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son's war upon the established financial system of the Government, were very disastrous. In 1840 all prices had ruinously fallen; production had greatly diminished, and in many departments of industry had practically ceased; thousands of workingmen were idle, with no hope of employment, and their families suffering from want. Our farmers were without markets. Their products rotted in their barns, and their lands, teeming with rich harvests, were sold by the sheriff for debts and taxes. The tariff which robbed our industries of protection failed to supply Government with its necessary revenues. The national treasury in consequence was bankrupt, and the credit of the nation had sunk very low.

PART VI.

The Democratic Trick by which it became Possible to Repeal the Protective Tariff of 1842, and to Enact the Free-Trade Tariff of 1846.

In the Presidential campaign of 1844, Henry Clay of Kentucky, the great champion of protection, was the Whig candidate for President; James K. Polk of Tennessee The elecwas the Democratic candidate. toral vote of the great tariff State of Penn-¡ sylvania was necessary to Polk's success, but he was on record against protection. In the public mind he was believed to be a freeMr. Calvin Colton, in his "Life of Henry trader. The Whigs so charged, and with Clay," describes, from the newspapers of the great force, as Polk was supported by the times, the ruinous condition of all our indus-free-trade South, and by every free-trader in tries in 1840, resulting from the combined the country. The situation was a difficult influences of the compromise tariff and Jack-one for any but Democratic reform. son's and Van Buren's financial measures. Pennsylvania, Mr. Polk, by the Democratic Mr. Colton says: orators and press, was boldly urged as a better tariff man than Mr. Clay. He was a protectionist, and Clay was denounced as having betrayed protection by the compromise act of 1833. The following letter from Mr. Polk was circulated:

"Mr. Clay states the average depression in the value of property under that state of things which existed before the tariff of 1824 came to the rescue of the country, at fifty per cent. The revulsion of 1837 produced a far greater havoc than was experienced in the period above mentioned. The ruin came quick and fearful. There were few that could save themselves. Property of every description was parted with at sacrifices that were astounding, and as for the currency, there was scarcely any at all. In some parts of the interior of Pennsylvania the people were obliged to divide bank-notes into halves, quarters, eighths, and so on, and agree from necessity to use them as money. "In Ohio, with all her abundance, it was hard to get money to pay taxes.

"The Sheriff of Muskingum County, as stated by the Guernsey Times, in the summer of 1842, sold at auction one four-horse wagon, at $5.50; ten hogs at 63 cents each; two horses (said to be worth from $50 to $75 each) at $2 each; two cows at $1 each; a barrel of sugar for $1.50; and a 'store of goods' at that rate. "In Pike County, Mo., as stated by the Hannibal Journal, the sheriff sold three horses at $1.50 each; one large ox at 12 cents; five cows, two steers, and one calf, the lot at $3.25; twenty sheep at 13 cents each; twenty-four hogs, the lot at 25 cents; one eight. day clock at $2.50; lot of tobacco, seven or eight hogs. heads, at $5; three stacks of hay, each, at 25 cents; and one stack of fodder at 25 cents." (Vol. I., pp. 65, 66.)

The United States Almanac estimated the losses, in four years from 1837, on five descriptions of capital alone, at $782,000,000. In a series of letters to the people of the United States, by "Concivis," published in New York in 1840, it was estimated that the losses from the same causes on wool ($20,000,000), cotton ($130,000,000), and grain ($150,000,000) were $300,000,000! He shows that manufactures, lands, and every species of property and labor were affected to a like ruinous extent.

In

"COLUMBIA, TENN., June 19, 1844. "DEAR SIR,- I have recently received several letters in reference to my opinions on the subject of the tariff, and, among others, yours of the 30th ultimo. My opinions on this subject have been often given to the public. They are to be found in my public acts, and in the public discussions in which I have partici. pated. I am in favor of a tariff for revenue, such a one as will yield a sufficient amount to the treasury to defray the expenses of the Government, economically administered. In adjusting the details of a revenue tariff, I have heretofore sanctioned such moderate discriminating duties as would produce the amount of revenue needed, and at the same time afford reason. able incidental protection to our home industry. I am opposed to a tariff for protection MERELY, and not for revenue. Acting upon these general principles, it is well known that I gave my support to the policy of Gen. Jackson's administration on this subject. I voted against the Tariff Act of 1828. I voted for the Act of 1832, which contained modifications of some of the objectionable provisions of the Act of 1828.

