The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-10-08
American slips. s22 500 ols gold. all taken

! freight earnings over all nations WIS So l1d JJ7
! per annum. while i'm 1870 tine cX's-. OF foreign
! froiSlt earnings over Amer -an V.f- t.2.sjl.G1S
Uhr ior i'm as '.-- since b. iur Isl great o. ulvk-
/ INCA difference tous. uouroWuu." .o-t.aud
t't' foreign o., 'D-- whi.i wo iuid uui. e 49,
o1'.i1j. auli anal carried Quite tur country.
+ TOTAL luss on ircighis ana i,.-s 80. u.Onoy
+ t".'imatIn. Do" passenger money on 60" basis
/ of $780, w duiHg i'm that Year oyer Z pr cent.
81 the trodc. ;j7.179.17j. gold. an ii.,n.lroai.
/ Tho Trcasutrr'3 report doclnr'l ri' freight
/ carnn-s w'rc largely over siu0uJ1co1. Tho
/ statistics for 1872 show the riLht-Lnl pssen-
| ger money az st3l742Ilt. According ~ SoDro-
tarv Brietow's report. We wcr" d0.n. 20 per
cont ~ this amount. foreign vessels d. ng tho
remaining ~ PR cent. oar proportion. a.
| corlins 10 his report, amounts &, the sum Of
| s3ju33o3i.
Now suppose our shipping 10 10 In tho samo
condition it WIS before the war. thon W. would
Doe on'it. to over ~ per cent. oft'ls tt3l Ti2-
All. which would b, soi3ia.703; instead. how
ever We are earning only s3j Obj OBJ. and los
ing SjJ2SGG1l per annum gold. paid TO for
| cign"rs Ii we hal. as formerly these golden
freight and passenger moneys since peace was
declared in 1865. up to date. thirteen years.
they would htvc amounted 10 the enormous
sum VI 81 226.ljG.2 ni. which is SJGl 1916 POI
moro than al th legal t'ndrr nm 4 nuiio'0 bank
notes outstanding to-day. All o. this cnor-
nous freight and pH' ,nneer m nov the pros-
emit outstanding rnu"r circulation. sii2ulo nuO
and also tho coin intho Treasury and thrunnk-
siouuOO.u u we would huye had In circulation
today tho sum 81 :2.ojs ,l5G.20i. Iu-tcad Of
this cNnl t0n. however / lav'alroa.y shown
u.at in Consequence of tuc loss &C our shiruing
W. have been compelled to ply out ~ cmnings
from other sources an annual average Of
Sj7.719l1j, gold. to foreigners. which null
tuiied by l3 the number OF years since
the poaccl. amounts to- s1jtt2o27j. Under
this exhibition Of facts. the crushing weight
Of the taxes. the stagnation Of trade. and the
sufferings 81 labor consc TO Doe % wonder.
Thus it is evident that. except for the loss II
our shipping. our Government and the banks
would have been paying specie for tho last
eight years, values would hayc been fixed.
shrinkage in real estate avoided all discounts
upon deprecated paper would have remained
in the pockets 81 the consumer and taxpayer.
the national debit would havo been less than
slou1ulou 600, and the burden OF taxation les
scncd in proportion.
have stated our case in tho plaincst posi-
DIE terms. in order To- reach minds posscsscd
of the most ordinary int .ligcncr When We
properly comprehend tho immense injury we
have sustained by the loss ,of our shipping. we
will Doe prepared 20 appreciate the vast i'm
rortan of the scheme We will now develop
90 re- 'rratc this lost tonnage. restore the in
du-try ..,--ary TO it, production. rebuild
sl2OuO1 u0) II lost taxable property. and recall
our sailors from beneath foreign ilag-. to again
breast the storm upon the decks of their own
country
LIT Congress adj final section to tho pros
cnt tariff law importing tho diferental uuali0-
cations necessary 20 our purpose in which Soc
ton it shall bo specifically declared that all duti-
able articles imported in foreign ships shall pay
duties according 10 the existing rates. but that
all dutable articles imported in American ships
shall pay a duty II three fourths or four Afhs
OF the present rates that all articles in tho
free list shall remain free in American shius.
bat upon art les now free. imported in foreign
built bottoms. shall bc ns-essc. q very modcr-
ate duty excepting such articles iu the free list
a. arc necessary % our manufa lures; they
should 10" ir.o IN tho vessels Of an nations.
Such law will compel tho shipper to seek
the Amer 'au saip. thus securing % Us the har-
vost Of lost freghts and Of course forcing tho
reconstruction 9i our lost tonnage.
And further that this discriminating differ
enee IN the tax bill shall be maintained with
the understanding that Congress shall increase
or diminish the amounts Of difference when
deemed advisable. without dctrment 20 the
shpuuildorl ortwenty years. or until the ma
tional debt is paid. or until our tonnage equals
ia amount tAo present registered tonnage Of
Great Britain. And a. this the puDlIr faith
should 20" -olarny pledged. u order that cur
citizen, who invest thcIrcapttii IN -hipbuildmg.
may he ns-urel tha, this iuluc'mrnt o. invest
shall not p" taken from them b"ior, taoy are IN
% condition To- sustain thrmS Ives wiz. 10 the
/ ala ~ Congress. THIS additional section to the
turin Shout. h' PASSED by C-n-ro-- 0~ .Ion rs
| possible. tr the reason that tll- darrentiM