Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1872-02-03
PROJECTIONS AND FIG.
uRES.

-
At this time when the free-traders are
directing their efforts with great energy
against the protective system, the follow
ing article, which we take from the Wash
ington National Republican, will be found
to be both interesting and instructive:
Statistics are valuable when not doctorcd
to suit the fancics of theorists. DIR. Elder,
in his Questions of the Day. has some
facts and figures not unworthy of consider
alton at this time. III 1850 England sought
to make another LELAND of America by for
bidding the manufacture of any article pro-
duced in the old country. Iron i'll the
rough might be cotton out and sent 'home,
as charcoal was well nigh exhausted i'll
England, but all rolling mills, tilthammers
and establishments for the manufacture of
steel were specially forbidden. In the same
year great British statesman became
alarmed, and declared the colonies should
not be permitted to make even nail. The
navigation laws were also enacted to hold
this country in commercial and industrial
vassalage to the mother country. During
the revolutionary war our manufactures,
per force, were protected, and at its close
we were found considerably advanced in
those skilled industries which make coun-
try self fsupplyng. From the success at
tanned, Alexander Hamilton, in his cele-
bratcd report upon manufactures in 170l,
argued the wisdom of protecting and en-
couraging our home industries. lie emu
-.,ro,od seventeen grand departments
which wcr0 JnUu nIn s-tnhlisbpd as we'll
in the Southern rs in the Middle ana
Northern States. Of textile &brics he re-
ported that in several kinds the domestic
fabrication wac not only sufficient for home
use, but was exported to foreign countries.
After the treaty of peace in 1868, during
seven years our manufacturers received a
check on account Of want of power in the
old confederation and there being no con-
currence OF policy among the several States.
According to member of the first Federal
Congress, we bOught-as the modern theO-
rists would now have us buy-wherc we
could purchase cheapest, and were soon
inundated with foreign commodities. Our
manufacturers were ruined our merchants
even those who had hoped to enrich them
selves by importation, became bankrupt
and all these causes united had such an
effect upon agriculture thata general de-
probation of real estate followed, and fail
ures became general among land owners.
I In 1886 the scarcity of money was so great
/ that riots and combinations took place to
resist the laws enforcing payment.
/ Chief Justice Marshall, referring to
Shay's rebellion, gave the above reasons
for all the troubles of the times. This con-
diton of affairs caused the States to adopt
Il more perfect system of government, and
the confederacy gave way to the Union of
( the States, by which Congress was empOw-
cred to establish an effective system fcom-
mercal regulations for the nation. Suffer-
( ing had made our people of one opinion on
I the subject of protection. In hearty SYM
I pathy with this feeling, Washington wore
coat of domestic cloth at his Inauguration.
/ In 17S1-two years after the adoption of
! the first protection act-the President re-
( ftrred to the happy effects of the action OF
! the General Government in promoting use
/ full manufactures The rates of tariff
! adopted were too low to act unaided, but
the wars in Europe and our own embargo
and non intercourse acts of 1907 and 1909
! gave an impulse to our infant industries.
! a Congressional report in 1915 places our
cotton and wooden manufactures at moro
! than sixty million per annum. After the
battle of Waterloo and the treaty of peace,
! the tariff OF 1916 was found too inadequate
! to keep out the flood of importations, and
from 1919 to 1924 general distress prevailed,
and the patriots of both parties united to
/ impose higher duties on imports. This was
/ improved in 1928, and the happiest results
I
and tea and coffee aud number Of articles
exempted which did not interfere with do
mestic production. The country was so
prosperous, and the treasury so full, that
theorists began to teach free trade fallacies,
and the compromise act of 1888 passed.
The imports in the first three years aver
aged one hundred and twenty-five millions,
against an average ofseventy millions for
the last five years of the act of 1928. AT
| the end of 1876 there was surplus in the
Treasury of forty-six and half millions,
This was considered proof that lower duties
yield larger revenues The fact is, that
forty flour and "A half millions of this amount
came from the public lands, which never
before had yielded more than three millions
in any one year, but the destruction ol
manufactures had driven so many west that
the land sales increased from live millions
in 1884 to fifteen in 1885, and in 1886 nearly
twenty-five millions. The revenue was less
in every one of these three years than it had
been since 1926. A movement, collateral
and concurrent, ran along with these chad
ges in the industrial policy ofthe hrst three
wears of reduced duties upon imports Al
The beoinnino of tbe year 1884 there were
In circulation 10 the United States ninety
five mii,:,ns of bank notes the loans and
d;.~junts of the banks amounted 10 three
hundred'and twenty-four millions at the
close of 1886 the bank circulation had swol.
len to one hundred and forty-nine millions;
and the loans and discounts to above five
hundred millions; an increase in each of
these particulars of above fifty per cent. in
three years. rH r....s
In May, 1887, the hanks suspended spe-
Gle payments all over the country If his
tory rightly rendered is philosophy teach-
ing by exerience. ''the crash of 1872
should have taught us a lesson not neces-
have been followed by general explosion
in 1861 ii our civil war had not given us
1 the Morrill, tariff and its amendments,
raising rates upon duty.paying imports to
nearly the average Of the tariff of 1923 +;