"As a member of the Committee on Ways and Means of the House of Representatives, I gave my assent to a bill reported by that committee in Decem ber, 1832, making further modifications of the Act of 1828, and making also discriminations in the imposition of the duties which it proposed.

bill commonly called the Compromise Bill, for which "That bill did not pass, but was superseded by a I voted. In my judgment it is the duty of the Government to extend, as far as it may be practicable to do so, by its revenue laws and all other means within its power, fair and just protection to all the great interests of the whole Union, embracing agriculture, manufac tures, the mechanic arts, commerce, and navigation. I heartily approve the resolutions upon this subject passed by the Democratic National Convention lately

assembled at Baltimore.

In the Presidential campaign of 1840 the Whigs, therefore, made the tariff the principal issue. One of their rallying cries was, "Two dollars a day and roast beef!" The Democracy was badly beaten; and the Whigs, on August 30, 1842, passed a tariff which yielded protection to our nearly ruined indus-ocratic leader of the Statetries, and rapidly worked a restoration of the

"I am, with great respect, dear sir, your obedient servant, JAMES K. POLK. "J. K. KANE, Esq., Philadelphia."

And a little later Polk's letter was re

enforced by the following from Judge McCandless, an important and influential Dem

PITTSBURGH, August 8, 1844. "GENTLEMEN: Your cordial invitation of the

ultimo to be present with you at your mass-meeting on the 3d of September came to hand during

absence in the northwestern counties of Pennsyl. vania.

"I assure you that I never wrote an apology for my inability to attend any public assemblage in the whole course of my political career with more reluctance than I do this. Clarion has not only been firm and steadfast in her adherence to Democratic

principles, but she has been inflexible in her love and support of the tariff- that public measure which (aside from the bank question), like the rod of the Prophet, is destined to swallow up all other topics of political controversy. You have properly appreciated the importance of the protective principle to the success of the manufacturing and agricultural inter: ests of Pennsylvania, and in the abandonment of that principle by Mr. Clay, in the compromise bill, you have the best guaranty that, if elected to the Presi dency, he will carry out the principles of that bill, and afford you a horizontal duty, to enable you to contend with the pauper labor of Sweden and Russia. In doing so, he would give you and the tariff the same support that the rope does the hanging man-instant death, and without benefit of clergy.' Support him, if you can; for my own part, I shall go for Polk and Dallas, who have at heart the true interests of Pennsylvania.

"My engagements, gentlemen, in the supreme court, will prevent me from attending your mass. meeting. With the brightest prospect of Democratic 20,000 majority, I have the honor to be,

success

truly yours,
"Messrs. ADAM MOONEY, SETH CLOVER, and others,

"WILSON MCCANDLESS.

Committee."

This fraud succeeded. James K. Polk was elected. Hon. Robert J. Walker, of Miss., a pronounced Free-Trader, was made Secretary of the Treasury; the tariff of 1842, under which the country had so rapidly advanced to prosperity, was repealed, and the Free-Trade tariff of 1846 enacted.

PART VII.

Disastrous Effects of the Tariff of 1846

upon all Industrial Interests.

And now let some of the ablest men of the period through which this Free-Trade tariff extended, Democrats and Whigs, in a few brief extracts, tell the story of disaster and suffering which it worked.

Testimony of Henry C. Carey.

Mr. Henry C. Carey, an able writer on Political Economy, in his "The Prospect, Agricultural, Manufacturing, Commercial, and Financial, at the opening of the year 1851," and printed in 1851, during the operation of this Free-Trade tariff, thus describes its disastrous effects upon every industrial interest:

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same persons who had vilified the people and the Government of the Union in 1842, were now anxious to secure their custom on almost any terms-having become as fawning now as before they had been in. solent." - P. 35.

And again in a letter to Hon. Robert F. Walker, Secretary of the Treasury, he says: thousands and tens of thousands of the most useful of the coal and the iron, the cotton and the woollen men in the country. It tends to the utter destruction interests; and unless its progress be stayed, at that goal we must soon arrive, as must be admitted even by yourself. For all this we should elsewhere find some compensation. If we produce less coal and iron, we should have more wheat to sell. If we make less cotton cloth, we should export more cotton. If we If we build fewer factories, we should export more make less woollen cloth, we should raise more wool. tobacco. If we build fewer furnaces, we should export more corn aud pork; and all these things we must do because if we do not make we must buy them, which or largely diminish our consumption of cloth and iron, can be done only by producing commodities which their producers are willing to receive in exchange for them." If these things have happened there may be duction of cloth and iron; but if they have not hap found therein some compensation for diminished propened then there is no compensation for the vast destruction we have witnessed and are daily witnessing.

