The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-01-23

leaving surplus or annual gain OF s75e 600 900 AZ the
product OF 1896 about the same in gold value a. that
amounting in currency in 1868, at 140 for gold, 10
057 600 Geo. and OF this amount 1861 900 600 In cur
rency was paid TO the government in the form OF sxe
These figures only interesting and instructive N
their details but the grand total Of the public earnings In
currency-$o ass 600 0o0almost surpasses belief and
induces the thoueh that the human mind Is scarcely
capable OF conceiving the Of the material re-
of the nation when the enterprise and energy Of
our people shall have been fully developed. Tho trgu-
ment that impos duties direct tax upon THO con-
sumner without any compensating benefit, which II true
would fall most heavily agriculture have
these remarks, and but restae what have said when
assert that the soundest Of the recent writer's upon po
tca economy, especially those OF our own country,
deny the truth Of their assertion and that they are sns
tanned by rigid examination OF the facts and careful
comparison of results under different systems admit
that British writers on political economy who assume
the hypothesis OF free trade have occupied that field
for more than half century, but the nnsoundness OF
their theory has been shown, not only by the closer
reasoning II later writer's but also by the wsest prac-
ticsl statesmen Of all nighy prosperous countries Ma
poieon tho Great Is reported by Tascas 70 have sad
'dues which were so severely condemned ~ pohtcaI
economists should not is true, be an object TO the
Treasury they should be the guarantee and protection
70 nation, and should correspond with the nature ana
objects OF trade Holland, which Is destitute OF pro-
duction and manufacture which has trade only OF
transit commerce. should be free or all letters anu par
rers France, on the contrary which ncn IN every
OF production and manufactures should necessarily
guard against the Importation OF flvni, VINO
might still continue 10 be superior to her, and
mere brokers have faon into the error Of mod
sympathizers, who imagine that all the wisdom OF
nations is centred In themselves experience IS Inc
true wisdom nations and what does all the reasoning
OF the economists amount toy" Al another time he
said aIf an empire were made OF adamant political
economists would grind 1t to dust For myself pre-
fer TO accept the practical wisdom OF ns great man
rather than the specuatons OF Adam Smith and his ds
cpes. IT. them 1t has osen shown by practical results
that tAn III, NJ for Of years, prices ara cheap
ened rather than advanced by protection to homo manu-
factnres o. stimulating home CONSUMPTION, anu Ina.
there harony with instead o. 70 Az p ,ae
which the free trade HYPOTHESIS is built 10 destroyed and
the whole fabric falls But suppose for the sake Vi ar
advanced 70 the extent of the duties imposed,
it does not follow that 1t is actually dear
10 the consumer Full employment 10 the
isborer Increases his power 10 buy and consume and
agriculture conessedy suppesa large part OF his wants
The who makes the plow and the The mower
the reaper, whether he does II in England or in
America must be fed. II be be an American artisan
the fully you keep him employed the greater his
ability TO purchase your products he must OF neces
what the farmer has TO SELL Twenty years ago last
autumn said Mr.. Catsell embarked in the trade OF
breadstuns in the city OF Philadelphia. AT that Time
and for some succeeding years. the entire volume OF my
business made up of consignmens or agricultural
products from the valley Of the susquehanna, the
Juniata and Lehigh. have not the figures al COM
mand, but am that speak within bounds when i
say that my house and the four Eve others doing
business the points, most have received from
this quarter four i've millions of bushels Of cereals per
Philadelphia is still the natural market Tor the
surplus products OF this terrtory but for some years
there have not been consgnlnenis enough receiV ed
from that entire section 10 realize COMMISSIONS sui
fcient TO pay the salary OF receiving cerk. Do
you ask has production fallen on? l answer, no, on
the contrary II has increased, but the whole line Of
these alleys has dotted with furnaces and FORCES
and rolling mills and workshops filled with operatis es
and the consumer Of agricultural products has been
brought to the farmers doors He now finds ready
market for his products al home al prices eqGal!tns
ruling the senboard OF which ho avails himself
thus all the cost Of transportation and factor
age equal average prices to about twenty per cent
nay more, STR my firm has frequently within the
past few years sold and shipped 10 tho mers in one OF
these valleyshat which the iron interest has been
most developed. tho Lchgh-wheat drawn trCm Michi-
gan Illinois, Wisconsin aud Iowa to supply the deficiency
In the consumptive wants. and those products OF the
prairie sold too, at price far in excess of
country the face OF the globe. As consequence Of
this state Of things land has risen value through all
this section, and farms that could have been bought If
teen twenty ago at $40 $50 acre are now
liable At $160 and $500 per Villages have grown
10 be towns towns have grown 70 be Cities agriculture
End manufactures have casped hands, and prosperity
reignA
Mr. SpRAGUE, (rep) OF R L. called attention TO the
cessty for increased protection 70 the linen interests in
this country. He thought manufactured flax ought TO
be admitted duty free 10 encourage the manufac
ture of linen In this country.
HxEcuuvg SESSION. 10
Pending the confederation Of the bill! the Senate wen
into executive session, motion Of Mr.. CoSSEss, and
after adjourned.