Year: 1878

10 the Edtt0f OF the PreSS:


The New York Herald Of May 3Ist has an
editorial entitled "Free Ships and Enlarged
Commerce" which deem unwise and incor-
rect in all its conclusions, calling for careful
investigation of its influences upon American
industry should the propositions there sug-
gested be adopted by our Government. The
writer says "When it is desirable to set me-
chanic to work, it is necessary to let him get
the tools of his trade, and master carpenter
who should hurry up hundred men, urging
them to get to work with saws, planes, augers,
chisels and hammers, but i'll the same breath
forbidding them to buy their tools in the most
convenient and cheapest shops, would be
thought very silly fellow. The capitalist Tor
whom he had contracted to erect row OF
houses &C., &C., would not have very ex-
alted opinion of his contractor, and would be
sure that he could not consummate the work
he had engaged to do"


Now this reasoning Is correct, and no man
would differ from the writer in his remarks.
But let us go little further and suppose that
these men have no money to purchase the tools
they require to give them employment as me-
chanics ander master carpenter, but that





pository ready to supply all the required i'm
plements for less than the interest of the
money on the cost of the same. Is it not quite
as well as to purchase and get into debt? Can
not they do their work aswell?


Now this is true in regard to our exports at
this time. The immense crops of the country,
the manufactured goods, the cattle. the hogs
the lumber, and other production of the United
States require far more tonnage than we own
to carry them to market.


All the maritime nations of the world are
begging for the carrying trade of this country,
at excessively low rates of freights, lower than
we can build ships and take, and this very fact
enables US to send our goods and productions
everywhere; in all markets to successfully
compete with the mercantile world. The
freights on our exports are paid by the con-
sumers, and in nowise come out of our produc'
ers and manufacturers. Low freights there
fore, enable foreigners to purchase and
consume more freely. I regard all this as
Provdential to bring the balance OF trade
in favor of this country, and make the ma
tions of the earth contribute to our prosperity
and assist us in wping out the terrible fnan-
cial consequences of the rebellion.


will now quote from former letter in re-
gard to the commerce of this country. "When
| the civil war commenced, our ships were found
| upon every sea- competing with Great Britain
successfully for the carrying trade of the
world, and but for the war to-day our ton
| mage would far have exceeded that of Eng
land. When the war began every maritime
| nation in Europe saw an opportunity t.
| profitably employ its tonnage; and by purchas
| ing and building ships, to secure what we mas
inevitably lose. For six or seven years freignt-
ing business was very good, and after the war
our merchants with their usual enterprise, Do
gan to build vessels at ruinous prices, causeo


by an inflated and unsound currency 10 re


place our commerce. This with what wa


built iu Europe, has resulted in too much ton


mage for the commerce of the world and tn


result has been most disastrous to ship owner


everywhere. Great Britain is now suffering


more than any other maritime nation. ou


country has suffered less than any other com


mercial nation, our tonnage had been SO greati
| reduced by the war; Shipbuilding has cease


in a great measure, anon all maritime nj