"The tariff of 1846 has caused the total ruin of

export? On the contrary, we have less from year to "Have they happened? Have we more wheat to year. Have we more cotton, rice, tobacco, corn, and pork to sell? The answer is found in the fact that the demand for ships diminishes and the demand for labor quantity for export diminishes from year to year. The diminishes, and instead of this country becoming from year to year more and more an asylum for the downtrodden people of Europe, it becomes from year to year less so; and with the diminution of immigration there is a diminution of the number of persons with whom we maintain perfect freedom of trade, untram. melled by the interference of custom-house officers. Under the tariff of 1842 immigration trebled, and with each immigrant we established perfect freedom of trade. Under the tariff of 1846 immigration has be come stationary, with a tendency to decline, and the number of arrivals in the last fiscal year is little greater than it was three years before. Perfect free trade has ceased to extend itself. We trade now with a million of Europeans, still resident in Europe, who, but for the enactment of the tariff of 1846, would now be Americans." - P. 5.

Testimony of Abram S. Hewitt for protection.

Ex-Representative Abram S. Hewitt, the present Mayor of New-York City, one of the ablest Democrats in the country, is probably at present an advocate of Free Trade. He was also a Democrat in 1848, but under the ruinous operation of the free-trade tariff of 1846, he was compelled to demand protection as the only means of a restoration of pros N.J., in September, 1848, Mr. Hewitt said: perity. At a public meeting in Trenton

"Labor in Europe was worth twenty-five or thirty cents a day; in this country three or four times that "At the close of this brief period of real pros- much. The average wages in their mills is a little perity' [in 1846], how great was the change. Labor more than a dollar a day (now $2). Why was there was everywhere in demand. Planters had large crops, this difference between English wages and American and the domestic market was growing with a rapidity wages? Because some eight hundred years ago Britain that promised better prices. The produce of the was invaded by a foreign conqueror who seized all the farm was in demand, and prices had risen. The con- land and wealth of the island, and devoted it to sustain sumption of coal, iron, wool, and cotton, and woollen a royal family and a landed aristocracy, and compelled cloth, was immense and rapidly increasing, while the people, the serfs, whom they made worse than prices were falling because of the rapidly improving slaves, to toil for them for the merest pittance that character of the machinery of production. Produc- would keep them alive. That system continues to this tion of every kind was immense, and commerce, in- day, the people still toil on for the most niggardly ternal and external, was growing with unexampled wages, and the great part of their earnings goes to susrapidity. Shipping was in demand, and its quantity tain the Queen in her pomp, and the nobles in their was being augmented at a rate never before known. spendthrift idleness. In this country it was not so. Roads and canals were productiv rations had Our forefathers settled here as men, all of whom were been resuscitated, and State ced pay-equal to each other, and all of whom were entitled to

was his, all his, and no part of it was to be taken to sustain a monarch's splendor or an idle aristocracy. Under this system the colonies grew and flourished, until they attracted the attention of the government at home, and that government attempted by taxing them to take from them a portion of their earnings, just as they took from the workmen at home the chief part of theirs. That attempt our fathers resisted by arms, and successfully. But in these days the attempt is renewed, and by our own Government; they are endeavoring to break down the difference of English wages and American wages, to reduce the American workman from his dollar a day to an equality with the English workman, who receives as the fruits of his labor only a paltry share, while the remainder is taken to support a king and nobility..

"The value of any manufacture is made up entirely of the wages paid to produce it. Coal and iron in the mines cost nothing. They are the free gift of God. But they are excavated by the pick and shovel of the workman; by him they are wheeled, carted, boated to market; by the workman they are carried to the mill; by the workman the furnace is heated and charged; by him the iron is puddled, rolled, put up for market, carried thither and sold. It is labor, labor, labor that constitutes every addition to the value of the article, and it is the man who bestows that labor who should enjoy all the fruits of it.

I have lately been in New England for the purpose of securing a contract for rails, in order to keep the mills running after our present contract runs out. I offered to make the rails at the very lowest price at which they could be made at the present rate of wages. An English agent came there and underbid me and got the contract. Thus, for want of a protective system, is the money sent to England to employ English workmen that ought to have come here to employ you."

