The daily gazette., 1878-05-30
The Tariff Question.

The able Representative in Congress
from the Lynchburg District, Hon. John
Randol ph Tucker, in his recent speech
onthe tariff, correctly argues that tariff
not for the revenue, but laying contribu-
ton, as the present tariff does, upon one
part of society to sustain the industries
OF another, is contrary to the spirit of the
Constltution-that it creates a privileg-
ed class to receive bountles derived from
the burdens imposed upon the great mass
OF the people. What was misnamed
protection operated as bounty to the
privileged class, and was as unjust as if
the bounty were paid directly out of the
treasury to that class. He showed that
while the revenue paid in duties on inn
ports was S130,0O0,000, it was probable
the people paid annually as a tribute to
the privileged class not less than $780,
OOO,OOU While the manufacturing classes
amounted TO % pr cent. of the whole
industrial population of the United States
the i6 per cent. were made to cbntri butte
to their benefit, and that the effect was a
vast increase in the wealth of the manu-
facturing classes compared with all other.
He showed that as manufacturing inter
ests were aggregated in the Northern
States, the West and the South were
| tributaries to Northern interests.
Mr.. Tucker concluded his speech with
| the following peroration | wish TO sup
press every feeling that by remembrance
l might revert to, and extend my hand
to every man upon this floor. We are
brothers of common race, co-heirs OF
an Inheritance of constitutional liberty,
| co-partners in common destiny and
| civilization. We have virgin continent
washed by oceans and permeated by
great channels of Interstate trade and a
virgin soil teaming with products which
Will feed the hungry world, clothe the
| naked world, and shelter the homeless
world.
| Oh, my brothers, have we not something
better for us to do do than indulge il
memories of the past? Let the dead bury
its dead. Forget the things behind and
reach the things before. Let us join to-
| gether, hand by hand, clasp our arms in
one common impulse, unite in fur
thering the progress, prosperity and
honor of our country and make it the
glory of the world and blessing to our
childrens children, for all generations.
Applause all over the III ouse.
Apart from the waste of war, great
deal of the aggregate wealth of the coun
| try is not lost 1t has simply changed
hands or nominal values. The shock o
the panic of 1873 was very severe, anC
the damage it infiicfed was widely ex
tended. But If the shock was great tn,
power of recuperation is also great. Ano
although the early stages of recovery
| nave Deeu SlOW, anu values Ieel tHe eHec
OF that Shatterlng of confidence which
was caused by the financial cataclysm o.
1873, the very slowness of the recovery
jaugurs well for the permanency of i
when it is reached. A return to the higi
prices of the war is not to be expected
for them, as after the war of 1872, every
thing was artiticially inflated, and, as i
did after the war of 1872, a strong reac
ton would have set in until values wer,
brought down to their proper standard
even if the crisis of 1873 had not occurr
ed. The crisis simply accelerated tn
shrinkage. To the extent of the differ
ence between the abnormal shrinkag
eaused by the panic and the norma
shrlnkage that would have been produd
ed by the reaction from war consumption
and prices we may expect the country Il
| recover, and that recovery would be thu
more speedy If Congress would leave of
tinkerng with the finances.