The Aberdeen examiner. [volume] (Aberdeen, Miss.) 1866-current, 1883-03-01

80
for the tariff OF 1924 was a tariff O.
unqualified protection" and tina
OF 1928 was the we'll known bill
Nominations.
I must say, however, that the
picture drawn by Mr. Clay and quoted
by the Senator, Of the unexampled
prosperity Of that period was little
too bright with the tints OF oratory
and rhetoric. In the sober colors OF
historical statement the effect is
somewhat subdued
So, sir, it apears that dnring this
period Of high.tariff protection dis.
tress to an unusual degree prevailed
among the cotton manufactures in
1929; that the wooden interests were
suffering then, as in 1927, under
"the severest depression and that
in 1928 the iron interests we're Tin an
equally depressed condition"
Another fact worthy of considera-
ton is that in that period of hiFk
protection our foreign tonnage stead
lily de 'ased, and at the end OF the
period had fallen off thousands 4
tons; our coasting tonnage fell off
still more. Its effects upon the ca
pacity Of our manufacturers to meet
the competition Of foreign countries
were still more marked. During
that same period our exports Of
American manufactures defined
steadily to the close. It is also true,
sir, that if in this period prosperity
bloomtd around the manufacturing
sections adversely brooded over
others. Here is picture not at at.
tractive as Mr.. Clay's, but quite as
graphic and more true to fact.
Mr.. Calhoun says:
"Dessolation spread itself over the en-
tire staple region its commercial cities
were dessolated; Charleston parted with
busy streets. The political condition Of
the country presented prospect not less
dreary-a deep and growing conflict be-
tween the two great sections agitated
the whole country and vast revenue
beyond its most extravagant wants gave
and power which were rapidly changing
the character of the Government and
spreading corruption far and wide thro'
every condition Of society,""
Sir, il manufactures could not
prosper during that period their case
would indeed be hopeless one; With
seven years OF embargo and war, free
from all foreign competition, nine
more Of protection, ten moro OF ex.
treme protection, certainly, sir, they
had an opportunity to lay the feun-
lations OF their prosperity broad
and deep.
1888 1847
The Senator from Maine says the
period from 1888 to 1S47 was one
II free trade and adversely. It was
period Of compromise, Of progress
i've reduction from protective to rev.
snue duties. What I mean is that
he compro mise act which passed in
1888 provided that all duties on im>
ports exceeding 20 per cent. on the
value thereof should be reduced
.fter the 31st Of December following
,ne-tenth OF the excess above 20 per
,ent. and that like reduction should
De made every second year until 1841,
when one-half Of the excess remain
ne should be taken off and the re,
naming half after the 3Oth of June,
lS42. But the effect OF the lower
n revenue standard of duties was
never tested, for the compromise act
vas repealed in 1912.
This has been designated also az q
period of adversely. Mr.. President,
here are many who have insisted
hat even in spite OF the financial
roubles which grew out of disor.
Tered currency during that period,
.griculture, manufactures, and COM
nerce all made greater progress un-
Ter the compromise act than thew
lid under the high prot &c i've Tariffs
# 1924 and 1928. I do not make
his assertion myself, for my purpose
not TO show that manufactures
were more or less prosperous at my
me period than at another, but that
hey we're able to maintain Them
selves equally with other industries
Vt the same time I must say that
here are some striking fncts in sup
port of their assertion. hive men>
lone that the tonnage fell of under
the tariff acts Of 1924 and 1928 very
largely, and tho exports OF mauufac-
tured products also decreased. I'm.
der the compromise tariff the ton.
mage at once began to increase until
at the close Of the period it had
nearly doubled itself. M
The exports Of domestic products
also increased under the compromise
tariff, and though checked by the f.
nancial embarrassments of 1886 and
1887, yet in nine y as Il Q export, Of
American manufactures greatly in
creased, such was the effect OF low
duties in enlarging the market for
our manufactured products and in-
fusing into our manufacturing indus
tries the vigor to compete in foreign
u1AhCbos uuA tuO potuo wan tIuo VI
our agricultural interests.
Under this system Of progressive
reduction new factories we're spring.
ing up over the country and old ones
undergoing large extensions. I can
not take up the time of the Senate in
reading the account Of them as given
by this history. I may avail myself
of the privilege accorded me to APPS
pend short synopsis Of the most
important. 7iaf.1 .s..
I leave this period with the single
remark that Notwithstanding the
depressions consequent upon the f.
nancial panic Of 1887, manufacturing
industry under the operation Of this
compromise tariff whether you style
it free trade or protection) had be-
come vigorous, expanded, and capable
of en-! ering on equal terms the field
of universal competition.
1843- 1847. eFl
From 1912 to I847 the Senator
says was the period OF protection
and prosperity. The tariff Of 1912