The times. [volume] (Richmond, Va.) 1890-1903, 1894-02-01

M Wilson's bill is framed not only IN
defiance Of the Democratic doctrine that
taxes should be so laid as to bear equally
upon ali. but IL is framed with 10 regard
whatever 10 the developing state of this
country In its commercial relations TO the
rest Of tie world. For many years we
enjoyed something approaching 10 a mo-
nopoly in furnishing the rest of the world
with the grain. meat, petroleum and cot
ton that 1t bought. But of late years
other parts OF the world have been steadi-
~ increasing their surplus supplies OF
these articles. forcing our profits from
them lower and lower until we have
perhaps reached our maximum produce
tion Of them, If indeed it does not di-
minish. 1t is not givcn to man to fore
tell how far the opening Of the virgin
continent OF Africa may make an export
OF what We have heretofore sold thing
of the past Our population has for some
time been growing at the rate of one and
three-quarter millions per annum and
from natural accretions and foreign imi-
grafton together. it win much more pro-
baby increase in annual growth than d.
minish. What VIII become OF this annual
increase? 1t viii not be likely to go into
agriculture with diminishing demand for
our products. 1t is far more likely 10
turn to manufactures
One thing that our experience with
protective tarin proves beyond question
is that It's first effect is to raise prices
It's next effect is on account OF the high
prices that it causes 10 multiply compe-
tltion and thereby to put down prices
and the third stage is the formation Of
the trust" whereby factories are Closed
ana production Is diminished, though
prices TO the consumer are again raised.
These three propositions are proved beyond
possibility of successful questions by our
experience with a protective tariff.
Very well. With the tendency to agricul-
ture diminishing all the time and the
consequent tendency TO manufacturing in
creasing all the Time what is the inevita-
bic effect OF a protective tariff? 1t is
necessary TO circumscribe the limits OF in
e""s't"' fAUNNNpViS Npblu te&Nt
placed II the trust did not close facto-
ries and abrdge manufactures to that |
extent But as the abridgment is an art |
fetal one struggling for life or death with |
Al natural tendency of an immense mass |
OF men the abrigging power OF The trust" !
VIII be s'mashsd. while manufacturing |
Will ind WAYS 10 open up the avenues to |
Itself that the protective tariff operating !
through the trust" would keep closed |
10 II. Nevertheless. manufaotvr under |
such conditions, Will find itself badly |
handicapped. For. TO say nothing OF the |
restrictions OF the trusts" as we have
protective tdrin. so will other countries
have rctaliatory ones which viii place
crnbarrassments in cur way that will sad
~ interfere with our attaining the best re-
suits. our Inventive turn, our free insti-
tntions. our progress and "go' that come
out OF our free institutions. have made
20 excel the world heretofore, wherever
It was our interest TO compete with II.
ana II Is perfectly certain that we Will
continue 70 excel !, In every direction that
necessity causes us 10 turn our hands.
What then Is the next result OF the case?
II V that Industrial conditions are pass
ing through change in the United States.