New-York tribune., 1869-01-05
mssonor Is Obliged to admit is. to very great extent

az no other nation upon which the sun shines unable 10
ducts OF any 0or country; the marked exception being
always its product or supplies Of the precious metals
inquiry is now 10 be made in the to 1oh these
results must be attributed and as 70 The essures vbcn
seem likely TO prove remedial avoiding in so dong 10
the greatest SS.eR possible any repetition OF the facts
ann arguieits Whch nave been presented by the Com
missioner IN s former reports or by Others who have
discussed this suhst and aiming present rather the
Results OF continued investigation and Of enlarged
experience
AGENCIES ADVERSE TO NATIONAL DEVELOPMENT.
The immediate cause OF the anomalous condition Of
affairs In question must unQuestionaby be referred to
the greatly Increased cost OF nearly all forms Of labor and
that prevailed in the decade Immediately preceding the
war whlle these in turn must be regarded the resu
tant mainly OF three agencies growing ont OF the war;
VIZ; f'Tedeen106te paper currency; unequal and hedrH
taxation, and limited supply OF skilled labor the last
msneslng itself at the present time III speciaesrather
ITO show the effect of paper currency rredeemahle
at par IN specie to diminish exports Mr. Wells cites the
case OF manufacturer Of ordnary post cane seat
ohairs" In January, 1862, labor and commodities not
& az g. 6e eo same a. tate WITH god the foreign pqT
dozen chairs, on July J. 1864, bought 143 dozen THIS
vastly increased our exports Gold has declined and
in January 1866 the $1,000 gold would buy only 1853
dozen chairs in February, 1906 0t dozen in January
than 1891 This being now the dearest market for the
foreign purchaser he buys elsewhere. Mr.. Wells then
rency Of Great Britain France and the United States
heretofore referred to in THE TRIBUNE. ...o.,-,.,
COMPARISON OF PRICES OF LABOR AND COMMODITIES
1s60-'6l AND 1e67-'6s
The present abnormal condition and the recent fuctu
atiOns In the prices OF labor and commodities also prop
erly comes up for consideration in connection with the
subject OF an rredeemable paper curreney-the chle
agency to which the disturbances In question must DC
ferred. o.
The Investigations previously instituted by the Com
missioner have established the fact that up 70 the com
mencement of the year 1867 the general effect OF the
agencies growing out Of the had been to occasion an
ept ~ sbon 90 per cent While the corresponding aver
ago advance wages not in excess of co per cent
He has now ask attention TO tho conclusions when
another years experience and investigation have brought
to us ip relation TO this subject The result OF long ana
leading articles Of domestic by MSa
in the Act sSWSs ae have Sorded data for
accurately estimating the Increase IN he HSes OF sueh
articles In 1867 compared with ls6O-6 They estapsh
the following conclusions:
That the average increase In the price OF groceries and
provisions In 1857 compared with 1S6O6l 8s per
cent or, calculated on the basis Of the quantities CON
suned on an average by number OF workmen, te In
clothing So per cent Of fuel s. per cent Of houe-ron
65 per cent This latter average Is however largely AZ
manufacturing companies corporations very generally
the tepements occupied by their operatives rents
Guiding New England from the calculation. the average
advance in rents for 1851 compared with s606l must
be estimated at much higher figure Thus in tho small
manufacturing towns OF Pennsylvania the average IN
In the rents Of houses occupied by operatives is
sew III per n cent In the cities o New York Phadepa
Newark and Pittsburgh the increase has been from 80 10
The average OF these results proporoned to the asce
tanned varying ratio OF expenditure under the several
heads shows that for the year S6 and Tor the first haf
OF the year s the average increase Of all the elements
which constitute the fo0d eloh,ng aud selier Of aini
ly has been about 7S per cent as compared Win the
standard prices of ls60-'6l.
Tho result in general, Of this large increase In the
prices OF commodities OF domestic CONSUMPTION TO the Ia
boung becomes evident by comparing such Increase
with the Increase III the rates OF wages during the period
under rates. for the year 1901 rs com
pared with lSG061 follows For unsulled me-
csnical labor 90 per cent fcr skilled mechanical labor
In the case Of unmarried men the comparison =
favorable than respects men with families The aver
In Of fIl' col
them having been only about lS per cent? as or example,
spective OF domestic dry goods 70 per cent ordinary
skilled worklen who are at the same time unmarried,
and who receipt Of wages from - 10 20 per cent IN
advance Of the rates paid in ls60 nd their condoi a
regards net income approximately the saue as Deioio
The tables and returns on which these conclusions
lased are given nj length and Will be Of great
thoe who desire to 60 behind MIR Wells and
examine the data ON which they Test.l
GENERAL INFERENoKs.
Finally from the results OF invest cation which have
thus been presented may draw the following coAelu
The wealth Of 5hs sUgnsy o q Te does
not follow that there the same increase u general pros
perity. The aborer. especially ho WHO has family
%aSes have not n proportion 70 the
in the cost of his living. There s, therefore, Inc
must in small degree, refer to artificial causes
This inequality exists even among the woikng classes
or her support alone IS IN the receipt OF rate OF wages
from which saylng may be made e9nai or greater tnS
where the price OF board s TO certain extent regulated
fherefore cain. while those who are olged 10 sur.
port their families In hired tcnemcnts, Hence
deposits in savings banks increase. while marriage is
discouraged; and the forced emplyment OF young cl.
n made almost necessity IN order that the family
Now whence comes this inequality and this unnatural
distribution OF the results OF labori The student Of pot
result Of tie enfcsced use 6f iucuaing measure OF
value viz: iuconverDle paper money. Itwoud be pre-
diced pr1o1 that the use OF such money involves
most oppressive tax. which falls heaviest upon the laborer
aud lighes npon the owner Of capital Antagonism Is
produced where none ought TO exist the capitalist s
forced to Charge additional profit orthe increased risk
involved IN the use Of false measure Of value and the
Of tho commodity forced TO pay for tnch Isk
There dishonesty 10 be inferred ana no injustice
which " the henss no & sas can s ip 80 M
capital entirely from industrial enterprise
II has been ye said that hore can be no true theorec
conclusion which viii not be proved by the facts Wien
the theory can bs applied wehayg given the theory
Of the effects OF fnconyeriDlc paper money and mud
that the facts prove H. The rc become richer and the
In addition however 70 an inconvertibIe paper cur
rency, there are other agencies which powerfully
sderaton thcse bring to new department Of our
nyesgailon, VIZ The Influence OF taxation. direct and
scquently upon the ability Of the country 10 exchange
exists IN the United States may be classified under
]. Taxation under the Internal Revenue
| q Taxation under the tariff
3. State and local taxation.
We propose 10 examine, the order enumerated the
present influence OF each OF these forms of taxation upon
the cost Of production and upon national development
Commissioner tiat ihc internal Revenue
has collected from 1868 TO 1853 S OGOOO
that the REIMBURSEMENT Of taxes TO the amount Of
tlIOO0000 from manufacturers by eDlarging production
has 9een the nltlmahle payment O1 the debt OE the
Tariff cue stiOn Mr.. Wells sHys IL j. important To re-
cognize the fact that under the existing financial cond
ton Of the country the o!dlme Issues between the ad
vOcates OF free trade the hand, and projection
the other have ceased TO be OF real practical i'm
portance-lnasmuch as In lhe OF laln VIII
view 70 revenue the requirements OF the Government
average Of duties as to aord all flat can be reasonably
asked for the grounds OF projections and with given
requirement. moreover for revenue, III excess OF what
can be derived from taxation under the tariff OF
knowedged lnxuIies there would seem 10 be no valid