, 1873-06-07

False values and unjust taxation arc Siauleso
twins. Cut the ligament Of mutual dependence,
and both nnret dio.
That nothing but the false valuations which,
fictitious and dishonorod currency causos can
a1ord oVon tho pretoxt Of an argument In de-
fonse Of protection, tho Boston Globe has onco
moro illustrated, In all attempt to compare the
export prices Of crope under tho low revenue
tariff ending In 1861 and undor tho protective
tariff now In forco. 1t represents that the ay-
orage export prico Of wheat, during tho llftoon
yonra Of low dutios ending IN 1861, was 51.s1
per bushel, and during e1ovon ycars of protoc-
ton ending with 1879. it was s1.37 per buBhol.
How tho old trick, 60 common with defenders of
monopoly, is rosortod to, namely, compari-
son OF values reported in doprcoiatod currency
With valued reported in gold. But for this mia-
representation, tho Globes own figures would
have proved that tho export price since
tho adoption Of tho protective syston has boon
lover than 1t evor was before, In any period of
Our history since railroads and canals begun to
afford m outlet for our surplus products.
The average prico Of gold, according to tho
official publications Of the Treasury Department,
was s1.o2 in 1862, s1.s7 In 1868, s16G in 1861,
s2.o8 in 1865, s1.41 In 1866, e1.41 in 1867, s14o
in 1868, s1.s9 in 1860, sl.23 in 1870, s1.12 in
1871, and 91.11 in 1872 and tho average price for
the eleven years was, therefore, e1.3o.
Taking tho Globes statement, that tho
export prico Of wheat for these eleven yoarn WAS
S1.97, We observe that 1t Is manifostly compiled
from Treasury tatlos which stato export values
IN currency, and carefully accompany the record
with tho price Of gold, so that tho reduction
necessary for any honest comparison with gold
values may DO made. For tho purpose Of any
comparison with tho gold ynlucs of exports prior
to 1861, tho actual export pricc Of whoat
for tho eleven years ending with 1879
has therefore boen, according to the Globes Own
computation, only 9l.00 7-10 per bushel. Tho
account then stands thus Fifteen years nons
protection, average export price, e1.9l; eleven
years protection, average export price, s101;
loss to tho producer under protection, 80 cents
buBhol, or s79,310, 1872 on tho wheat actually
exported since 1901.
The other compariaonB ma1o by tho Globe con-
tain the same falgity. Tho export prlco Of flour
Is stated at 97.8419 barrcl ainco 1861 whereas,
for the purpose Of. my honost compari-
son, tho price WAS really a5.40
barrel in gold, and tho account stands
thus Fifteen years Of non-protaction, ayor-
ago export pricoo flour, SCOT por harrol olevon
years Of protection, ayorago export prlco Of
flour, 55.4o per barrel loss under protection Ct
conts barrol, or, Oh tho flour actually exported
In tho eleven yoars, Sa2, ,172, 14o. Again, tho
Globe statoB tho price Of corn at 79M cents d
bushol, which, aa before, ia only its reported
Valuo III currency. With gold at 1876, tho aotunl
price, for tho purpose OF any honest comparison,
was only 50 4-10 cents bunhel, aud tho account
thon stands thus: Fifteen yoars Of non-protoc-
tion, average export price of corn II 41bcents per
buBhel; oloycnyoara OF protoction average export
prloo 68 4-1o ccnts loss protection 10 cents
busho, or 917, ,t54 ,002 OIL tho corn actual!y OK
ported in tue ysara 18g2-72 Inclusive. T4ua, in
Rtoaa Of a increase in tue price pf zach article,
aa tho false valuations mako 1t appear, tAoro
was actually d loss on oach, aud tho ontiro loaB
to producers Of this country, III con-
sequence Of tho lower export prices
whloh haye prevailed since tho protective
eyston was adopted, has boon not loha than ono
hundred and twolvo milllona Of dollars On these
articles alone.
Wo ought to say that wo question tho accuracy
OF tho Globes computation as to tile prlco Of
wheat, and bolloye that tho export price In cur
renoy waB little higher than sl97, but not
enough to affect tho reasoning horo!n, or to in
validate tho statement that tho average
export price has mover beon 80 low
In any period OF non-protoction since
1870. During tho five years onding In 1S46-tho
yeasa t84s, 1874 md 1s45 being undor tho pro-
teotlye ayatom--the average export price was