New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-09-07
TARIFF AND CURRENCY.
THEIR INFLUENCE ON TRADE AND LABOR
ADDRESS OF GALUsHA A. GRow-wHAr LABOR
LosEs THROUGH CHEAP MONEY.

he said "a TO the strength OF the Prohbtonjss tina
$4,000 votes seemed to him outside estimate. III
carefully examined the feeling on the prohibition
question and he was right His speech wat
heard with deep attention by large audience.
Mr.. Grow spoke in part follows Never have
labor and industries been threatened with more dis
S macy at the ssH last Tr
and currency the two subjects OF Legislation wnot
Influence each reaches the most minute transactions 10
business at home, and In trade with the nations. A
wholly orn great part the paid labor OF foreign
countries. protective tarin gives the supplying OF
tine home market wholly in great part to home labor
The opponents of protective policy give as reason
for their opposition that duty upon an a,tce ennanoe
in case of protected article, 1t Is bounty to the pro-
Queer OF the article at the expense o, Ins con
quantity OF an article imported, and muluplles 1t by
the duty imposed and claims the result as sae
Even admitting that duty on protected article en-
whole OF duty is protective i is only the
last few cents dollars the be- that Is pro-
tecve Say the cntua cost OF foreign article In our
market is 10 cents. and TO produce like article In this
country would 10 cents In such case, nDess the
less duty :han cents would leave the control of our
market to the foreign article. duty that does not
make the foreign article cost in our market what IL
costs TO produce it this country IA not roteotive
for the foreign article would sell at the same price with
or without such duty The foreigner IN all cases sells
in market at our market price even enough ne
by what II costs to produce the article -
While a protective duty does not necessarily increase
!
home competition, and gives TO the home article an
enlarged markets that the increased production from
the same plant and the development OF greater skill and
economy by reason OF sharp eompetllon Is cohstaty
lessening the market price OF the home article
pt,ces vet how mucn anncTeascd demand may
the price OF an article depends other things being equal
home capacty to supply the demand in a time is
sufficient In the opinion of the purchaser then no
increased but little If any, The only reason for an
Increased price simply because OF an increased demand
sfptD lac M
may be unable TO get che Article when he wants H. ana
so he Is willing to pay Inc pTIce sptcc ,eo
worth when there great demand Tor II than
when the demand IS small II Ie Cos. Vi % m , 70
the OF production That being The same the dealer
Because the Of scarcity on the part of the
purchaser Take away that apI rshensOn by an existing
home capacity supply, ana prevents much any,
increase in price By increased demand. foreign
capacity supply, however, has no such influence upon
oTeases market price which Will continue long the
demand continues no whether the oost Of produo
paring prices under the two kinds OF tariArevenue
and protective Take the last twelve years OF Yur last
revenue tariff. ending June 80, 1850, ana the last
twelve years Of the protective tari ending june 80,
lss5-the first passed by the Democratic party. tue
o.her by The Republican Iary' me years Oh lhe war;
and following until the business OF the country
returned TO about its normal condition. are omitted from
this comparison Tor obvious reasons Inc Twelve years
OF protective tari show steady reduction 10 prices,
1885, 81. 50 and 49, OF greatly Increased demand by
reason OF Increases railroad building In these -FOUR
than three times as much as in any other IKE period.
I'm these four the price, Notwithstanding inc
very large increasing demand, was very little greater
than average price for the twelve years; and the
highest price IN these four years was less an the
Irice tor the article the first year OF the twelve
This comparison in business OF all equal number OF
years under revenue and protective tarl shows that
years OF revenue policy Instead OF being less than tho
first year was greater; while for the me lumber OF
price OF each OF these articles much less than 1t Was
the first year. SO the theory OF the protectionis Is
all NM IL
business. Under the revenue tariff our market was
dependent on foreign capacity to supply Increased
demand Under the protective tariff market not
dependent on foreign aIacty TO supply Increased
demand; hence the difference In Iesuis
PRICES NOT REDUCED By REVENUE TARIFF.
But it may be said that this comparison proves
nothing the general condition OF the country
greatly different IN tho periods. that DO admitted
does not change the great and significant fact that
the prices of these articles. under revenue tariff for
twelve years. much II at ALL reduced in market
length of time under protective tarih we're
at the end OF twelve years almost onehalf and
one rails sold FOR onefouth as much as they sold
for at the beginning Of the twelve years.
Another fact Is established by tli5 comparison, as
proof. aud that Is that under revenue tarh Largely
largely over the average for series OF years;
while under protective tariff like Increased demand:
at ALL the price for Ike series OF years.
Another fact Is established by THIS comparison, ana
that Is that increased demand will ada much, If
ANYTHING to market price Of article II there is
home capacity sumo emit or nearly SO, to supply the
ncToased In that case e Price Of the article viii 10
Increased whether there Is increased demand or not
And above ALL this comparison efectually eXplO1es
the tsllacy that dnty on protected article which
necessarily enhances the price TO the consumer.
PROTECTION BENEFITS LABOR.
Two reasons are given by the Democratic party for It's
persistent attempt to change the tariff, by which the
of country ia constantly disturbed and its
successful prosecution greatly retarded. The first
is desire to destroy the protective features
the tarin by lessenng aud in cases repeating
admit larger importation OF foreign products thereby
essening the production OF like home produets which
and 10 the general prosperity Of the country
Full employment at fair wages OF the eutire labor OF
most national wealth. Legislation cannot fix directly
he of labor But can By fostering Industries 10
the development OF natural resources, give home
labor the supplying OF the home market and thus affect
directly the price OF labor engaged IN such industries
Taril legislation is the only legislation that can benefit
labor in its competition with the poorly paid labor OF
other countries strike from the arf all Its protective
features and the laborers OF this country must then
stand unaded and alone in their competition with that
labor the world where homeless poverty sole
Inheritance OF the sons OF toll.
The other OF the Democratic party for insisting
on a reduction OF duties is that the Gverrment has too
much How Is 1t possible FOR Government |
tat debt Of thousand millions OF dollars
to have too much revenue until the debt paid Would
any consider 1t wise Tor a farmer who has large
mortgage his farm to refuse to raise crops thereon
because he has already too much ucome WOnld that
be any greater folly than for Government 10 reduce its
revenues which arc not burdensomo to the people or
Injurious To- their industries until rs bearing
debt is paid The sooner the debt is paid the less
absorbed IN interest Paying tie debt OF the
Nation its would permit, without
being burdensome 10 its industries, Is adding to tho
value OF everybOdys property either for In the
lifetime of the pOssesSOT for requests 10 children
A protective tarin that builds mp our Industries by
material wealth. the greatest all aids
In pay ing the national debt
DEMOCRATS FOR FREE TRADE
The practice OF tho Democ. attic party In fostering
American industries is. II possible worse than their
theories. The Democratic majority OF the COMMITTEES OF
Ways aud Means at the last session Of Congress reported
Tariff bill which, In addition to its other bad features
placed wool the free list The valuation of tbe Imnor
aiiOn OF that article last year $9,47I ,2G9 81.
Lumber also was included IN The free list The valuation
)f the importation OF that article last wear was !
s6953,l95 90. OF both these articles the valuation