The Tariff in Our TimesTarbell, Ida M. (Ida Minerva)
History
The Tariff in Our Times
Tarbell, Ida M. (Ida Minerva)
Tariff -- United States -- History
“The wool bill of 1867 and its enactment
into law,” says one of the protectionist organs, “were chiefly due to
his personal influence with leading members of both branches of
Congress.”
The passage of the wool bill proved that an industry, if strongly enough
organized and headed by a sufficiently able and respectable lobbyist,
could secure from the Congress of the United States protective favors
which could not be secured for the whole mass of industries. The lesson
had immediate effect. The next year (1868) Congress was asked to pass a
similar bill, favoring the Lake Superior copper industry. The rich mines
in that section had been in operation for several years, and in the last
two or three years their output had been increasing rapidly. As was
natural, there had been a great amount of speculation in copper mining
stocks. The public had subscribed almost as much to wildcat and bogus
copper schemes in this period as to the same kind of oil schemes.
Probably something like $20,000,000 had been actually invested in the
region, there were forty or fifty thousand persons settled in the
district, and there was a considerable fleet on the Lakes in the
copper-carrying trade. It was the beginning of a great industry. Now for
many years there had been in Maryland, Connecticut, and Massachusetts
copper-smelting works which used ores from Chile and Cuba mixed with
ores from the Eastern states. Since 1864 the Eastern concerns had paid a
duty of 5 per cent on foreign copper ore. The Lake Superior interests
had been suffering for several months from decreased prices, due largely
to a great increase in the world’s copper output. They had asked relief
in 1866, and a higher duty had been accorded them in the bill that
failed. They now concluded, as the wool men had, that if they could not
get what they wanted in one way they would in another, and in July,
1868, brought in a bill asking for a duty equal to about 25 per cent on
copper ore. It was a rate which, if granted, was bound to put the New
England and Baltimore works out of commission, put an end to the
carrying trade with Chile and Cuba, raise the price of copper so that
American-built ships could not get their copper bottoms in our ports,
and drive many industries then using copper to cheaper substitutes, like
galvanized iron, sheet tin, zinc, or lead, and put still others to an
expense which, as they would have no compensating tariffs to protect
them, would greatly cripple them. Excited debate followed the bill
everywhere, especially in the Senate, where Zach Chandler fought for it.
The time had come, he declared, when the manufacturers were not going to
have all the protection; miners and farmers were going to have it now.
There was not an article made in Connecticut, which was opposing this
bill, which was not protected, “not an article from a wooden button to a
brass clock or from carpetings to Jew’s harps.” If you don’t give
protection to us this way (through special bills), we’ll take a
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