New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-09-25

under the lower rates prescribed in 1876 and this
tells IN favor OF The Post and its prophesies; but it
cannot save them. Our foreign fabrics were not
mainly Struggled in across our frontier under the
Tariff OF 1928. Our Northern border was not dotted
with sham factories established to cloak the opera
tons OF smugglers by pretending to fabricate the
goods those model Free Traders juggled across the
boundary; our manufacturers were not desperate
and clamOrous for more Protection in 1880; and
country was nOtcursed with wretched and starving
popuace by reason of the Tariff of 1928. In short,
there is not single point which the results of
that measure not in glaring contrast with The
Posts confident and dolorous predictions.
In 1882, the Tariff was slightly modified adversely
TO Protection, when Mr.. Clay addressing the Senate,
truthfully and fOrcby said:
Eight years ago, it was my painful duty to pre-
sent to the other House of Congress an uneXagger-
ated picture of the general distress pervading the
whole land. We must all yet remember some of its
tnghttul features. We all know that the people
then oppressed and borne down by an enormous
load of debt; that the value of property at the
lowest point of depression; that TuInOus sales and
sacrifices were everywhere made of real estate that
stOp-laws and relief laws. and paper money,
adopted to save the people from impending destrue-
ton; that a dehcit in the public revenue existed,
which compelled Government to seize upon, and
divert from its legitimate object the appropriations
10 the SINKING 1und TO redeem the national DEBT;
and that our commerce and navigation were threat
ened with complete paralysis In short, SIR, n Uere
TO select any term Of gears since tie adoption OF the
present Constitution UhiCh exhibited Of the most
widespread disndy and des0latiOn IL Opld be erdcy
that term of years WhCh immediately preceded the
establishment Of the tariff 0f1S24.
Il have now to perform the more pleasing task OF
exhibiting an imperfect sketch of the existing state
of the unparalleled prosperity OF the country ON
general survey, we behold cultivation extended the
arts tourshlng the face OF the country improved,
our people fully and proitably employed, and the
public cOuntenance exhibiting tranquility content
ment and happiness. And, if we descend into par
we agreeable contamination "A
people out of debt; land rising slowly Ill value, but
III secure and salutary degree; ready though not
eXtravagant market for all the surplus productions
of our industry; innumerable fOcks and herds
browsing and gamboling on ten thousand hills and
plains covered with rich and verdant grasses; our
cities expanded, and whole villages springing up as
il were by enchantment our tunpage, foreign and
coastwise, swelling and fully occupied the rivers OF
interior animated by the perpetual thunder and
lightning of countless steamboats,; the currency
sound and abundant the public debt of two wars
nearly redeemed and to crown all, the public
treasury OVERCOMING embarrassing Congress not 10
find subjects OF taxation, but to select the OBJECTS
which shall be liberated from the impost. THE term
Of seren years TO be selected Of the greatest prosperity
URiCh M6 people hare enjoyed since the establishment OF
their present Constitution II rOutd be eJdcftV that period
Of years rhich Immediately toltowed the passage Of
the tariff Of 1924
This transformation of the condition of the cOun-
try from gloom and distress TO brightness and pros
perity, has been mainly the cOrk OF Ame1odn legislation
fostering american industry instead Of dtOCing 10 BE-
controlled by foreign legislation, ca7Shng lorgn nduS
g. The foes of the American system, IN 1874, with
great bodness and confidence, predicted, first the
ruin of the public revenue, and the creation OF a
necessity to resort to direct taxation the gentleman
from South Carolina lGen. Haynel. believe, Thought
that the tariff of 1924 would operate reduction OF
the revenue to the large amount OF eight millions oil
dollars secondly the destruction OF our naYgatIon
thirdly, the desOation of commercial cities; and
fourthly the augmentation OF the price OF OBJECTS
of consumption and further decline IN that OF the
articles of our exports. Every prediction when
they made has failed utterly failed. Instead OF the
ruin Of the public rerenue gih lCh they then sought 10
nd
nOC threatened Uih its Subrers0n by the rdSt dmount0
the public produced BY that system As to the
desolaOn of cities, let us take as an example.
the condition of the largest and most c0mmercla OF
all of them, the great northern capital have IN
my hands the assessed value OF real estate IN tIe
City of New York, from 1917 10 lo1l, ms Naue is
canvassed, contested scrutlnzed, and adJudged DIV
the proper authorities II Is, therefore, en-
titled 10 full credenee During the first term con
mencing with 1917 and ending IN the year OF the
passage of the tariff OF 1924 the amount OF the value
of real estate was the first year Sj9O i1 and after
various fluctuations in the intermediate period, II
settled down at So 0l97S0, exhibiting decrease IN
seven years Of $j,I'91O0 During the irst year OF
1875, after the passage OF the taIlh II rose, anu,
gradually ascending throughout the whole OF the
latter period of seven years, II finally. IN 1851
reached the astonishing hight of $50 7lG4s5 Now,
if il be said that this rapid growth OF the CITY OF
New-York was the effect of foreign commerce, then
it was not correctly predicted III 1874 that the taIn
would destroy foreign commerce and desOlate
commercial cities. Ii, on the contrary 1t be the
effect of internal trade then internal trade cannot be
Justly chargeable with the evil consequences mn
Duted to he truth is IL is tue JOINT VI
principles the domestic industry nOln1shmg htlordgn
trade and the foreign IN turn nOur1Shing me
domestic industry. Nowhere more than IN New.l oIk
is the combination of both principles 50 completely
| developed"
| The Post having been recently transformed, from
lifelong, embittered adversary, into an admiring
| eulogst of Mr.. Clay, and having claimed him as
convert, about 1892 to its Economic views, sub
init the above testimony TO the magical benefcence
of the Tariffs of 1894 and 1925 in the assurance that
neither It's pertinence it's cogency can well be
| gainsayed.