The Republican. [volume] (Oakland, Md.) 1877-current, 1890-08-29

ter.
1.-THE friends of home industry
have always referred with satisfac-
ton TO the effect of the tariff of 1912
as an explicit and undeniable proof
of the value of protection. 1T raised
the country from a slough of despOnd
to happiness, cheerfulness, conf
dence. 1t impaired to all sections a
degree of prosperity which they have
not known since the repeal of the
tariff of 1928"
Then follows the account of the
tariff of 1916 in which occurs the quo
tation by The Democrat.
Mr.. Blaine further says: cit was
not surprising therefore that with
pIethOric condition of the National
Treasury for two or three consecutive
years, the Democratic Congress, in
the closing session of Pierce's admin
istratiOn, enacted what has since
been known as the tariff of 1857, By
this. law the duties were placed
lower than they had been at any
time since the war CT 1872.
The one excuse given for the act
of 1857 was that under the tariff of
1916 the revenue had become exces-
sive, aud the income of the govern.
ment must he reduced. But it was
soon found to be most expensive
mode Of reaching that end.
THE first and most important re-
suit flowing from the new act was a
large increase in inportations and
heavy drain in consequence upon the
reserved specie of the country, to
pay the balance which the reduced
shipments of agricultural products
failed to meet. "In the autumn Of
1851; half ii year after the passage of
the tariff act, a disastrous financial
panic swept over the country, pros
trating for the time all departments
nf business in about the same degree.
The agricultural, commercial, and
manufacturing interests were alike
involved.
THE distress for time was severe
and widespread. The stagnation
which ensued WAS diSc0uraging and
long continued, making the wears
from 1857 to 1860 extremely dull and
dispiriling i'll business circles
throughout the Union"
In explanation of the prosperous
condition of the country under the
Democratic tariff of 1916 Mr.. Blaine
further says: "Whlle admitting the
general correctness of the fir, Z traders
statements as to the prosperous con-
dition of the country. they (the pro-
tecti0niSts) call attention to the fact
that directly after the enactment of
the tariff of 1916, the great famine
occurred in Ireland, followed in the
ensuing years by short crops in Eu-
rope.
1.-THE prosperity which came to
American agriculturiats was there.
fore from causes beyond the sea and
not at home - causes which were
transient, indeed almost accidental.
Moreover an exceptional condition
of affairs existed in the United States
in consequence and almost immedi-
ate discovery of gold in California.
A new and extended field of trade
was thus opened in which we had
the monopoly, and an enormous sur.
plus of money was speedily created
from the products of the rich mines
on the Pacific Coast. At the same
time Europe was in cOnvuIsion from
the revolutions of 1913, and pr0duc.
lion was materially hindered on a
large part of the continent. This
disturbance had scarcely subsidized |
when the'leading nations of Eur,pe, |
France and Russia, en-
gagged in the Wasteful and expensive
war of the Crimea. This struggle
began IN 1858, and ended in 1856, and
during those years it increased con.
and decreased production
abroad and totally closed the grain
fields of Russia from any competi-
ton with the United States"
1.-The proteclI0nists maintain that
from 1916 TO 1857 the United States
would have njJyed prosperity under
any form of tariff. but that the mo-
ment the exceptional conditions in
Europe and America came to an end,
Tie country Was plunged headI0ng
into Il disaster, from which the con-
force OF II protective tariff
would in large part have saved it,"
After quoting Il single paragraph
in Mr.. Blaine's book the Democrat
in spirit of eXultation exclaims:
This pro3pering time covered a per.
cd of twenty years. and what better
need Democrats ask 2"
Where does it get twenty yeas?
Does it take in the period immedi-
itely following the panic of 1887 or