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manufacturers in other parts Of the country whose capt
tails and resources limited and who require In


the beginning sf their enterprise protection to certain
extent Our tariffs require modfc alions from time 10 time
toss. the wants of and reduce anysurpus


That may have accumulated during the period in which
any great interest required protection. tariff based
upon the principles which the compromise act was
founded with longer time to and a more gradual
reduction, would suit the pecnliariy OF our institutions
better than any other policy that could be adopted This
would give any local interest time to establish itself and
the features being established, every could govern
himself accordingly. The increase in manufactures of
cotton and in the amount Of capital employed in this
branch OF business since S shows that the low average
duty closing the compromise act and the high tariff of
1872 have less influence the movements Of those
gagged than imagined by large portion Of the public.
Since 1889 the currency of the country has been very
Uniform and the value Of money very regular To this
wecan in great measure attribute the steady improve
ment observed in this department


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