The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1867-03-17
PROTECTIVE DUTIES NO PRoTHc.

TION.
The Chicago Tribune has become so mystic
fed in lis efforts TO master and apply the alb.
stractions Of John G. Calhoun, that 1t utters |
the baldest absurdities, with an air OF
the most oracular and crushing authority.
Some time since, 1t published lsbored edit
oral, to convince its readers that duties on
imported goods, however high they might be,
had no tendency whatever to decrease impor.
tations. Whence it follows logically, and in
evitably, that the higher the Tariff, the greats
er the Revenue. And If so, the only wisdom
required by Congress, TO secure the payment
Of the public indebtedness, is TO impose q
sufficiently high per cent, based upon the
importstions Of last year, TO pay the public
debt on the basis of the like importations for
the present year. For, the high duties won't
diminish importations; and there will be
no special hardship, as nobody is compelled to
buy foreign goods, and therefore no one
need pay the duty unless he chooses TO do so.
This brief Redactio dd dbsurdam shows
that the position is utterly groundless, and
the series of assertions, not arguments, by
which it is supported is utterly destitute OF
truth.
Senator Grimes whose speech was magni'
fed, quite up to its merits, in the Chicago
Tribnae, based his opposition to the tariff,
in part, on the express ground that, it would
greatly diminish imports, and thereby de-
crease the revenue.
Reason, observation and experience forces
every man of common sense to differ with the
Tribyne upon that proposition.
But in the Tribune Of the I4th, we find
another lsbored editorial of like character,
without single argument, but with abund-
ance of bold assertion that Excessive du-
ties are not protection to the American man
ufacturer."
Now, that proposition like the other. is in
utter contradiction of all history and expert
ence, and of the theories of all the advocates
of protection, and OF all the advocates of free
trade, in the past and the present. The
Tribune contradicts it every other day and all
its comfeers and parasites, contradict
it every day in their Examinations against
the "swinding protective tariff concocted
to enrich the wealthy manuturers."
Here, is the process by which the Tribune
attempts to demonstrate that high duties on
Foreign importatons, furnish no protection
70 the American manufacturer.
The m oment the cost OF the foreign made ar
tcle is increased from dollar, by the imposi-
ton Of duty Of forty per cent to one dollar and
forty cents the American ufacturer, instead Of
selling his goods ~ one dollar and twenty i've
cents, and thereby occupy the market exclusively,
advances his goods TO one dollar and forty cents.
He accepts the increased dvty as income of the
value Of his stock on hand, and proceeds 20 com
pete with the foreign manufacturer At the latter .
own prices. The consumer, finding that the '-pro-
lection" which has been extended TO the home
manufacturer, has had no other effect than TO in
crease the price of the article both OF the foreign
and home production TO dollar and forty cents,
is perfectly Indifferent whether be buys the one or
the other, and in fact other things being equal,
generally gives the preference to the imported al
tiele. The foreign manufacturer, who, by the i'm
position of duty Of forty per cent driven
from the market and utterly unable to compete
with the American, finds that the price Of the
domestic article has been advanced TO the full
measure Of the duty imposed aud forthwith he en-
ters the market again, selling upon equal terms
aud at equal prices with the hong Crowded \, ~.
short time the latter hnds the home and - Z.
.rtlcis 90 sale together, and they both commsnd
the same price. The American r--duoer immedi-
Ately demands additional protection" If an ad-
ditonal ten cents be added TO the duties the price
Of the home made article is advanced ten cents and
again tn importer enters the market, snd,so on
if the duty be increased to FIVE hundred per cent,
II makes no difference In the end TO the foreign
manufacturer, because the price Of the domestic
manufacture is also advanced to the same level,
thus destroying the exclusive possession Of the
market which efecuslly secured 10 the
American producer by the duty Of forty per cent
as it could possibly be by any higher rate
Now, every man Of common sense knows,
that this is not true as matter Of fact, and
could not be true in any sense
A profit Of FIVE hundred per cent don't in.
crease the quantity of American goods mans
ufactured, but only raises the price TO that
extent on the same quantity when the profit
was FIVE hundred per cent less, contends the
Tribune
The assumption is so utterly at variance
with common sense, that no man can believe
1t. 1t is, that in this great country of shrewd
Yankees and enterpnsing Western men, an
assured profit of FIVE hundred per cent on
investments has no attractions, but millions
are suffered to remain in bonds drawing
$40 per cent, while an unlimited field is
open for profits at the rate Of Eve hundred
per cent
Everybody knows that every profitable
branch ofindustry, every avenue for paying
investments of money are crowded, and that
the business is pushed to its utmost limits
The position OF the Tribune not only sets at
nsught, all sound and acknowledged princi
plea Of political economy, but impeaches the
business capacity and common sense of the
American people.