POLITICAL L.

OF MR.. CALHOUN,
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OF SOUTH CAhOLANA3


On the passage of the Tariff BiIL-delirered IN


the Senate of the u States, Aug. ., 1912.


Mr. PRESIDENT: The tariff bill of 1928 has,
by common consent, been called the bill of abom-
;1otons. but as bad as that was, this-all things
considered-is worse. 1t is, in the first place.
worse. because it is more onerous; not that the
duties are on an average hlgher-for they are
nrobabIv less. bv about 10 per cent. This, 1t IS
estimated will average about sc per cent. ad vaio-
rom on the aggregate of the imports; and that
,veraoed according to the best estimate that
have been able to make, about 46. But this diff
ference is more than made up by other consIdera-
tons: and among them, that allowed long credit
for the payment of the duties: this requires them
to be paid in cash. which will add to their burden
not less than or per cent. Again: there has
been great falling off in prices on almost all ar
ticles: which increases in the same proportion,
the rate per cent on the cost of all specific duties
-nrobably not much less than so per cent; which,
considering the number and the importance OF the
articles on which they are laid in this bill, will
much more than make up the difference. 10
these NAV be added its arbitrary and oppressive
provisions for valuing goods, and collecting du'
ties with the fact that it goes into operation, with
out notice. Immediately on its passage, which
would fall heavily on the commercial interest; and
the undue weight it would impose on the less
wealthy portions of the community, in consequence
of the higher duties it lays coarse articles of
general consumption.


1t u.s. in the next place, wo :se because, if it
should become law, it would become so under
circumstances still more Objectionable than did the
tariff of 1929 shall not dwell on the fact that,
if should. it would entirely supersede the COM
promise act, and violat" pledges openly given here
in this chamber, by its distinguished author, and
tbn Cxovornor of MaSs9c huSetfS then
member of this body-that if we of the South
would adhere to the compromise while it was
operating favorabIy to the manufacturing interest,
they would stand by it when it came to operate
flvorably to US. pass, also, without dwelling
the fact that II proposes to repeal the provision


in the act of distribution, which provides that the
act should cease to operate if the duties should be
raised above 20 per cent.-a provision, without
which neither that nor the bankrupt bill could
have become law, and which was inserted under
circumstances that pledged the faith of the ma oli-
ty to abide by it. | dwell not on these double
breaches of pIighted faith, should this bill become
law-not because regard them as slight OBJ
Jectlons; on the contrary they are of serious
character, and likely to exercsea very pernicious
influence our future Legislation, by prevent
ing amicabe adjustments of questions that may
hereafter threaten the peace Of the country but
because | have, on former occasion, expressed
my views fully in relation to them. pass on to
the objection that if this bill should pass it would
against the clear light of experience. When that
of 1923 passed, had but little experience as to
the effects of the protective policy 1t is true that
the act of 1924 had been in operation few years
which may be regarded the first which avowed
the policy that ever passed; but it had been in
operation too short time to shed much light on
the subject. Since then, our experience has been
greatly enlarged. We have had periods of con-
siderable duration both of increase and reduction
OF duties, and their effects respectively on the in
Sausiry and prosperity of the country, which ena-
oies US to compare, from authentic public docu.
ments the result 1t is most triumphantly in ia
Vor OF reduction, though made under circumstan-
ceS most adverse to it, and most favorable to in.
crease. have, on another occasion during this
session, shown, from the commercial tables and
other authentic sources that during the eight
years of high Duties the increase of our foreion
commerce, and of our tonnage, both coastwise and
foreIgn was almost entirely arrested; and that the
exports OF domestic manufactures actually fell
OIL atnough 1t was a period exempt from any
general conVulslon in trade or arrangement of the
currency. On the same occasion, | also showed
that the eight years of the reduction of duties,
which followed, were marked by an extraordina.
ry impulse given to every branch of industry
agricultural, commercial, navigating, and manu-
featuring. Our exports of domestic productions,
and our tonnage increased fully third, and our
manufactures still more; and this, too, under the
adverse circumstances of an inflated, unsteady cur
rency,, and the whole machinery of commerce de-
ranged and broken And yet, with this food of
light from authentic documents before us, what
are we about to do2 To pass this bill, AMI to re-
store the old, and. as was hoped, exploded system
of restrictions and prohibitions, under the false
guIse OF revenue bill, as [ shall next nroceed 10
show. -


Yes, Senators, we are told by the chairman of
the Finance Committee, and others who advocate
it. that this bill is intended for revenue and that of
1928 was for protection and it is on that assump-
lion they attempted to discriminate between the
wo, and hoped to reconcile the people to this