The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1871-05-04


economic manner, and keeps it the short
est possible time out of circulation. On
the contrary, when the finantial condi-
ton of the country is unsound and un-
healthy, its growth is irregular and
spasmodic; its industry is alternately
stimulated and depressed, the distribu-
ton of the natural productions among the
masses is unequal, the rich becoming
richer and the poor poorer then there
Is strife between labor and capital, and it
is then, and then only. that the national
debt Is considered national blessing,
and the maintenance of excessive taxation
IS regarded as the surest way of maintain
ing the prosperity Of the country.
To understand the question we should
90 back to the year 1857 known as the
year of the great commercial CONFUSION
The fierce storm of panic and disaster
that swept over the country at the time
paralyzed industry, Frustrated fortunes
AID involved the whole business of the
country in wreck With che causes
producing this. he did not propose tc
deal, but would direct special attention
To the wonderful celebrity with which the
country recovered from its disaster at
that time to enter anew upon the work OF
progress and development Hardly had
the smoke and dust of the fallen struc
lures of credit and fortune cleared away
than the work Of reconstruction com
mcnced in good earnest. The people al
felt that the time had gone past for spec
ulntion, inflated currency and paper
money, and the hour and the necessity
I'M rSr f1~ ,t,rEo, ;o1 ho !
work, and for the exercise of prudence
and skill; and during the next three
years there was more bard work done
more real money earned and saved, thar
in any three years Of history before o.
since In that series of years it was that
the commercial tonnage rose for the first
and last time to five and half millions oil
tons;that our cotton crop exceeded five and
half millions of bales; that our exports
rose to 81 100000 as compared with 3d.
000,O now that our exports of domestic
productions attained the highest figure
Our population consumed the largest
amount of tea and coffee put the largest
amount of cotton spindles in motion oil
any corresponding period; constructed
more miles of railway than at any previou;
time, and increased our consumption 81
foreign productions. But notwithstand
ing this, our exports and sales increased
in So mucn greater proportion that the
balance of trade, or indebtedness, remain
ed uniformly on the side of the United
States American coarse cottons sup
planted English, had become staple in
almost all the markets of the world, and
American trade marks were resortei to
by English manufacturers. Light Amer
ican cane bottom chairs, and American
cheap furniture became a staple in the
British and Spanish possessions Australia
and the Cape of GdSd hope, and many of
the provinces and states of South AMER
lea; to all these countries there went out
every year in American vesstls, constant
supply of agricultural implements, hard
ware, boots and shoes, one seventh of our
product Of fur and felt hats, printing
paper, ink, omnibuses, carriages, engines,
machinery of every description were ex-
ported, and last though not least, patent
medicines and garden seeds were sent out
by the ton. 'li
Under such condition Of things, pro
exchanged for product, com
merce fourished, ships were built, indus
try was diversified, and there was con-
tinually increasing foreign market for
our products of industry and agriculture.
Let the advocates Of special theories
say what they may, there never was a.
time in our history when wealth increased
faster and distributed itself more equally,
and when our population was more act
lively, and fully employed, than in the
three years Immediately preceding theI
rebellion. And, what is very singular,
during these years those tariffs which now
form such bone of contention and dis.
pute average only eleven to fourteen per
cent. on the aggregate of our imports, or
from eighteen to twenty per cent. o.
such portion of our imports as are now
taxed, and what is still stranger, thc
whole subject Of tariffs at that time. ex-
cited SO little attention, either among
politicians. or the. people, that if you
search the records of the daily press and
journals of commerce, you will hardly find
l single allusion to the subject.
Mr.. Wells, referring to the question of
Of our commerce said During the year
1909, Two iron sea-golng vessels OF 1, lou
tons burden were built in Boston harbor,
for $115 a ton, which is as cheap as they
can to-day be built cor on on the Clyde
or. III any part ofGreat Britain. Another
fact, still more singular, is, that during
those years when cotton mills were spin
ming more cotton by 45,0O0,0OO pounds
han they spun last year, those same cor
porations throughout New England,
without any agitation, voluntarily re
iuced the hours of labor from twelve to
sleyen hours, without reducing the wages
Or materially diminishing the profiss.
But the war came, paralyzing and de-
angling the business of the country, and
IS it went on. the government drew from
he