Chicago Daily Tribune Newspaper, July 24, 1875, Page 9

THE TARIFF QUESTION. pavid A. Wells on Free prade Versus I'ro= tection. Freo Trade Not Antngonistic to the Imposition of Du- tics on Imports. Under N, Taxes Wonld Be Levied for Rtevenue Pur~ poses Exclusivelys Tho Argument for Freo Trade an Argument for Abundance. trotection, in Realily, Does Nob Protect ; and its Influenco Is Lt Tem- porary, ans"s Establishing Protection Necessa- rily Unjust and Unsiable. Why Freo Trade Is Not Imme- dintely and Universally Accepted, Tho Testimony of History in Respect to the Beneficinl Influenco of Freo Trade. W Atlantic ™ for dugusty That tho queation of Free Trudo, 8s embodied fo opposition {o tho lovying of taxes for any pther than etrictly rovenne purposes, is to come beforo tho Amerlean peoplo as ous of tho po- litfcal fssuos of the noxt U'reaidentinl campalga, pannot be doubtod. ' 'That no ingonmderablo pro- portion of Awmorican mauufacturors, 68 tho ro- ault of recont hard experionce, are furtherimoro likely at no distant day to unite in demanding an abandonment in onr nitlonal fiseal policy of pitra protection aa fu itsoll doestructivo of sl protection, moy aiso La regarded as a mattor roaconably certain, Under such circumstances, then, with & view of aidiug tho averago citizen, who has not given special attention to flunuce and political economy, to form in respect to tiso questions an opinton which he may soon havo to express ot the polls, it iy proposed bere o present—without claiming origivality for sither Jauguago or illustration—a simple stato- meut of th creed of I'roo Y'rade, s viowed from &n American standpoint, aud of the reasous for which its advocates sock its recoguition na a tardinal feature of our fulure nationl flscal logislation. BELATION OF FUEE TRADE A8 AN ECONOMIO BYS- TEM OF TAXATION AND HEVENUE. On this poiut thore is no little popular wiscon- soption, which haa doubtloss Leon often inten- tonally encouragod by a common assertion of Ao ndvocatos of Protection that * (ko adoplion of Freo Trade a8 a national fiscal policy necesea- rily mvolves a resort on tho part of tho State to direct taxation ns o monns of ubtaining rovenuo.” Tho trutls, howovyer, in respoct to this matter is 88 follows: T'ho command of revenue boing ab- solutely cssontial to tho oxistenco of orgauized governmont, tho power to compel contributions from the pevple guvornod, or, as wo torm it, “to laz," i8 inherent in overy sovoreiguty, and Iv essential to its oxistonco. 8o far tho advocates of Froe Trade nud Irotoction fully agreo. ‘Tho former, howevor, mafutain thatin tho oxerciae of this powor the object of thotax should Lo rigidly restricted to the dofraymg of legiti. mato publis exponditures,—or, in othor words, that taxes ehould be lovied for rovenuo purposos oxclusively,—and that, subject to such Jimitations, tho question asto what torms taxation would best assume becomes ouo of meio expericnce and oxpedicney; pref- ercnce Loing nIways givon 1o thoso foruis whicl involye tho loast wisto cost and porsousl anvoy- auco in collection, which are most productive of reveuue, aud iuterpose the wminimum of inter- ferenco and restrictivn on commercial Inter- courso. ‘¥ree Trado as au economio principlo iy not, therefuro, as it is often amsumed nud sup- posed, necossnrily antagoniutio to tho mposition of dutios un umports, provided the end sought to bo attainod 18 smunply rovonus and the circum- stances of tho Stute rendor such form of taxation expedient, Protection, ou tho other laud, on tho ground of advantuges ncerning directly or fu- cidentally, advocates and dofends the imposition of taxes on imports for purpues otboer than thoso of revouuo. Lrotection, thersfore, to the exact oxtont to whicl 1t attains its objac, is obviously autagonistio to rovenue, inasmuch ay revenue is recoived ouly ou those commodities whicl come in, while piotection is secured ouly when the impurintion of commoditics is rc- atricted or wade dillicult. INGIDENTAL PROTECTION, The adjustment of & tarfl for reyenno in such A way as to afford what 18 termed **fueidental protection "—an jdoa wuch favored by American politicians—is basod ou the supposition that by arranging s ecalo of duties so moderulo ss only lo resirict sud mot prevent importations it iy anmhla to securo asutlciency of 10vente for tho itate, oud at tho yawme timo stinvlata domustio manufactures by