, 1875-03-02
rnEExpnRr pRQBLEN.


woods with woolen and cotton mhn"1aelufeo
goods. Wo did then as England. France anil
Belgium do now,-impoEtea fa~ mases'"a,
added TO its value by tho eniployh'en' oi
labor upon 1t, which reduces bnlK anu III.
creaaea valne, and 'es''ppea !. whence II
CAME. We were inst supplying eoata amer
ica and Mexico with cotton goo'ls' 1ho
British manufacturer, WILL Ills "ares u n'-
ferior quality md greater cost, could nos
compete with us even in the uh'na markets.
Our ship-yastls rang with tho blows OF A1hef''
can labor. They arc empty and rotten now.
Our export Of manufactures ID almost NIL.
The state of things in ,o'-ol ~ nh exact P'c'
tnre Of what has not been truo since 1s1l.
At present, With cheap tood' chenp coa', with
iron aud lumber ut our doors, with WOOL cot
ton, lax, md hides IN abundance Will su-
perabundance Of skilled as vol as raw labor
with good labor.saving machinery. and with
every natural advantage for Cheap production
and consequent expectation, we export al-
most nothing except raw, coarse, bulky agrl-
cultural produce, which IL tho least adVan'
tageons thing to send abrond to great dif-
tances, because its va!ue is chiefly consumed
In cost Of transportation.
Thero must 10 roasoa lot tne d'aerenee
between 1851 and 1876. We know that the
nation which can produce the cheapest will
export tho most. When VIC exported Of man.
ufactnres much, therefore, production must
have been cheaper than now when we ex-
port so little, notwithstanding lapse OF four
}anf ITHR cQf1EHR Of the Increased cost
are Two, huetuating, deprecated currency,
and barbarously high tariff,
Prof. AhtAsA WALKERS article an "Ihe
Money Problem" In tho current number OF
the International attributes the increased cost
wholly to the bad state OF the currency. Ihis
is either stupidity OF coward1co' a huctuat-
ing currency increases tho cost OF prouuc-
ton only by the insurance which dealers
exact in order to cover possible aepreclation.
This is by no means IN insignificant OWL, bit
it is not tho great one BY any meafis. we
are inclined to think that WALLER, unl'ko tue
other New England economists, ATKINSON
md WELLS, is afraid to tell hia he'ghpors
what curse ao.callod "proteetion " III to the
countrys prosperity "s afa lotn 70 oeliese
laAs y A1o4 ~ Ae's A~PA'0 ~4 '7'@ ~
tho glaring eE7or OF WHICH lie mas other"'se
beon guilty.
A.high tariff increases the cost OF pToaue"
ton BY increasing tho cost ~ OF oil raw
materials, (d) OF oil labor, (c) OF oil mach'n-
cry, (d) of MI transportation. on imported
raw materials, high duties have to he paid
Native raw materials aro not strictly "rnw."
They all represent moro or less labor. Tint
labor has cost more, by reason OF tho high
duties on imports; and 80 tho 1naterinls have,
too. Labor costs mors, because living e.
penses are greater, and wages can nerer
fall permanently below those expenses. Mn
cl,inery costs more, because its materials and
their manufacture havo both cost moro.
Trnnsnortotion Ia lcAror, because Tol[l-bc{I.
rails. rolling.stock, aud statious lave all been
produccd at q erecter cost, and the lantls
employed arc hired at higher rate. Thus,
n bioh tariff, by swelling the con: Of each oi
these four tactors in production, greatly In,
crcases the cost Of production itself. We