Magna Carta, and Other AddressesGuthrie, William D. (William Dameron)
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Magna Carta, and Other Addresses
Guthrie, William D. (William Dameron)
Constitutional law -- United States
Many are now telling the people that the tariff is solely responsible
for the high cost of living and for the prevalence of social unrest
and discontent. Such phenomena are world-wide and exist abroad as
much as, if not more than, they exist here. In England, which has
no protective tariff, the complaint against the high cost of living
has been even louder than here. The real causes of the increase in
the cost of living with us undoubtedly are: (1) enormous increase in
the world's supply of gold, necessarily diminishing the purchasing
value of the dollar, for the world's gold production, which from
1850 to 1890 averaged $120,000,000 per annum and was $130,650,000 in
1891, increased to fully $461,000,000 in 1911, (2) rapid increase of
population without a corresponding increase of the production of food
and other necessaries of life, (3) flocking to the city and abandoning
the farm, (4) appreciation in land values, (5) increase in the price
of raw materials, (6) higher rates of wages and decrease in the number
of hours of work, (7) better standards of living, (8) exhaustion of
some sources of supply, (9) extravagance in public expenditures, and
(10) withdrawal of armies of civil servants from productive industry.
These are the principal and controlling causes that tend to the higher
cost of living; they are world-wide, and, if explained, they will be
easily understood and recognized by intelligent and candid business
men and workmen, who will at once perceive that these causes will not
be removed in any degree by free-trade legislation. Last year serious
disturbances occurred in Europe as a result of the prevailing high cost
of food supplies there, and the British board of trade is now making an
investigation into the cost of living, not only in England but also in
Germany, France and Belgium. In fact, an international commission is at
this moment inquiring into these causes. How preposterous it would be
to say that the American protective tariff was the cause of the high
cost of living in free-trade England or elsewhere in Europe!
Public-domain text, read in full here on John Shaqi.
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