iucrensing the prive of com- petitivo forelgn products, ‘Lliat shedouble objoct thus sused at s capablo of sttainment cannot bo doubted, buc that the projoct is also ono of tho most costly of all mothoon of rawivg revenuo Wil Lecomio ovident it it i4 romombered that, wlilo rovenuo to the Btato acerue ouly from tho tax lovied on what s mmpoited, suothor tax, aising from the incroaso of price, Ia ulso paid by, the patlou upon all 1h it s sold and cousumed iy cumpetition with the foreign article, A tarill for Tovenue ko adjusted ay to ufford incldental pro- tectton fs, Lhioroforo, o syatom which rajuires the Covsumery, who aro the pedple, to pay mwuch i order that the Stato may recvive little, B0 BESINICE EXCHANUES BEAFFINXH TUE PRIN- CIVLE OF BLAVERY, Auy svstem of luw which dunios to sn indi- ual the 1ight freely to exchavgo the producis 0 Lis Iabor, by deciaring that A, a cllizen, may trado on equal teras with B, anotber eitizen, but shall not under cqually faverabie circumstauces trado with O, who lives i another couutry, re- silisne ju efect the principlo of elavery ; fof both nlmr{. sud the artificisl restrivtion or prohibition ©f oxchuuges deuy to the fudividual the right to use tho producis of Lis labor accoruing to his own pleasure, or what way scem to hiw Llio bost sdvautsge; or, fn other words, the practical l‘l‘:l;kll\:.u of Loth the system of humm}:fivt:y o stom of Protection is to doprive thy lum\xdn:Yur & portion of tho fruita of biy labor, Witlous wakiug iu ruturn suy dircet componsu- tion, The argument that iy Roverally put forth by tho Lrutoctionists lo Justification of legiulation restricting fecdow L0 oxchaugo, or fu dofense of tho pitlily expressod proposition that it ig “botier to com. pol su individual to buy a liat tor &5 ratbor thay w allow l:ulu to puiclinuu it for €0, 14 that sny prosout loss or iujury resulting fron sostziction to the individual will u§ m:’m:’l :l‘::‘r: componeated to bim indirootly, as a citizon of the Btato. Hut this pleain the same in charao- tor, and just as logitimate, ma thut which way formerly put forth 1n defenso of the system of nogro slavery, namely, that the n{slam was real- 1y for the good of sociely—meaniuy thercby the manters—would Le tully compuusated to bita, through moral disciplive, in the world to come. ltisaleoto be moted that this sawmo ppecies of argument—1. e., indirect or future individual or soeisl bonofit as a justification for present per- sonal teatnction or injury—has alwavs buen made usw of in the past sged as a vindication aud s warzant of porsecution on tho part of (he Btato for heresy or unbehuof, nud also of tho establlshmont of Btate religions and enforced canformity thersto, TUE ABGUNMENT YOR FREE TRADE AN ANQUMENT YOI ANDNDANCE. The roneral reyult for whick alt men Jabor s to jucreasn the abundance cr duninelh the scarcity of thoso things which are essoutial to tleir “subsistenco, comfurt, and bLappiuoss, Different individuals are euduwed with diTercnt batural capac.tios for makiug tha varions forces Of usture and variotios of matter available for praduction. Ono man s natnrally fitted to oxcol na A farmer, anothior an & mechanic, & third as a navigator, a faurlli as & miner, enginooer, builder, or orgamzer aud director of nociety and tha like, T'ho difforent countiics of tho caith hikewino oxbibit groat diversity as reapects soil, elimato, patural producte, and opportunity, It would #oem clear, thoroforo, in urdor that thera may bo the grosteat matorial abundance, that each Individual muat follow that lino of production for which he is beat flited by natural capacity or ciicumstancos, sud that for tha dotermination of what that lino shinll Lo the promptiogs of in- dividual solf-intorest and experience aro o far bettor guido than any suactment of Lagislatures and rulews possibly can baj aud tinaily,” that the preacest pousiblo facibby should be afforded to pioduvers for tha intercliongo of their soveral products and rorvices, Fieo exchango Letwween man and man, or, shat is tho samo thing, Freo Trade, in action in ace cordauca with the teachings of naturo, Frotec. thin, on the other hanid, i an attompt to mako thiugs bottor than naturo mado them. Fron 'I'rade, or the iuterchange of commoditiea and Harvicos with tho minimum of obstruction, by rendering commoditioa elieap, tenda to promota abundance. FProtection, by interierenco or plac- fng ubstructions