New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-01-21
thus are doing exactly what Gen. Jackson 90 strongly
urged the national Iepielature,"


in breadstus and provisions. it is usually measured
by quantity and commercial value but the exposure OF
the facts in this form does not reach the heart OF the
questions and we must give moments attention TO the
farmers interest In It, The question OF quantity or
amount OF demand for his products Is solved when We
the two hundred millions Of bushels OF wheat
which the country produces Europe affords In tho Long
run market for something less than ten millions or nye
per cent Of the whole the price brings FIRST hands
needs some exrlanat ton. We here give the particulars
upon which the calculation depends, on the best author
itics which we can cOmHand. 80
Putting bushe OF red Winter wheat at 80 mine shll
hngs per 100 ponnds) price In Liverpool on Christmas
Eve 1862 find its value In gold to the Western far
mer by the following deductions Carriage from Chicago
TO NewYork soc; marine freight Ice; marine insurance
2io; commission, &c. handling. 2c charges from chi
cago 10 Liverpool. 59tc. Marine freight ranges all the
S Sny to iron c% 3D. to iOo by steamers by sail vessels
To this must be added the expense OF placing It in
and loss &C. currency; carriage Chicago lOc.
currency handling, &c., currency: total lsic.
to the farmer SIC in currency~per bnshel Il
is obvious that the expense here given must vary with
cry the Atlantic port export reducing increas
ing the total expense as may be- and 1t Is also obvious
that there be other circnmstances-sncn as
intermediate profits and charges-not here estimated,
which will still further diminish the value OF wheat IN
encountered home rate Of wages interest upon cap
& sna al GSF Of III the n facts Of this
commerce well considered. the conclusion seems IN
evtable that they should In the language OF the Pres
dent teach the necessity Of looking TO other markets
for the sale Of our surplus"
at best ruinousy inconsant market lot THESE pro
ducts that the fluctuations OF quantity ana price nave
been alike injurious that the reflected effect upon nome
prices covers nineteen wenteths Of the annual crop
with the mchefs which the other twentieth encounters
about to be wholly destroyed by the growing compet
ton OF Europe-grown wheat in our only European
market Some one will answer, perhaps that the as
pOsa of any portion Of surplus at any price covering
the bare cost OF transportation relieves the home market
choice. But how is II If clear view OF the worhlessnes
of this commerce should have the effect OF turning our
utinua and pnlc ar1
tvaton Of better tradef This Is the purpose Oh inc
demonstration here made and TO thls tns pra JuS'
noticed has application force. The remedy elective
assured final to throw Europe ont OF the aims ana
efforts policy in the commerce OF our agrlcuitnr
SURPRISES and direct all efforts TO the establish
and extension OF the other, and better ana moro
be So because they the natural outlets for our pro-
duets OF this kind Whatever turn this TRACE may take
lei il be remembered that for bushel OF wheat sofa ~
81 40 in Liverpool the farmer receives just one-ha OF
that sum- and that this s really from hVe 10 ten Genus
above the average price during last years For
the seven immediate preceding years the average was
81 per buShe Then the farmer GOT or, without count
ing against him the intermediate profits OF dealers ana
transporters might have got 81 ii his wheat, and
market for only nine million bushels per annum IN tne
later period of nine years has been receiving but GO
cents gold and had market for average OF less
eighteen millions fuctuang from fifty millions III
the calendar year 1862 TO two millions In 1866.
But our home market is terribly depressed. Wheat
is below 90 III Chicago, Notwithstanding the tarn
upon foreign imports averages nearly 90 per cent Anu
where this state Of things shall the blame be thrown
Surely not the tariff because OF It's rates OF duties Ihe
only effect which high duties hayethe only effect
charged against them by the opponentsls that they
must depress exports by reducing restricting Imports
Let In the ten years. 1851 1860 the average annual
imports OF foreign goods amounted TO S2sOOOOOi the
highest year OF the period 1850 TO s64o when Dut
for outbreak of the Rebellion would have produced
general financial crash. But now In the nscal year
1859 the imports rose TO ~ n ana nave @
than 1857 or So per cent above the period before
the Rebellion The mischief is IN this excess, which the
present tariff has been high enough Ia repess or pre-
vent This Is the only valid charge against IT,
FREE-TRADE THEORY OF INTERNATIONAL TRADE.
