Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1888-07-06
TARIFF HISTORY.

renews. of prosperity.
18l2.-Tae tariff doubled and all importa-
tions stopped by the war. Result,
hard times over the whole country
general suspension of banks, and such
suffering in New England that secs
sion was threatened.
1S16.-A protective tariff sdopted-in
some things higher than that of 1872
although in some things lower. This
was the first tariff which was framed
all through upon the principle Of pro-
lection. The protectionists themselves
always say that it was followed by
great depression Of trade.
1SlS.-This tariff made still more pro.
tective, and the protectionists always
refer to the year 1919 as one of great
disaster.
1s24.-A higher tariff, followed by great
depression in the protected manufac'
lures, aud certainly without one cent
ofincrease in wages.
1S28.-A very high protective tariff, i'm
mediately followed by hard times in
1929, and low wages so long as this
tariff existed.
1882. No "free trade" at all; but slight
reduction Of the tariff, followed by
improvement in business.
1S33.-A gradual reduction of the tariff,
leaving it still so high that an cnoi.
NOUS surplus accumulated in the
Treasury, which was distributed
among the States in 1887. This dis
tribution was Immediately followed by
the famous panic of 1887, which was
the direct result of wild land specula.
ton all over the country, brOugh!
about largely by the surplus.
1912 -Protactive tariff restored, followed
by one year C1843) of the greatest stag,
nation OF business ever known; while
during the whole existence of this tac-
if farm wages were cut down about
one-halffrom what they had been even
after the panic of 1887, and wheat,
corn and cotton sold at prices disas
trous to farmers and planters.
1846.-The tariff cut down by about one
third to one-half. Result, an i'm
mense increase in commerce and ship
ping, a rapid increase in manufactures
unprecedented prosperity in sgricul-
ture, and the most rapid advance III
wages ever known in the history cI
the country, before or since.
1S57.-Even under the low tariff of 1916
the revenue had become excessive and
surplus accumulated. Iu order II
get rid of this surplus the tariff Wat
reduced in July; but in September
before the new tariff could have the
least effect, the short panic of 1857 Oc
CURED as the result of another wild
land speculation, combined partially
with the failure of crops. By 1853
however, almost the whole effect Of
the panic had passed away, aud il
1859 and 1860 agriculture, commerce
and manufactures were all more pros
porous than they ever had been before
l86l.-A protective tariff, constantly In
creasing until 1867. According 10 pro
tectionist logic the result WAS our ter
rible civil war, because this, as mat
ter of fact, Immediately followed tn,
new tariff. For more than q yea
after the adoption Of this protective
tariff the business of the country wa
in tearfully depressed condition.
1S64.-Tariff raised fifty per cent. Wages
in gold, lower than ever.
1867. Great increase in tariff on wool
Result, immediate slaughter of 400,
600 sheep, reduction of wool produce
and ruin of msDy woollen factories
The years 1867, 1868 and 1869 wer,
periods of great depression in business
and especially in manufactures. Ii
1863, the protectionists themselves de
clsred that there were more unem
ployed workmen than had ever before
been known.
1S7O.-Slight reduction in the tariff ant
considerable reduction in taxation
generally. As result, business i'm
proved considerably. But, the tariff
being still maintained in all its pro
tective features, the great panic of 1877;
ensued, which was far worse than tn,
panic of 1857, ard which lasted fol
more than five times as long period
From September, 1873, until January
1879, the business of the country wal
more depressed and more laborer;
were driven out of employment thar
in any previous period of the country
history. So far from there bein!
''twenty-seven years of prosperity
under the last protective tariff, fully
half of that time has been a period o
extraordinary business depression, es
pecially marked by falling wages ant
the wholesale discharge of laborer
from employment. This was especial
ly the case in 1861, 1867, 1863, 1869
1873. 1874. 1875, 1876, 1877 and 1878
1S53-Pretended reduction, but real in
crease in tariff Wages cut dowr
everywhere in factories and mines
Great panic of May, 1884, leaving de
preston for two years.
The most extraordinary fact about thi
whole story is that men of sense who hav
lived through the fearful period of dspres
sion, extending from 1873 to 1879, when
for the first time, legislation agains
"tramps" was needed, should yet lister
gravely to the assertion of protectionist
that nothing is needed to secure prosperit,
except just such high tariff as we hay
now and had then.