in tho way of cxchangen, teuds toancreuss tho cost of commodities to Lho con- aumer, and thoroby promotes searcity, 'rotee. tion, uffected by legislativo restriction on ex- changes, aets, thereforo, in tho samo manner as all other things which render transportation on- otous; or, in other wordy, it 1 anabatacle in tho samo souso ns a bad rond, a precipitons rango of mountaing, an intervoning Acaen, or a wido ox- paune of ocsan abotuding in rinks to navigation ; the genoral effect of all wlich is Lo augment in various degrees to consnmers tho iflfaouce be- tweon the produco:’s aud tho vender's prices of commodities. Tuo direct effect of a protestive duty, when it iu Toally oparative, is to compul, ou the purt ol the commuuity employing such no agency, o reantt to more dificuit and costly conditious of vreduction for thoe protected article ; and alwo whon o community adopts the_ proteetive policy it commity iiwell” to the indorement of the principlo that tho development and propagation of nbstacles 18 equivalont to, or the surest metliod of, developing or nrnra::lllllln richea, —a policy and o prineiplo which, if logically and practically carricd out, would lead to divuse of &ll labor-anving mochinery. ‘I'he advoeacy of Protcction, however, meats thin avermeout by saving that prohibiting or restricting tho nnportation and 1o of foreign (xay) coal and stecl a demand wilt Le croated for a corrospondivg additional quantity of similar Ameriean poducts, — Tho “immediate result of tma would bo that an additional oppor- tunity mnat jn cousoquonco boe afforded to American citizons desirous of followig the oc~ cupntions of coal-minora or (ransportors or steol-makors; and, the resulin of their laborand expepditura remaising it tho country, the ua- tional woalth will be thereby augmontad, whero- a4 f tho kame amount of labor and expendituro in diverted toand takos placo in a fore, try, the resuit will bo exactly oppowmite, In answer, now, (o thiv, it may bo said: First—That tho amount of consumption 1 the two instances, and contequontly the results of consumotion, will not bo tho samo; for whatever increnses tho prico of a usolul commodity diminislios its con- sumption, and, vico vorea, whatover diminishos tho rica [ocreasosconsumyption. Second —'T'o ad- mit the dosirability of creating an opportuuity of omploying labor, through the ageucy of a tax on all cotisumers of coal and stecl, to do work that would yicld to tho samo ounsumers s groater product of the sntos articles if porformed olso- whoro, or an ¢qual product at less cost, i4 to ad- nutk that tho nutural resources of & country aro #0 far exliausted that there is no opportunity for the truly proinctivo employmont of labur,—an argumont whick, however effective in ovarpopu- Iatod countrigs, can bave no possibie apphieation in n now coun:ry ko the Uuited Biatek, whose natural resourues, wo far from boing exhausced, ato yol, a8 it wero, unaporopriated nnd unox- lored. Again, & tax levied in] pursnance of ogisiativo enactment for the maiutenance of #iuch labor is clearly in the nature of a forced chmity, whilo thoe potitioners for ita cuactmont answer in evory particular to tha definition of the term ** pauper,”—namaly, ono who confessea that he canuot carn nliving by Lis own exer- tions, and, therefore, aslis 1ho community to tax themustves or diminiul thoir abundauco for nis suppoit. Third—Tho ouly triuo test of tho in- creaso of national wealth fs the vossevsion of an {ucreased quantity of neeful things in tho ag- gregate, and not in the amount of labor per- tormod or tho number of lahorers omploved, Irreapectivo of results, A tariff, from ite vory natuio, cannot create anythiug ; it only affocty the distribution of what aolrcady exists. If tho Imposition of restrictions by mesus of taxes on imports enables a producer to omploy & larker outnber of workmen and to give thom bettor wages than before, it can be accomplished only at tho oxpenso of the domestie consumors, who pay incrousod prices, Capital tbua transforred is no moro increascd than is wonoy Ly Lransfor- onco from one pocket to snothor, but on tho coutrary it 18 diverted from emploving tabor that in naturally protitable to thay which 1u naturally unprofitublo. PROTECTION IN REALITY DOED NOT PROLECT, Hercin, then, fs oxposed the fallncy of the avermont that duties lovied on the importation of foroign commoditioa