| Years. |
Wools. |
Woollens. |
| 1886 |
$17,403,099 |
$43,995,641 |
| 1887 |
15,645,020 |
45,065,986 |
| 1888 |
14,542,244 |
49,984,298 |
| 1889 |
18,696,277 |
54,080,159 |
| 1890 |
(fiscal year) |
56,582,000 |
Roger Q. Mills of Texas stated from his place in the
House of Representatives in 1888, that the United States
grows but about 265,000,000 lbs. of wool yearly, while it
takes about 600,000,000 lbs. to clothe our own people.
Why should more than half the wool needed to clothe the
people be taxed in such a way as to double (in general)
the cost of the people's clothing? And why should Benjamin
Harrison, now President of the United States, have said
in that same year, in view of these elsewhere unheard-of
taxes, and in view of the average climate of his country,
that somehow it seemed to him that cheap clothing implied
a cheap man? In view of the enormous natural demand
for woollens, in order to keep comfortable day and night
64,000,000 of inhabitants, is it not strange, and must there
not be artificial causes for it in the kind and mode of
national Taxation, that the United States has but 16 sheep
to the square mile, while Germany has 92, France 111, and
Great Britain 339?
Senator John Sherman stated in his place in August, 1888,
and again in substance Sept. 2, 1890, that a line of custom-houses
on our joint-frontier with Canada was "the height
of nonsense, and almost a crime against civilization." Well
might he say this in view of what his colleague, Allison of
Iowa, has recently said, namely, that the Dominion bought
in 1880 of the United States 8% of its brass goods, 86%
of its copper manufactures, 94% of its cordage, 88% of its
gingham, 65% of its glasswares, 99% of its rubber goods,
94% of its printing ink, 92% of wooden wares, 91% of tinware,
90% of wall-paper, 72% of paper wares, 98% of
ploughs, 97% of engines, 99% of sewing-machines, and
90% of miscellaneous machinery.
The imports and exports of the United States for the
last two fiscal years are as follows:
—
| |
1889. |
1890. |
| Imports, free |
$256,487,078 |
$265,588,499 |
| Imports, dutiable |
488,644,574 |
523,633,729 |
| Total |
745,131,652 |
789,222,228 |
| Exports |
742,401,375 |
857,824,834 |
| Gold and Silver, Imports |
28,963,073 |
33,976,326 |
| Gold and Silver, Exports |
96,641,533 |
52,148,420 |
| Total Imports |
774,094,725 |
823,198,554 |
| Total Exports |
839,042,908 |
909,973,254 |
There two or three noticeable points from this table.
First, the large relative increase of free imports over those
of former years. Free articles in 1867 were less than 5%
of the whole; in 1882, 30%; and in 1890, 33.9%. The
Free List, so-called, has indeed been enlarged in the interval,
but free goods tend naturally to swell over the taxed
goods, so that in 1890 the free were almost exactly one-half
of the taxed. Second, of the large total of merchandise
exports, it is to be sorrowfully noted, that more than
82% of the whole is made up of the products of agriculture
and forests and mines (not gold and silver); while
manufactures compose only 17.8%. What ails our manufactures,
that we cannot sell them abroad? We have
been for 30 years under a vaunted scheme warranted to
develop manufactures,—expressly designed and recommended
to make them cheap and good,—under an elaborate
and artificial scheme that makes everything bend,
even the backs of the toiling millions, to foster and propel
manufactures! But we do not succeed in selling much of
them abroad, except some fractions of them to Canada.
The ratio of them to the total of exports of merchandise
seems to be growing less: in 1889, 18.9%; in 1890, 17.8%.
The simple truth is, that we are able to sell abroad even
this beggarly proportion of manufactures to the total
exports of merchandise, only in consequence of a shrewd
device working within the Grand Device, namely, the so-called
"Free List." Some of the little wheels within the
big wheel revolve rapidly. Manufacturers do not like to
pay protectionist tariff-taxes themselves any better than
other people like to pay them. They have by their own
open confession in overt act precisely the same opinion of
their deadening influence, that other people have. If,
however, they can escape such taxes on the things they
have to buy, especially their raw material, and keep them
on their own finished goods offered for sale in a monopoly
market, they would be happy. Hence, the Free List.
