The Montgomery tribune., 1910-02-25
Editor Tribune :

4 WOrus IN ienRVns Il
Editor Tribune
l closed my article on the tariff
last week with the adoption of the
protective tariff act of 1S42, and I
showed by the messages of Presi-
dent Polk, how prosperity had re-
turned to the country after q
blight of finanoia adversityr caused
by a L" Tariff for revenue only. "
Not content, however, with these
improved conditions, in 184o Con-
gress passed another tariff measure
for revenue only, reducing the av-
erage rate of duties on imports to
25 per cent advalorum. And again
in 1857 further reduction was
made to 20 per cent, both of
which acts eliminated the protect
i've features of the laws of 1903
1816-1S24 and 1S42 heretofore men
toned. The Mexican war of 1S47
and the discovery of gold in Cali
fornia in 1S49, in the first half of
this Tariff for revenue only I"
legislation, saved the country from
any serious financial embarras-
ment, but prices for farm products
were ruinous, some of which /
we'll remember. In the spring of
1S49 my father, who was then liv-
ing in st. Louis County, Mo-,
bought fine yoke of ave-year old
oxen from a neighbor for $50. to
make the trip to California.
drove some sumtous fat hogs to St.
Louis in the winter following and
sold them to packing house.
They were butchered and hung up
over night, weighed the next morn.
ing, and got for them S1.75, $1.5C
and 50, per hundred pounds net
weight, according to size. Mules
and horses sold at the average
price of from S25 to $40 per head,
milch COWS were worth from S5 to
$40, and other farm products in
like proportion. In the last hall
of this period of low tariff the gen.
eral financial crash came, and car
be better described by another low
tariff president than l can express
President Buchanan in his mess.
age to Congress December 6, 1858
said this When Congress me,
in December last the business oi
the country had just been crushed
All were experiencing sad reverses
at the same moment. Our manu-.
factures every where suffered
severely, because there was no de.
mand. The people were obliged
to restrict themselves in their pur.
chases to articles of prime neces
sity. In the general prostration Of
business the iron manufacture in
different states suffered more thar
any other class and much distress
was the inveritable conseqence
among working men. In the same
message he recommended the is
suing and sale of bonds to pay tn,
running expenses of the govern
ment. In 1851 Mr.. Lincoln sue
ceeded Mr.. Buchanan as Presiden
and who was an avowed protective
tariff advocate, for when he an
nounced himself as a candidat,
for the Illinois Legislature, afte
his return from the Black Hawl
war, he said his platform was ,
high protective tariff internal i'm
provements and a national bank
ing system. Not long after Mr.
Lincoln became President o pro
} tective tariff system was agail
inaugurated with his approval anc
which continued to be the settlet
policy of the Government until tn,
second administration of Mr.
Cleveland when it was suppressed
ed by the Wilson Oormau
tariff law, tariff for revenue only
Notwithstanding distructiv'
civil war and CONSEQUENT enorm
GUS accumulation of public debt
the country grew and prospere,
beyond the dreams of imagination
; in Agriculture Mining, Manufact
,, uring, railroad building, nationa
: and international Commerce an,
in the meantime discharged tw,
billions and 636 million dollars @
public debts. Warner Lewis.