New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-02-15
PROTECTION.
HENRY C. CAREY ON MR.. wELLs'S REPORT.


..- LETTER THIRD.
DEAR SIR: The tariff of 1928 which was, as
the country had been assured almost destroy the reve
nue. had on the contrary proved very productive as
to make it necessary wholly to emanepate from duty
most II not even all, OF the commodities not competing
with our domestic products and had thus furnished con-
elusive evidence that the road toward financial indie
pendence and real freedom Of trade to be found p
the pursuit Of policy leading industrial independence
Further proof Of this being furnished, the Gus
toms revenue under what had been claimed the true
revenue SYSTEM having declined to half the amount Mt
which had stood In 1888, and Congress finding itse
compelled in 1884, TO retrace Its steps by remanding tohc
list Of duty paying articles large proportion OF those com
modities which had been freed by the act Of 1882 S
however necessary work remained undone each snc-
cessye day bringing with evidence OF need for
total abandonment of policy nearly the whole period OF
whose existence had been passed amid financial convu-
sons Of the knd-convulsons whose effect had
been that of almost annhilang confidence, and thereby
bringing about state Of things destructive alike OF pub
lie and private revenues. ~
With August, 1872 therefore, we find the nation COM
PEELED to readoption Of the protective and real revenue
policy followed at by such restoration OF confidence
"a enabled the Treasury to find all its wants promptly
supplied at home. Thenceforth there was found no
necessity for humby knocking at the doors OF foreign
bankers praying for relief For the general restoration
OF confidence however. much time was needed ruin hav-
ing been so widely spread to make 1t Indispensable
that q bankrupt law should DO enacted Thy means OF
which hosts OF ruined merchants miners manufacturers
ship owners land might again be enabled TO
GET TO work and seek the by aid Of which to repair
their fallen fortunes Mills and mnos, too, needed to be
repaired preparatory to setting laborers once again az
work and 1t was such abors that the first year OF inc
new policy was passed. Still another year was
required for enabling the returning pros
perty to make its way the coal region and 1t was not
,I.aN tha yhO
their millions Its development became at length en-
acd TO see for hope that they might at an carry
period be released from the burden OF debt imposed
upon them In the revenue tariff period IhehceIorth
however, all moved rapidly, new mines being opened
numerous furnaces being erected, sand aroing- ior
rails now for the first time making Its appearance Oh
the American soil. Throughout the long period OF
dozen years British ironmasters had. by means OF our
own disastrous legislation been secured in monopoly
OF the control OF supplies OF rails but the time had now
como for obtaining that real freedom OF trade whcD
always results from the exercise OF power 10 choose
between buying at home or seeking supplies abroad.
The furnaces that IN ls40 when pig had fallen to little
mora than hnf the price OF 1887 had yielded but $4,000
tuns were now being driven TO their utmost capacity
estimated at 100000 tuns but there is good reason TOT
believing not less than. f1'VO'
To this we have here to add $500
First. the produce OF new anthracite 1utnhceS
blown IN from lSil to 1874 inclusive, Win ca "a noo
Second. that Of 81 new charcoal furnaces capa .o,
1hrd' eniai seno"'''' O'u 'e.....'.. 5000
Total capacy at the close Of lsi......... $4,000
The actual produce Of SI5 evenly you at i6o tuhS
but there exists no certain evidence in reference thereto
and feel it must exceeded half amlon
So great was then the demand for iron Of all descriptions
that notwithstanding the large increase OF domestic pro-
duct the import Of 1884 and 1si5 rose TO 22OO tuns eh
ceedng by than IS per cont that OF the revenue
tariff years 1912 and 1913.
To the quantity above obtained have next to add rs
follows:
Eighteen anthracite furnaces blown In in 1915 49,
and lsS wisS capable Of yielding
Enargements estimntea at.-..-.-...-.'.----.-. $3.50
Giving total NlVVV
which added to the 100 already obtained makes
grand total OF $4,000 or within 1000 OF the estimate then
furnished by the Secretary OF the Treasury thus confirm
ing the accuracy OF the views that have heretofore been
presented by myself.
Nomnally the tariff OF 1916 became operative at the
close yoer, the general prosperity
greatly increased 1t by demand for food created
by the Irish famnc-a demand that caused In that year
an Import from Europe OF gold TO the immense extent OF
s2l OO0-that It's operation almost entirely unfe
In face Of large reduction Of duty the price OF pig Iron
rose more than ten per cent and every existing furnace
WAS tasked utmost 10 meet the wonderful demand
that then existed Increase OF furnaces therefore went
cite region in lsi7 and isis with capacity OF tuns 1900
Adding 10 this. for IS charcoal furnaces IN
this State. and only many estimated Tor
all the other States, We obtain a further .
capacity o'oV'
10000
by adding which TO the $4,000 OF previous years we OBJ
tain grand total OF 900 tuns admitting therein but
70 for enargemens each and every year Of works
previously in operation.
BY no correction OF these figures that can even be at
tempted Will 1t DO possible 10 reduce the quantity TO
100000 Admitting. however, that such reduction be
made there stl remains increase In five years gilmore
than 200 per cent population meantime having grown
less than 20 per cent
Whence, however you may ask have these facts thus
given been obtained In answer, have TO say that
they have been drawn from source 10 which you your
self have had the roadcs The Statistics Of me
American Iron AssoediiOn the difference between the
results obtained by you side and by me on the
other consisting only this, that whereas have now
as always heretofore given all the facts you have gwen
only those which seemed best fitted for enabling you To
prove that no matter what had been tho character OF
the legislation whether the condition OF the country was
one OF war or peace the OF production had been
at the average OF about eight per cent per annum
or more than double the ratio Of the increase OF popua
ton" How far there exists any warrant Tor TINS extra
ordinary assertion IN reference to tho years which fol
lowed the brilliant period above described. II Is pro-
posed now to show commencing with those OF i9i9 and
1850.
with the Summer OF lsis commenced paralysis result
ing from delugc of markets by British iron the fiscal
year 1913 40 exhibiting import exceeding by nearly
quarter Of million tuns that Of 1916. and largely exceed
ing 1000 tuns Then, for the first time did the
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