Hear Senator Dawes before the Paper-makers' Convention
at Saratoga in 1887: "There is one other feature of tariff
revision much discussed at the present time which must not
escape our attention, and that is free raw material. No
industrial policy will promote the highest prosperity of both
labor and capital in this country, which fails to lay down
the raw material at the door of the manufactory at the lowest
possible cost. In any new revision of the tariff this rule of
preference for our own raw material must be adhered to by
those who do not propose to give up the American for the
indifferent policy in legislating between ourselves and foreigners.
It will be found, however, to add very
few raw materials to the free list, for the revisions
of 1874 and 1883 have already made free all
such non-competing raw materials as at the time
of the passage of those acts were entering to any
considerable extent into the consumption or production
of the country."
Till now, we have been dealing in facts, and figures, and
in careful generalizations after the inductive manner: let
us, at the very last, indulge in a freak of fancy. Suppose
for a moment, that all taxes of every name could be
abolished instantaneously, and the Governments, like the
Israelites, live on manna for forty years. What harm
would ensue? What industry would decline? Who
would be impoverished? What stimulus to work and
save and grow rich would be weakened thereby? Would
not wages, and profits, and rents, all be lifted thereby, with
no damage to anybody? A child can see that Taxes from
their very nature are a burden, are a subtraction from
income, are a minus and not a plus. Who, then, except
from sinister motives, can imagine and represent, that
Taxes are a good in themselves, a positive blessing, a spur
to the progress of Society?
Taxes of some sort there must be for the maintenance
of Governments, which are established for the good of
all. Why, then, should not the Taxes be just as few, just
as simple, just as comprehensible, just as universal and
equitable, as is consonant with the single end of their existence
at all?
INDEX.
A
- Abraham, 9, 384.
- Abstinence, 93, 191, 338, 445.
- Abyssinia, 386.
- Activities of men, 1.
- Actors, 4.
- Act of Parliament, 127.
- Act of 1624, 135.
- Adams's inauguration suit, 510.
- Administration, 358.
- Advalorem rates of tariff tax, 489, 558.
- Advantages of credit, 271.
- Advantages of discount, 302.
- African macoute, 388.
- "African, the," 158.
- Agent of the mill, 4.
- Age of iron, 95.
- Ages of stone, 95.
- Agreeableness of rendering, 218.
- Agriculture, 149, 538.
- Allison of Iowa, 582.
- Alloy, 416.
- America, 3.
- American capital, 166.
- Ames, Fisher, 538.
- Amsterdam, 165, 311, 421.
- Analysis, 15.
- Ancient Romans, 2.
- Annual earnings, 543.
- Apprenticeship, 186, 203.
- Arbitration, 266.
- Aristophanes, 420.
- Aristotle, 47, 98, 158, 248, 381, 402.
- Aristotle's Logic, 63.
- Arkwright, Richard, 108.
- Arlington Mills, 516.
- Artisans of every name, 2.
- Ascertainment, 15, 246.
- Asia, 19.
- Asia Minor, 333.
- Asia, pro-consular, 579.
- Association, 99.
- Assyria and Babylonia, 330.
- Astor, J. J., 180.
- Astronomy, 63.
- Auction, 57.
- Augustus Cæsar, 392, 580.
- Australia, 252, 399.
- Axe, 90.
- Axioms, 69.
B
- Babylonian tablets, 332.
- Bacon, Lord, 63, 64.
- Bailee, 278.
- "Balance of trade," 312, 406, 452.
- Bales of cotton, 345.
- Ball, John, 228.
- Balloon of promise, 343.
- Bancroft, historian, 512, 573.
- Bangor, 454.
- Bank bills, 286.
- Bank defined, 291.
- Bank deposits, 291.
- Bank discount, 299.
- Bank messengers, 5.
- Banker defined, 6.
- "Bankers' bills," 315.
- Bank of Amsterdam, 280.
- Bank of England, 82, 287, 292, 350, 396, 448.
- Bank of Massachusetts, 288.
- Bank of New York, 288.
- "Bank of North America," 288.
- Bank of Scotland, 325.
- Banks of Newfoundland, 180.
- Barter, 364.
- Bascom, John, 71.
- Bastiat, 47.
- Beauty of gold and silver coins, 413.
- Beck, Senator, 491.
- Benevolence and impertinence in trade, 239.
- Bentham, Jeremy, 252, 448.
- Benton, Thomas H., 494.
- Berkshire Co., Mass., 260, 533.
- Berlin, 3.
- Berlin Geographical Society, 27.
- Bernhardt, 211.
- Bessemer Steel Co., 487, 491.
