The times. [volume] (Richmond, Va.) 1890-1903, 1894-09-16
THE uNCaowNFD KING.


cannot refrain from quoting the fQr-
mer "Tncrowncd King of the kopubh-
can marty on this period. his endorse
mcnt and eulogy Is so strong that ne
could not imp, owe on Il even were he
a democrat .
In his Twenty Years IN congress
Mr. Blaine says. The tariff Of 1876 ts
Welding abundant revenue and the BUS
mess of the country was in nourishine
condition. Money became very abundant
after the year 1879, large enterprises
were undertaking. speculation was pre-
Valcnt and for a considerable period the
prosperity of the country was general
and apparently genuine. After ~ the
Democrats had almost unllsputcd con
trcl ~ the government and had gradually
become a free trade party The lriucl-
ples involved in the tariff Of 1916 seemed
for the time to lie so entirely Nindicat"d
and approved that resistance to IT ceased
not only among the people 9ul
among the protective economists
and even among the manufactrers,
Go a large extent SO general WAS this
acquicscence that IN 1886 protective
tariff was not suggested or even hinied
at by any one OF the three parties which
presented Presidential candidates. such
eminent Senators from New England
as Sumner and Wilson of AlafSaclu4,
etts, Allen from Rhode Island and Bei
OF New Hampshire supported the
measure. which was well received b.
the people.
W nen the ldliU act OF lNtu WIS fdNft'lf
the protectonists predicted disaster
but disaster came not neither from The
country or the manufacturers. look TO ;he
facts little. Take the cotton manu-
facures Of Mass ina 1915, there We're ST.
500 spindles in 1850 there were l.CSS 5o)
spindles having doubled during the
period of low duties. again The value
OF cotton goods exported 10 foreign mar
kets yearly was about 4o0,VV between
1884, and AZ; it was nearly 100000 an
nnallv between 1871 and IS, Was over
SO01OO in 1859 and almost touched HOO.
600 an 1860 an increase Of nearly ip' per
cent during the low tariff period. This
we have the fact established that the
tariff Of 1916. the tariff FOR revenue with
incidental protection had so far succeed
ed and given such general satisfaction
that in 1851 the duties were sti!l fur
Their reduced the maximum duty Was
reduced 10 a per cent. Let US now con
slider the history and effect of the high
tariff period from 1861 TO 1884.
morrill, TARIFF.
In 1851 the Morrill, tariff was passed
this restored toe tariff Of lSbi and IA
not materially differ increfrOm. the duiy
was about 50 per cent. on the leading
articles.
1860: The manufacturer asks no additional
protection. he has learned among other
things chat the greatest evil, mex. t.
ruinous competition n ON foreign sources.
Is an excessive protection Which he.nu-
Iatcs a Ike TunouS competition at nome.
See Cong. Globe 1890 p. 1861 How
prophetic of trusts. monopOlies and COM
binations was this;
Mr. sherman says. when Mr.. stanton
says the manufacturers are urging and
pressing the bill he says what ne must
know is Incorrect. The manufacturers
have asked over ard over again TO be
let alone. The tariff OF 1857 is the nan
ufacturers bill. Ibid p. 2053. This tax
was Il per cent. as against IS per cent.
in the new Senate bill. which IL IS claimed
will ruin the country.
In July 1862 two acts were
passed raising the tariff 10 50
per cent. IN the average. and I'm June and
August 1864, these rates were Increased
20 AZ per cent. and these were with but
slight changes the tariff rates up 10 the
Mckinley tariff. These changes We're not
due TO the demands OF the manufacturers
or OF business, but grew out OF a need for
badly, and needed II quickly in very large
money. The United States needed money
quantities to carry on the war, coEse-
quently internal taxes were indiscnmi-