Mr. Hewitt said he was not a Whig, but a Democrat. Still he went for protection now, as he did, and as his party did, in 1844, and he went for Gen. Taylor because he would sign a bill to protect American labor. He did not ask for any unreasonable duty. He only asked for a duty equal to the difference between American and English labor, etc.

Hewitt's Protection Resolutions.

Mr. Hewitt closed by proposing a series of resolutions embodying the general principles he had advanced:

"Resolved, That this meeting, composed of men who depend for their livelihood upon the labor of their own hands, hold the following facts and principles to be undeniably true, viz.:

"That natural wealth is the fruit of individual labor.

"That, therefore, is the best government, and the best policy, which secures to the hand that earns it the largest possible return for its labor.

"That the superiority of free institutions and economical government is proved by the fact that in the United States the average wages of labor are from three to four times as large as under the monarchical governments of Europe.

"That while foreign labor is paid at this price, it would be worse than insanity to adopt any policy by which the wages of our own labor should be reduced

to the same level, because it would be throwing away all the advantages secured to us by a free and economical government.

"That if the whole productive industry of the country were employed in producing the articles which we sell abroad, which are mainly breadstuffs and provisions, cotton, rice, and tobacco, we should produce a much larger quantity than we could sell; foreign markets would soon be glutted with these articles; the price of them would fall; the labor that produced them would, as a matter of course, receive less remuneration than it now does; the only stopping point in the decline of wages would be the starving point, and the inevitable result would be that we should be forced to give equal labor for equal labor, instead of one day's labor for four, as we have been doing for many years.

"That, therefore, if we would keep up the price of labor, we cannot employ the whole productive labor of the country in raising such articles as we export;

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most interested in employing in some other way that amount of labor which, if devoted to agriculture, would produce a glut, and a consequent fall of prices in the foreign markets; and that the only way in which such surplus labor can be employed is in producing certain manufactured articles, which can be bought cheaper in foreign countries, not because it takes less labor there to produce them, but because that labor is paid for at a less price.

"That hence arises the necessity for a tariff, which properly devised, is merely a system whereby the price of labor, which naturally results under a free and economical government, is prevented from being reduced to the pauper level of labor which just as naturally results under governments where the first fruits of labor, instead of being secured to the hand that earns them, are filched away in order to maintain the costly splendor of thrones, and the idle extravagance of an enervated aristocracy."

A little later, in December, 1849, Mr. Hewitt repeats the story of ruin:

"And first, what is the real condition of the domestic iron trade? Is it actually depressed and threatened with ruin, or does all the outcry proceed from men who, having realized princely fortunes' annually, are now clamorous because their profits are reduced to reasonable limits, or from another class who, having erected works in improper locations, desire not so much to make iron cheaply as to build up villages and speculate in real estate? Unduobtedly to some extent there are such cases, ... but as to the great fact that the gresat majority of establishments judiciously located, and managed with proper skill and economy, have been compelled to suspend work throughout the land for want of remunerating work, there cannot be

a shadow of a doubt.

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"The whole history of the manufacture of iron in Pennsylvania shows that in a period of seventy-five years there have been erected 500 furnaces, and out of them 177 failures, or where they have been closed out by the sheriff. Out of this 177 failures 124 of them have occurred since the passage of the tariff of 1846. And out of 300 blast-furnaces in full operation when the tariff of 1846 was enacted into a law, fully one half had stopped several months ago, and fully 50 more are preparing to go out of blast."

PART VII.

President Fillmore's Message Asking a Restoration of Protection as a Means to Revive Prosperity.

dated Dec. 2, 1851, says:President Fillmore, in his Annual Message,

"The values of our domestic exports for the last fiscal year, as compared with those of the previous year, exhibit an increase of $43,646,322. At first view this condition of our trade with foreign nations would seem to present the most flattering hope of its future prosperity. An examination of the details of our exports, however, will show that the increased value of our exports for the last fiscal year is to be found in the high price of cotton which prevailed during the last half of that year, which price has since declined about one-half. The value of our exports of bread stuffs and provisions, which it was supposed the incentive of a low tariff and large importations from

$68,701,921 in 1847 to $26,051,373 in 1850, and to $21,848,653 in 1851, with a strong probability, amounting almost to a certainty, of a still further reduction in the current year. The aggregate values of rice exported during the last fiscal year as compared with the previous year also exhibit a decrease amounting to $460,917, which, with a decline in the values of the exports of tobacco for the same period, makes an aggregate decrease in these two articles, of $1,156,751. "The policy which dictated a low rate of duties on foreign merchandise, it was thought by those who promoted and established it, would tend to benefit the farming population of this country, by increasing the demand and raising the price of agricultural products in foreign markets.

