The Ottawa free trader., 1888-10-06
WHERE Z E PLATFORM LIES.

taiDed. Its abandonment has always beer
followed by general disaster to all Interests
| except those Of the usurer and sheriff.
And then the Mills bill Is denounced a,
such an abandonment" In the same
sense the reform of the tariffs of 1903, OF
1923, and of lS42 is denounced AS an
abandonment" because all these tariffs
like the present war tariff, We're so "pro
tective" as In large measure to be pro>
hibitive.
Now, 10 affirm that the abandonment
of any OF these tariffs was ever followed by
general disaster" is flying in the face OF
indispu'able historical fact, as any one In
the slightest acquainted with the tariff
Legislation of this country cannot help
knowing
Thomas q. Shearman, of New York, no,
a partisan writer, but studious and care
full statistician, after years of study, has
written an exhaustive history of the tariff
legislation of this country, presenting
the result of his researches as to the indus.
trial affects of all our tariff laws, In the
tinal pages of his book, In the following
brief and clear summary:
11S9-ADolition OF all interstate tariffs
and reduction of State tariffs on foreign
goods, followed by rapid increase of pros,
perity.
lS0S-Absolute prohibition of all i'm.
poltations, followed by universal disaster.
lS09-Repeal of prohibition, followed by
renewal of prosperity.
1Sl2-The tariff doubled, and all impor.
tations stopped by the war. Result, hard
times over the whole country, general sus.
pension of banks, aud such suffering in
New England that secession was threat.
ened.
1Sl6-A protective tariff adopted, In
some things higher than that of 1912,
although In some things lower. This was
the first tariff which was framed all through
upon the principles of protection. The
proteCtionists themselves always say that II
WAS followed by great depression of trade.
lSlS-The tariff made still more protects
i've, aud the protectionists always refer to
the year 1919 as one of great disaster.
lS4-A higher tariff, followed by great
depression in the protected manufactures
anu certainly without one cent of increase
in wages
lS2S-A very high protective tariff, im-
mediately followed by hard times In 1929,
and low wages as long as this tariff existe1.
lS32-No "free trade" at all, but slight
reduction of the tariff, followed by i'm"
provement in business.
IS33-A gradual reduction of the tariff,
leaving 1t still so high that an enormous
surplus accumulated In the Treasury,
which was distributed among the States in
1887. This distribution was Immediately
followed by the famous panic of 1897,
which was the direct result of wild land
speculation all over the country, brought
about largely by the surplus.
2-Protective tariff restored, followed
by one year (1S40 of the greatest stagna'
tion 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, cotton
and wOOlen mill owners; bad times for any
one else.
1S46-The tariff cut down about one
third to One-half. Result, an immense in
crease In commerce and shipping, rapid
increase In manufactures, Unprecedented
prosperity to agriculture, and the most
rapid advance In wages ever known In the
history of the country before or since.
1s57-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, before the new
tariff could have the least effect, the short
panic of 1857 occurred as the result Of an
other wild land speculation, combined par
TALLY 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 in
creasing until 1867, For more than year
after the adoption of this protective tariff
the business of this country was In q fear>
fully depressed condition.
lS64-Tariff raised 80 per cent, Manu-
facturers made fortunes for three years
Wages, in gold, lower than ever.
1S87-Great increase In tariff on wool.
Result, immediate slaughter of 1000, 900
sheep, reduction of wool product and ruin
of many wOolen factories. The years 1867,
1868 and 1869 were periods of great de-
preston in business, and especially In
manufactures. In 1868 the prOteCtiOnists
themselves declared that there were more
unemployed workmen than had ever before
been known.
lS70-Slight reduction In the tariff and
considerable reduction generally. As re.
suit, business improved consider ably. But
the tariff being still maintained In all Its
protective features. the great panic of 1873
ensued, which was far worse than the
panic of 1857, and which lasted for more
than five times as long period, From
September, 1873, until January, 1879, the
business of the country was more depress-
ed and more laborers we're driven out of
employment than in any previous period
of the country's history So far from there
being twenty years of prosperity under
the last protective tariff, fully half of that
time has been a period of extraordinary
business depression. especially marked by
falling wages and the wholesale discharge
~ Ia ahnroraro from on, pIovn ont This waa