The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1892-09-01
- nae TafiM Hissory.
FACTS ron vo1KKs.

We puhli.h on The fret psge 80 eI'rsc
rom ,he lie Of Henry Cl,y. showing ih,
need for. aud the prosperity secured b,
The adoption Of toe high protective tsrif
Of 1925 Uoder this act the North wbict
did most OF the manufacturing. grew II
esltb spd population much fa,ter tbsr
the South aud this excited the Jealousy o.
John g. Calhoun aud other southern lead
RS. Who declared protection upcoDstitu
tionsi aud the tariff laws void.
South Csrolius went 30 far ~ to uulli
~ the tariff laws hut President Jackson
came TO the rescue, giving II ~ bis opinion
that the laws we're constitutional and
tbe whole force OF the government should
be used 10 executing them. He even
threstened to hang C.Ihoun. This served
TO put down the incipien. rebellion for The
time. but the suutherners continued their
threats TO make trouble uoiess the tariff
should be taken of Und,r this pressure
Congress agreed upon . compromise measI
ure. Clay conss nting. BY which ten per
cent Of the tariff should be removed each
year. This policy was continued, the tar
If being gradually lowered until the crash
Of 1887. which history tells as was the
worst that ever beiel this country. There
vas universal bankruptcy and oil kinds OF
business wer 0 st st . complete stsndstill.
The result was complete overturn Of
the Democratic party and the triumphant
election OF harrison 10 ls4J, and high
tariff Was enacted III 1912
The South, however. protested. and sf
ter few years tue tariff was again lower
ed. No financial Revision followed for
several years and business continued fairly
prosperous. IL was during this period,
however, thst the California gold mines
were discovered. and 10 ten years $780,
600, 900 IN gold WAS taken out of the ground
and added to the wealth Of the country, or
would have been so added, had II not taxi
en- the full smount 10 pay our foreign
trade balances which were heavily against
as oil these years
During this period, also occurred the
Crimean var which claimed the full stten,
ton OF the Nations Of Europe and proven,
ted their taking full advantage OF our open
markets. The famine in Ireland also oc
CURED during this period which added
largely to expors Of farm products.
When these external causes ceased to
operate business depression Il Flowed as is
shown by the message OF President Buch
spsn in which be complains bitterly Of the
aud business ststs Of the country
II IS show o also by the fact that in 1850
the govt was obliged to pay ct the
rate Of IL per cent for borrowed money.
Ii 10 . curious fact thtt John G. Cal
houn took the sane ground that the Dem
ocrstic party Of TO day bias taken under the
lead Of Henry Wsitison, q southerner.
that . protective tariff is unconstitutional
DOT vithsisnding the fact. that the second
set parsed by The first congress. in which
were many frsmers OF the cont tuition.
wss = Irit.cive fl and no claim was
then made that it was cot trsry to the con
stituion
Mort Of the above facts ere stated very
clearly iu Horace Gr.elry's book, THE
Great American Con ficl. and be ought TO
be good authority for our Democratic
friends. since he vas once their candidate
Tor Psrsident