The New York herald., 1879-08-11
The protectionist Revival i'm Europe.

| truth OF which is exemplifed in many ex-
| periences of life, and it is shown once
more. and on an uncommonly broad scale,
in the recent and very general revival OF
| protectonist legislation in Europe. Prince
Bismarck, finding the hard times pressing
upon the resources of the German people,
believes he sees remedy in revenue legis-
lation imposing heavier duties on foreign
products and manufactures. The French,
burdened with a heavy war debt and I'M
poverished by the maintenance of huge
standing army, are also looking to higher
duties on imports to ''protect" their home
industries and make them more prosperous.
The English, even, imagine they see in
more severe and excluding tariffs a remedy
for the agricultural distress and the de-
preston of manufactures which have over
taken them.
Their complaint, in every case, lies
against US. American -four, American beef
American tools, American machinery
American notions, American products of
various kinds in increasing amounts find
their way into European markets, and
either because they are cheaper, or because
they are better, or for both reasons, are pre-
ferred by the people. to the loss, it is said,
of home producers, who are already work
ing upon such narrow margins of profit and
for such low wages that they cannot COM
pete with us in their own markets, unless
they are protected" by duties on our impor-
tations. The matter has, therefore. direct
interest to us. The question, How are we
to be affected by such legislation is one at
least worth the glance we propose to give it.
What would be the consequence for us if
the three greatest nations in Europe should
conclude to adopt tariffs. not, to be sure,
entirely excluding our products, but laying
upon them heavy duties, such as we
have chosen TO lay upon theirs for
many years? In the first place, it
is evident that so far as such tariffs should
affect breadstuffs, meats, food in general,
almost all, though not all, the additional
duty or tax would be paid by the con-
sumers and not by us, the producers. They
must have the food of which we have an
over-abundance, and they will buy Of US
to the extent of their necessities, not Of
course at any price we may fix. but at q
price which will tempt us to carry it to their
doors. With heavy duties, which mean
high prices, they will consume less. and by
so much lessen the demand. and by con-
sequence lower the price We shall receive;
but that price must always leave us some
margin Of profit, else we should not ship
to them. Dear bread, however, is SO great
and threatening calamity in the three
countries of which we speak, that it is ex-
tremely doubtful whether high or protec-
zionist tariff on food supplies will be toll
Grated by their people. The artisans of
England for instance, would not consent
to dear bread in order that the landlords
might once more get high rents.
1t happens, however, that the bulk of our
exports to Europe consists Of food; and
while the European demand for the neces-
saries OF life varies from year to year, ac-
cording as the crops are abundant or the
reverse there, long experience shows that
this demand upon us is constant, though
variable in amount. Some part OF our over
abundance they always need; and that they
must buy of us, tariff no tariff OF
manufactures wo sell, as yet, but trifiing
amounts to Europe. Our exports OF
manufactured products to that con-
tinent would not attract serious
attention there were it not that
their markets are already glutted. To ex-
clude us by high tariffs would only compel
us to seek other markets. which European
tariffs would materially help us to secure.
Prince Bismarcks tariff is intended to pro-
tect his own people against our competition.
We sell too cheap for them; he makes laws
to enable them to secure higher prices for
their home products. But if We already
sell too cheaply, if it is true that they cam
not compete with us in their own markets,
then undoubtedly they cannot, with the
higher prices they mean to ask, compete
with us in markets foreign to both coun-
tries. uaa
That is to say protective tariff in Ger
many, while it will raise prices in that
country, which will be loss to the Ger
mans, must Mt the same time tend to ex-
clude them from or at least to place them at
greater disadvantage in foreign markets as
compared with us. They shut themselves
up; they shut us out. They compel us to
seek other markets, but at the same time
they measurably abandon those markets to
us; and of that we need not complain. If a
German tariff shall enable us to re-establish
ourselves in the markets of South and Gen.
trail America, for instance, where now Ger
man goods exclude our own, we may be
content.
II is difficult, then, to see how the revi-
val of the protectionist spirit in Europe
can seriously threaten our prosperity. But
it is yet more difficult to see how it is going
to help such States as Germany or England.
Their people are poor, and here is legisla-
ton proposed which is to raise for them
the prices they must pay for what they