, 1869-02-24
stock holders can make a handsome rise In

HLQCk uOlut1t Cau luhAc UhAN5pAAS ~ ~
tho vslte Of their property. This Dill
proposes to increase the duty on the in
| ported ore to IS per cent, and thereby
| nrohiblt ita importation. Without that
ore the smelling mines cannot operate,
and they cannot afford to pay that price
! for the ore Consequently, the new act
amounts to total suspension of those
mines, and the establishment of g mo-
nopoly in the Lake Superior copper
stock companies.
This act Is not for revenue, because by
prohibiting Imports of copper it prohib-
its all revenue from that source.
It prohibits the. interchange OF other
American products for these carbonate
ores, and to that extent destroys CON-
meIce in American vessels.
Tho act, therefore, is one to blot out
the capital and labor employed in the
mines OF seven or eight States, to give
monopoly TO the labor and capital en-
ployed by the Lake Superior mining
companies. It is not only prohibition
Of the further working of all the smelt-
ing copper mines OF the United States,
and 8 suspension Of their labor and pro-
duct, but it is the levying Of direct tax
upon the labor ind industry Of the whole
people, to give bounty to the compare
lively few people who are engaged
in the Lake Superior mines. 1t
is q bill to cripple, by excessive
tsxation, every other branch OF
industry in which copper is used. AS
Senator Morrill, had the csndor to ad-
nit, It was the final blow to the almost
expiring industry Of American shlpbuild-
ing. II is tax laid upon every dye pot
in the United States, not, be 1t remem-
bered, for revenue, for it Is admitted no
copper can bA imported under the act,
but to give value to the watcred stock Of
the copper stock companies.
Andrew johnson puts on record pa
per which will outltve the protective
theory. lie pointcdly e1ploaes the allie
cation Of the distress In the Superior
mining districts. He regards such an
allegation as q libel upon the reputation
Of Michigan as an agricultural Statc.
A palmer case Of legislation for tbs
benefit Of stock companies was nevcl
exposed, and yet, in the face Of this ex-
posurc, Senators and Representatives
whose constituents have to pay thi
| bounty to the stock brokers, will stant
, up in their places and protest that they
vote to protect and encourage American
Industry! How do they protect Ameri'
can Industry
, l, They vote to close up all the mine
. in the United States whose copper ia
I TO bo smclted, thereby prohibiting
| the further employment OF a
+ the capital and labor which now produc
ouc-third Of The entire American coppe
Q product.
, 2. They vote to tax out Of existence a
the brass and other esla ablishments in II,
!. United States engaged IN the productio
: Of metals AID manufactures in which COZ
, per cnte1s largely.
l 3. 1t closes the remaining America
l. ship-ya1ds not already closed by the c.
cessive taxation Of the tariff.
n 4. II destroys even the limited revon1
- derived from the importation OF iore,e
v ores needed for smelling purposes by Il
= American minea.
q s. 1t imposes direct tax, amountir
d TO cztortIon, upon all the dycing csta
n lishmcnts OF the country.
Y These results, il must be remcmbcrc
Q are not TO prevent foreign comrclltio
y because there is no foreign copper in
q ported, but is to give bounty to Il
Is copptr-stock companies owned by cal
At laliets, who, rot satisfied with fi,y p
hc cent annual livilends upon the capil
Al actually invested, demand cxtrRvagn
~ dividends upoa the wstered and !
y. wate1ed stock which they now ho
70, This bill Andrew johnson has Veto
ut and, notwithstanding the lIor
,r has again passed It over his he
Il the people will give him III
~ thanks, and will mark well the taithI
h representative who betrays them to II
T. at the bidding Of the copper ste
I hrcEnra