"The foregoing facts, however, seem to show incontestably that no such result has followed the adoption of this policy."

In a subsequent message, President Fillmore urges:

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"In my first annual message to Congress I called your attention to what seemed to me some defects in the present tariff, and recommended such modifications as in my judgment were best adapted to remedy its evils and promote the prosperity of the country. Nothing has since occurred to change my views on this important question.

"Without repeating the arguments contained in my former message in favor of discriminating protective duties, I deem it my duty to call your attention to one or two other considerations affecting this subject. The first is the effect of large importations of foreign goods upon our currency. Most of the gold of Cali fornia, as fast as it is coined, finds its way directly to Europe in payment for goods purchased. In the second place, as our manufacturing establishments are broken down by competition with foreigners, the cap; ital invested in them is lost, thousands of honest and industrious citizens are thrown out of employment; and the farmer, to that extent, is deprived of a home market for the sale of his surplus produce. In the third place, the destruction of our manufactures leaves the foreigner without competition in our market, and he consequently raises the price of the article sent here for sale, as is now seen in the increased cost of iron imported from England. The prosperity and wealth of every nation must depend upon its productive industry. The farmer is stimulated to exertion by finding a ready market for his surplus products, and benefited by being able to exchange them, without loss of time or expense of transportation, for the manufactures which his comfort or convenience requires. This is always done to the best advantage where a portion of the community in which he lives is engaged in other pursuits. But most manufactures require an amount of capital and a practical skill which cannot be commanded unless they be protected for a time from ruinous compe

tition from abroad."

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"Since the adjournment of the last Congress our constituents have enjoyed an unusual degree of health. The earth has yielded her fruits abundantly and has bountifully rewarded the toil of the husbandman. Our great staples have commanded high prices, and, up till within a brief period, our manufacturing, miueral, and mechanical occupations have largely partaken of the general prosperity. We have possessed all the elements of material wealth in rich abundance, and yet, notwithstanding all these advantages, our country, in its monetary interests, is at the present moment in a deplorable condition. In the midst of unsurpassed

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national wealth we find our manufactures suspended, our public works retarded, our private enterprises of different kinds abandoned, and thousands of useful laborers thrown out of employment and reduced to want. The revenue of the Government, which is chiefly derived from duties on imports from abroad, has been greatly reduced, while the appropriations made by Congress at its last session for the current fiscal year are very large in amount.

"Under these circumstances a loan may be required before the close of your present session; but this, although deeply to be regretted, would prove to be only a slight misfortune when compared with the suffering and distress prevailing among the people. With this the Government cannot fail deeply to sympathize, though it may be without the power to extend relief." The National treasury bankrupt- The National credit fallen to its lowest ebb. As in 1840 under the destructive operation of the compromise tariff of 1833, so in 1860, under the free-trade tariff of 1846, the act which struck down our industries necessarily destroyed our trade, and failed to supply the Government with its necessary revenues. In 1860 the National treasury was bankrupt, and the credit of the nation had fallen to its lowest ebb in our financial history. A treasury statement thus gives the figures at which in 1860 our treasury notes

were sold:

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And this is the inevitable result of freetrade. The destruction of our industries, reducing our laboring classes, manufacturing and agricultural, to want and misery, the ruin of commerce and trade, and that of the people and the nation.

PART X.

The Morrill Protective Tariff of 1860Subsequent Republican Legislation all Protective.

In 1860 the Republican Party came into power, and passed the Morrill Tariff Act, which was firmly based upon the principle of protection. Since then many changes in the law have been made, under which the tariff duties have been lowered or increased as seemed best for the prosperity of the industrial interests of the United States, while large annual reductions of the total revenue derived from tariff duties have periodically been made, but never has that party in making such changes lost sight of the great American principle of protection-of prote tion to the manufacturer, of protection

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Pig iron reduced from $7 to $5 per ton, or about 30 per
cent; or in other words, on iron and steel from 30 to
50 per cent.
On lead and manufactures of lead from 30 to 50 per

cent.

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35 per cent reduced to 25. 40 66

66 50 and 60 66

66

30. 40.

Wools, first and second class reduced about 50 per

cent.

