The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1872-12-13


| figures:
In 1860, II per cent. of our foreig
commercc was carried in American YES
sells.
In 1864 il was 81 per cent.
In 1868 il was A. per cent.
IN 1870 less than 30 per cent.
The earnings of the vessels that are i
this business are estimated at one hun
dred millions of dollars a year. OF thi
we have got less than thirty millions O
dollars. Foreign nations. mainly Grea
Britain, make the other sevent, million
from rs. We have lost in twelve wear
what Is equivalent TO forty millions
year. The decline in our shipping is 8,
steadily and rapidly goi,r. on that VI
iare already threatened, in few wears
with It's entire eA;inclion = with the tota
disappearance OF our ilig from The ocean
I HE cause Of this was attributed to III,
fear of the raga.es oil the southern pri
vaieers. But unfortunately for this the
ofy. al the close OF the War we had 6.
per cent. of the foreign commerce, Will,
We have now less than 30 per cent. Oul
high tariff has been The catise Of the i'm
inense havoc in our marine. Who vii
build Il snip in this country. when II
consequence OF the high prices OF iron
copper. cordaTe. sails and timber the re
suit OF oar Iii II! protection 10 those ar
ticies they can be built in Canada ol
Great Britain for nearly 80 per cent
les cost: Congress recognized This al
the last session by passing law allow.
Ing drawb back OH foreign articles used
4
bii The secretary declares It Il. cn!ircl,
iin"icghaie. Th. draw bacA i aliogci'l
or too small. The drawback W oush
10 have is the substitution of lam tD,
revenue Tor a high protective tarin Tho
importance o.. rp-astAblisliing our s!Iip-
plug j. recognized by the S,.cfeiar,
whcn !ie says that England controls
lhc markets OF the wor.i bv controlling
The Channels of communication"
Although seeing cieir!y the disastrous
effects OF the ~o-callci protection 10 one
branch Of American labor. the Stcretar,
iaases fiimsy and o:t-repeaie,l argu-
ment ii II, favor generally. lie s,ivs
for instance: A nation HAT can PRO.
ducc given Article ai hess cost tian /,
ra' hr produced elsewhere may wisely
arcepi free trade III ill., The inference
j. that i ain'r wise ii Tie .sielS cost,
Elorc iirTe than il does elsewhere. le;
that i tie very rcasuii free trade would
bc beneficial. Ii Il man can't make his
own shoes a, cheap rs hi uciglhor can
~ Lad better lct lin da Il ama turn H..
Industry 10 a more profitable account.
- "it! rl;ior-. wEich are but an 80
.:resatc Q. iuS!ividulr. We are told thai,
after Ill this high tariff system is only
intended ior temporary purpose: ii,tii
hy ami hy ctrlain brancisc. OF American, NJ
INDUSTRY viii Dccomc 50 s.rorg Tint thew
can stand alone and gct a.cng witIout il I
A he people are little tired of this nat
lri!i1liion rro.ess. For more than ii,tvI
YEAR. with occasional intervals. this
protection has been /. ,ing on. and those,
benefited ~ il are moro ciamorons for
lis continuance now tsan ever before.
They are set Of cornorants the more
Ley sci the more they want. The Sec
'etary says that tie country was COM.
pellei Us the war to impose heavy du-
lies on merchandise But. according
10 lis protective tariff philosophy, III
was right and expedient. IL is certainly
very rare that compulsiom is required
for that which ought to be- done of neces-
-ity. The fact is, the Secretary does
not tell The truth. The most objection
,5lc features of the present tariff. such:
Is lis duties upon iron. cotton and wooi-E
"a manufactures upon salt. coal. timber-
don't produce near as
much revenue as ihey would if the du-
les were considerably lower. The du-
fnc N m Ia ,:..l.
Keep the foreign articles ont. for the
lenctit of the home protected interests. I
nd thus they deprive the Government
'f the revenue which it ought 10 derive
rom them.
IN regard TO the question Of currency
he Secretary SAYS: lin the view | am
.bout to take exclude the idea That thcl
Government will ever abandon The issue
pf National bank-notcs. and undertake
he Issue of United States notes in thcir
,lace.' The prodieious argument OF.
lie Secretary against ihis policy is en-
,raccd in the following:
"The result of such n policy NAV bel
nrcsccn. The penIAc. deprived Of tbe'
acilities for business afforded by banks.
would seek relief through State insutu-
ions. and without much delay Congressl
would concede to them the right to REL,
ssue notes for circulation. This COM
'ession would be followed by surren-
Ter by the General Government of ALI
'ontrol over the paper circulation OIL
he country. The true policy will bcl'
ound in continuing the National bank
~ system, without, however,. yicldingl'
~ increase OF its issue in proportion tot
lie volume OF paper in circulation
In other words, the Secretary believes