The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-05-20

OF 1916 down to the last ten days OF Blu
chanan's administration, when civil war
was imminent in this country, not a bond,
not treasury note, not government OBJ
legation in any form sold for less than par
in gold, while many OF them sold at very
considerable premium in gold. During the
last nine days OF that administration, when
the clouds of great civil commotion were
overshadowing the land SS,000,000 of
bonds were sold December IL, 1860, at 90a
per cent, or discount of 0l per cent, in
stead OF from IL to 80 per cent, rs stated
by the gentleman from Michigan.
After the Democratic administration
had gone out and the Repub-
lican administration had come In,
after the low tariff OF 1916 and 1857 had
been repealed and the Morrill, tariff bill of
1861 had been passed, the Republican adj
ministration sold bonds at 10 per cent. dis
count Would it be fair to say that the
bonds were sold at discount because the
rates Of duty on imported goods had been
increased? 1 would be ashamed of myself
II l made such charge. The truth is, the
credit OF the government Was always good
in peace and in war until the civil commo-
ton came in 1850, and no administration,
Democratic or Republican, no system OF
taxation, free trade or protection, could
have prevented the sacrifice OF government
obligations under such circumstances.
So far the main opposition 10 this bill
has been against that party which proposes
TO reduce the tariff taxes, and were told
that its passage would ruin many valuable
industries now flourishing; that IL will
throw many workmen out OF employment
and diminish the wages Of those who still
manage 10 find work TO do. II l believed
that the passage Of this bill would work
any material injury to any honest industry
in this country, i would hesitate long,
notwithstanding the emergency now on
us, before casting my vote for IL. But i
am satisfied that instead OF that IL will
greatly benefit them and at the same time
relieve the people. In 1865, Sl27, 100000
were collected by the government from
manufacturers and their products. Every
vestigo OF that enormous burden has been
removed, and properly removed, and now
! admit the time has come when the great
masses OF consumers have right TO de-
mand relief. There never was time
when this internal tax remained on the
manufacturers and their products, that
they would not have been made TO surren-
der q large part Of the duties on imported
goods TO remove that charge from their In
dustries.
Mr. Carlisle then quoted from n speech
delivered by John Sherman in 1867, TO the
effect that the manufacturer had an all
vantage equal TO the duty imposed. and he
asked how the gentlemen ON the other
side could reconcile this statement with
their contention that the consumer did
not pay an increased price on account Of
the duty. The statements that protection
enabled the manufacturer TO sell his goods
cheaper, and enabled the laborcr TO get
better wages, were utterly inconsistent
with each other. lie did not deny that
there had been a tendency toward in
creased wages in this country, but 1t was
truo OF all other countries, free trade or
protection. There were other causes than
protection for this, and the principal one
was the increased use Of machinery. lie
quoted from u report by the commissioner
and right Of the labor bureau 10 the ways
and means committee 10 show the effect
OF the employment OF mechanical forces.
lie also pointed TO railroads, tclcgraphs,
STEAMBOATS, and increased facilities
for exchange, az elements that had
brought down the prices OF goods
aud Increased the wages OF labor All
Is not a well-informed man who docs not
know that Il Il not the tariff not the rates
OF duty upon imported goods that have
brought down the prices Of manufactured
articles or increased wages, but the in
yen,ons which have characterized this
age as no other age before has been
characterized. The gentleman from Maine
talks about tho homo market We all
know, he SAYS, that this protective sys.
tem Is beneficial 10 the farmer because,
first, Il protects his products against com
petition from the agricultural products Of
other countries; second, the gentleman says
because Il diversincs industry aud by In.
creasing tho number Of people engaged
in other than agricultural pursuits, In
oreascs the market for his product. IL Is
scarcely necessary for me 10 make an
argument 10 show that as 10 all those agri.
cultural products which the farmers Of this
country are compelled 10 send abroad TO
sell at foreign prices, the duty cannot DO
Of any possible benefit The American
/ farmer understands this 20 surely, and the
| fallacy OF this argument has 10 often been
exposcd, that Ii would be n waste OF time
/ 10 dwell upon Il. II is barely possible that
ai particular time and point along the
northern border duty upon barley aud
hay and potatoes and eggs aud perhaps q
| few other articles may enable the pro.
ducers OF those articles at that particular
| time and place 10 realize n higher price
than he would II the duty wcru removed.
/ But even this occasional and uncertain
benefit Is of but very little benefit 10 him,
and when you come 10 remember that lac
Is all the time subjected TO the burden
which high tariff imposes upon the arii.
Giles he has 10 buy and undertake 90 set oil
his advantages against his Disadvantages
YOU will find large balance ON the wrong
side.
OF course, the domestic market, the
home market, Us improving aud will con.
tinuc 10 improve under any system Of tax
alton along with the increase 81 popula.
ton, wealth, the improved facilities Tor
production aud distribution In this coun-
try, But how long arc our farmers 10 vi
down and wait for the comingo that homo
market, which the gentlemen on the other
side have been promising them for 10
many long ycars2
Take the average production OF wheat
IN this country during the last Tow years,
aud assume that there shall be no increase
whatever In the production, and that the
consumption per capita shall remain
always precisely as Il Il, and Il Is capable
of demonstration that there can be no
homo market for all the wheat Of the
American farmer until our population shall
reach nearly iO0,OOO,O 600. Tho last sta.
tistics showing the consumption and pro
duction and tho expectation Of raw
cotton In this country show that In