Marble, in blocks and slabs, reduced from 50 to 30 cents
Pencils and pens, etc., etc., etc.
per cubic foot.

the artisan and mechanic, of protection to the farmer, of protection to the laborer. It has ever been its habit when making such changes to act with caution and consideration, and to give patient hearing, before tak-On copper in plates, bars, ingots and pigs the duties are reduced from 5 cents per pound to 2 cents. ing action, to the representatives of the manCopper ore transferred to the free list. ufacturing and laboring interests. Informa- On silk and silk goods tion thus gained from the body of the people On goods paying by the various Republican committees on ways and means has enabled them to prepare and urge to passage protective tariff measures grounded in wisdom as the absolute requirements of American industry. Hence Republican legislation on the subject has always been satisfactory to the American people, and whatever changes were at times demanded by an increasing surplus in the Treasury were slight and of such character as not to disturbing results: the industries or occupations of the American workman. But when the Democratic Party got full possession of the House of Representatives, their restless movements to change the essential principle of tariff legislation from protection to free trade at once affected American industrial interests, and most disastrously, as we shall presently see.

Analysis of the Morrison bill.

"An analysis of the Morrison tariff, under a comparison with the rates of duty in 1876, gives the follow Decrease of duty from the actual receipts Add amount of duties not collected dur of the fiscal year 1875....

ing eight months and three days under the provisions "less ten per cent"Cotton goods....... $ 700,907.04 3,591,465.69

Iron and steel....
Copper.
Lead.

Wool...

..................

..........

3,190.16

$18,454,081.72

545,887.23

2,863,551.40

$7,705,001.52

$26,159,083.24

20,038,580.85

$6,120,502.39

PART XI.

The Morrison Free-Trade Tariff of 1876
-The Democratic English Free-Trade
Death-Blow aimed at American Indus-
tries.

Increase of duty...

Decrease of duty.....

Taxing the poor man's breakfast table

"It will be observed that the increase of duty is not upon goods now paying duties, but mainly upon tea and coffee, which are now admitted free of duty, and ever ought to be, so long as they do not come into competition with home products of the same articles. The first attempt since the Rebellion made The amount of duty proposed to be collected from by the Democrats to tinker the tariff was in those two items is $19,216,701.14. So, in future, if the 1876, under the lead of Mr. Morrison of Ill- proposed [Morrison] tariff goes into operation, the inois, then, as now, Chairman of the Demo-poor man's family will be taxed heavily for these two important articles of daily consumption."

cratic House Committee on Ways and Means. He introduced to the Democratic House a tariff bill-known as the Morrison Tariff Bill-which had been drawn for him by the Free-Traders and others interested in breaking down protection, ruining home manufacture, and depriving our American home labor of a chance to earn an honest living, which excited great alarm at the time, and had its share in leading up to the succeeding panic and hard times. By Republican efforts, however, this Morrison Tariff Bill was so effectually exposed that it dared not afterward show its head. From Mr. Hubbell's speech a few extracts will suffice to show what was intended by this Democratic English FreeTrade Bill:

"The so-called Morrison tariff, manufactured in New York city, by order of the Free-Trade League, under the inspiration of the American members of the Eng. lish Cobden Club, strikes directly at the policy of protection, and aims a death-blow at many of our important industries, while none of them are allowed to escape its crippling influences.

Rates of reduction of duties.

"On cotton, unbleached, from 5 cents to 2% cents per quare yard.

Ou cotton, bleached, from 5% to 3% cents per square yard of the ordinary sizes and forms.

On iron, rolled, one half, bar iron being placed at one

Outside tea and coffee, increased duties only $821,879, while decrease for the year over $26,000,000.

"Aside from the tax proposed to be levied on tea and coffee, the increased duties amount to only $821,879.71, while the decrease for the year is over coffee should not be taxed, there will be little or no $26,000,000. Practically, however, even if tea and decrease in the aggregate receipts. The duties from the increase of importations, now unusually large, will overcome the reductions proposed in the tariff, and in that now collected. The Morrison tariff is an invitaa very few years return a larger custom revenue than tion to foreign manufacturers to surfeit our markets with imported wares, and the opportunity will be promptly embraced. The extent of its evil tendencies can scarcely be measured, and the country now appeals to the wisdom of this Congress to save the people from a practical realization of its fearful consequences."

PART XII.

The Wood Free-Trade Tariff Bill of 1878 How it injured Industrial Interests Mills' Free-Trade Resolution -Votes on Both.

The Wood Tariff Bill of 1878 undoubtedly

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