Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1890-01-23

even a more extensive scale Prosnar,+
wide and general, was at once restorai
During this long period free trade tar,s.
we're thrice followed By industrial sf,,a.
ton. by financial embarrassment, by dis
among all Glasses dependent for snbsi,tas..
upon their own labor. Thrice were 49,.
burdens removed by the enactment OF a ~
tective tariff Thrice the protective tirs
promptly led to industrial activity. 10 gn,r'
ciaI ease, to prosperity among the people
II * trita that 3 faauc..i pani... %. l-.-s +.
$50. ara is existence would blunt the for
of my argument IL there were not an intar,.
lively truthful way Of accounting for it AZ.
distinct result from entirely distinct ca8ss
The civil war, which closed 10 1885, had ~.
riiced on both sides q vast amount 81 uror.
ertv. Reckoning the money directly y.
pended, the value OF property DESTROYED srs
the production arrested and prevented, III
total is IS mated al S9.0O0Oa0,WO.
AMERICAS GEowTH SINCE 1850
Notwithstanding the evil prophecies a,
both sides, the panic did not come until eiybt
and a half years after the firing Of the h,
gun in the civil var Nor did it come until
after two great calamities in the years imne
diately preceding had caused the erpsa5.
tare Of more than S20O,O00,0O0, suddgpl7
Withdrawn from the ordinary channel, Il
business The rapid and extensive rebuildB,
in Chicago and Boston after tine destructive
fires Of 1871 and 1872 had closer connection
with the panic Of 1873 than is commonly
thought Still further, the six years ds
preston, from 1873 to 1879, involved indyh
ual suffering rather than general distress
The country as whole never advanced ia
wealth more rapidly than during that period
Viewing the country from 1851 to 1852
full twenty-eight years-the longest undis
turbed period in which either protection Or
free trade has been tried in this country.
ask Mr.. Gladstone if parallel can be found
10 the material advancement Of the United
States
In 1850 the population of the United States
was in round numbers 81 10000 At ths
same time the population of the United King.
dom was in round numbers 100000 A.
the end of twenty years 1850, it appeared
that the United States added nearly $1,000.
600. 600 to her wealth, while the United King.
dom had added nearly Sl5,OOO,OOO,OOO, Or
about one-half The United Kingdom bad
added 6,0Oo.O00 to her population during tie
period Of twenty years, while the addition
the United States exceeded ls0O0,OOO
In 1860 the average wealth, per capita, Of
the United Kingdom was 81 900, while in the
United States it was but $50. In 1850 the
United Kingdom had increased her per capita
wealth to 81 go, while the United States bad
increased her per capita wealth to $50 The
United Kingdom had in twenty years In
creased her per capita wealth % per cent,
while the United States had increased her PER
capita wealth more than 80 per cent Il a.
lowance should be made for war losses The
ratio Of gain in the United States would far
exceed 100 per cent
HOW PROTECTION HAS LOWERED PRIcE
John Edgar Thompson, late president q
the Pennsylvania Railroad company, pur
chased 100 tons of steel rails in 1862 at prs
freight paid to New York; duty Of Is Ps
cent. unpaid Of SOB a gold coin. By way
of Illustrating Mr.. Gladstones claim 70
superior quality of manufactures under trS
trade, the railroad company states that many
Of the rails broke during the first winters
trial. In 1870 congress laid specific dut!
Of SIS per ton on steel rails. From that tins
the home market has been held by our own
manufacturers. with a steady annual fal IN
price, as the facilities of production increased
until the past summer and autumn, when
steel rails were selling in Pittsburg Chicago
and London at substantially the same prizes
Does any free trader on either side Of tAs
ocean honestly believe that American rala
could ever have been furnished as cheap!H
English rails, except by the sturdy oomPeu
ton which the highly protective duty Of ia
enabled the American manufacturers
maintain against the foreign manufactures
in the first place, and among American NAME
facturers themselves in the second placed
English steel for locomotive tires imported
in 1865, duty paid, was thirty-four cents s
pound in gold. At the present time llSa
American steel for locomotive tires Of q
good quality as the English steel formerly
imported, is furnished at four and three
quarter cents per pound and delivered ireeG
cost at tie point where the Locomotives az
manufactured
These illustrations might be indefinite!
multiplied In woolens, in cotton, in leaihS
fabrics, in glass, in products Of lead, OF bTaA
Of copper; indeed, in the whole round
manufactures, it will be found that protector
has brought down the price from the rsN
charged by the importers before protecua
had built up the competing manufacture
America For many articles we pay les tn@
is paid in Europe. If we pay higher for oinS
things than is paid across the sea tolA''
figures plainly indicate that we pay less ln.1
we should have been compelled TO pay L %,
protective system had not been adopted am
| beg Mr. Gladsuones attention to the laA
that the American people have much Nor
wherewith to pay than they ever mao
could have under free trade.
UNPARALLELED RAILROAD CONSTRUCTS
Mr. Gladstone boldly contends that KEY
ing capital at home by protection Is dear pr
duction, and is delusion from top 70 y.
tom" take direct issue with him on 'ns
proposition. Between 1870 and the prsSsn
time considerably more than 100000 miles,
railroad have been built in the United olas"
The steel rail and other metal connected me-
with involved so vast a sum of money In'ss
could not have been raised to send out Oh ~
country in gold coin. The total cost coliu ~
have been less than $500, 0OO,0OO We s
a large interest to pay abroad on the pun.
debt. and for nine years after 1870 goa "
at a premium in the United States pul~s
these years nearly 10000 miles Of ral'E
we're constructed, and to import EngnsI :.
and pay for it with gold bought at
premium would have been imposSo@
very large proportion of the railway en'~