- Best money, 395.
- Best tenure of lands, 155.
- Betterments on land, 173.
- Bill-discounters, 300.
- Bill of exchange, 278, 300, 303.
- Bill of lading, 277.
- "Bills of credit," 435.
- Bimetallism, 415.
- Bismarck, 210.
- "Black Death," 227.
- Blacksmith's capacity, 118.
- Blades of the shears, 249.
- Blaine, Secretary, 507.
- "Blanket" mortgage, 284.
- Blunders in economics, 75.
- "Body," 78.
- Bombay spinner, 201.
- Bonnieres quarry, 164.
- "Book of Trades," 114.
- Borrow, 277.
- Boston Commercial Bulletin, 563.
- Boston Custom House, 564.
- Botany, 63.
- Bottom-principle in taxes, 567.
- Bounty of God, 43.
- Bradford, Governor, 391.
- Bradley, Mr. Justice, 359.
- Breadth of contracts, 241.
- Bright, John, 199.
- British colonies, 313.
- British Isles, 84.
- British Provinces, 527.
- British Revenue Tariff, 485.
- British statesman, 153.
- Brokers' board, 302.
- Broker's office, 6.
- Bronson, 434, 436.
- Brotherhoods, 226.
- Buchanan, James, 447.
- Bullets as money, 392.
- Bullion theory, 403, 451, 453.
- Bureau of Statistics, 264.
- Burman Empire, 385.
- Buying, 14.
- Buying and selling, 4, 15, 236.
C
- Cakes of tea, 386.
- Calhoun, Senator, 497, 499.
- Calicoes, 105.
- Canada, 179.
- Capital, 92, 96, 246.
- Capital defined, 93.
- Capital wears out, 171.
- Capitalists as a class, 233.
- Capitalists of Boston, 4.
- Captains of industry, 196, 244.
- Carey, H. C., 103.
- Carpenter's square, 38.
- Carthage, 21, 84.
- Carthaginians, 387.
- Cartwright, Edmund, 111.
- Cases and classes, 68.
- "Cash accounts," 333.
- Cash credits, 324, 327.
- Cattle, 80.
- Cattle as money, 383.
- Causes of labor troubles, 238.
- Cavour, 210.
- Cecil, Robert, 126.
- Cedars, 23, 40.
- Census, 75.
- Central America, 27.
- Chadwick, Sir Edwin, 197, 200.
- Chaldean tablets, 331.
- Chalmers, Thomas, 137, 215.
- Chase, Chief Justice, 356, 357.
- Chatham, 210.
- Chattels, 93.
- Checks on market rate, 56.
- Chemistry, 63.
- Cheque-Bank, 321, 329.
- Cheques, 303, 317.
- Chevalier, 399.
- Chicago, 278, 477, 501.
- Chicago, fire in, 500.
- China, 19, 387.
- Chinese-wall policy, 474.
- Christianity, 22, 30.
- Christians, 10.
- Church relations, 241.
- Cicero, 97, 189, 248, 333, 403.
- Circular credits, 327.
- "Circular notes," 328.
- Circulating capital defined, 99.
- Civil Law of Rome, 206.
- Civil war, 353.
- Civil wars, 260.
- Civilization, 10, 89, 252, 366.
- Claims of conscience, 243.
- Classes of facts, 66.
- Classes of salable things, 7.
- Classes of valuable things, 5, 62.
- "Clearing house," 318, 321.
- Cleon, 421.
- Clergyman, 4.
- Clerks at the clearing, 320.
- Clifford, Mr. Justice, 357.
- Clog of economy, 33.
- "Cloth-workers' guild," 258.
- Coal, 497, 527.
- Cobden, Richard, 202.
- Codification, 206.
- Coffee and tea, 488.
- Cog-wheel railway, 1.
- Cohoes, 3.
- Coin, 429.
- Coined money of two kinds, 426.
- Coke, Lord, 89.
- Colbert, 404.
- Colonies of New England, 249.
- Columbus, 26.
- Commerce, 17, 402.
- Commercial credits, 49, 271.
- Commercial crises, 347.
- Commercial treaty of 1860, 30.
- Commodatum, 276, 340.
- Commodities, 2, 8, 20.
- Commodities defined, 80.
- Common law, 9, 88, 130, 205.
- "Company," 4.
- Company of the Indies, 438.
- "Compete," 464.
- Competition, 44, 121, 175.
- "Compromise Silver Bill," 475.
