New-York tribune., 1880-10-30

THE DEMOCRATIC POLICY OF TARIFF FOR RIVE
NUE. ONLY WOULD DRAIN THE COUNTRY OF
GOLD AID DEFEAT RE'CMPrION.
To the EdttOr Of The Frt6une
SIR: The people have been convinced by
the discussion Of the tariff question that change
from the present Repub tariff TO the Democratic
tariff" for revenue only. that every person en-
gagged IN manufacturing must accept lower wages and
smaller profits.
The Intelligent. honest Democrat admits this a. the
result which would follow and says II is right and well
for the people that should be- sOfOr he says. those
who are manufacturers working in manufactures are
a comparatively small number Of tae whole
people and although caey will lose their capital and
wages the larger portion of the people viii De the gain
r a. they will pay less the article which is manu-
soctured abroad and brought into this country free OF
duty.
There i. however one point TO which desire 10 call
vour attention IN this connection winch have not
mentioned IN any paper speech Ii Is tins:
There are still S3i6 ,Ol6 of United States legal
tender notes circulation. II specie IL demanded for
these the Government must provide IT, OF confess Itself
bank
The Government has only Sl2776 734 in gold not
covered bv gold certificates with when ID pay these
notes when demand Is made.
To add 10 the emhar r.ssment. however these notes
NAV after having been paid IN specie be issued by
the Government again and second demand for specie
may thus made on the same note
It thus evident that the only why the note II
maintained nc par is the confidence the part
OF the people that the Government will always
he able 70 retain. obtain. specie enough redeem
these notes they may be called upon do
Now the ference IN the money value OF the exports
and imports OF all countries must be paid In specie
The difference last year paid specie this
try was about r7j 900 600 The difference this year
IN specie u IDou ril,uoOUoO
The Republican poucy or the past year and the cur
rent Of the present ycav has resulted IN br'gnz
from foreign countries about 81 100000 Ia specie
suppose the country should adopt he Donocr.tle
tarin for revenue Only' Does anyone pretend that
this country wou,d receive only the same value OF IN
| port ell goods under sac present systenf 80
No Will. This couD Try would De npOied WIN ior
en manufactured goods produced VITA chtap labor m
stead OF receiving O these goods IN specie Which
| r. could NOT be long before this change In trade
would mD0verlsh our manufacturers tnvn close thelr
| esfa bhshments aud after that tie CIT nee IN fhe
exports aud mpurts WOud he such that
cod Woud be steadily drawn out OF these CneG STATES
| instead of be- paid 10 them
| Then back Ia uS the difficulties aud trOa
bIes experienced Tore The Of specie pay
| ,nents hen The legal-tehafr note would again ha
worth some hpctuatlng amount between 3s cents and
| par. ,,
follows say nothing to the details OF tho retent
| tarih they mav be- rigAt wrong. desire 10 u,ll
attention % To be OF the inevitable
results Of the proposed Dem cric change IN the Drnc
| pie the bottom OF The present tarIn
IL the Democratic parry instead OF OPP sIng thr Rs
| sumption act had declared that legti-t -ttuder
when redeemed, should be cancelled ald dcstrUi
thrv might sistrnty have dee AIRED ~ favof
The lega ender and AT the sgme time virtual
trade policy Is only another indicatOn oi Dcmuers .
inconsistency short-sIgnt edness. Very trn
| NeW- York; Oct 70, 1880 EDWARD MtrciiLLL-