The New York herald., 1866-07-05

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Bill OF Abomtnattons
The discussion on the Tariff bill in the Iouse
of Representatives during the last two three
days confirms our previous statements tht the
measure is job to enable certain manfactu-
rers and merchants with large stocks oigcods
on hand to increase their profits It is abill Of
so great jobs and denominations that thePresi-
dent should lose no time in vetOing It, hould
the radical Congress send 1t to him. Notone Of
its advocates has thus far pretended tht this
measure will increase the revenue of tb gov
eminent from imports, but on the contrary, its
passage Is urged as prohlbitory measure, to
cut of oil competition with our manufacturers.
In other words, 1t Is q scheme to authorize the
New England manufacturing companiel and
the Pennsylvania iron interests to add to their
present prices Of goods and wares an increase
of price equivalent to the duties fixed il this
bill. THIS at any rate will be the result, or
else our past experience amounts to nothing.
] On o former occasion, when the same interests
which seem to be besieging Congress for
this measure secured the passage Of
| prohibitory tariff law, the avariciousness
OF the very men in whose interests the
measure was adopted defeated the end
aimed at and secured so great reaction
in public sentiment that the other extreme was
adopted in q subsequent Congress. Such will
be the result again. Our manufacturers will
increase the price Of their goods now as then,
and the relative price between home manuhc-
lures and the foreign articles will be in pre-
cisely the same ratio as now, making it just as
profitable to import to the full extent Of The
market demand then as now. II is true that
the mechanics, laboring men and farmers will
be compelled to pay more for the same amount
| Of goods, and will thus enrich a few capitalists
| who have special privileges awarded them by
this kind oflegislation.
If, on the other hand, 1t should accomplish
what its advocates pretend that 1t will-shut out
foreign goods from this country-then it will
deprive the government of q ldrge amount of
gold revenue needed now more than ever be-
fore. This loss will have to be made up by an
increase of the internal revenue tax, and
thus the great mass Of our people will be
compelled to pay an additional price for
the goods that they purchase, and, in
addition to this pay to the government
larger percentage upon their income and
all other taxes, to meet the interest on our in
debtedness and the current expenses of the
government. All this the protcctonsis are
demanding, that o few capitalists whose funds
ls invested in goods. manufacturing and iron
interests, may make still larger profits. This,
as matter of course. is based on the theory
advanced by Messrs. Morrill, and Stevens, that
this new tariff will cut of foreign competition.
But we have no idea that it will stop importa-
tons, for the increased price which our own
manufacturers will add to their goods will still
attract foreign competition, and foreign goods
will still flow to this country the only result
being that the people will be compelled to pay
the advanced prices. In the end it cannot fail
TO be injurious to the manufacturing interests,
for the radical change proposed will cause o
reaction and bring about legislation directly
the opposite as soon as another Congress can
be elected, and thus prevent that stability in
the laws essential to the success Of
| any enterprise. 1t will thus in reality
prove beneficial only to those who have
large stock Of goods on hand at the present
time, by enabling them to dispose Of the same
at an advanced price.
Representative Wilson, from Iowa, touched
the keynote in his recent speech in the House.
It will be we'll for the manufacturing in
terests If they heed his warning before it is too
late. II they will but stop and consider this
| question and examine into the movement for
| an increase in the tariff, they will find that 1t
really originated with those parties who now
have surplus stock Of goods and wares. This
is proved by the fact that on those articles
which have but limited supply In the mar
| ket but little or no increase of duties is pro-
posed, while on the other hand there b . largo
increase on all Of those classes bf goods
which have . surplus in the market This
fact alone is sufficient to establlsh tte charac-
ter Of the measure and stamp 1t as . pb Of the
first grade The unnecessary articles or those
which are purely Injuries, are Increased less
than any other class, while in some instances
they are reduced; yet on those which are more
or less necessary to every family, the duties
are largely increased-a special discrimination
In favor of the rich against the poor
and medium classes Of our population. II
is also urged by the advocates cf this bill
that II is necessary to stop impoftations in
order to prevent the enormous drin Of gold
from this country, or, In other wordg to reduce
our imports TO the amount Of ourexports in
order that we can return TO speech basis. II
the new Tariff bill would accompliih any such
results there might be some force Id their argu-
ments. But there IL no probabilitythat 1t will,
but that on the other hand the natiral course
Of events will bring this about mich sooner
than by forced Legislation. The PRESENT COM
plications on the Continent bid fall TO involve
nearly all Of Europe in war. IBIS Of itself
will deprive the producing interestof portion
Of its labor and place II on the sid Of the con-
| anmers The result will be that aless amount