Year: 1870

H


We publish in another column call for great
free trade meeting in New Y York, signed by many
of the Oldest, most influential. and wealthiest
merchants and bankers Of that city. Appended
thereto we add the resolutions unanimously adopt
ed by the Cincinnati Chamber Of Commerce,
calling for a revision Of the present tariff, and
against the bill now before Congress. The action
of the Cincinnati merchants, and the proposed
action of the New York merchants, are significant
facts which Congress cannot afford to ignore
They are unmstakable evidence of the drift Of
public opinion. The experience Of the last half
dozen years has been most efficient teacher, and
the public mind, hitherto absorbed in purely poll
tcal and social questions, has become enlightened
upon the great laws Of political economy and the
impossibility Of disregarding them without com
mercial and financial distress. That trade, both
domestic and foreign, is seriously depressed, and
the continued prosperity Of the country seriously
threatened, are facts about which there is no dis
pute in any quarter and the question is ss to the
true and effective remedy. On the one hand, are
the advocates of high and even a prohibitory
tariff to protect as they affirm, domestic indus
try by piling taxes upon it; on the other, are
those who maintain that as freedom in trade is
natural law, being nothing more nor less than The
rfghtto trade We not only cannot disregard 1t with
impunity, but that the nearer we approach to an
entire obedience to it, the more certainly We shall
secure the good Of the whole. Experience, for
the last few years, has rapidly and completely
justified these abstract principles Of the latter
class. Those to whom the science of political
economy was not familiar as a study have learned
by painful practice that just far forth as there
has been an attempt to build up and cherish pri-
vate interests-the interests of the few-by legis-
lation. the public interests--the welfare of the
many--have been wronged or ruined. The ques-
ton has come home TO every man who labors
with his own hands; to every man who exchanges
the products of the labor of others; to every
man who wins his bread from the SOIL or who
uses metals or fabrics in manufactures; nay, to
every man who clothes and feeds himself, or bis
wife and children by the fruits OF his toll
And a remedy is sought for in a return TO
obedience to natural law. The protective sys-
tenn has been weighed and found wanting
Restrictions upon trade have been proved to
work evil. nothing but evil, and that continually
to the great mass Of the people, while they have
corrupted legislation and demoralized party in
the private interests of great monopolists. The
people suffer that few may grow rich the poor
man is reduced in the quantity and the quality of
his food and his elothinO and his fnei and the
rate of his wages, that the rich man may add his
hoard by a portion Of what the other loses
Paralysis and stagnaton have settled down like
dismal and portentous cloud upon the whole; in
dustry of the country, and even those private
interests which it was meant to help, are begin
ming to suffer from the inevitable reaction which
must come from a systematic attempt to ruin
their CUSTOMERS 1t is time then TO return to
first principles. Having learned by bitter practi-
cal experience how vicious, and mischevous, and
idle 1t is to attempt 70 turn the current of trade
and industry from its natural. that is to say, its
most economical channel, by the fatal policy of
protection. the time is fast approaching when the
people will insist upon trying the other expert
ment, and learning BY practice whether they can
not better their condition by leaving trade, and
commerce, and industry to fow on as the AL
mighty left them. unvexed by foolish aud vicious
legislation We hail the movements in New
York and Cincinnati, as cheering signs of the
time and we trust that the commercial bodies Of
his city will soon take some similar action.
: Chicago Tribune.