The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1890-10-14

ticians now call free trade, and Mr.
Calhoun was in favor of high tariff
the protective idea. In 1916 the
tariff was again changed to suit the
capitalists of our country. Hard
times followed. In 1924, largely
through the influence of Mr.. Clay, the
tariff was again increased. Mr..
Buchanan, afterwards the Democratic
President, was Mr.. Clsy's chief aid.
Mr.. Webster still fought what he
called " the obsolete and exploded no
ton of protection" South Carolina
and Massachusetts, were hand in hand.
| Capitalists we're then, as now united,
favoring what is now called free trade.
At that time importing and shipping
offered the greatest opportunities for
money making. Clay, favoring the
masses, was citing history. High
tariff, good times, and his argument
was high tariff is the cause of good
times, and in 1928 the tariff was again
increased. Raw materials were In.
Guided. New England had gone into
manufacturing las the almanac makers
saw about tais time. With his people
Mr.. Webster went. Their interests
were his interests. He followed Mr..
Calhoun's example. They cut loose
from old party slogans and championed
their peoples cause.
In 1888 MI. Clay's compromise
tariff act was passed, which provided
that all duties in excess of 20 per
cent. should be abolished within a
period of ten years. In 1887 another
financial crash anne. Again the fol
lowers of the protective idea asserted,
/" told you so, every time the tariff
is reduced hard times follow" His
tory was on the protective side, and
the people placed the Wings in power
who, in 1912, enacted another tariff
law in which protection to industries
in America was the distinctive idea.
Buchanan voted for this, her high
tariff legislation, while Mangum, one
of the ablest Wings in the South,
opposed it. In 1914 the contest be-
tween Polk and Clay for the presi.
dency came on, and the tariff question
was a subordinate one. The Demo
cratic party then, as now, was divided,
Northern Democrats mainly favoring
the protec i've idea, while Southern
Democrats favored a low tariff. Mr..
Walker was chosen as the Secretary
of the Treasury by MIR. Polk, and the
Walker tariff bill of 1916 was passed.
1t proved to be the most satisfactory
tariff bill ever enacted. ALI opposi-
ton ceased. Tariff discussions we're
at an end. The Democratic party
now asserted that a law tariff was
favorable to good times. Facts and
history were on their side. The
treasury was full. What shall we do
with the surplus? was the question.
State aid to turnpikes, canals, ETC.,
induced those that saw the beneficial
effects to cry for national improve
ments. The Pacific Railroad was
born, nourished and encouraged.
Both parties favored a reduction of
the tariff in 1857. 1t was reduced
lower than al any time since 1912.
Gold went out of u country to pay
for imports. The balance of trade
was against us.
With nations as with individuals.
when expenses are greater than in
comes, when we buy more than we
have to sell, we must draw on our
original capital to settle our accounts
The low tariff of 1857 went into
effect. A panic followed. The pro.
tective tariff followers were in their
glory. 1t vas their turn to say, 81
told so. AS usual, hard times and low
tariff 60 hand in hand"
War tariffs followed in 1861, 1852,
and 1868. Today we have the high,
est tariff we have ever had and a
good prospect Of a still higher one,
and times are hard all over the coun,
try. Trusts, companies, spectators,
and bankers alone excepted.
AS a matter of history, the fathers
favored the protective idea. Hamil.
tons idea was not to favor infant
INDUSTRIES but those that were infrm
by reason of age. He said: " 1t is
only fit to be employed when a manu-
facturer has made such progress and
is in sc many hands as to insure a due
competition and an adequate supply
on reasonable terms" The fathers
knew nothing of the power of money
to Cypress. They did not dream of
trusts and combines that would shut
out competition and retard develop.
ment and increase prices.
Truth is, the tariff is a personal
matter. 1t becomes local when a ma
jority have the same interests at stake
in a given locality.
For an example, I cite Mr.. Smith,
a cotton grower in Eastern Carolina.
All that he raises beyond crops used
for family use, is exported-his
product, cotton, being raised in greater
quantities than our mills