New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-07-19
THE LETTER.
AUGUSTA, Me-, Jul


The Hon. John B. Henderson and Others oftte Commit
tee. etc., etc.
| GENTLEMEN: In accepting the nomination for the
| Presidency rendered me by the Republican National
! Convention beg to express deep sense of the
honor which is conferred and Of the duty which is
| imposed | venture to accompany the acceptance
with some observations upon the questions involved
! in the contest-Guestions whose settlement NAV
! affect the future of the Nation favorably or un-
| favorahly for q long series of years.
| In enumerating the issues upon which the Re
| publican party appeals for popular support. the
Convention has been singularly explicit and feici
ous. Ii has properly given the leading position to
the Industrial interests of the country affected by
the tarif on imports. On that question tie two
political parties radically in conflict. Almost
the first act of the Republicans, when they came
into power in 1861. was the establishment Of the
principle of Protection to American labor aud to
American capital. This principle the Republican
party has ever nee steadily maintained. while
the other hand the Democratic party in Congress
has for fifty years persStcntly warred upon 1t.
Twice within that period our opponent. have de-
sroyed tariffs ranged for Protection, and since tho
close of the civil war. whenever they have con
troed the House of Representatives, hostile lcgsla
ton has been attempted never moro conspcuously
than in their principal measure at the late session of
Congress.
THE TARIFF QUESTION
Revenue laws are in their very nature subject to
frequent revision IN order that they may he adapted
to changes and notifications of trade The Rcpub-
lean party IS not concnding for the pcrmanency Of
any particular statute. The issue between the two
parties does not have reference 10 specific law. Ii
il, far broader and far deeper. 1t involves princ-
pie of wide application aud bcnciccnt influence
against theory which we believe to b. unsound in
conception and inevitably hurtful in practice. In
the many tariff revision which have been necessary
for the past twcny-three years, or which may here
aftcr become necessary, the Republican party has
maintained and will maintain the policy of Pro;ec
tion 10 American industry. while our opponents in
sis, upon "a revision, which practically destroys that
policy The issue is thus distinct, well defined and
unavoidab,c Tho pending election may determine
the fate OF Protection for 'neration. The over
throw of the policy means large and permanent
reduction in the wages of the American aborer, be
sides involving the loss Of vast amounts OF Ancrl.
can capital invested IN manufacturing enterprises.
The value of the present reyenuc system TO the
people of the United States is not "A matter of
theory. and shall submit no argument to sustain
1t. | only invite attention to certain facts of
official record which seem TO constitute a demon
straton.
In the Census of 1850 an effort was made, for tho
-
the property in the United States. The attempt
was in large degree unsuccessful. Partly from lack
of time, partly from prejudice among many who
thought the inquiries foreshadowed a new scheme
of taxation the returns were incomplete and I'M
satisfactory. Little more WAS d0ne than to con-
sodate the local valuation used in the States for
purposes of assessment, and that as every one
knows differs widely from a complete exhibit of all
the property.
In the Census Of 1860, however the work was
done with great thOroughness the distinction be
tween assessed" value and "true" value being
carefully observed The grand result was that the
true valne" of all the property In the States and
Territories (eYcluding slaves amounted to fourteen
thousand millions of dollars $4,000. .0OO,OOO).
This aggregate was the net result of the labor and
the savings of all the people within the area OF tho
United States from the time the first British colon
ist landed in 1907 down to the year 1860 1t repre-
sented the fruit of the toll of two hundred aud hity
years.
After 1850 the business of the country was en-
couraged and developed by Protective Tariff At
the end of twenty years the total property of the
United States as returne by the Census of 1880.
amounted to the enormous aggregate of forty-fOur
thousand millions OF dollars Gji4 000. 600 O00l.
This great result was attained, notwithstanding the
fact that countless millions had In the interval been
wasted in the progress of bloody war. 1t thus ap
pears that while our population between 1850 and
1850 increased 80 per cent the aggregate property
of the country increased 2l4 per cent-showing
vastly enhanced wealth per capitd among the people
Thirty thousand millions of dollars (S30,OOO.-
600 900 had been added during these twenty years
to the permanent wealth of the Nation.
These results regarded by the older Nations OF