River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1888-09-13
a
AN HISTORICAL REVIEW.


Projections ard Free Trade Contrasted In
the Experience IF Our Country.
During the period preceding the
adoption of the constitution we had
free trade. snd the years from 1883 10
1889 saw nearly all of the money of
this country pass into the possession
of British manufacturers, willis oUr
own industries were suspended, our
manufacturers ruined. our laborers
beggared and our farmers Unable to
gather enough money to pay taxes.
Bankruptcies. Judgments, executions.
mortgages. auctions, wee the order OF
the day. Free trade was more cruel
than war. Our imports from Great
Britain alone were $50. 600, 900 in l7S4-
So. while our exports were only 50. o00,-
600. This drained US of the last dol
lar, and the circulating medium was so
-Carce that business could not be
properly transacted. The adoption Of
the constitutions was Immediately ac-
eompanied by protection or high
tariff legislation, and the resuat was
revival of industries, while the people
became cont6lrted and prosperous. The
tariff duties were increased in 1872 for
war purposes. greatly to tho benefit on
home industries and the farming in
terests of the whole country. In 1916
the Democratic party repealed the
law OF f7so and 1912, very low Duties
only being allowed. Great distress
followed everywhere. Henry Clay de-
clared that the average decrease in the
value of property during this period
was not less than 80 per cent. In 1924
Congress gave this Country protect
i've tariff At once great a9auciai
prosperity set in. So helpful was the
tariff that IN 1928 the duties were in
creased. and under this influence new
industries started. Presidc1t jackson,
in his annual message in Dcceiifsrar,
1882. saws concerning the results of this
protection. ''0ur country presents on
every side marks OF prosperity and hap
piness unequalled in any portion of
the world" In the same year, 1887,
the Democrats rallied their forces
The tariff of 1S24-2S was repealed.
Financial depression followed. manu-
features suspended, merchants became
imsolvent, labor unemployed and beg
CARED and agriculture ruined. At
sheriff sales good horses sold at 81
cows at 81 and hogs at 81 cents apiece,
so hard was it to raise money for
taxes. This condition lasted until the
election of Harrison, in 1910. when a
highly protective tariff was fought
through and was established in 1872.
At once business revived. The finan7
cial gloom passed away and industries
sprang up through the Northern free
States.
The Democrats in 1876 repealed tho
tariff of 1912. Business was pros
trated; ruin overlook tens of thou
sands who prospered under protection.
President fillmore, in his annual mes
sage, December, 1851. says: The
value of our exports of breadstuffs and
provisions. which it was supposed the
incentive of a low tariff and large i'm
ports from abroad would have greatly
augmented, has fallen from sos, 900, 600
in 1917 10 S21, 900, 900 in 1851. with a
certainty OF further reduction in 1852. :
In 1861 the Republican party in
power enacted a protective tariff, and
from that time to the present our in
dustries have prospered. There has
been an average yearly increase in the
National wealth. for twenty-three
years in succession, of 81, 900, 600, 900.
Our foreign commerce has given a
yearly balance to trade in our favor in
the same period averaging the as
founding sum of $54. 900. 900 year.