New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-10-23
PROTECTION VS.. FREE TRADE.
INFLUENCE OF PROTECTION UPON PRICES.

INFLUENCE OF PROTECTION UPON PRICES.
| TO the Editor Of The Tribune.
SIR: The lists of duties and prices upon White
Lead and Bar long series Of years. which have
already been published in THE TRIBUNE, show without
doubt prevarcaton that protective duty has In
instance permanently raised the price 10 the
but the other hand has invariably reduced It, These
two articles selected because they make better
show in the discussions Of this momentOus question than
any Others but because they articles OF prime neces
sity, and in general and extensive Similar results
will found the examination Of prices and duties OF
every protected manufacture and 1t deeply 70 DO re-
GREETED that tables Of prices Of all staples ana FABRICS
should not be published in concise form, and placed In
hands Of all who endesvong to form correct de-
auctions upon matter affecting every interest IN society
These statements paradoxca they appear are new
erheess true and truths stubborn thngs Ihey are
as incOnrOverbe the fact that Natl0na ana lnd
vdual industry and economy the parents OF prosper
y independence and comfort while ideness and exraV'
agance produce poverty misery and crime II there have
been occasional fluctuations during the gradual decline Of
prices under Protection, they traced to entirely
different causes the principal one being an Increase Of
currency thrown into the channels OF commerce. which
invariably engenders spirit OF wild speculation and eK
ravagance Such is condition at this day. caused by
the immense amount Of rredeemable paper money put
out and kept in circulation by the Government Such
was the effect 1857 of the Issuing by what called
Stock Security Banks" Of large amount Of irredeema
BILE bills throughout the West and South And 1t makes
but little difference IN the effect upon prices whether the
superabundance Of the circulating currency be OF paper
or Of the precious metals The large amount Of gold
thrown into the market the opening OF the California
and Australian mines, caused general rise In prices
did the bills issued by the banks known Gen. Jacksons
pet banks in 1895 and by the Continental money These
however terminated In distressing and fnan
cal disasters; and men OF ordinary sagacity and
financial experience fear similar result in present
nhary fhafn pffala and
ges in any enterprise Mird'r tdcit ct dubo pro tat
mine pendent or in plain English They stand in silent
astonishment and wait for the fall Of the yet doubtful
thunderbolt" The suspension Of the Bank OF England
and the operation the assgnat system of France and
indeed all such contrvances throughout Europe to
iredeemable paper currency have terminated
alike In distressing disaster These facts are familiar to
Of the older merchants and acceptable TO all and
reference to history and TO prices current will corrobo
rate them.
It is often charged that the English will sell iron
cheaper than ironmasters and all sorts Of rea
sons are given to account for this The most common
and perhaps the effective is the difference in the
rates wages This however cannot be the real
for the greater accessibility Of and COAL and their
contguy to each other much than counteractsth
difference The lower price will be found TO lie In the
quality Of the goods. The following extract from letter
written by Charles Smith, esq., of Philadelphia, TO the
Hon. VIM. Meredith Secretary Of the Treasury Of the
United States in ls49, illustrates this position
sowing the superior quality Of ores, dispense
entirely with the operation termed filming And, for the
reason consume less coal to the tun OF iron but
that quality costs much the greater quantity In
Wales On the other hand, we can obtain no advanced
prices for the superiority OF iron. because buyers
and particularly railroad directors, have scarcely
begun to learn the difference in wear between rail made
from good iron, and made from bad iron during
visit TO OF the large Welsh works saw them making
only one half the usual and proper quality of refined
asked tho of It, The foreman, not knowing
mo. said the rails were going TO America"
Datlar fhapa wear
way Company, in England, Laid down lot Of common
rails and in less than year 1t had to replace them.
Instances similar sort, having occurred repeatedly,
gave rise to great complaints TO which SafOrdshire
ironmaster replied in The London Htirg Journal by
saying in substance the rails quite good enough
for the money and that 1t not pretended that good
or durable rail could be furnished for anything like the
present prices To show the great command the IRON
masters have the market when there is any
demand, or prospect Of demand for iron, need only
refer 70 the market price OF merchant bars at Liver
pool at various times during the present year Being
there in March, seeing the extremely depressed state
of the trade curious To ascertain the cause OF
rise Of Cd, equal TO 20 per cent in very short
mand for iron, cause, That could see, toJusy
the The alleged that In consequence OF
the glowing accounts of the quantity OF coin received
from California, Il was anticipated that ereylng rod
De much enhanced ia rdiHe and the Spring sales just
then commencing, were to regular dealers aud others
made 20 suffer by anticipation After these sales we're
over iron began 10 fall. and in little more than two
hSnS So wfS Is los March 2s e i2s Cd June q a5
Cd a rise OF FL IS 3D. In less than three months
and fall OF in the two following months Fluctu
ations OF this injurious 10 manufacturer
(who confines himself 10 his legitimate business OF making
and selling aud avoids speculation even when they take
place in his market where he can TO some extent
oresee and provide for them but when they take place
in foreign market, and from causes of which he mast
entirely ignorant, and are made TO react upon NM
with increased force by ad YaOrem tariff no fore.
sight whatever provide against them. One more
short extract will still further euedate the manner OF
furnishing cheap iron In England. The same writer sad
statement have the average cost of coke pig
iron and IN the other statement the average cost OF an
thrace In Wales. The coke furnaces all use portion
OF cnder from the rolling mills instead Of ore but THIS ln
lures the quality Of the iron so much that they are obliged
to purchase the very rich from White Haven In Cum
berland q of 81 - TO mix with IT, BY this means,
nearly Onehaf cinder can be mixed, producing an iron
OF the very worst quality but very cheap which appears
To be the point aimed at"
The main object and aim OF the British manufacturer
the American buyer goods OF low price.
This do by mixing cnder with their iron, shoddy
their WOOL paste with their cotton, and any cheap
mxable article with every thing else that In reality
these Ow-priced goods, when utility and durability are
considered the dearest 20 the consumers hence You
will discover that hrstrate mechanics buy American
cutlery altogether. The factn touching the effect of
protective duty upon manufactures would put an end
10 the attempts OF the British manufacturers and mer
chants undermine and overthrow our own, and con
them that the same man or same machinery can dc
as good work in America in England and also, that "
be thought beneficial TO keep the rate OF wages OF OPP
support and educate their families, our superior esOu
ces elements and advantages, will counteract All the pen
Gifts which they derive from getting their work done
az starvation prices Very respectfully, yours, &C.
Chicago. Sept. 80, 1862 ALfhED DoiCh'