The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1884-02-09
Political Economy and the Influence of
the LiGu0p Traffic.


Gen. Neal Dow addressed fine audience on
the above subject in the Mechanics free
course last night. Mr.. Dow said the drift of
his lecture was to show that a wise protection
to our own industries is in the highest interest
of the country and of all classes in the COM
munity. He took special pains to show by
many facts and illustrations, that protection
was not established originally in any sense in
the interest of any class of the community,
but solely in the interest of the nation.
Political economy is to the country what
domestic economy is to the family; it is to
make the income larger than the outgo, in the
nation as well as with the individual and the
family The purpose of protection to our own
industries is to give employment to our own
people and to save our money at home, which
without such protection would go abroad to
pay foreign workmen for the many manufac-
lures consumed among us. This view he en-
forced by many illustrations The effect of
protection is to give our people diversified en-
ployment and to make us, as a nation, self
supporting, Independent of other nations in
peace and in war. This point he also enforced
by many illustrations, showing what the con-
dition of the country was in this respect be-
fore the adoption of the policy of protection,
and what it has been since and what it is now.
Before the adoption of this policy, said the
speaker, the balance of trade was always and
largely against this country, while under it
the balance of trade is always largely in our
favor. This effect upon the wealth and
prosperity of the country is precisely as it
ho in4 ho condition ~ n foxo 10 NH
expenditures were larger than its income on
the one hand, or the income larger than the
outgo. Under the policy of protection our
country has been increasing in population,
wealth, and power, more rapidly than any
other nation has ever done Within the ra nge
of history.
The speaker illustrated the effect of DIVERSE
fed industries upon the wealth and prosperity
of country, by reference to the two parties in
this country during the late unpleasantness.
Our hasty and impetuous brethren of the
South had no varied industries; they did not
favor protection; they had no manufactures;
they produced cotton, tobacco, sugar, rices
but nothing which would enable them to carry
out their purposes. They were obliged to
purchase everything needed in war and also
for the commonest domestic comforts and me-
cessities. Consequently they were speedily
exhausted OF everything except their indom-
liable pluck and perseverance. The North,
Oil tu6 contrary was never more prosperous
than when its expenditures was at the highest
point, because the money expended was al
ways among our own people. while the money
of the South went abroad for the purchase OF
everything necessary to keep an army ia the
field.
= England is particularly anxious that we
should adopt her trade. Her warehouses are
now full of manufactured goods, anxiously
seeking market. There is none now, that is
not already supplied. Our market is the larg-
est in the world, and if the English
could obtain possession of it, their great
stocks of goods now on hand would be immedi-
ately sent to as. and all her founderies, furnace
es and mills would be running night and day
to supply the enormous demand from this
country, while our mills and furnaces would
be closed, and our people thrown out of en-
ployment. An English manufacturer, two
years ago. made tour of our factories, and on
his return, in a letter in Manchester paper,
hesaid that with free trade, the English manu-
facturers would shut up every cotton mill in
America in two years.
Mr.. Dow denied the truth OF the assertion,
that under protection, our people pay higher
prices for the neceSsarieS and comforts of life,
and he showed by many illustrations, that gen.
orally, prices for all the needs of common life
were lower, except farm products, which had
been increased in price by the policy of protec-
ton, SO that there was no class of our people
more benefited by it, than the tillers OF the
soil.
Mr.. DOW said no lecture upon political econ
my would be complete, that did not include
consideration of the effect of the liquor traffic
upon the wealth and industries of the country,
and the prosperity and happiness of the people.
The liquor trade is far greater than any other
in the country, employing far more capital
and involving far greater expenditure. But
this trade creates no wealth, it earns nothing,
it lives upon the earnings of other people. 1t
contributes nothing in any way to the common
stock OF good, but on the contrary, the power
ty. pauperism, crime, insanity, and wretched-
ness of the country are mainly produced by it.
1t wastes the wages of labor, the health and
lives of the people, and converts good citizens
into beggars, thieves and tramps All these
points he illustrated insmany ways. While the
influence of other trades is to create wealth,
that of the liquor trade is like war and cen.
fagration, to destroy the wealth earned by
honest industry.