Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-04-27
MEMPHIS APPEAL
PITY WE EvER Rad PROTECTION.

PITY WE EVLh HAO fhOb h3A 1AO%'-
When trade moves spontaneously from
within, supply proceeds according 10 the
demand and business is done as the public
need requires When there is interference
from without, the relations between supply
and demand become disturbed, and sooner or
later there is loss. Oar high tariff is such
disturbance. 1t has inducsd production on
which there is no profit, az in the case OF
sugar, where, in arranging The late revision
OF the tariff, the Louisiana sugar planters
declared that only by high tariff upon
sugar could they make a profit by planting;
or, by adding the proceeds that came through
taxation to the trade profit it stimulated
production, "a whisky stimulates the lAboFer
to an extraordinary eIertion OF strength.
In both cases the slimulant ends in exhaus-
tion and injury. In trade, the stimu-
liant Of protection has caused an increase OF
manufactures and machinery beyond what
simple demand would have brought about,
aud in the end the production, or the imple-
ments Of production, go beyond the demand,
and either loss must be endured or other
markets must be found for the product.
Those msIkel can be looked for only abroad,
the home demand being oyersupplied. The
d fliculty then arises that, high tarif haV-
ing induced nigh prices, the production can
not compete with foreign made goods in the
foreign market. These principles are now
fading their illustration in this county.
Iron has been one Of The special pets Of pro-
lection, and now iron is beginning 10 feel
strongly the effects of the wrong system by
which it has been stimulated. The mears
OF producing railroad bars is now double the.
demand for them. Pig-iron has just fallen
10 price 81 a ton, bringing the price,
which was S26 in January, 1880, down
to 500 ton. Dizziness of business is the
cause assigned for this last reduction. The
tariff could increase production, but it
could not increase the demand in proportion
to the production. Mr.. A. s. Hewitt now
says that the recent legislation OF Congress
"has had no effect whatever on the iron
trade, and the iron trade is the thermometer
of all trades in this country" and that the
cause Of the declins is the increase of the
capacity 10 produce pig-iron.hssing gone
beyond the capacity 10 cenaums h--thst IL.
the capacity to supply is beyond the de-
mand. "All pig.iron Dealers" be adds, "are
losing money, our firm ia losing money. The
Thomas Iron Company is losing money. We
are all selling out because we cannot afford
to hold. The weak firms must go 10 the
wall" The remedy suggested By Mr.. HeWIIt
il tnst the cost on raw materials be made
cheaper, there should be on tax on raw
material. He also Acknowledges that
"all trade il tending TO free trade, but
we must take time to work up 10 it." He
sees that the country is suffering from
protection, and that the quantity of protec-
tion must be diminished little By litllP, for
we can only patch up the industries until
they come down TO a normal basis. In con-
clusioD, he utters these significant words: SIT
is a pity we ever had protection" This is the
utterance Of protectionist, which makes it
the more significant, for Mr.. Hewitt pro-
tess: 81 am no fres-trsder, pure and simple,
either" but he Gays, 81 advocate tax for
the present on products, but no tax on raw
material" Mr.. Hewitt, though no free
trader, stands where all reformers OF the
tariff stand, He sees that il would be un-
wiss TO leap at bound from protection TO
free trade. The plant that has been nurtured
in the dollhouse cannot at once be taken from
Its shelter and exposed TO wind and storm
and cold; the process must be gradual.
The true principle of trade is
free trade; having strayed from the
best way, We must return cautiously
through the briars and swamps we have wan
d.red into, TO the right and safe way. Bat
although we cannot suddenly leave protec-
ton for tree trade, it remains none the less
true that sit is pity We ever had protec-
ton" All this indicates what Congress has
TO do. 1t must free raw material TO the ut
most extent the circumstances will allow. 1t
must reduce all exiravagsnt taxation, such
as l21 per cent. on glass, aud it must 30 far
reduce the tax upon materials not raw as to
enable the American manufacturer to pro-
duce his goods at as low price as they can
be purchased for in other markets.