Union and American. [volume] (Greeneville, Tenn.) 1875-1877, 1877-06-07

'-s'"sJ f'~f ~'-'~
was but the dawning of a brighter
day, when the great legacy that
the genius of poor Scotch profes- |
sor gave hi, country--"The wealth I,
of Nations was to bring forth its
fruits. ~ he hour and the man had
arrived" when Sir Robert Peel,in
1916, following up bis reduction Of
the tariff in 1882, swept away the
corn laws, the most cursed monop.
oily that ever oppressed q people,
inaugurating free trade inEngland.
The result of such wise statesman
ship las been to make England's
property the wonder Of the world
Now, does any sane man doubt
that this country can be raised f.om
its present wretched condition to
prosperity by equally good states
mansbip? There is not doubt of
it because the whole of it's business
depression proceeds from bad laws.
1t must be impolitic laws alone
that make the present extreme
hard times, for God has given us
everything to make us prosperous
-an energetic race of people, well
educated; an extensive and fertile
country. a fine innate an immense
sea coast, large navigablc rivers
AMI lakes, mines of coal, on,gold
silver and copper.
While admitting that part ofthe
| present distress has been cauSedby
destructive and extensive civil
war; yet maintain that our res.
toratiou to prosperity is prevented
by the continuance of high pro"
tective duties on imports. This is
no time for half measures. The
party who will succeed in ruling us
for the next twenty years will be
a paray who shall make q platform
which shall proclaim Specie Pay-
ments. repeal of protective duties
on imports, tariff for revenue
only. economy in Government exc
penditure, The first measure Of
Importance will be the restoration
of Specie Payments, so that capi-
tai can be safely lent to encourage
and promote new enterprises. The
next measure and that of the most
Importance will be the repeal of all
protective duties on imports, be-
cause they act as Government
bounty to misdirect labor and cap-
ital from a greater to less profit.
able production, are indirect taxes
on the consumer and in the long
run ruin the protected interest by
misdrecting too much labor and
capital into the favored pursuits,
causing ,Nverproduction loss ruin.
All future tariffs must be for
revenue only; duties must be plac.
ed on such articles as cannot be
produced at home. If the neces-
sity for more revenue should COM
pei duties to be levied on foreig1
commodities, such as we can hke>
wise produce, an excise duty must
be placed on the latter equivalent
to the import duty on the former.
To restore prosperity to the
country the Shackles must be re-
moved from trade. To sell to ad>
vantage we must bave freedom to
buy. Therefore low import duties
must be Immediately adopted.
Last year the average duties on
articles not free were 46 per cent.
What an absurdity? Reduce these
duties to Is per cent. even If you
have to impose direct taxes 10 en~
able you to do SO. Encourage i'm,
ports, and exports will take care
Of themselves. Millions of peo-
pie in Europe who live on potatoes
and coarse grains, if you lessen
your duties on imports will be en-
abled to consume your breadstuff
and provisions.
Fifty per cent. duty on foreign
commodities is disgrace to the
spirit Of the nineteenth century. 1t
j, as suicidal policy as il our
Government hadby artificial means
lessened the depth of water in all
our ses-ports by oneSthird, or had
Issued proclamation to all foreign
ers, declaring, "You may send
your merchandise here, but our
Custom house officers will seize one
third Of the goods and confiscate
and sell them for the benefit ofthe
home producers Of the same goods
to get one-third more value from
the general consumers. This
would precisely have the same ef-
feet as SO per cent. protective
import duty. gg {,
Away with such nopsenee. Ev-
cry dollar's worth OF goods impOr-