New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-02-13

!. ssadaaSaaE aasEs


@ y the act OF 1892 tea Coffee and many other articles
railroad iron included made free Of duty this last
serious blow TO the then rapidly growing from mauuac
turo IA consequence of this that England had
un after the passage Of the tariff act OF 1872 an entire
monopoly OF Its supply Ivy aid of which she had then
already imposed upon people taxation far greater
than would hal been applied given furnaces and
rolling mills capable Of furnishing thrice in quant
~ and value than Great Britain then produced ~ iron In
ali its varied forms One year later, In 1885, camo the
Compromise tariff dictated by South Carolina. looking
eventually TO the establishment OF purely revenue sys
TEN, but for the moment making changes very gradual
that IFS deleterious influence remained almost unfet
I'll after 1898. The production OF iron continued there
FORE 10 increase in the three years which followed 1892
but il has been quito impossible TO Obtain any reliable
statements In regard ereto and for that reason 1t H.
that in all tables hitherto furnished the whole OF that
growth has been credited 10 tho arf policy.
when II had properly belonged to the protective
For 1870 the product OF given at $4,000 tuns.
showing gain OF COO In eight years from 1884, much
OF which, however certainly resulted from the protection
| afforded from 1882 TO 1888.
with there came, however. already shown. the
fifth reduction OF duty under the Carolina notification
tariff Of 1885, bringing wlthlit too. close proximity
the horizontal per cent tariff that take effect
IN 1923 With each successive day therefore, tho 5oci
etary movement became completely paralyzed
III there produced state OF things wholly without
parallel in the couutrys history and oven exceeding that
with mep, women and children, reduced TO begglry be-
cause Of finding 10 employment. owners OF mills and
mines meantime reduced 10 bankruptcy because OF ud
ing little demand Tor any Of their products Banks
stopped paymeH. and seemed unlikely ever again 70
reach resumption Staics made default I'm payment OF
their interest the National Treasury meanwhile begging
home and abroad aud begging, too In vain, for loans
at almost any ratio OF interest.
How ali this affected the iron manufacture s clearly
shown by the following facts: smelting By aid OF
thrace had first introduced here 1857, and II
was Improvement OF vast importance 1t should have
rapidly extended. Nevertheless, depressed became
after the condition Of affairs that at the close OF
lsn but six such furnaces, capable OF yielding 2Ooo
tuns had been put In blast Tie cause OF this may DO
found IN the fact that Carolnan Legislation" had re-
duced the price l5 to little than half Of that at
which II had stood In 1884, and had reduced the powers
OF our people cause dlmDution Of consumption
greater than that OF price.
AZ consequence Of this rinous condition OF affairs
many furnaces closed TO mako 10 highly doubtful
II the production were half OF what It had been two
years before That 1t under 100000 uns there is the
best for believing yet have always placed IL nj
22OOOO preierrng TO against rather than for myself
All the fact now presented have already been before
YOU but you have selected those alone which suited at
the time asserting that all that had been published
IN reference TO years the first OF which under
consideration had boen "pere Insertions" entitled
copied historical truthsP
g. Whatsoever tho policy OF country, whether pro-
tectve antprotectve peaceful warke, the longer
Il continued the more thoroughly ts powers for good
evil become developed 10 he latest years In which
such policy had been maintained It that you, there
FORE required TO look when desiring 10 enable your
self properly 10 exhibit It's exceences Its deoCs
Havo you done this Have you given ne latest Of tho
years of protection, land exhibited tho growth OF iron
production 100000 uns n 1882 Have you given ne
latest pedrs the tariff system and thus brought
TO light fact that from tho close Of protection under
the tariff OF 1928 the close OF free trade under the Com
promise tariff notpiA standing Increase Of population
exceeding thirty per een here had been scarcely any IN
vhatsoepef None OF those things as regret TO
cay have you done Directly the reverse, you have sup
pressed the last years OF BOTH to the end that you might
be enabled 10 assure the nation that the great annual
OF production took place prior 20 the year 1902
production In 1890 having been 10000 tuns IN 1870,
$4,000 increase In ten years. ITO per cent"
II has been said that figures do not lie" That they
may be made 20 speak the reverse OF truth would seem
/ 10 be here most clearly shown. m ..-. DO 40 ..
Desiring now to present clearly 10 your eve all that has
above been said Of the period now under considerations
submit another diagram presenting .......
First light line showing The etire facts and giving In
all cses tic figures you yourself have used and
Second heavy line exhibiting tie rcis selected By you
for cseita,io and IposinR the by means OF
which you have carefully thrown out OF Wow tho rse
under projections which occurred in tho years subsequent
tosO and tho great fall under the revenue tara system
which occurred In the years that followed 1sio
~ EIsE ~ n z z yiS 81 b.