protect hume industry, 1t may be conceded that cortain induatries may Dy tomporarily stimulated, as tho result of Auch dutles, and that the producers may obtain largoe profits by a consoquent inoresso in the price of thelr products; but then it isat tho exponso of thoss who pay tho incroaned price, who aro al- waya the dowestic consumers, ‘T'o further mako clear this position, tho following iiluntration, drawn from sctual Amarican oyporieuce, is sube mitted: For a number of years subsoquout to 1840, Congress, with n viow fo protoctiug the American producer, imposed such a duty on for- eiun salt as to restrict tho imyort and at least doublo tho prico of this commodity, whether of foreign or domestic production, to the American consumor, Tho result was, taking tho averaga rico of No. 1 epring wheat for tho same period n Clicago, that a farmor of tho Went, desirous of buying salt in that macket, would havo beon obliged w give 4 busbels of wheat for a barrel of salt, which, without the tariff, ho would have readily obtained for 1 bushel, If, now, the tax had been imposod wolely with n viow of obtalne ug revenuo, sud the farmor had bought im- osted walt, the extra bushol givou by him wonld, hava aécrued to the Lenetit of thoe Biato ; and if tho circumstancos of the Governmount required tho tax, and fits imposition woe expedient and ufluhuhla. tho ack was nob ono tu which any sdvocato of Freo I'rado could object. Dut in tho case in question the tax wae mo. fmposed Enmu:lly for rovonue, as woy shown tho clrcumstunce that imports aud revenune greatly decroased un- dor its lutluenco ; and tho ralt purchused by the farmer in Olicago was domestic malt, which had paid no direet or correspond:ng tsx to tho Qavernwent. Tho oxtra bushol of wheat, there- fore, which the farmor wus compelled to give for his salt acerued wholly to tho bonoilt of the American salt-boiler, and the act was justlfiod on the ground that Ameiican industry, ae ex- emplitled in walt-making, was protecied. And yot it must ba cloar to ovory,mind that if tho farmer had not given the oxtea bushel of wheat to tho kalt-boiler, io would havo had 1t touse for soma other purpose advantageous to himself, —to givo to tho shoomaker, for example, in oxcliane for & pair of brogaus. By so mucl, therefore, o4 the induatry of the salt-boilor was oucour- nt;ud, that of tho farmer aud the shucinakor was dlacouraged; and, putting tbo whole matter fu tho form of a com- morcial statomont, we lave the follow- fog result: Undor the so-allod * protactive uys: tom" a barrel of walt and 2 bushols of wheat were passod to tho erodit of what is callod “*home industry,” whilo under a fres system thero woro & barrel of sslt, 2 bushicls of wheat, aud a pair of shoes, I1otection, thorelore, sooks to promots mdustry st tho expense of tho rronl— ucts of industry; aud 1ts fuvorite proposition, tnat tuough under a systom of resirictlon a Ligher price may be giveu for au articls, yet all thint fs paid by ono is givon to somo oshior per- son {n jucreased ciployment sud wages, has tis fallacy, nsmely, bhat 1t conceals tho fact that tho eutire amount patd by thu cousumer would, *‘in the long run,” Lavo buen equally expouded upon something and somebady if tha cousumor had boun allowed to buy the chisap articlo wutoad of tho doar one, and conrequently tho losy to tho cousumer fu bLalanced by o ad- vautage in the azyrogate to any onv. INFLUENCE OF PUOTKOTION NOT FERMANENT, BUT TEMIOBALY. A further conclusion, aillko deducible from thoory aud proved by sil oxpo:ionce. 1s that nol ouly daes I'rotection to a spocial industry not ro- suli in any bonotit to tho genoral iudustry of ocouusry, but also that its beneticial intluence on auy special industry is not perwancat, but teme porary. 'Thus the price of no articlo can bo per- manoutly advanced by artificlal agencies withe out au offors on the part of overy person diroctly or indirectly concorned in fits cousumption to protect aud componsate hiwsoll by advanciog the prico of the labor or products be gives lu ex- cheugo. If suflioient time 1s afforded, aud local oxcliangos are uot unduly restricted, this effort of compensation is slways wsuccessful. Houce, from tho vory nocessity of the case, g Drotects ive duty cau be' pormancutly effoctive, {Ionce. llhm. 1t lr ; that ‘lu'ululm] wauufao: urers slways prociaim, sud 1o douf foel, that tho abandoumeut of ‘_r:‘uch:::ng even ita abatemeut, would bo ruinous : sud 1n ai] history not_ouo caso can be cited whers the represontatives of ap juduatry ouce protectod Luve evor come formard aud suked for au alate- | THE CIIICAGO TRIBUNE: SATURDAY. JULY 24, 1875.