New-York tribune., 1875-05-13
ADnPrss OF THOMAS y. DALE.

As for us and our industry, the past year has
been marked by many Of the adverse features which we
in common with manufacturers experienced In ~
depressed market, with depreciang prices, followed
industrial efforts nearly 10 its close. But forced
economy the low price for material together with
reduced wages labor, 10 which our operatives SUD-
ntted In most cases. without demonstration, have en-
abed our manufacturers weather the late financial
storms the severity and duration OF which have not been
equaled within the memory Of the present generation
But am happy to say this year commences with more
fatterng prospects than perccptble on our last
annual gathering. As representatives OF comparatively
new industry, we may congratulate ourselves upon the
manifestation OF many favoring elements attending our
patience and perseverance, among which not the least
the gradual disappearance Of prejudice In laVor OF
foreign manufactures And 1t is to be hoped the time
not far distant when American trademarks and the En-
gsh language will replace foreign terms ana Imperial
and royal crowns which have hitherto been almost
necessary give to American products Respectable
passport even into public consideration.
The Little Tariff Bill" socalled. in becoming law,
has removed barrier larger field for our enterprise
II has restored the silk industry its Just protection
under previous laws by giving them their true nterpre
tation could hardly have been the intention OF
Congress- OF the committee who framed the SILK clause
in the law of g. admit silk goods having few threads
OF cotton therein OF duty which gave to foreign
the advantage OF II 10 Ii times the value
Of the cotton Introduced And still less nasmuch as
the game law mposed OF per TO 20 cent
upon fine cotton yarns such suitable for these
fabrics OF mixed material. Thus II constituting the
law OF ga as prohibition 70 home labor and American
industry.
Notwithstanding the harsh and bitter expressions
sometimes employed by public men and writers IN
opposing the principles of protection 10 home labor
think we can growing sentiment in favor or II,
which ii is to be hoped will continue until crysall;zes
into national policy which TO be dictated by the
very nature and character Of our institutions.
Much has been said and written, not without nvidous
that Of France But be remembered that France
has DO foreign obligations In her commercial
exchanges she has always striven to maintain equ
brum her imports and eIpOrts Consequently she as
nation Ia her creditor, and when called upon TO
pay the indemnity dictated by the fate Of the
late war with Germany. she drew upon her own people
she checked upon national the interest
which increases her taxable property for her sinking
fund While with u.s. creditors foreign. We have
drawn upon the Of foreign natious and ey hold
the against interest which absorbs the
entire product of precious metals and places the
ability increase wealth beyond the Jurisdiction OF
laws for taxation. We all know the individual
omy tae excess OF expenditure income is repre-
sented BY debt So II Ia with nation. And not
what may be the result OF statistical tables the
positively the excess of imports exports
during the time OF creation In 1850 est
mated our foreign debt at $5O,OOO,OOO Imean
national state. municipal and railroad debts To-day
var,oasly ssamassd from $AS0ooo0,0oo 70