The sun., 1888-06-17
We Could Have Free Trade Within
Twenty Years.

Before things go any further, we will cor
rect one OF the most materially erroneous
statements of the year 1858, notwithstanding
1t was made by that gallantest of Ken
tuckians, tho Hon. HENRY WATrERsoN. 1t
Is found in the speech General WATTERsoN
delivered after he had returned from st.
Louis to Louisville:
my objective point is revenue tariff; but, in the
nature of tho We are bound to go SLOW. Rome
was built in day. The protective system cannot
be got rid of for years TO come"
Probably even tho free traders have not
stopped to think in how surprisingly short
time not only the protective system could
be got rid Of, but nearly the entire Custom
House, If they had the settlement Of tho
question. Once overcome the protectionist
opposition with which they are now con-
fronted, and the possibilities Of the situation
would be enough fairly to paralyze the Star
Eyed Goddess with their contemplation.
The whole national debt, which twenty
years ago was nearly three thousand mil
lions OF dollars, is now slightly under one
thousand millions. This will certainly be
paid off within twenty years, and possibly in
ten years. The present annual charges
upon tho United States Treasury are S3i5,-
0OO,OOO of which pensions. interest, and the
sinking fund take s17o,O0ooOo. while the re-
naming s145,0OooOO meets the regular e1-
penses Of the Government.
The internal revenue now provides $119,-
100000. That would leave only 10000, 900
necessary to be raised from other sources,
and with the addition OF few other items
such as the proposed tax on lardine, like that
already levied on Oleomargarine, or larger
tax on beer to correspond to the present
tax on whiskey the excise would easily
meet the entire demand for Government
expenses. This, Of course, would end the
further continuance Of protection, though
duty on tobacco, Wines and spirits would
still have to be levied equal to the excise on
that class of articles, or else the excise itself
would presently cease to be available. The
money raised by this duty would suffice to
meet the remaining charge for pensions.
which by the end of twenty years would
naturally be reduced to a comparatively
small figure; or II anything more should he
necessary for the remaining pensioners, a
small duty on tea and coifoo would amply
cover the case.
Free trade in less than twenty years! Do
its apostles think that their imagination can
stand it2 Did President CLEVELAND realize
with what amazing rapidity the policy rec
commended In his message would hurry this
country into a system OF free trade, freer even
than the free trade Of England? Yet that is
where the policy which would retain tho
internal revenue and reduce the tariff, would
inevitably bring U.s. And it is where tho
principles Of the leading tariff smashcrs, in
spite of protests to the contrary, would take
us within twenty years If the restraining
hand Of protection, that is still held out by
Democrats and Republicans both, should ba
overpowered or withdrawn.
When we think OF the depth to which cir
cumstances unmistakablc demonstrate that
the Hon. ROGER q. MILLS would have gone
IN his first rip into the tariff, had he not been
hampered by the necessities of politics, we
shudder at the escape of American indus
tries; but We are thankful all the same.