---TEN PAGES. ment of tazatinn on the gronud that Protection had dono Ith work, 'That the principle horo jaid down, of want of perwansncy in protective 4, 1n furthermore a:dlmitted by tho pro- 1 (Amorican) manufacuirars themnolven an arosnltof thoir own expetionce, ts alao proved by tho following toatimouy, forged ont under onth bofore a Goverument Comminwion from one of tho toremoat of their number 1 18(4—the Into Uakew Atnon, of Alaswachusotis: Question—* Waat, according to your oxpn- rienco, wan tho effeet of tha increase of tanif in 1564 on tho inausirics with which you aro spe- cially acquainted ¢ Answor—*+Tho firat offeat was to stimulale noarly overy branch, to give an impulse and uc- LvILY to bumnesa; but in p fow moutbs tho in- cronsed cont of productiun and tho advanca In the prico of Inbor and tho products of Iabor wera greuter than the increasv of tho tundl, so that thio businoss of production wum no botier, aven if i no good &_coudition, aw it was previous to tho adyance of the tariff reforrad to,” WILL FRER TIHADE TESD T DIMINISH TRE OP FONTUNITIES AND NEWAKDS OF DOSEBIIU INe BURERY 7 Upou 1o one argumont have tho advocaten of Protection rolied wwore, it supportof their sys- tem, than the assumption that, if thero wore no testrictivns on trade, the opportunity of labor croatod by Pratection aud tho 1esuits of the ox- pouditure of tho varuiugs of such labor would Lo divorted to othor countries to their bonelit, aud to tho corrospunding protection by reason of a nocensity for paying lugher wages or othor iu- dustrinf inequalities, sbandons 1t ; or, to spoak ore spacifivally, it is assutued that 1f the United Statos weie Lo adopt a policy of Free Trado, England would supply us with cotton and motal fabrications, Germuny with woolen gooils, Nova Seouis with coal, tho Wenst Indics cxclumvely with suger, Iussia with bewp and tailow, Cavada with lumber, and Ausaalis with woul 3 that theoby opportunity to our own 1 eoplo to fabor would bo groatly rastrictod. and thy wages of Iabor bo reducod (o a lovel with thie wagos of foreizuers. Bpecious ag iy this argument, thoio coutld nut bo o groater eiror of fact ur & worso £ophusm of 1onson. Nono of the commodiies 1nontioned will b given by the producers rosi- dent in foroign countries for notling, rodnct for product I3 Lwo juvariablo law of oxchange, and wo cannhot buy & #ingla articlo abroad enve through tho medium of “something that must bo produced at homo, Ienco tho utter ub- surdity of that arsertion nlich, to 'rotectiou- intn, necmm pregnont with such dreadul mean- ing, nawmely, *thut, under Free ‘A'rade, wo shvuld bo deluged with foreign good or it niore should bo roally imported nuder a I'roo- T'rade than tndor o Protective policy, thou ous of two things would take placo: eithor we must produce more at bomg, in vrder Lo pay for tho 110w axcods of imports, in which caso doniestic induatry would be stunulated, sud not diminishe wd; or, uot producing more, wo must oliain more iu return, or, what is the samo thing, o biglier price for what wo alroady produce.—a re- sult manifestly conduocive to uational prosperi- ty. It would ulso seem to o in the uatutoof n rolf-eviidlent proposition that notluny under any circumutanco eann or will be imporied unless that 1 which it is paid for can bo produced at honte with greater final advantage. Again, tho favorite Prutectionist argument that, it trado is unrestricted, and the poople of a countrs, undor tho inducemont of @ groater cueapnoss, sro allowed to eupply themselven with for- cign commoditice, tho opportumitica for thio employment of domentic fabor will Lo correspondingly dhminishied, is av nignment identieal in churactor with that which has io past timen often led individuals and wholo commuul- tics to oppose tho vention and mtroduction of Ilubor-saviug or **labor-dispensing " machinary. Dut to auft thoronghly this eophlsm, 1t is suf- flelont to romeinber that labor is uot oxerted for tho sake of lubor, but for what labor brings, and that buman wants oxpand just in proportion to tho multipiication of tho meats and opportunity of gratifying lwnan dosres, I the wagos of & dny’s tabor would