Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1891-05-30
A WONDERFUL RECORD.
PROTECTION AND FREE-TRADE IN
MARKED AND TELLING CONTRAST.

Results of Revenue TariT'-what
Period of Protection Has brought
About--A Showing for Americans to
Feel Proud Over.
The tariff for revenue only" enacted
by a Democratic congress in 1916, had
been in operation seventeen years when
the present Protective tariff was adopt
ed. The condition of the business and
finances of the country during the four
years preceding 1861 is fresh in the
minds of all persons old enough to ap-
preciate it. Some idea of the fruits Of
Revenue tariff" may be had from the
effects of the one then in operation upon
the credit of the government. In De-
cember, 1860, owing to extreme needs in
meeting daily expenses, congress pro-
vided for the issue of treasury notes,
payable in one year. OF these $40, 100000
were issued, the discount on which
ranged from to 12 per cent. In Febru-
airy, 1861, per cent. loan Of $25,OOO,-
900 was authorized, of which only $751;
900, 200 could be disposed Of. Those sold
brought only eighty-nine cents on the
dollar So desperate was the condition
of the national credit that the Demo
cratic secretary of the treasury even
suggested that the states be called on to
lend their credit as basis for borrowing
money to meet current expenses. So
much for the 'tariff for revenue only"
of 1896
Alongside the foregoing picture of
business prostration and national dis
credit let us now place brief view of the
state of things to which seventeen years
of Protective policy brought the country.
This is most succinctly done from official
sources, showing the growth of the ma
ton in population, industries and COM
merce during the period named-from
1850 to 1880.
No such showing ever was made by any
other country in the worlds history, as
none other is found in the record of this
country. The advances shown by the
figures cannot be duly appreciated. Look
at them-60 per cent. increase in popu-
lation; 2t2 in farm lands; 1888 in wheat
and 105 in corn production; 1908 in ex-
port of wheat, 9, 1862 of corn, 2S6 of wool,
$50 of merchandise; while the enormous
balance of $5s, 900, 900 of coin exported I'M
der the tariff for revenue" was changed
to SIG, 900, 600 balance in imports of that
important commodity.
With all this it must be remembered
that the first years of the period last
named were covered by the most gigantic
civil war that any nation ever was called
upon to wage-involving, as it did, a
waste of Sc, 900, 900, 900 in values, and the
lives of half million of the most valu-
able citizens of the country.
How much more conclusive is such
showing than all the fine spun theory Of
clustered metaphysicians. The people
may be for a time mystified with alb
stractons, but these soon disappear in
the light of facts. The above table con-
stitutes bulwark for Protection which
no assaults of Free-trade theorists can
overcome. 1t is showing of which every
true American will be proud, and is to
be accounted for only as the result of the
benefcent policy of Protection to Ameri-
can industry. Shall that policy be now
abandoned?
The figures of the census of 1890 are
not yet at hand. While it is certain that
these will abundantly sustain those of
1880, they will lack the essential advan-
tage of the latter in having no period of
''tariff for revenue" for contrast with its
grand showing. 1t becomes the Ameri-
can people to see to it that no such back
ground of Free-trade darkness is here
after admitted to their decennial horo-
scope.