Democratic Sentinel, Volume 12, Number 24, Rensselaer, Jasper County, 6 July 1888 — Prosperity ruder Democratic Tariff [ARTICLE]

Prosperity ruder Democratic Tariff

From 1810 to 1861, under the tariff law my friend denounces, the tonnage of *ur shipping engaged in foreign trad* increased trout 943,807 tons to 2,493,894 tons, an increase of almost 800 per cent.; and from 1861 to 1887, tinder tariff law* which he commends, onr shipping gradually decreased until, aceordingto the last report, we have but 989.412 tons of shipping engaged in foreign trade, showing a loss under Republican rule of two thirds of our foreign tonnage. Again, in 1861 American vessels carried 66 per cent, of our exports and imports, while today but 15 per cent, are carried in American vessels. Our exports of domestic merchandise were only $101,907,734 in 1846; In 1860 they were 0310,242.423, an increase of more than 300 per cent. We had but 4,930 miles of railroad in 1846, unci in 1861 we had 81,288, an increase of moro than COO per cent. The historv of our country snows that our manufactures flourished between 1846 and 1860, but I can give no accurate data. The census of 1850 and that of 1860, however, givo accurate information of the marvelous increase of that industry during that period, under a strictly ad valorem tariff. The capital invested In manufactures was $533,345,851 in' 1850, and $1,009,855,715 in 1800, an increase of nearly 100 per cent. In 1850 the materials used in factories were valued at $655,128,822; iu 1860 the consumption of material amounted to $1,081,005,093, an increase of 100 per cent., and the products of t bate establishments was $1,019,106,016 in ~18.50 and $1,855,861,0111 in 1860, an increase of nearly 100 per cent. The assessed value of all property in the United States was $6,034,666,909 in ISSO and $12,084,560,000 in 1800, an increase of more than 100 per cent. The value of farms in the United States in 1850 was $3,231.676,426 nnd in 1860 they were worth $6,645,045,007, another increase of more than 100 per cent. I insist that the history of no country at any time can show such unexampled percentage of progress, and yet this Is the pem id selected fay the gentleman from Michigan (Mr. Burrows) os one,of “industrial depression.’*—Hon. Joseph Wheeler iu House Debate.