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 most cursory examination showed that the high protectionists had got
much that they asked. Iron ore had been raised to 75 cents a ton after
having been given 50 by tariff commission, by House, and by Senate.
Pig-iron was restored to $6.72; steel rails, after having been given
$15.68 in the Senate and $15.00 in House, were raised to $17.00. Mr.
Beck attacked the bill violently, making a most imposing array of duties
raised, but of course saying nothing of those lowered! At the same time
he attacked Sherman for his part in raising duties. Sherman was not
jubilant, however, over what he had done. Indeed, he was almost in
despair. For if he had succeeded in the metal schedule, he had failed in
the wool. The wool bill of 1867 had put compound duties on wool—10 cents
a pound and 11 per cent ad valorem on all wools costing 32 or less cents
a pound; 12 cents a pound and 10 per cent ad valorem on all costing over
32 cents. The ad valorems were dropped in the bill of ’83. The rate on
carpet wool was also lowered. The duties on manufactured goods were
lowered less on the whole than those on raw wool. In the bill of ’67 the
manufacturer had been allowed a specific duty of 50 cents to compensate
him for the duty on wool and dyestuffs; this was dropped to 35 cents in
the bill of ’83; but on several grades of woollens the ad valorem duty
was raised. It was raised indeed in every case where importations were
large. On cheap goods the duties were so high there could be no
competition; indeed they could have been lowered considerably and the
situation remained unchanged. But wool-growers and wool manufacturers
were both incensed at the bill. Senator Sherman took his failure much to
heart and he refused to sign the conference report. It was a question if
he would vote for the bill. But when the matter came to a test, as it
did about midnight of Saturday, March 3, he voted yea.
“I have always regretted,” Mr. Sherman wrote twelve years later, “that I
did not defeat the bill, which I could have readily done by voting with
the Democrats against the adoption of the conference report, which
passed the Senate by the vote of yeas 32, nays 30. However, the
propriety and necessity of a reduction of internal taxes proposed by the
bill were so urgent that I did not feel justified in denying relief from
burdensome and unnecessary taxes on account of provisions in the bill
that I did not approve. With great reluctance I voted for it.”
Public-domain text, read in full here on John Shaqi.
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