New-York tribune., 1867-02-19
PROTECTION AND COMMERCE.

THE World comedies that our several Protec-
tive Tariffs did not destroy nor seriously di-
minish our foreign Commerce ; but urges that,
when the Free Traders predicted that PrOtec-
ton would inevitably destroy our Commerce, they
meant only that its increase would be prevented
thereby If that ,Uas their meaning, they GER
tainly expressed it very awkwardly'
The World continues;
Ono reason why there may he commerce In spite OF
hgh tariff that the protected industries cannot supply
the market Other pursuits are so profaDie anu
ness Continues to flow to quite extent in its natural
channels have had protected iron for example Tor
S ron SS Than WE have made because the native producers
could not possibly supply more than small fraction OF
Ought we. by still higher duties, to have Kept
the railroads waiting until the American pro
mandi Such policy would have put back ciylliza-
ton this continent for century 10 nave p9t caI APP
road demand as II IN this country would have been
impossible American capital sufficient for that ppIIe
did great portion OF tho capital for building our r
roads, we must also have looked abroad f9r the 10
own iron. could have borrowed neither The railway
foreign IRON the iron being paid for By the sale of railway
bonds the foreign market. The iron could not nave
e Capa IN enog IN the son to place the bonds
In the first place; and because IN tho secod aCr
was capital enough to produce the iron TO have
sble." m
Comments By The Tribune.
We cannot take room TO expose all the
fallacies embodied in the above extract, but
will briefly deal with few of them:
|. Our iron makers and manufacturers gen
orally not only could but gladly wOuld supply
our markets if they were allowed to-supply
them as amply as our manufacturers of news
papers now supply the demand for their wares.
We have always scores of furnaces ont OF
blast and factories standing idle because they
could not be run at profit. And there are
tens OF thousands among ia perfectly compe-
tent to produce Cloth and Iron in abundance,
if they could only obtain fair remuneration for
the required labor and skill. We should double
our current product of Iron within the next six
months if it would pay,
H. Nor is there any Lack of Capital more
than of Labor. We lose at least SlOOOOO,OO0
Capital each year through the lack of adequate
employment for our Labor. If tomorrow it
could be rendered morally certain that One
Hundred Millions invested in iron-makng
would pay an annual profit of ten per cent
we could get that amount subscribed III three
DAYS by Free Traders alone. They have
no objection to making money 10y max
ing Iron if they believed what their own
journals assert as to the extravagant profits
of Iron making, they would he into it all over
this week There are mines enough 10 be had
dog cheap, with every needed facility; new
iron-worbs are easily and quickly constructed; {;
while old ones in abundance may bc bought
for half their cost. The field is open to
all; but Free Traders do not make Iron,
simply because they believe they can make
money faster by doing something else. And
we do not need 10 borrow capital abroad, and
ought not to do it. All we need Is to use our
own Capital and set our own Labor TO work, as
we did under the Tariffs of 1923 and 1872
AS we should do under our present Tariff, but
for the diversion of labor and capital by the
War and the general initiation of prices caused
by our bloated Currency and oncrOus Taxation.
Give us adequate Protection, and we shall cease
10 run into debt abroad. while we shall add i'm
mensey to the aggregate length of our Rail
roads, the number and value Of our mills, fur
naces. factories, &c, by the more thorough en-
plOyment of our own Capital and Labor. We
never lack Capital nor need to borrow abroad
while our Exports of produce fairly balance
our Imports.