Monopolies -- United States; Railroads and state -- United States
A careful examination of the financial policy of the government ought to
convince us that a change is necessary to prevent ultimate ruin and
bankruptcy. With gold driven from circulation--an insufficient amount of
depreciated currency for the transaction of the business of the country,
and the facilities afforded the monopolies for controlling our whole
commerce, the agricultural and industrial interests of the country
languish--the farmer receives no reward for his toil--the laborer is
poorly paid--and general prostration extends over the land. A return to
specie payment, or an increase of sound currency, would relieve all
cause of complaint, and enable the industry of the country to receive a
fair remuneration for its labor.
CHAPTER XXIV.
OUR TARIFF POLICY.--DOES PROTECTION PROTECT?
A diversity of opinion exists throughout the country upon the question
of tariff. Politicians, statesmen, and the people generally, differ as
to the policy the government should adopt respecting it. It is generally
admitted that the revenue for the support of the government should be
derived from duties levied upon imports. The real point upon which a
difference exists is, whether the government should levy a tariff for
revenue alone, or whether it should be levied for the purpose of
affording what is termed a protection to American manufactures and
interests. This question is no nearer a solution now than it was forty
years ago. Those who favor protection appeal to our national pride; the
necessity of encouraging home manufactures, and of competing with the
cheap labor of Europe. A tariff for protection has been urged and
adopted as the only means of fostering home productions for so long a
time that it is deemed one of the necessities of the country by its
advocates. They look upon it as a chief means of affording a home market
for the farm produce of the country, as well as affording a market for
all manufactured articles. While, on the other hand, those who are
opposed to a tariff save for revenue, claim that what is termed
protection, is, in fact, oppression; that it cripples commerce, taxes
the people oppressively and unjustly, and, instead of benefiting the
producer by affording him a market, deprives him of it. They insist that
the agriculturalists of this country need, and must have, the advantage
of foreign market in order to make farm pursuits remunerative.
Public-domain text, read in full here on John Shaqi.
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