The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1888-04-12

dreds and their operatives thrown out
of work ny thousands. Distress became
the rule rather than the exception, and
the country was plunged INTO a black
slough of bankruptcy and repudia.
ton.
The year 1912 witnessed the adoption
of Clay's famous protective tariff, and
with the shutting out of foreign goods,
came renewed prosperity to our manu-
features and renewed health to our ma
ton. OF the prosperity of the year fol-
lowing 1912 President Polk SAID: the
progress of our country in her career Of
greatness, not only in the vast extension
of our territorial limits and in the rapid
increase of our population, but in re-
sources and wealth, and in the happy
condition OF our people, is without an
example in the history of nations But
while President Polk was writing these
words, Democratic Congress was pass
ing the tariff bill of 1876, lowering the
duties on imports. In this instance the
decline in business was slower than the
decline following the tariff of 1888, but
it was none the less fatal because it was
slow. Arrested for a time by the impe-
tus which the Mexican war gave to bus
mess, it went on, and though the Euro
pean wars called for an increased eX-
port of grain and provisions from this
country, though the great famine in Ire
land and the failure of crops on the con
tinent opened up great market for our
products, though in the 10 years which
elapsed from 1S49 we dug 81, 100, 100000
of gold and silver from our mines, yet
we find, during all these years, the busl
ness and manufacturing interests of the
country steadily declining. and with the
tariff bill of 1857 still further lowering
the duties, came this crash. From 1857
up to the opening of the war suffering
and hardship was prevalent to this coun.
try; thousands of men were out OF work,
the country districts were filled with
tramps driven from the workshops and
the factories to seek employment on the
farm; private credit was miserably poor,
and for year previous to the adoption
of the tariff bill of 1861 the government
was actually compelled to borrow mon
ey at the extortionate interest of 12per
cent, to meet Its ordinary expenses in
time of peace. With the Morrill, tariff
of 1861 came renewed prosperity, and
the quarter century which has elapsed
since that time has witnessed marvellous
development of production, commerce,
wealth and individual welfare. We are
today the strongest, wealthiest, most
intelligent and happiest people on the
face of the earth. Each of our indus.
tries is prosperous, and the healthy tide
of the nations life beats full and strong |
to the weakest member of the body pol
tic.
To sum up with, these facts are indis-
putable. Once, under the confederation
this country experienced free trade
Three times, in 1915, in 1887 and in 1857
have we experienced partial free trade,
and each time disaster has followed the
experience. Protection, as established IN
1918, in 1928, 1912 and in 1861, has made
business prosperous, labor IN demand,
wages high and prices low, public and
individual credit good, and public reve-
lues large and increasing. Free trade
as established in 1856, in 1916. in 1888
and in 1916 and 1857, has made business
Door. labor everywhere out of employ
nent, wages low and prices high, public
md individual credit poor, and public
'evenues small and rapidly decreasing.
G Howard in the Boston
Journal.