Daily Republican., 1880-10-20
Tho Cause Of HARD rimes.

History Of Tariff Leg islation from 1aEG
the present. Ia 1874 the saSiT
vas increased TO 35 per osnf. on shw
iotai Imports OF march handise, disorSzs--
inating 10 favor OF Protection to "-ausr-
can Industries" The result was m
period Of great prosperity specie Ro~l *
o this country from all parts OF shss
#orld. In pursuance of the same rolisy
he Tariff was further increased ON
some articles in 1929, bringing sAs
average up to 81 per cent. The Srin-
'ipal opposition to a protective ta,fM
thsn, as now, comes from the sOash.
This became so yiolent-threasenin
1isunion II their wishes were not aSoe-
ded to-that in 1888 the Tariff was re-
duced to an average of is per sens.,
and changed to a revenue tariff, tRs.
act providing for further reduction
each succeeding year.The annual impor
tations OF merchandise nearly doubled
in the following three years, without q
corresponding increase in the expors8..
The balance of trade against the United
which for more than ton years had
been little OF none, now amounted to
over S92, 900, 900 in three years aboya
mentioned. Then came hard times,
commencing in May, 1887, with shs,
numerous failures and fearful suffering
resulting therefrom continuing sorn8
i've or ak years, and only exceeded by
our more recent experience. In 1892
tbs Tariff was restored to one for pro
tsetion and increased to 25a per oant.
average on the total imporss Of meg
chandise; 1t was slightly reduced In
ls46 and changed to a tariff for revenue
with incidental protection. In 1857 d
large reduction was again made i'm
the Spring, bringing the average to rs
per cent. The effect was the same M
before, only quicker. The facilities of
transportation having increased, the
balance of trade against MS was nearly
$50, ,00O, 900 in the FIRST six menths
after this large reduction. Hard times
commenced in September, 1857, and
continued with more or less rigor ur
to and after the commencement Of tlsm
war. During the war the Tariff wae.
increased to an average of43 per cent;
in 1870 1t was redooed to 3S per osrs.,
and in 1879 it " ss further reduced AZ
81 per cent. The large reductions, al
though the tariff was still left esmpav-
stively high, were followed as wsre
eask Of the previous ones BY immense
increase Of fimportations, and the bas-
anoe of trade against us beyond all prs
vious periods: hard times commsncins
in September 1873, from the effects On
which the country is just recovering.
"History repeats itself," is a trzss
aging fully confirmed by the rssntas
# our tarifflegislation. II blind mann
sads blind man both will fall into tlsse
litch." Countryman, You whoaye en-
aged In the various departments. g1e
he great industries whioir ars fkss Z,
oundation Of our prosperity and h@p.4 !.
,iness, examine thske facts Of eRx
history and let not partisan blindmrsEY
70 80 intense, as 10 cause you to vaas
ontrary to your own interests. A vc&e
ast for the party which advocates g.
tariff Tor rererEe only" is virtually
ast in favor Of hard times If history,
J any guide, the hard times to be rso-
eated whenever the tariff requires re-
uotion to suit the revenue; if ths raau
citing for the policy were the only sus-
'rers they could not complain, anla
Tiers aould rot. The three periaiaa-
leHtioned embrace the only laYgs ywL
ustions and changes oftariF fer revanns
! fifty years; and they immediately
rscsded the only hard times in ffsv
ears; it is therefore the strongest pass-
bls confirmation that hard times have
Der caused by them. The Hon. Jas.
Of Delaware, voted Ssr ssss~
'ood tariff bill, Democratic tariff Hars,
venue only. This Hon. J. W.. H0ass-
n Is well known to be in favor ofa
'otective tariff such Is We now haxa.
I'd that Is the only kind. to make sss-
ire the grFat object Of our Repnk&s-
n institutions, "Ths enjoyment gE
70, liberty and tie parauit of haR-
ness."