Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-12-17
Il IuiOu aud gispateh.
TUESDAY,. DEcEMREK u. Iss7.
Largest Circulation in City and State.
HOW TO DEVELOP THE WEALTH
OF TENNESSEE.


In the preceding number of this series
We alluded to the premium given by Eng
land to encourage the, growth of cotton in
India. Croakers predicted its failure, but
the government determined to test the ex-
pertinent. and offered sepen cents per pound
premium on cotton raised in India and to-
day they are perfectly independent of us
for their cotton supply Was this not the
perfection Of statesmanship on the part ef
thsa wise and sagscious government If.
this policy, extended by England 10 all
branches of industry, has made her the
great manufacturing nation Of the world,
would not a similar system soon make Ten
nessee the richest State in the Union?
The United States, following in the wake
Of England, adopted in the very infancy of
the republic the principle Of protection to
the various branches of industry.
The third act, passed by the lirst Con-
gress, has tonnage dnty Of ffly cents for
every entry on foreign vessels, while on an
American vessel il was only SIR cents for
each entry. At this time England was
doing the most of our coasting trade, but
the immense premium paid to sustain
American shipping soon drove every Eng
lish ship from our coast. A foreign vessel
Of two hundred tons making twelve entries
in the year would pay a duty of $1,000
annually, while the American vessel of the
same tonnage would only pay $144.
To make the premium for American ship
oAsf h., t,f1 1,,fx
Of fortysfve cents per pound was levied on
tea brought into the United States in for
eign vessels, while the same tea only paid
a duty of twenty cents if shipped in an
American bottom, thus virtually giving
American vessels full and absolute control
of the China trade as well as the coasting
trade. The effect of this protection was to
double our shipping in one year, treble it in
six years, and quadruple il in eight years.
This policy has made all New England
rich, as her citizens were principally en-
gagged in shipping.
This same policy of protection was APP
piled to agriculture in 1920, and from then
to the present time by leYying heavy duties
on all agricultural products imported into
this country. This premium in 1920 was on
hemp 80 per cent. cotton, 60; cheese, 105
per cent snuf, so per cent; tobacco, I05
per cent, and sugar, 434 per cent. This
bonus or preminm built up the agricultu-
rel interest of the United States, and she
very soon became the richest agricultural
country in the world. Ii matters not
whether this protection is called premium,
bounties or duties, il is all practically the
same.
rr,y,-rzse ne 1,osrrrnA- o,- rup r,urorrony
OF PROTECTION.
The records of no State exhibit higher
evidences of sound practical wisdom and
| true statesmanship than Tennessee does in
| her system of internal improvements. The
present Legislature, imbued with the same
| progressive spirit and actuated by laud-
| able desire to develop the resources of the
State, has given the credit of the State for
millions to extend and perfect our railroad
| system. What has Tennessee done to build
| up and protect her internal improvements ?
The present internal improvement syse
| TEN Of this State was adopted in 1852. The
State has loaned to the railroads since that
| time about S27, ,000, 900. This State aid
built in the State over one thousand miles OF
railroads. 1t is well known that money
has for many years been worth ten per
cent, though the State only charged the
railroads six per cent, thus giving them as
premium four per cent. The State re-
ceived 81, ,062, 900 as interest annually and
gave them as a gratuity four per cent, or
| 81 ,080000 annually. is this not protec-
tion2 Every candid man will admit it,
Even if the money loaned by the State was
only worth six per cent, she was protecting
the railroads by loaning it. What has been
the result of this protection towards de-
veloping the wealth of the State2 The
value OF all the landed property Of the State
in 1852, when this system of protection to
railroadssswas inaugurated, was SlS6,62l'
ll9, and the average value of land in the
State was$3 81 peracre. In 1861 the land OF
the State was valued at 1851, Az, ,746, and
the average value per acre was eight dol
lars and tueaty cents, thus making a cleal
gain in taxable property in land alone Of
| $l74,S56,627 in period of nine years
whereas the taxable property for the nine
years preceding the introduction of this
protective system had only increased $67,.
753,447.
Increase in nine years before the pro-
tective system was Rdopted..........S 67,763, ,44l
In nine years after its adoption, IVA s56,62
II the State had given her $27 600, ,00C
to the railroads, she would have been well
repaid in the increased value Of taxable
property but as il is, she has doubled hel
taxable property and has ample security
for her aid 10 these roads. While railroad:
have done so much towards developing the
wealth of States, statistics prove that man.
ufactoriss have always increased the value
of property faster than railroads. We
have the railroads, now let us, by estab.
fishing manufactures, give them business
and thus enable them TO pay their interes
as il falls due
In order 10 make capital effective i
must be concentrated. A million of dol
lars distributed out among the million o
inhabitants Of this State for manufacturing
purposes, would never start a spindle o.
take from the earth a single ton of ore
The same amount concentrated in th'
hands Of skillful and practical manufac
turers, aided by operatives familiar will
this branch of labor, would soon have thes
beautiful streams which checker on
State, ioin in the hymn Of industry anC
chant the birth of new era of prosperity
in our State. We need concentration q
capital, skill and industry, and to etiec
this, we must charter associations AM
give them such premiums and inducement
Ms will secure them in bringing thei
capital 20 this State. These are extra
ordinary times; with ourindustry paralyze'
and our agriculture greatly impaired b
the change in our labor system, herculeaT
efforts must be put forth to attract skill
and capital to this State. This Legislator
has it in its power 90 establish grea
manufacturing system which will stand a
a monument Of their wisdom to succeedin
, generations. With unsurpassed waite
power, e1haustless coal fields and immens
beds of ore, We could soon rival Mass
ohusetis in wealth and manufacturin
enterprise.