Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1888-08-29

182S-A very high protective tariff
Immediately followed by hard times in
1929. and low wages so long as the ia
riff existed.
1SS2-No Free trade" at all, but
slight reduction of the tariff, followed
by improvement in business.
1SS3-A gradual reduction of the ia
riff, leaving it still SO high that an
enormous surplus accumulated in the
treasury, which was distributed among
the states in 1897. 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 by the surplus.
1S42-Protective tariff restored, fol-
lowed by one year t1s43l of the greatest
stagnation of business ever known,
while during the whole existence of
this tariff farm wages were cut down
about one-half from what they had
been even after the panic of 1897, and
wheat, corn and cotton sold at prices
disastrous TO farmers and planters.
Good times and fat profits for iron, cot
ton and wooden mill owners; bad times
for everyone else.
1S46-The tariff cut down by about
one-thlrd to One-half. Result, an i'm
mense increase in commerce and ship
ping, rapid increase III manufacturers,
unprooodontad nrOcnorifv IN, a ori o,,lfuro
and the most rapid advances in wages
ever known in the history of the coun-
try, before or since.
1857-Even under the low tariff of
1916 the revenue had become excessive
and surplus accumulated. In order
to get rid of this surplus the tariff was
reduced in July; but in September, be-
fore the new tariff could have the least
effect, the short panic of 1857 occurred
as the result of another wild land spec
ulation, combined partially with the
failure of crops. BY 1858, however,
almost the whole effect of the panic
had passed away, and in 1859 and 1860
agriculture, commerce and manufac-
lures were all more prosperous than
they ever had been before.
1S6l-A protective tariff, constantly
increasing until 1867. According to
| protectionist logic the result was our
terrible civil war, because this, as a
matter of fact, Immediately followed
the new tariff. For more than a year
after the adoption of this protective ia
riff the business of the country was in a
fearfully depressed condition.
1S64-Taritf raised 80 per cent. Man
ufacturers make fortunes for three
years. Wages, in gold, lower than ever.
1o67-Great increase in tariff on WOOL
Result, immediate slaughter of 100000
head OF sheep. reduction of wool pro-
duct and ruin of many wooden manu-
features. The years, 1867, 1868 and 1869
were periods of great depression in
business and especially in manufac-
turers. In 1868 the protectiOnistS them
selves declared that there were more
unemployed workmen than had ever
before been known.
1S7O-Slight reduction in the tariff
and considerable reduction in taxation
generally. AS the tariff being still
maintained in all its protective feat
ures, the great panic of 1873 ensued,
which was far worse that the panic of
1857, and which lasted for more than
five times as long a period. From Sep
TENDER, 1873, until January, 1879, the
business of the country was more de-
pressed and more labOrers were driven
| out of employment than in any previous
period OF the cOuntry's history. So far
from there being 'twenty-seven years
OF prosperity under the last protective
tariff, fully half of that time has been a
period of extraordinary business de-
| preston, especially marked by falling
wages and the wholesale discharge of
laborers from employment. This was
especially the case in 1861, 1867, 1868,
1869, 1873, 1874, 1875, 1876, 1877, and 1878.
lSS3-Pretended reduction but real
increase in tariff. Wages cut down
everywhere in factories and mines.
Great panic of May, 1884, leaving de-
preston for two years.