Year: 1871




We have seen that Mr.. Wells, in January,
1859, officially reported and proclaimed that
within the last five years. (notoriously years
of PrOtectiOn)


"Alore cotton spindles have been put in operation,
more iron furnaces erected iron smeed bars
rolled, more steel made, more coal and copper mined,
more lumber sawed and bewn. more houses and shops
constructed, more manufactures OF different kinds
started and petroleum collected refined, and ex
ported than during any equal period in the history OF
the country and that this increase has been great both
regards quality and quantity and greater than the
legitimate increase to be expected from the normal In
crease OF wealth and population"


During those five years, we had finished up
our Civil War, dismissed more than One Mil
lion men (Unionists and Confederates together)
from military service, and recalled the most
of them to the pursuits of productive industry.
We had repaired much that had previously
been destroyed by the waste and ravage of a
war fought entirely within our own country !;
we had made considerable progress in re-
stocking our farms and plantations with the
Cattle, Sheep, and Swine, which the War had
thinned out we had reestablished our Cotton
growing; we had grown our own food and good
deal for export we had discovered, opened, and
worked hundreds of new and valuable mines OF
the precious metals we had paid promptly every
farthing of interest Oh our vast National
Debt and considerably reduced the principal
from the point at which it stood when our
armies were disbanded and we had added not
less than Twenty Thousand miles to the
length of our Railroads, at a cost of at least
Five Hundred Millions of Dollars. And Mr..
Wells himself, speaking at the Revenue Re-
FORM dinner in our City hardly year
since, pronounced the rapidity of our recovery
from the depressing effects of our great
contest marvellous" All this, mind you, was
effected under Tariff identical in principle
with, but considerably higher in its average
scale of duties than, the present.


Now compare this with the experience Of
our eraudfathers for the four, six or eight
wears which followed their Revolutionary
struggle. Look through any respectable his
tory of that period, and note how crushing
was the stagnation of industry, how general
the cry of distress. See sober Massachusetts
conyulsed by the insurrection headed by Gen.
Daniel Shays-an outbreak impelled by
intolerable pecuniary suffering. Every
one was in debt; no one could pay;
labor was without employment; produce
without market only the sheriff and his
deputies were busy serving wrts and issuing
executions. How happens it that misery was
then so general, while prosperity is now the
rule and bankruptcy the rare exceptionf We
know why this is thus does not Mr. Wells


Again, after our second and last war with
Great Britain-a short war, wherein our ener-
gies were not taxed to tithe of the extent
that they were in the late War of Secession


H.. hon bot,, al
and crushing was the pecuniary revulsion, the
industrial paralysis, of 1S17-22, from one end
of the country to the other. Again sheriils
and their deputies were busy and prosper
Gus, while nearly every one else but few
misers and usurers was parayzed, poverty
stricken, and intent on saving part of his
substance from the general wreck. Read the
sad debates in Congress, the petitions OF the
people, and note how general and unques-
toned was the cry of distress, the wall of the
suffering millions, standing unavailingly idle
and hungry, while our marts were gluttcd
with British wares and fabrics, selling al
very low prices, yet dear at these, be-
cause the people had not the where
with to pay for them. Before Mr.. Wells in
sists that we throw down the barriers which
| public opinion at length constrained Congress
to put up against excessive, destructive I'M
portation, we urge that he ought at least tC
attempt to show why such general prostration
of industry and experience of bankruptcy fol-
lowed our War of 1852 and that of 1925
and did not follow-he being judge-the more
tremendous, exhausting, destructive, devastat
ing Civil War of 1865. Why mott





THE GREAT MISTAKE.


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