The Maryville times. (Maryville, Tenn.) 1884-1944, 1890-01-29
BLAINE'S REPLY.


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ed on even a more extensive scale.
Prosperity, wide and general, was
at once restored, During this long
period free trade tariffs were thrice
followed by industrial stagnatiop,
by financial embarrassment, by |
distress among all classes depend
ent for subsistence upon their own
labor. Thrice were these burdens
removed by the enactment OF a
protective tariff. Thrice the pro-
tective tariff promptly led 20 indus
trial activity, 10 financial ease, 10
prosperity among the people.
1t is true that financial panic
occurred in 1873, and its existence
would blunt the ,orce OF my argu-
ment if there were not an impeta-
lively truthful way Of accounting
for it as distinct result from en-
tirely distinct causes. The Civil
war, which closed in 1865, had sac
rificed on both sides a vast amount
of property. Reckoning The money
directly expended, the value of pro-
perty destroyed and the production
arrested and prevented, the total Is
estimated at $9,OOO,OOO,OO0.
AMERICAS GROWTH SINCE 1860.
Notwithstanding tho evil prophe-
cies on both sides, the panic did
not come until eight and a half
years after the firing Of the last
gun in the civil war. Nor did It
come until after two great calami-
ties in the years Immediately pre-
ceding had caused the expenditure
of more than $2O0,OOO,OOO, suddenly
Withdrawn from the ordinary chan
nels Of business. The rapid and ex-
tensive rebuilding in Chicago and
Boston after the destructive frea Of
1871 and 1872 had a closer connccc.
ton with the panic OF 1878 than is
commonly thought. Still further,
the six years. depression from 1873
70 1879 involved individual suffer-
ing rather than general distress.
The country as whole never ad-
vanced in wealth more rapidly
than during that period.
Viewing the country from 1861 to
lSe9-lGll twenty.eight years-the
longest undisturbed period in which
either protection or free trade has
been tried in this country, l ASH
Mr.. Gladstone if a parallel can bt
found to the material advancement
of the United States.
In 1860 the population of the Uni
ted was in round numbers 81 ,0O0, 600
At the same time the population o
the United Kingdom was in rount
numbers 29,OOO,OOO. At the end 0
twenty years 1SSO, it appeared
that the United States added near
ly $3OOOO,OOO,OOO to her wealth
while the United Kingdom ha,
added nearly $l5,OOO,OOO.0OO, 0
about One-half. The United King
dom had added 100000 to her pop
ulatiOn during the period of twent,
years, while the addition to tn
United States exceeded 100000.
In 1860 the average wealth, pc
capita, of the United Kingdom wa
$1,000, while in the United States i
was but $3.50. In 1880 the Unite,
Kingdom had increased her pc
capita wealth to 1890, while Tn
United States had increased he
per capita wealth TO 1870. The Uni
ted Kingdom bad in twenty year
increased her per capita wealth 2
per cent, while the United State
had increased her per capita wea!t
more than SO per cent. If allow
ance should be made for war losse.
the ratio of gain in the Unite
States would far exceed 100 pc
cent.
HOW PROTECTION HAS LOWERE
PRICES.
John Edgar Thompson, late pre-.
tdent of the Pennsylvania Railroa
company, purchased 100 tons ,
steel rails in 1862 at price (freigl
paid to New York; duty of 45 p.
cent. unpaid) of $lO3.44 gold col
(By way of illustrating Mr.. Gla'
stones claim to superior quality
manufactures under free trade, Il
railroad company states that man
of the rails broke during the fir
winters trial) In 1870 Congre
laid a specific duty of $2S per tC
on steel rails. From that time Il
home market has been held by o,
own manufactures, with a steat
annual fall in price, as the faciliti
of production increased, until 4
past summer and autumn, VIII
steel rails were selling in Pittsbul
Chicago, and London at substa