purchase in tho market ono bundred timos na much s at prosent, can auy ono doubt thut the demand for the nocessarica aud_Juzurivs of lifo would be increased & huu- dred-fold? If the pcople of this country could obtain tho products of tho labor of other countries for uothing, could tho Inbor of tho whole world supply the quantity of things wo shoutd want, In short, tho demand for tho results of labor can uover be atisfled, and is novor limitod except by its ability to buy ; and the cbnnircr tlungs are, the moro things will bo purchasod aud consumed. Nothlog, tuero- fore, can bo moro irrational than the aupposition that'increared clienpno:s or fucreased ability to buy and consume diminishes or restricts tho op- portunity to labor. From theso promiscs, thereforo, tha following deductions may bo repurded as 1u the usturo of oconomic axions : Firal—A ualion or commu- nity can atiain tho greatest prosporicy aud so- cuare to its people tho groatest degroo of mato- rinl abandauce ouly whon it ubilizes (s natural resources anrd labor to the best advantage aud with the least wasto aud loss, whitever may bo the wuominal rate of wages paid to Isborers. ~Tho reahzation of such & result 18 lastenod or retarded by whatevor removes cioates obatructions or intarforoncos ip tho way of pioduction and ex- chaugos, &Seccond—The oxports, on the whole, of any country taust and always do bulance its imnports, which is equivalont to aaylni that if wo do not buy we cannot gcll, whilo neither buymng noe solling will tako pinco unloss thoro is a real or supposed ndvantago to both partics to the transaciion. Zhird—Aa a ustion exports onl thoso things for which it possessea docided ad- vantagoy rolativaly to othior uatious in produc- ing, it followa thet what o nation purchiases by ite oxports it purchases by ita most eflicient labor, aud conssquently at the cheapest possible rate to itself. Iieuce, tho price paid for overy forolgn maunfactwiod atticle, 1neted of belug #0 much given for tho oncourasgement of foreign Inbor to the projudica of our own, i as truly tho product of our vwa labor e though wa had di- reetly manufacturod it ourselves. Lres Trade, therofore, can b{‘ na possitnhity dircourspo home Inbor or diminish tho 1eal wages of labozers. DOLS PROTECTION ENCOUBAGE DIVELSIIY OF IN- UsTLY ? The averment that pruhibition or restriction of forsigu lmporta oucuursgea diversity of do- mostic isdustry in answored by saying that nLicn any trado can bo introduced or undertaken for fiucal or public advantage, privato entorprido in competent to 1ty mnmull!hmunl. T msk for more {5 only to nsk to Lave a fugerin the pub- lic pureo.” "It mny bo possible to couceive of apecifio caacs in which it might bo politie for o government to give sn advautage for a limted timo and for » dufinite object. Dut Protuction, as an ecouomic system, caunot rightfully claim auy II3:|)0rl from’ such av admisston, inasmuch ax'ita demands is that tho public sball bo obliged to support all munufacturing entorpriscs upon no otber ground thau that they canuot support thomuyolves. DOES PRUTECTION TEXD TO CHEAPEN MANUFAC- TURED PRODUCTS ¢ Drotoction, 1t ie allegoed, Las a teodency to make what aro tormed manufacturod products chiosper, A vory fit and cogent aumwer which bas been mado to this assortion of the oppu- nonts of Froe Trade is, that, {f I'rotoction is to Lo recomnmended becnuso tt leads ultimately to chieapncsy, it wero best to bogin with chieapn. ss. Auathor muswor s to bo found in the circum- stance that not a single instanca can Lo addnced to show that any reduction bas ever takeu placo in Lhe cost of production undor a syatom of pro- teetion, through the agoneien of uow fuvention discoverivs, aud economies, which would not bave en plece egually soou under & wyntemn of I'ree Trude; wifilo, on the coutrary, muny justances can bo roferred to which piovo that Protection, by removing tho droad of foi= eign compotition, "bas rotarded not only wwven- tivu, but also the application and use of im- provements aud fuventions elsowhers doviscd and ivtroduced, Thus, roferriug to the expori- enco of the Unitad Btates, whore tho systei of Protection Las in goucral prevailed for many yoars, it {8 a woll-knowu faot that the dopart- wout of fndustry which bas been distinguished more than auy othor by the invention sud appli= cation of labor-uaviug wachinery is tuat of agriculturo, which has