Year: 1866

soon cease to be merely what is called q sr.in-
growing State. Her advantages of water com.
muuication, by lake and river and her maenis-
cent railway improvements, will enable her to
leap at bound into the front rank of manu-
facturlng States. Wealth and population ia
all she now needs to this end, and these
she Is acquiring in the most rapid manner.
Missouri and Iowa have equal natural advanta-
ges. possibly superior, and are certainly not
without ambition for a friendly race on the
same course. At present these and other
states are dependent for a market for their ag-
ricultural products upon artisans employed out
side of their own limits. Will it be wise for
them to destroy that market and at the same
time to postpone indefinitely the idea of build
ing up market at home ? Do they wish to
drive all parts of the country into the pursuit
of agriculture alone? l have before said, and
repeat 1t, that within the lifetime of some of
US who are now present these great western
states are destined to assume the preeminence
IN manufactures Cheap coal, cheap bread
ahd cheap meat all point in this direction
They have, therefore. more direct and abiding
interest in the tariff than any other portion of
the Union. There should at least be no local
or political jealousies on a financial question of
this kind which is so interviewer with the fu-
ture power and greatness of country.


There Is about the usual amount of hue and
cry from free-trade quarters, from milonaires
enriched by foreign trade, against the present
tariff bill. Hired hack-wr,ers are particularly
active IN defaming the measure. New York
city appears to be the center from whence
most OF these denunciators emanate. 1t is
also the prolific mother of free-trade PAM
phleteers. l am proud of that great city which
takes such an active and controlling part in the
commerce of the world. But even there for
eign commerce is not ali that should engage
fhav ,rrxA- r Il
Is the seat of great diversity of manufactures
and of the mechanic arts. The amount of
their productions In the aggregate is immense,
and the number engaged stherein, though not
the ruling class in political economy, must be
far greater than all who are engaged in or de-
pendent up foreign commerce. Crippled by
meny clrcums tances during the war, L would
gladly do anything to restore our ship-owners
to their former prestige, but they ought not to
require legislation for their exclusive benefit,
and to the detriment of the whole country.
Let all parts of the country prosper but if one
part of the country only can grow at one and
the same time, shall We not prefer a new State
IN the West with half million of people to
the addition of that number to q city already
SO swollen in numbers that it sometimes
threatens to withdraw that fealty which is due
to It's State.


L cannot forget that equal hue and cry





forth st the time of the passage of the tariff Of
1861. That tariff has since been largely in
creased, and yet Its present rates have fully
Vindlcated the measure, aud those who first
stigmatized it prohibitive monstrosity now
admit Its general propriety, and maintain that
it is exactly what nee ded s revenue tariff
Nothing that we do now be but for tempo
rary purposes. Ii We had been able to reduce
our currency no action on the tariff would be
IL h.. II
stractlon whether gold has risen IN value or
whether paper has fallen. The fact stares US
IN tina face that it takes a very large sum of
our paper money to buy small amount Of
property Our currency measured by gold is
only three TO two, and the value of gold it.
self, the standard,by its unprecedented increase
for the past fifteen years throughout the
word has beyond any doubt largely dimin-
ished.


The fair question is, whether we shall ignore
these facts whether all not the 9TH
er hand do something to take of the
rlOus Industries of the country for the time be-
ing, until have funded national in
debtednesss, and retired the excess of legal
tender notes p? 1t is question whether or
not the aoorer shall be compelled to reduce
his wages before the value Of our present cur
rency is increased. Ii the products of his la
Dor have got to be sold for less, it is plain he
must work for less Capital will seek and
prefer ldleness to loss. Ii will not employ la
Der and get nothing in return. II is, therefore,
a question which mainly concerns labor, oapi-
tai always being able to take care Of itself.


Let us look at the extrayagancies proclaimed
as 10 the rates proposed on iron. l am free
to say that moderate increase of the present
duties upon iron and maintenance of the ex-
istiug classification might have been the wisest
and most prudent course to adopt, but others,
to whose opinions and votes l could not but
defer, thought differently, and l trust they will
stand by their opinions now in the hour of tri-
al. The new classification, by placing lower
grades among the higher, increases the rates
of duty quite as much as any nominal addition
Thereto and by singing out the various des-
criptons of iron manufactures for specific du-
ties, in temporary measure, where such arti-
ces only were to be touched would afford
some prospect of additional revenue, such
were IN imminent peril of extinction from
foreign competition, l foresaw would arouse
jealousy difficult TO appease, and also that no
symmetry could be preserved 10 the bill. Hav-
ing gone SO far in that direction we could not
refuse equal claims presented in other quarters,
and yet We had not the time for complete re-
vision of the whole subject.


But look at the present price OF bar-iron in
our markets and whether after all the bill
is really so very Objectionable. 1t will be found
quoted at $115 to 125 in currency per ton, and
We bave raised the duty five dollars for $50
up to S25 in gold per thousand pounds. Up
on cut nails We proposed two cents pound.
The present price is seven cents, and 1t would
not be any less if The duty was put at one and
a half cents. Common sheet.irOn is worth
from six to eight cents per pound, and the du-
ty proposed is from two and quarter to two
three quarters per pound. Russia or polished
sheet-rOn is worth tweDty-seven to twenty
eight cents per pound in currency, and the du-
ty proposed is four cents per pound in coin.
These duties high enough, but they are not
high to frighten grave Legislators from
their propriety.


Let look at some other features OF this
bill. Take ten by fifteen common window
glass. The price is 81 IS per one hundred
feet, and the duty Ill amount to 81 rs. Pig
lead sells for eleven cents per pound, and the
duty proposee is three cents per pound. Cop
per is now worth about thirty-two cents per
pound, and the duty proposed is five cents. In
consequence of the duty upon cotton some
compensatory changes have been made upon
few articles, but the main bulk OF cotton
goods remain as heretofore. The duties upon
lumber at the termination of the reciprocity
treaty were in much need of revision. These
in the main as they stand in the bill are now
believed to be satisfactory, though if the bill
had been accepted on this subject just as 1t was
reported, l am inclined to think all parts OF
the country would have been better suited.


On the subject of wool and wOolens q tariff
with increased rates seems to have been
expected by the whole country. The Ques-