- Conditions of production, 99.
- Conditions of a science, 67.
- Conditions of trade, 15.
- Congress, 256, 288, 450.
- Connecticut, 100, 435.
- Conrad, John, 183.
- "Consolidated annuities," 274.
- Consols, 285.
- Constancy of employment, 219.
- Constitution of the United States, 133, 178, 256, 358, 444, 474, 494, 572, 578.
- Constitutional law, 429.
- Continental Congress, 441.
- Cooley, Judge, 113.
- Co-operation, 268.
- Cooper Union, 222.
- Copper skewers, 385.
- Copyrights, 132.
- Core of money, 378.
- Corn laws, 58, 177, 217.
- Cost by railway mile run, 233.
- Cost of capital, 161, 165, 231.
- Cost of labor, 161, 231.
- Costs of carriage, 466.
- Costs of production, 159, 165, 397, 462.
- Cotton, 105.
- "Cotton City," 498.
- Cotton-gin, 100.
- Cottons and silks, 457.
- Coupons, 337.
- Court calendars, 254.
- Craft-box, 226.
- Craftsmen, 259.
- Credit, 372.
- Credit-claims, 6.
- Credit defined, 275.
- Credits, 8, 20, 58.
- Credits are capital, 338.
- Credits as taxable, 555.
- Crompton, Samuel, 110.
- Crossed cheques, 321.
- Current rate per centum, 165.
- Curtis, George T., 573.
- Custom, 224.
- Customs-taxes, 238, 474.
D
- Damascus, 8.
- Davis, Mr. Justice, 357.
- Dawes, Senator, 584.
- Dawn of history, 8.
- Dealer in services, 6.
- Debits at the bank, 6.
- Debt, its etymology, 275.
- Debts of the bank, 6.
- Decatur, Commodore, 482.
- Decennial Census, 519.
- Deduction, 62, 69.
- Deductive sciences, 63.
- De Foe, 100.
- Demand acts upon value, 54.
- Demand and supply, 369.
- Demand defined, 52, 190.
- Denarius of Rome, 238, 385.
- Denomination-dollar, 388, 390.
- Denominations of money, 372, 388.
- "Depositaries," 295.
- Deposit-banking, 293, 295, 297.
- Deposits, 296.
- Descartes, 68.
- Desires, 18, 64, 75, 138.
- Detroit, 491.
- Dey of Algiers, 482.
- Diffusion of taxes, 571.
- Diminishing profits, 228.
- Direct taxation, 553.
- Disadvantages of credit, 271, 343.
- Discount, 273.
- Discount defined, 301.
- Diversity of advantage, 25, 102, 117, 131, 136, 262, 455, 458.
- Divine purpose, 26.
- Division of labor, 252, 257, 374.
- Dock laborers' strike, 313.
- Doctors' fees, 204.
- Doctrine of chances, 221.
- Doctrine of rent, 146.
- Dollar-bill, 427.
- "Dollars," 359.
- Domestic trade, 481.
- Dorsetshire laborer, 223.
- Drachm, 385.
- Drawee, 329.
- Drawer and bearer, 330.
- Duke of Orleans, 437.
- Durability of machinery, 168.
- Dutch capital, 166.
- Dutch East India Co., 280.
- Duty, 65.
E
- Easiness of learning, 219.
- East India Co., 114, 132.
- Economics, 31, 40, 64.
- Efficiency, 164.
- Efforts, 20, 59.
- Efforts and renderings, 32.
- Egypt, 9, 11, 24.
- Electricity and lightning, 70.
- Elliott, Ebenezer, 202.
- Ely, Professor, 251.
- "Empire State," 286.
- English recoinage, 422.
- English shilling, 317.
- Enlarging wages, 228.
- Ephron, 9, 384.
- Equation of international demand, 468.
- Erie Canal, 286.
- Estimates, 22, 34, 39, 43, 60.
- Ethics, 64, 75.
- Etymology, 37.
- Etymology of "credit," 275.
- Euphrates country, 392.
- Euripides, 237.
- Europe, 9.
- Evarts, William M., 73.
- Exact sciences, 63, 65.
- "Exchange against," 314.
- "Exchange in favor," 315.
- Exchequer, 549, 568.
- Excise tax, 560.
- Exemption from taxes, 570.
- Experience and experiments, 65.
- Exports, 462.
- Exposure, 15.
- Ezekiel the prophet, 11, 83.