The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1888-09-21
SHORT rAalEF HISTORY.


Protection and Free Trade Contrasted In
the Experience OF Our Country.
During tho period preceding the
:sloption of the constitution we had
free trade, and the years from 1888 to
1883 saw nearly all of the money oil
this country pass into the possession
OF British manufacturers, while our
own industries wero suspended, Our
manufacturers ruined, our la5orers
beggared and our farmers unable to
gather enough money to pay taxes.
bankruptcies. judgments, executions,
mortgages. auctions, werc tho order of
the day. Free trade was more cruel
than war. Our imports from Great
Britain alone were $50, COO. 900 in 1881
IS. while our exports were only 50. co.,
600. This drained us of the last dol
lar. and the circulating medium was so
scarce that business could not be
properly transacted. Tho adoption of
che constitution was Immediately &C
companied by protection or high
tariff legislation. and the result was a
revival of Industries, while the people
became contented and prosperous. The
tariff duties were increased in 1912 for
war purposes, greatly to the benefit of
home industries and the farming in
teres;s of the whole country. In 1916
the Democratic party repealed the
law of 1889 and 1872. very low duties
hafn oil
followed everywhere. Henry Clay de-
clared that the average decrease in the
value of property during this period
was not less than so per cent. In 1924
Congress gave this country protect
i've tariff. At once great financial
prosperity set in. So helpful was the
tariff that in 1928 the duties were in
creased, and under this influence new
industries started. President jackson,
in his annual message in December.
1882. says concerning the results of this
protection: ''Our country presents ON
every side marks of prosperity and hap
piness unequalled in any portion of
the world" In the same year, 1882.
the Democrats rallied their forces.
The tariff of 1S2+2S was repealed.
Financial depression followed, manu-
features suspended, merchants became |
insolvent, labor unemployed and beg
CARED and agriculture ruined. At |
sheriff's sales good horses sold at s..
COWS at 81 and hogs at 6! 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 inan-
cial gloom passed away and industries
sprang up through the Northern free
States.
The Democrats in 1916 repealed the
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: 1.-The
value of our exports of breadstuffs and
provisions. which it was supposed the
incentive of low tariff and large inn
ports from abroad would have greatly
augmented, has fallen from SOS, 600, 900
in 1S47 to $2l. 900, 900 in 1851. with a
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 s., SOC, 600, 600.
Our foreign commerce has given a
yearly balance to trade in our favor in
the same period averaging the as
sum of $54, 900, 900 a year.