Waterbury evening Democrat., 1888-06-25
MONDAY, JUNE 25, 1888.
Democratic Nominations,
THE WHOLE THING IN A NUTSHELL

THE WHOLE THING IN A NUTSHELL.
 The country's history under high and low tariff is interesting, and Thomas G Shearman presents some facts for consider ation that it will pay all to study. He says:
 17S9. Abolition of all interstate tariffs and reduction of state tariffs on foreign goods, followed by rapid increase of pros perity. -.-
 1908. Absolute prohibition of all inn portations, followed by universal disaster.
 1909. Repeal of prohibition, followed by renewal of prosperity.
 1872 The tariff doubled, and all i'm portations stopped by the war. Result, hard times over the whole country; gen eral suspension of banks, and snch suffer in New England, that secession was threatened.
 1885, A gradual reduction of the tariff :, leaving it still so high that an enormous surplus accumulated in the treasury, which was distributed among the states in 1887. This distribution was immediately followed by the famous panic of 1887, which was the direct result of wild land speculation all over the country, brought about largely ly the surplus.
 1S42. Protective tariff restored, fol- lowed by one year Q843) of the greatest stagnation of business ever known; while during the whole existence of this tariff, bo1f from what they had been after the panic of 1887, and wheat, corn and cotton sold at prices disastrous to farmers and plan ters.
 1S46. The tariff cut down by almost one third to one half Result, an immense increase in commerce and shipping a rapid increase in manufactures, unprecedented prosperity in agriculture, aud the most rapid advance in wages ever known in the history of the country before or since.
 1864. Tariff raised 50 per cent. Manu facturers made fortunes for three years. Wages, in gold, lower than ever.
 1867. Great increase in tariff on wool. Result, immediate slaughter of 400, ,OOO sheep, reduction of wool product, and ruin of many wollen factories. The years 1867, 1868 and 1869 were periods of great depressions in business and especially in manufactures In 1868 the pro- tectionists themselves declared that there were more unemployed workmen than had ever been known before. ...
 1870. Slight reduction in the tariff and considerable reduction in taxation gener ally. As result, business improved con siderably. But, the tariff being still main tained in all it's protective features, thu great panic of 1873 ensued, which was fa1 worse than the panic of 1857, and whicf lasted for more than five times as long { period. From September, 1873, unti January, 1879, the business of the coun try was more depressed, and more laborer were driven out of employment than il any previous period of the country history.
 1883. Pretended reduction, but real in crease in tariff. Wages cut down every where in factories and mines. Great pani in May 1884, leaving depression for tw years.
 The most extraordinary fact about thi whole story is, that men of sense who hay lived through the fearful period of depres sion extending from 1873 to 1879, shoul yet listen gravely to the assertion of pro tectionists that nothing is needed to secu1 prosperity except just such high tari as we have now and had them