Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1875-06-10
REPUBLICAN POLICY.
Its VindicatiOn by Late Event,


ed and important in the last ten
months, and its effect upon the reve-
nues so gratifying as to completely con-
tradict all the representations of an
untoward condition of things INDUCED
in as well by Democrats for partisan
purposes as by others who have had f.
nancial crOchets to serve. Nothing
has been more noisily kept before the
public than the assertion by the free
traders that the decline in the general
import TRADE and consequently of the
national revenues was natural and
unavoidable result of the protective
policy; and it was considered eXtraor-
dinary that any one in favor of that
policy should contest the inference.
We have always said that although the
rapid advances of American industry
in many leading lines might reduce
the great dependence of the country
upon foreign products, yet that the va
riety of imports must always be so
large that the falling off in some arti-
cles would be more than made up by
the increase in Others produced by the
ability Of the country to buy more in
a state of prosperity caused by the ad-
NduCt uCI OWH
And this is precisely the case now.
For in this recovery of the import trade
it is not the articles that declined in
consequence of the extraordinary pro-
gress of the leading lines of domestic
industry that are now recuperating
but other articles. Foreign capital is
thus ever ready to shift from one pro-
duction to another. 1t is always in
venting new fashions of dry goods, new
styles of other products, and creating
the tastes and the wants it lives upon.
1t is a necessity of English, German
and French capital that it must find
employment, to great extent, away
from home, since it can earn no ade-
quate return there; and, as America
offers the best field for it in all the
world, it will continue to come here,
and the more we seek to make the ma
ton independent and self-sustaining
the more these foreign nations be COM
PEELED to exert their ingenuity in the
export trade to the United States, in
order to maintain their system of eX-
change, and make goods serve instead
of cash in their investments here.
Under these circumstances depres-
sion in the foreign import trade can
never be more than temporary, result
ing from the stagnation of business at
home, hard times, the idleness of large
numbers of the working classes, who
are the great consumers, or financial
troubles. An advanced civilization
like ours generates wants thai are in
finite, and we do not see how we are
ever likely to change this unless we
can succeed in emancipating ourselves
entirely from the control of European
tastes and fashions. When this control
is so complete that even rich and infiu-
entail people descend to be smugglers
in order to bring in full supplies OF
dresses from London and Paris ready
made, it seems to be nonsense to sup
pose that the national revenues can be
permanently injured by protection.
Under Jehnson's administration the
revenue service was neglected and fell
into decay. Secretary McCulloch was
so immersed in currency, debt and
finance, that he exerted very little con-
troll over the actual business of his de-
partment, which was the rigid enforce
ment of the revenue laws. AS long as
the taxation was sweeping and univer-
sal the revenues were ample, and Mr..
McCulloeh sailed along with high rep
utation as financier. But when Con-
gress relieved the people by reducing
the taxes, the neglect of the revenue
service became apparent in the rapid
decline of revenues aDd the increase of
debt. That this was really the case was
proved by Grants administration
which at once arrested the increase of
debt and commenced again its reduc-
ton, simply by stopping the leaks in
the revenue service, a policy that has
been faithfully adhered to ever since.
When the panic and revulsion of 1873
set in there was of course a temporary
and very heavy decline in the reve-
nues, which was at once eagerly attri-
buted to the governing policy and has
been so ever since without shadow of
justification. But Congress adhered
firmly to its policy; protection was not
the tea and coffee duties
were not restored, and the revenues
have recovered. The import trade is
and the debt continues to
diminish. The prophets of evil are
all disappointed. Free traders see fore
Ign commerce reviving under protec-
tive tariff; and currency theorists see
business gradgually reviving with out
the aid of any new inflammation. Every
financial act of Congress indicated as
or useless has proved en-
tirly successful. The bank redemption
has proved universally sat
isfactory; the free banking act is in pro-
cess of enforcement without any result
ing infiamation; the funding act goes
On regularly, and when we look back |
upon te abuse with which the authors
Of these acts were visited, the conclu-
sion is inevitable that this was in pur-
'uance of a systematic partisan policy
to humiliate and destroy Republican
rule at any cost without the slightest
reference to political, economic or
financial principles, or regard for pub
ic interests.
1t is worthy of especial note that the
whole burden of the government falls
lpon North and West, the South not
enough revenue to pay the
ordinary expenses of the departments
n that section, it was the aim of the
Republican reconstruction policy to
.hange this, and by recognizing the
ocial condition of the South to make
t more prosperous and consequently
more productive of revenue. But all
hese measures have been baffled byl,
he dominant classes at the South, aid
ID by the perverse and malign iDfiu-
nee of the Democratic party. North
rn taxpayers, therefore, must look to
he Southern reactionaries and the