Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1892-08-04

kGlS, II Dul1OS up anu llldlllldlIlS
every home industry to the end
that we may become independent
of all the world by manufacturing
our own fabrics rather than buy
ing them abroad, and by the
activity of its manufactures and
productions, operating under the
invariable law of supply and
demand, furnishes profitable en-
ployment for labor
DOES IT ACCOMPLISH THIS?
We have tried "free trade"
several times. AS often as the
county arrives at high pitch of
prosperity swarm Of glib-tongued
demagogues arise and undertake
to demonstrate that somebody is
being robbed for the benefit of
somebody else. A partisan press
without any regard to the facts Of
history ring the changes on the
same old tune. Now it is a part
Of the we'll established history of
the country that the business
interests of the United States were
Frustrated by the low tariff
legislation of 1917. In 1920 the
average rate of duties were
increased about thirty per cent
and ranged between thirty and
forty per cent for a time, and when
highest the country was most
prosperous. But the reduction
that began in 1882, reaching an
average duty Of only fifteen per
cent in 1884, ended in bankruptcy
in 1887 when the average duty
was only twelve per cent. An
increase of duties in 1912 again
brought prosperity which contin-
ued until the revenue tariff of
1916, under which came again
disaster and bankruptcy. Again,
in 1857 the average rate Of duties
were reduced to seventeen per
cent which increased importations
in that year to an enormous extent
ending as usual in general distress
and bankruptcy. The panic Of
1873 was caused by a contraction
of the currency and had no
reference to tariffs. Thus the
unvarying testimony Of the fnan-
cial history of this country shows
that low tariff or tariff for
revenue" has brought with it
stagnation in business followed by
distress and bankruptcy. The
Gree trader" cannot point to any
two consecutive years of-not
prosperity-but Of even freedom
from money pressure and bank
ruptcy under any low tariff act
this country has ever had. Under
a protective tariff we can point to
thirty years of unexampled growth
and prosperity. Two years ago
the Republican party put into
operation the Mckinley tariff act
what has been the result? Let
us close this article to-day with
the following summary of the
report of Bureau of Statistics:
S. G. Brock. chief of the bureau of
statistics, has completed his statement
of foreign commerce for the month of
June, 1892, and for the year ending
June 80, 1892. 1t is as follows:
The aggregate value of our imports
and exports of merchandise attained to
its highest point amounting to 81 3d.
726,91O, as against 81, 729, 397 ,006 during
the fiscal wear 1S91-an increase of
S12S, 329, 904 and an increase of $370, 1888
SS3 since 1889. This is also a very large
increase over the average annual
increase for the years from 1882 to
1891, which was S25, 421 ,517. Since 1889
American commerce has been making
tremendous strides. There was an
excess in the value Of the exports of
merchandise over the imports of
1922, Oh $40, 49, very large balance of
trade in our favor.
The value of our imports of merchan-
disc during the last fiscal year was
1927 ,391 ,2S4, as against Ssh, 916, 1856 for
the fiscal year 1S91-a decrease of
| 81 ,524, 912, but an increase of S114 $40,
| COG over the average annual value
of imports for the past ten years.
coffee, raw silk and sugar, but decrease
lures of silk, wool and tobacco and
vegetables, fruits and textile grasses.
The value of imports admitted free of
duty was S45S, OOi ,145-an increase over
the fiscal year 1891 of S91, 759, 1913. AT
the same time the value of dutiable
imports was 1869 1896, 139-a decrease OF
S1O9, 2S4, 705 for the fiscal year 1892 from
like imports of 1891.
The total value of our exports OF
merchandise during the fiscal year 1892
was 81 ,030, 335, 626, as against 1884 ,4S0, $40