Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1871-10-03
sECRETARY BOUTWELL, At CINCIN'
NATE

NATL.
Secretary Boutwell, delivered the second
of his speeches in Ohio at Cleveland on the
2eth. The first part of his speech was de-
voted to the consideration of the position
of the democratic party upon the constitu-
tional amendments. 1t will be recollected
that the "new departure" of the democrats
originated in Ohio. The analysis of the
amendments which Mr.. Boutwell, gave
and his explanation of the relation of the
democratic platform to them were directed
to show that the democrats are not sincere
in their "new departure" and that the en-
forcement of the amendments must depend
upon the republican party.
He next noticed the resolution in the Ohio
platform which declares the banking sys-
TEN of the country unconstitutional, OPP
pressive and extortionate." He declares
that the banks had been prosperous, but
they had given corresponding benefits to
the country. The policy of the republican
party should be and is to regulate them SO
that their profits shall correspond to the
profits of other kinds of business upon
equal investments.
Passing from this Mr.. Boutwell, took up
the subject of the tariff, upon which we
quote his speech in full
The ninth resolution OF the Democratic
Convention of this State is in these words:
18th, That we are in favor Of a strict rev.
enue tariff conformed to the theory and prin-
ciples of all other just and wise tax laws, and
opposed to the protective theory, soscalled."
do not propose to enter into an elaborate
discussion Of the tariff system.
Such is the condition of the country, both
in its business and its finances, that the dis
cussion of the questions of free trade and pro-
lection must be without practical results.
Aside from all theories, and supreme over all
doctrines Of political economy. is the great
fact that vast mechanical and manufacturing
interests have been built up in this country by
the legislature was designed to be protective
or not in the sense in which the word Is used
by writers on political economy, the necessl-
ties of the country have contributed, through
its legislation on the subject, to the establish
ment and growth of these industries. We
cannot at once change the legislation of the
country and reverse its policy without evil re-
suits to business and to the finances of the
Government of the most serious character.
What can be done, what ought to be done, and
what trust will be done, is to re-adJust the
tariff system, looking to moderate reduction
of the revenues, and the removal of such
features as appear to be Objectionable. may
say that officers Of the Treasury Department
are now engaged in a careful examination OF
the tariff laws, and are preparing therefrom
list of articles used in the arts and manufac-
1.,A Asp1Aa of aaif n r
comfort, and that do not enter into COMPETE
ton with articles manufactured or produced
in this country, and from which, individually,
the revenue derived is Inconsiderable. They
are also preparing another list of articles,
similar in character, and from which the rev.
enue is not so large, but which do not enter
into competition with articles manufactured
or produced in the United States. Accompa-
nying the latter list will be furnished such in
formation as they may be able to obtain, as to
the extent to which the articles named in that
list enter into competition with domestic pro-
ducts.
Notwithstanding the reduction Of the debt,
and of the annual expenses of the Govern
ment, large sums of money must be raised by
duties on imports. In adjusting the duties, it
is undoubtedly wise to relieve as far as posi-
BILE the necessaries of life, and articles not
produced in this country. but which enter in
TO and affect the cost of domestic manufac-
lures, and, on the other hand, to secure as
large revenue as possible from duties on
Injuries.
The line which marks the difference be-
tween the democratic and republican parties,
on the subject of the tariff, is perfectly clear.
Needing the resolution adopted by the Demo-
cratic Convention which have already read,
the only result aimed at is the collection of
the largest amount of revenue from each i'm
ported article, without reference to the effect
which may be produced upon the business of
the country by the rate of duty fixed. Apply
this principle, for example, to be delivered at
Cleveland, with reasonable profit to the
manufacturer, and the cost Of transportation
paid, at $40 per ten. Assume, also, that the
cost of manufacturing pig iron in this country,
and delivering it at Cleveland, would be So5
per ton. In order that the largest amount of
revenue should be derived from duties on pig
iron, it would be essential to place the duty
just at that point which would prevent the
manufacture and sale of domestic iron, for
every ton of domestic iron manufactured and
sold would under the circumstances, diminish
the revenue just to the extent of the duty
which otherwise might have been collected
upon it il it had been imported from another
country. The democratic party would, there.
fore, place the duty at 81 to 81. so a ton, just
United States, and high enough to secure the
largest revenue upon the imported article.
The duty being thus fixed, the manufacture of
domestic iron must cease, or the cost of pro-
ducing it must be diminished. The manufac-
turer will not. for any length of time, waste
his capital in attempting to compete with the
foreign manufacturer. Whatever else may
happen, the domestic manufacturer will seek
to preserve his capital. His only recourse is
to reduce the wages of the laborer. The ef-
feet, therefore, of this policy, is to bring the
pressure of the competition between the man
ufacture of the domestic article and the man
ufactare of the foreign article directly upon
the laborers engaged in the manufacture of
domestic iron. If they yield to the domes-
TIC manufacturer to such an extent that
ne can compete with the importer, the policy
market out Of the democratic party would
lead TO further reduction of duty, because
every ton manufactured in the United dimin.
ishes the revenue just to the extent of the du
~ winch might have been collected upon the
imported article. The result of this policy
IL lQborQre in ~