Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1882-09-08
TariRand wealth.

81. Louis Evening Cnronlcle, o.
In his remarks before the Tariff Com
mission at Detroit Mr.. Richard Hawley
of that city quoted the figures showing
the increase in the aggregate wealth
for the various decides from l830to
1890. In the FIRST decade Of this per od
-l830-l840-we had a high protective
tariff, and the per centage Of increase
was very small-35 per cent. In the
next-l84O-50-the protective features
Of the tariff we're materially modified,
and there was an important gain in
the ratio Of increase to so per cent.
In the succeeding decade-l8j0-6O-
we bad practical free trade-a tariff
based strictly on revenue-and there
was the unprecedented increase in the
aggregate wealth Of the country Of
1861 per eent-more than double that
Of any preceding tariff decade. In
1861 the Morrill, protective tariff was
established, and we have now had 20
years experience fit. Mr.. HaWley
did not comparet this with the increase
in the next decade-l860-70-as it
might be regarded as unfair to the
tariffs, q loss having been incurred in
that decade in consequence Of the
war and the disappearance Of
slave property. The increase of 1870
80, however, was a perfectly legiti-
mate and fair subject for comparison.
Il only STAINED the comparatively in
significant figure Of 81 per cent ac-
cording to the United States Census
and 81 per cent according to the figures
of Michael Mulhall, the most dis.
tinguished and careful statistician Of
Great Britain. The local tariff organ
in reporting Mr.. Hawley's remarks
breaks in here with this:
Commissioner Porter at this point
interrupted Mr.. HaWley and confused
him badly by calling his attention to
an error; that in bis estimates be had
not taken into consideration the fact
that in the personal property valuation
Of 1860 slaves were counted as prop
erty and in 1870 they we're not. This
would make a difference Of about
1900, 100000, Mr.. Porter also pointed
out another discrepancy, that the fig
ures Of 1880 we're on gold basis, and
those Of 1870 on a very much inflated
one"
An entirely disinterested reader
would imagine that there was more
reason in this incident for confusion on
the part Of Mr.. Porter than on that Of
Mr.. HaWley. The latter, in fact, had
been more than fair TO the tariff, as
we have shown in regard TO the loss
Occasioned by the disappearance Of
slave property. That loss took place
in the first decade of the tariff period
l86O-70-and Mr.. Hawley, alluding to
the circumstance, pufposeIy omitted
any comparison with that decade. But
suppose be had used it and made full
allowance for the loss OF slave prop.
erty. Mr.. Porter put the loss at
81 600, 10000. The total valuation in
1860 was in round numbers 49, ,000,.
900, including slave property. That OF
1870 was 10000, 600, 600, excluding slave
property. Add the slave property
and it is only 3lI billions, or an in
crease oil less than 100 per cent. Sub.
tract from this the discount on the
currency which prevailed in 1870, and
tho aggregate is reduced by at least g..
100000, 900, and the increase falls TO
about 70 per cent.
Mr.. Porter would have equal cause
for confusion in respect to the allow.
ance for discount as between 1870 and
1880. The discount would have re.
duced the aggregate for 1870 to about
5000, OOO,OOO and comparing this will
the returns OF the census ofl880 there
is an increase Of about IL, 1000, 900, 000
Or a percentage OF less than 49,.
We leave the widest possibl,
margins TO the advantage Of the tariff
and still the periods in which it pre-
vailed fall deplorably and ridiculously
behind the magnificent advance Of thu
free trade period.
Since the publication Of the oficia.
figures Of the census Of 1880 thes,
facts, comprehensive and complete AZ
they are, have been given 10 the pub
lic again aud again, and no tarifite haI
dared 10 either assail their substantial
correctness or defend the system o
protective robbery against the conclu
sion to which they unmistakably poin
THAT the tariff is a dead loss OF bill,
lions Of wealth 10 this country il
every decade during which it has beef
enforced.
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