The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1870-04-07


yet finished, Of which the South and
West have SO, distributed as asfollows:
Pennsyly
New
Virginia. ..o".......4
lnulihA
Nllcnlgdn
lenDehSee
NeW fork..,"".-,",.",",,.
Maryland
OHIO
ILLINOIS
MlscOnsh.
lAenlueky
AlaDa"
Total ..s.d I..r --r Go
And it is estimated that the erection
Of no less than SO new furnaces, prinei-
pally in the West, are in contemplation,
and are only waiting the fate of the
duty on pig. iron in Congress. Nor are
rolling and nail mills behind in their
increased contributions to the annual
value Of iron products, the production
OF rails alone having increased from
81, 900 tons in 1853 to $50 900 in 1869,
while the increased annual production
ofbar-iron and steel affords gratifying
evidence that the way to cheaper iron
in the American market is to give such
protection as will insure competition.
A QUESTION OF MONEY. ......
While it is in my Judgment clearly
our duty to protect and stimulate the
industries Of the country, it lis a still
higher duty to make provision to free
the nation as rapidly as may be from a
liability, the interest alone of which
ferns heavy item in our annual ex-
penditures. Hence, this is rather
question of money, or the necessity for
money, than Of tariff. / believe it is
the desire of large majority of the
people Of this country that our indebt-
edness should be mainly wiped out
within the next twenty years, and how.
ever successful we may and expect to
be in reducing the rate of interest, still,
payment involves the necessity for rev.
enue, and any plea for a low tariff pri.
or to the creation of our war debt,
however good it may then have been,
will not apply now. n.ara f..
The doctrine Of our fathers, as set
forth in the following preamble to
bill passed by the First Congress Of tho
United States, on the 4lh day ofJuly,
l779, applies with equal force now as
then, and the fact that it was the second
act OF Congress proves the necessity tor
it,: .g... ...... ...s ...... II .-
"Whereas II Is necessary for the support Of the
uoYeinmont, for the discharge of tho debts of the
United StatOs and the encouragement and pro-
tection OF American manufactures that duties bO
laid ON goods, wares, and merchandise,
"BE 1T ENACTED &C. 'a sfW
The policy, thus early inaugurated
in that bill and signed by the immortal
Washington, has been adhered to by
most OF the leading statesmen in this
country since that day, and, as a means
Of developing the resources of the coun-
try and the reduction of the public debt,
will hardly be surrendered now n Il
Protection to American manufac-
lures, as well as to agricultural produc-
tions, was one Of the wise and salutary
measures which enabled us to carry on
and successfully terminate the war for
the Union, and IL sternly and ihflexibly
adhered to will be one OF the principal
sources from which TO draw the means
necessary to continue the rapid reduc-
ton OF our national debt now going on.
Adopt the scale Of duties asked for by
the lree-trade school Of economists, and
that reduction will cease, the country
become disheartened, aud the cry Of re-
pudiation, now faint and feeble, will be
heard in vigorous accents declaring the
impossibility of our ever being able to
pay the debt.
The sum collected from duties on i'm.
ports for the fiscal year ending June
80, 1869, was over $i8O,OO0,O00,
while that arising from internal reve-
nue. exceeded Sl58, 900 900, making
together over S333, 600, 900, which, un.
der existing laws, will be considerably
increased during the present year. We
might, IN view Of the certain future IN
crease of this snm, take from these two
sources $4,000, 900, one half Of which
should be deducted from the duties on
tea, coffee, sugar, aud spices, and the
other from such Of the internal duties
as are most bnrdensome aud distastefal
to the people,
Aud with the certain further reduc-
lion in the current expenses Of the Gov
ernment, mauguratcd by the present
Administration, We would still be able
10 reduce tho public debt 500, 900, 900
per annum, No one doubts that the
census returns Of 1870 will show the
wealth Of the United States to be full
ESQ, 600, 900, 900, which, lr the increase
during past decades be taken al correct
data upon which to base an estimate,
must largely moro than double during
the next ten years, thus lightening tie
burdens Of taxation more than one half
aud eyincing the practicability Of an
lnnual reduction Of rates equal 10 our
increase in wealth. J 80 u tatl5I