New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-03-31
bu, very dangerous to the immediate welfare of SO
LACK OF EMPLOYMENT FOR LABOR.


duties At that time have added to the army OF u
employed Iaborers bad times tariff reform is not
possible; because Of the suffering which - pro
maud for labor ia slack. 1t ia only in good times
tat we car attack ne p2o sd Sr must he So made
not to cripple or interfere with any cOhhucrnpe GA
istng interest We must therefore proceed slowly so ns
not 10 interfere with the occupations OF people, au
locate industry so such Gn extent that men are colnpeu
to seek new So 0oSPS9n o 9aI Ses hsppened in Ger
many where the new revenue systeln OF higny prvS
OF business reduced whole towns TO condition OF
restitution An lowering che duties womb 10 careful
other hand. II reforms are not introduced we come
upon another condition Of affairs which Is even worse
than the winch desire 10 avoid. That condIuOn
of affairs Syringe from over.producuon--t Is IRON
the production OF articles which the world wants onI
revenue stem, shutting us up as II we were gGneu
binb @ o fnd whenever by good harvests
abroad shall longer have foreign market Tor the
surplus products Of farms and our plantations In
distant AID IL IA for that reason that rear ue uei9
which will be inevitable II action upon the taln ~ 10 DC
poned until we get the report OF any commission no
matter how constituted When the Eaton bi was lhlrO-
duced two years ago. willing to accept it, because
we were chen at tho outset of Of prosperity,
which felt would last long enough FOR the COM
mission To report, and for legislative action 10 10 heD
But now the time for "A commission has passed BY 1hen
had begun enjoy the fruits OF concurrence OF Ia,
vorbe conditions such a. have never eAs'eu O'ioe III
the history OF this or any other country
CAUSES OF PROSPERITY.
For six years between 1873 ami 1879 the country had
been ecUnOmiZng its resources and paying its dcDts III
was period of the srcest economy public and private,
and of the accumulation Of capital in the shape OF con-
vertible assets The transfer of floating into fixed
CAPT, al had practically ceased. 1t period OF III
cubation and of recuperaton The resources OF the
country had been oyerstraped ana eMSIea py e
convertible paper o1rIehy ~, Wh II g'"C w
TEN The reaction was necessarily severe. 1t
did not and could not cease until the currency was
placed the solid basis OF conyerllply INTO gou' the
uuly rsalS standard OF
This restoration of the currency OF nSen SET Tree as
money and added 10 its available stock, all the
uaon OF the precious metals the Treasury, which be-
fore lad been dormant as II they were sr Locked UP
in the whence they had been extracted me free
Ing of 600 Of coin before denied outlet mo
the channels OF commerce would alone have been sum
confidence and give new lie 10 She oheI
ges of the people But contemp0raneous WIN tle re
sumption of spc lie pa mens, ana preceding IL ioi sur
fcient time 10 MAKE resumption oo tno
OF famine in Europe ana OF abuiuahGe III ,ie Ointcu
States, whereby the balance OF uadt so onG was
were enabled pay of ali our floating obligations
largely to reduce our PERI anent debt 70 I %
draw from Europe vast sum II aetna. Specie III
80, s53594; in 1850. s5i2S92s4 cd IA a, ISL
month of J4nIary 1882 when the tide turned AID The
outward current has set i'll. Besides tDls great aoOn
tire production gold aud silver mines, amounting
in tie same period to over $2OCO00OOO, naAnS tot..
addition in three years to one billion ana CON reserves
Besides such causes these there was anothe: ee-
ment regard TO which previous experience cAlscu
and which added the net prois OF our foreign Txde
amount which has not Deeh Sstlateu, ana wiiJ s'
iransnoriaon caused by the substitution steel Tor
iron rails and the general introduction OF screw pro
peIers and compound engines mo ocean steamers
lhe economy OF these improvements haS INJURED
and the reduction cost has been added TO the TOhs
of the producers upon TINS side OF the
ocean, while they have not been OF corresponding al
vantage TO the countries who compete with us Tor sup
plying the nations o. afTPe %1 1cI
which had, by invention and experience been teducsu
he Of transportation that WITHIN years the
charges of carrying gram co. nav co,, oge zen
ton per mile during the recent railroad
war In the same manner me cost o. ocean .
