
cy, nau DuG employed Cnelr means III sOul'
occupation suited to country with sucl
almost boundless resources as ours, and hat
exchanged the proceeds of their enterprise
for what other countries can produce at
far cheaper rate than we, the hec0untry woulC
have been enriched in the same proportion
as it is now impoverished. The capitals
would have rejoiced in larger returns; tn
tears of which the Tribune speaks wouls
have been changed to smiles. The con
sumer would have purchased the commodi
ties for which he had occasion at NOR
reasonable rate. The treasury would hav
been more literally replenished, and th
burden of taxation born by the people di
minished. ........
What shall be done with system which
besides the disastrous results enumerate