The South western news., 1888-08-29
DAWSON, GA, WEDNESDAY, AUGUST 30 1885,

:" AZ" '"rid as Wen as high tariff
countries to the inventive genius
OF the people, which so facilitates
production ID the use Of improved
machinery that almost every year
much larger quantity of goods is
turned out at the same fine ant! at
less cost. According to Edward
Atkinson, FIVE persons, Fifty years
ago, made eight yards of cleth a
day. This, counting three hundred
days to the year, would make the
yearly produc: 2,400 yards. In d
New England factory now, the
yearly product of five persons
amounts to $4,000 yards. This is
what has cheapened manufactured
goods everywhere, in low tariff
England as well as the high tariff
United States.
The foreign producer, according
to Maj. Mckinley, is willing to pay
the high duty tor while in older
to get control of our market which
it is assumed he would do under
a low tariff. In 1860 when the
low tariff rate was only 1857 per
cent, our consumption of manu-
iacturers was 1851 per cent. of do
nestle and 12.43 per cent. of tor,
eign goods. In 1880 with a tariff
rate of 43. $S per cent, our con-
sumption was 92.58 per cent. Of
domestic and 7.42 per cent. of for
eign manufacturers. And yet Mai.
Mckenly processes to believe that
we are TO be swampe,i with foreign
goods under thirty-ive per cent.
tariff.
Of the language which he cites
from the first tariff act, that of
1893, he says; "a more posi-
tive declaration in favor of the pro-
tective system it would be difficult
to find language to express" VIII
Maj. Mckinley compromise on the
tariff of 1889? The first year it
went into operatieo the rate of duty
was 1884. per cent. and the next
year 1t fell to 11.54 per cent. If
the Mills bill, averaging thirty-fye
rer cent, is such free trade meas
uic. how can he consistently cite
the preamble OF fifteen and clcv-
en- FER cent. tariff in support of the
present fnrtyfve per cent tariff.
There is not a revenue rcEirmcr in
the country who is not willing to
compromise on the tariff OF 1888,
According TO Aaj. Mckinley,
reveIue tariffs have played the
mischief with the country. ard
he cites the panics OF 1887 aUd
1857, 1t is to be noticed that he left
out the panic of 1873. Let US IN
vestigate little. Says Carroll D..
Wright, United States commission
er of labor, in his first annual res
port: "The depression of 1897 was
the result of financial troubles. The
expansion of credit brought the
train of evils OF this period" And
Of 1857: The industrial depression
Of 1857''5S was incidental to the
financial pansc. Wa. IS were not
effected to any great extent, nor
the volume of business"
Compare the panic of 1878, of
which Col. Wright says: There
had been a period OF excessive soec.
ulation, large failures followed chat
of Jay Cooke, initiation of the cur,
.rency, high protective tariff, large
immigration, and the unnatural
stimulous given to industry by the
war, brought the monetary affairs
of the country to a crisis. The re-
suit was an industrial depression,
lasting until the latter part of 1878,
far more severe than that of which
has followed it."
Maj. McKinlev's two panics an
der a low tariff were financial pans
les and lasted a short while only.
The PAM, of 1873, under thirty
eight per cent. tariR was an indus.
trial panic, tor which, according to
the excellent authority we cite, the
high protective tariff was more or
less responsible, and which was the
worst we ever had.
Maj. Mckinley says that during
the low tariff period from IS4S to
1860 our imports exceeded our ex-
ports by s367,216,161. We have
no time to discuss the balance Of
trade humbug. but iftRere be any
thing IN i: We will remind Maj.
Mckinley that frsm 1852 to 1873
inclusive, with a tariff q from 1902
to az. SO per cent. our imports ex-