Middletown transcript., 1892-10-06
MIR. BAYARD IN BROOKLYN.

The following is an extract from an
address to the Kings County Demo.
cracy. by Hon. Thomas r. Bayard, in
Brooklyn, N. Y, and which we pre-
sent to the earnest attention of the
farmers. workingmen and business
men of this community:
In view of the admitted condition
of our foreign commerce and our
ocean-carrying trade, and the untran-
quill condition of American labor, is
it not time for the American people
to arrest and change policy that
has led US to where we now stand? !? Is
it not time to rescue the sovereign
power of taxation from the private
control called protectionism and re-
store it to the true justification Of any
taxation-the procurement of revenue
for the promotion of the general well
fare of the American people The
principles of the tax laid for revenue
only and tax laid for the promotion
of private interests, and strangely
styled protective are in diametrical
opposition. The tax that has only
revenue as its object encourages COM
merce-because it depends upon an
increase of importations. Its object
IS, therefore, consistent with an in
crease of commercial exchanges. It
is a burden to be paid for but capable
of accurate estimation. It is wholly
public and therefore capable Of de-
finite ascertainment. It's suficiency
for its purpose can always be known
and its entire sum reaches the public
treasury and spares the imposition Of
other public burdens. 1t carries with
it another and most important result,
that it does not sacrifice and destroy
the explicit right SO wisely secured by
the constitution to all American pro-
ducers, agricultural and manufactur-
ing alike, of exporting free from tax
or duty. As exchange and barter is
commerce, the system of taxation for
revenue upon imports which, for its
successful operation, depends upon
free and profitable expectation in
order to secure imports, upon which
it is levied, demonstrates the wisdom
of system that has for its founda-
tion the healthful expansion and exer-
else of the productive powers of. its
country.
The true intent and the necessary
result of such system of taxation is
manifestly to blend the interests of
commerce and navigation with those
of agriculture and manufactures. 1t
was by such means that our fore.
fathers planned to frame that more
perfect union-the union of the in
terests Of all classes and occupations,
which were to be considered together
and were to flourish together. Agri-
culture and manufactures were, in
deed, to be the handmaids of COM
merce.
Turn, now, to the Republican policy
and plan of protectionism as opposed
to the Democratic system Of imposing
taxes for revenue only.
Protectionism is for the promotion
of the private interests of its benef-
Charles. Who determines the rate of
the protective taxi Who decides its
necessary amountf What sum will
be sufficient to protect? The business
to which it relates its private and in
dividual the sources of such inform
alton are not public. Within a few
weeks we have heard the peremptory
refusal Of the manager of the great
firm of Carnegie l. Co., to inform
congressional committee what was the
cost of the production of commodity
upon which a heavy protective tax
was imposed against foreign competi-
ton Therefore, it becomes impossible
to learn with any approximate ac-
curacy how much is needed for pro-
lection, or how much is actually paid
in increased prices by the great body
of American consumers. But this is
plain That the protective tax is abb
solutely antagonistic to the receipt of
revenue. It's profit to the favored
beneficiary depends upon restricted
Importation, and restricted importa-
ton not only means diminished re-
venue but equally restricted markets
abroad for American productions. Re-
stricted markets mean diminished de-
mand, and that means diminished en-
ployment of labor and lower wages.
Thus tax laid for protection has
no measure, no limit, and is incapable
of public estimation because private
profits cannot be compelled to be
disclosed and individual greed has no
known limit. King Solomon told us
of four things which say it is not
enough and where he alive today
he would add tifth-the demands of
the protected class according to the
gospel Of Mr.. Mckinley.
Thus before the American people
are displayed the antagoDistic princi-
Piles of two systems of taxation-the
democratic principle or a tariff for
revenue only-a definite and public
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