A. 10 pence in 1881 for busAei estimated TO Wegh 90
DIS The whole Of this TeauSS N l9 cost o. [aas
and ba. been added to the wealth OF the United states
ana this has happened because the unusual scarcity OF
food Europe has afforded an adequate market ior our
entire surplus. estimate that the sum thus added to our
including the saving on domestic G9nspmpton than me
TO foreign countries.
WHAT WE OWE - a GREAT INVENTION.
TO sir Henry Bcssemer chiefly and to our lately de-
ceased countryman Alexander Lyman Holey. who per
fected Bessemere invention, do these vast re-
suits which are rapidly changing the face Of society
the strOD gAols of privilege and monopoly
and will ultimately transfer the pIimacy of industry
from the European TO the American Conlhent ulcss We
rnct the course of nature by artificial lmpcdments
and unwise legislation The result O TINS ea lhNel-
ton already TO be seen ana icy N the au & m %
in Ireland, scotland ana EuSahu certain 10 emu III Wy
downfall the arstocra ic systen ana the transfer OF
equitable conditions TO the actual cuitlNatOrs
Oi the soil Wren TINS Is accomplished tue inarel U
profit realized from suppyi Europe win lood WI
be reduced and this curtailmeut o. profit We must
prepare by making the conditions and cost OF production
more favorable than they are now.
Now. the result OF the CESSATION o. !hc CI+ Vl He
preston sta natiOn. rest and recuperaon wnch 1ui
lowed the panic of 1873, ana OF the revival Oh business
due TO the substitution Of GOOD money FOR bad nuney-o
the concurrence OF Unlimited markets or or
food products with the chenpeDns Of transportation
duo to the application vi and most ocnccent inven
TONS Of when able to appropriate the hrst ana
fiouW viii Ia
years, thus restoring an element OF CROWN anu pros
perity which had been abeent for time me number
250565; in 1850 593 700; in 1881 72ool5 making
total in three years of nearly 100000 persons.
the tnis addition TO our population consists {"
hardy, frugal and industrious ciass VINO 60 mr. 20
the land and aid ~ producing we n1uucIa WaarT We
sell abroad. They have thus enaDed us iacucaiv 10
reap the prOtt which mas made the revival o. busl
ness in this country poaslbhly ana really iiey
have brought " not only bone and snew ana muscle,
is estimated to have exceeded 500 000OO0; and ever
a human beng Ia the prime Of life had market value
oTer e b. Tie mgns Who
reached shores in single year II Is estimated ny
creases, az ts p eIgn' itd atrs contriSnes abont
900 with each revolution OF the sun bat tins III
upop our having Iul employ nent Tor our labor Ia chan
ntls where il Is usoiully bestowed
BOW TO INSURE PROSPERITY
have entered into This exhaustive analysis of the
causes which lave produced the improved and sasfac
tory condition OF business in order to demonstrate my
second proposition which is that the existing tariff has
been as pOweress prodGce the prosperity we now en-
Joy as 10 prevent the depression OF business irom
which, happily emerged IN 1879, which 1t then served
TO ag1avate by denying to foreign markets for
our manufactured PRODUCTS, la spite OF the ta1D, and
not because Of H. we alone OF al nations OF the word can
be said 10 be prosperous condition To insure the
continuance OF this prosperity If the first and highest
duly OF craftsmanship When things are well ana likely
10 continue well queta mOverc is the safest rule OF
But il detect the clouds which
precede storm III the industrial world tnen II Is our
provide against tic coming dangers ana toaVer
as lar as can, disastrous consequences from the
lresides who sent here 20 protect the
present and provide for the future welfare OF the