Underlying the Of policy which has so long
blinded us to the wOrhlessness of European trade
farm products is mlscaled principle Of international
commerce which ought be disposed of for the security
of the conclusions which the facts and figures OF the
analysis of this trade have led u.s. 1t Is usually put IN
the form of sefprovng aphoIism. self,proying and
refusing proof for the simple reason that IL IL incapable
OF any other method Of support. We told that to
sell our surplus must buy that OF the nations we
safely justly be confessed aud as
to whatever Of truth 1t contains and avoided as 10 the
application made Of IT., The questions what napons
must we buy FRONT and what commodities nust we buy
from them in order to secure good rs @ nor a Sa
and capital power are the real points at Issue nst We
find customers for crude cOmmoditiesf
This the teaching OF any general raw OF luerha
tOual trade England imports no manufactures; yet
her foreign trade grows beyond all precedent IL grew
under her protective system prOpOrtonay as last
has since ls4G because that protection was virtually
exclusion OF all rival Industries, just as her present
superiority in production IS ehectua prohibition Her
is66 although II even -four be cassed manufacture,
the total did exceed five per cent OF these Immense
at 81 1884 France, also whose system was nearly
prohibitory Of all imports which could III anywlse
compete for her home market with her own industry
In tie twenty years from 1886 TO 1856 Increased her aggr
gate imports and exports l22 per cent The same thing Is
years under the very high ar OF 1873 than uhder
the low one which succeeded H. ana Was aDahaoied III
dustry and foreign trade The following table gives the
opposite systeTus Of commercial policy:
Total aggregate eIportsu siF0hOe
To. aggregate exports in GJ4 6ooe
Tots. sgsssat. export. in 1854 60 millions Of dollars
10 8i millions Of dollars increase 2s per eeat
Total duypayiog import, years 1923 a. s72 millions
S. lCi mpori. yai 1885, a. .aG million.
sC rate u 90 aggregate imports, 1873 to 1854 a. per csG
odutes aggregate Imports % ld' o per cent
The aggregate exports include cotton tobacco all agr
cultural products and domestic manufactures, but ex
cude the specie account and so represent our entire IN
results which we totally disrove the alleged repres
sive influence OF high customs duties upon commerce.
alike in domestic exports and foreign imports Exports.
which should have grown with the growth OF wealth.
population and industrial enterprise, are seen to have
ports which should have Increased under greatly les
sened tariff well from all other causes, also declined
IN decided degree. Our more receht experience repeats
the same lesson and Is another conclusive answer to the
plausible complaint made by the opponents OF the pro.
tectiye policy. The statements addressed specially TO
the consideration Of farmers cotton tobacco ana
home manufactures embraced ~ the former statement
reduced gold values for the .sake Of easy comparison
VII" '"''' " Drty pairing Az duties Agricultural
Fiscal Year imports PeiSer{&l .Ig1ri'
1881 s 5gsi.s:s @ ss ' %'s75'
Here we have under tariff OF dHtios two and half
times cher than In 1850, the farm products e&
pOred TO foreign countries increased 80 per cent and
the duty paving imports which, according 10 irce-trade
theorists ght been greatly checked, II not al
mos auuihlated increased above % per cent Ana 10
show the more fairness Of the period or year chosen
10 low tariff Effects it should be noted that 1860
exceeded III total domestic exports the highest preceding
wear by SS To agriculture exclusive OF tobacco
and cotton IL was less favorable. falling in value OF
exports under the frcetrade taT VI 1851 about $OOO
below the usual OF the higher tanf Of l6 Ia view
OF such facts as these what becomes OF the theory
that we nIust encourage the importation
of foreign manufactures If wOad secure mar