Democratic Sentinel, Volume 12, Number 25, Rensselaer, Jasper County, 13 July 1888 — History of the Tariff. [ARTICLE]

History of the Tariff.

1789 —Abolition of all interstate tariffs and reduction of state tariffs on foreign goods, followed by rapid increase of prosperity. . 1808— Absolute prohibition all importations, followed by nniversal disaster, 1809— Repeal of prohibition, followed by renewal of ty--1812 —The tariff doubled and all importations stopped by the War. Result hard times oyer the whole country general suspension of banks, and such suffering in New England that secession was threatened. 1816—A protective tariff adopted, in some things higher than that of 1812, although in some things lower. This was the first tariff which was framed all through upon the principle of protection. The protectionists always said that it was followed by great depression of trade. 1818 —The tariff made still more protective; and tho protectionists always refer to the year 1819 as one of groat disaster. 1824—A higher tariff, followed by great depression in the protected manufactures,and certaily without oHe cent of increase in wages. 1828 —A very high, protective tariff, immediately followed by hard times in 1830, and low wages so long as this tariff existed. ? 1832-—C'o ‘-free trade” at all, but a slight reduction of the tariff, followed by improvement in business.

* 1833—A gradual reduction of the tariff, leaving it still so high that an enormous surplus accumulated iu the treasury, which was disbursed among the States in 1837. This distribution was immediately followed by the famous panic of 1837, which was the direct result of wild land speculation all over the country, brought about largely by the surplus 1842—Protective tariff restored, followed by one year (, 843) of the greatest stagnation of business ever known, while during the whole existence of this tariff farm wages were cut down about one-half from what they had been even after the panic of 1837, and wheat, corn and cotton sold at prices disastrous to farmers and planters. Good times and fat profits for iron, cotton and woolen mill owners; bad times for every one else. 1846 —The tariff' cut down by about one-third to one-half. Kesult, an immense increase in commerce and shipping, a rapid increase in manufactures, unprecedented prosperity in agriculture, and the most rapid advance in wages ever known in the history of the country, before or since. 1857—Even under the low tariff

Jaw of 1846 the revenue had ha. com-» excessive and a surplus accumulated. In order to get rid of this surplus *he tariff was reduced m JuJyj but in September, before the new tariff could have the lew t effect, the short panic of 1857 occurred as the result of another wild speculation, combined partally with the failure of crops. By 1858, however, almost the whole effect of the panic Lad passed away, and in 1859 and 1860 agriculture, commerce and manufactures were all more prosperous than they had ever been before. 1861—A protective tariff, constantly increasing until 1867. According to protectionist logic the result was our terrible civil war, because this, as a matter of fact, immediately followed the new tariff. For more than a year after the adoption of this protective tariff the business of the country was in a feamilly depressed condition. 1864—Tariff raised 50 per cent. Manufacturers make fortunes for three years. Wages in gold lower than ever. 1867—Great increase in tariff on •»001. Result, immediate slaughter of 400,000 sheep, reduction of wool product, and ruin of woolen factories. The years 867, 1868 and 1869 were perio Is of great depression in business, and especially in manufactures In 1868 the protectionist* themselves declared that there were more unemployed workmen than had ever be fore been known.

1870 —Blight reduction in tho tariff and considerable reduction in taxation generally. As a result business improved considerably. But, the tariff being maintained in all its protective features, the great panic of 1873 ensued, which was far worse than the pamo of ]>67 and which lasted for more than five times as long a [ eriod. From September, 1873, until January, 1879, the business of the country was more depressed and more laborers were driven out of employment than in any previous period of the country’s history. So far from there being “twentyseven years of prosperity” under the last protective tariff, fully half of that time has been a period of extraordinary business depression, especially marked by falling wages and the wholesale discharge ol‘ laborers from employment. This was especially the case in 1861, 1867, 1868, 1869, 1873, 1974, 1875, 1876,1877 and 1878. 1883 —Pretended reduction but real increase in the tariff. Waglss eut down everywhere in factories and mines. Great panic of May, 1884, leaving depression for two years.

The most extraordinary fact about this whole story is that men of sense, who have lived through tho fearful period of depression extending from 1873 to 1879, when, for the first time,legislation against “tramps” was needed, should yet listen gravely to the assertion of protectionists that nothing is necessary to secure prosperity except just such a high tariff as v/e have now and had then. —Thomas G Shearman, in the Standard.

The News says Ben Harrison “voted against the Chinese bill because it conflicted with a treaty.” Did he say so at the time? Isn’t it a fact that long after he gave his fouteen votes in the senate against the anti-Chinese bill he read an essaj before a literary society in this city, in which he maintained that Chinese immigration was desirable and ought to be encouraged? Doesn’t the News*know +bis to be a fact? While it is having so much to say about fairness and candor and that sort of thing, why , can’t it bo fair and candid itself in discussing its candidate’s record? —lndianapolis Sentinel, The Staats-Zeitung, published at Nebraska City, Nub., bolts li.arrison and Morton. A large , and . influential German following bolts, with it.