cases in which there is good ground of assurance that the
industry which it fosters will after a time be able to
dispense with it; nor should the domestic producers ever be
allowed to expect that it will be continued to them beyond
the time necessary for a fair trial of what they are capable
of accomplishing."[1]
In the quiet of his library at Ashland, Mr. Clay, we believe, would,
at any period of his public life, have assented to the doctrines of
this passage. But at Washington he was a party leader and an orator.
Having set the ball in motion, he could not stop it; nor does he
appear to have felt the necessity of stopping it, until, in 1831, he
was suddenly confronted by three Gorgons at once,--a coming Surplus, a
President that vetoed internal improvements, and an ambitious Calhoun,
resolved on using the surplus either as a stepping-stone to the
Presidency or a wedge with which to split the Union. The time to have
put down the brakes was in 1828, when the national debt was within
seven years of being paid off; but precisely _then_ it was that both
divisions of the Democratic party---one under Mr. Van Buren, the other
under Mr. Clay--were running a kind of tariff race, neck and neck, in
which Van Buren won. Mr. Clay, it is true, was not in Congress
then,--he was Secretary of State; but he was the soul of his party,
and his voice was the voice of a master. In all his letters and
speeches there is not a word to show that he then anticipated the
surplus, or the embarrassments to which it gave rise; though he could
not have forgotten that a very trifling surplus was one of the chief
anxieties of Mr. Jefferson's administration. Mr. Clay's error, we
think, arose from his not perceiving clearly that a protective tariff,
though justifiable sometimes, is always in itself an evil, and is
never to be accepted as the permanent policy of any country; and that,
being an evil, it must be reduced to the minimum that will answer the
temporary purpose.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account