mever beon protecied to any extent; and for the reason thatin acoun- try which rafses & surplus of nearly allits agricultural producta for wals in fureign countries 14 never can be, On tho uvtler baud, 1 that departwent of industry eu- gugod in the primary manufacture of irom, which bias always beon especinlly ehielded by bigh restrictive duties, not onty from foreign competition, but aleo from tho uneccsuity of thu exorciwe of scouomy aud akid, the progress in the dircction of iwprovemont has becn so slow thint acconling to tho report of the guvlogical survey of Obio (1571) thero is bardly & furoace in that great tron-producing Btato that can bo comparod with the best Epglish furuaces, in re- spect eithor Lo cousbructiun, mansgewont, or product, sud that ' thero iggcarco suy art pra ticod by our people so emineutly progreasivo,” which 18 ** #o far from having reachiod porteciion as thid one* of simple iron-swelting. DOE IT FAY TO EFFECT A BEDUCTION QF PRICES DY ABTIFICIALLY STIMULATING FUODUCTION 7 It lm.r rtiueut to uotice au ideaadoptod by & scbiool of Awerican economists or polibii that it is for the advautage of a country to eu- deavor 1o elfoocs s reduction of prices by the cre- ation, through legiaiation or otherwise, of su exvesstve or artilicial stimulug to production, ‘Fust the creation of au artiticial stimulus to do- woatio productiou—such as is alwost always temporarily afordod by an jucreass of the tand, or by which, which noceasitates oxiravrdinary supplios—doce Lave the effect Iu tho first fue stauco to quicken cortaln Lrsuches of preduce tion, nnd mybeequently tn redncs prices, throngh the competition ungandered, cannat Lo dunbted ; tmt oxporfenco ek:ona that in almost overy suct inntanca the rednction of prices is 8 Tectod at tho expennn or waste of capital, aud that tho goner- Al Feault, 1n placo of Lowg & gain, 1 one of the woist evonts that can bappen to s community. ‘I'hus, the lirat effact of creating an extraorlia- ry domentic domand 14 Lo increano prices, which in turn affords Iarge profits to thora in poeroskion of stock on hand or of tho wachinery of jnu- duction roady for immediate seavice, Tue pros- pect of the roaiizetion of Jargo profits next im- molmtely temptn otbors Lo engage in the rate isuch of production—in maany cases with in- mllicient capital, sl without that practi- eal kunowlodgo of the details of tha une. dortaking crsential to kecuro miceess. As pro- duction goos on, supply graduslly becomes equal to, aud fnally in oxcemw of, demand. Tho producera working on insudicient capital or with iunulticiont nkill Ato Aoon obliged, in order to wmect impending obligations or dispose of inforior products, to force sulea through a reduction of pricow, auil tho otuers, in order to retain their markets aud cnstomers, aro soon compolied to fullow their examplo, Ttm, 1u turn, s followed by now couconrions altotnately by both partios, whichs aro accompaniod by tho usual resort of turaing out ariicien or products of inferior qual- v, bt with au exterunl goud sppearansa—slate being submtituted in Flm:n of coal; cinder in placa of iron; shoddy in_place of wool; starch and #iziug in'tho place of cotton; pastoboard in the mannfucture of boots aud khwes in tho placa of leathor ; and clay in the manufacture of paper in tho place of fibre. Aud ko tho work of pro- duction goes op, until gradusliy tho whole iudusiry Dhecomen dopressed and demorahized, and (ho weaker producers succnmb, wibh a geouter or losa dostruction of capital and wasto of product. Affars having now reached their mivimum of dopression, recovery nlowly cume- mences, Tho jucreass of the country causes consumption gradually to gun ou prolicton, aud finally the cowimuuity saddenly bocomes aware of tho fuct that the nnp&xly Lins all at once becume nuequal to tho demand. Tlien tho<o of the producers who hsve been able to mamtain their oxistence euter upon mnother period of business prosperity ; others again rashinto the business, aud the old jexperivnee is seaiu and again repeated, Such haw been the listory of the industry of tbhe United States " un- der the attempt to restrict tha freedom of trade by lhigh duties on imjorts, frequently modified ; and puch also was the cf- feet of the War of ¥ To use a familiar oxpreseion, it hag Atwava beon oither * bigh va- tor " or **low water " in the manufactiing in- dustry of tho country,—uo muddle conrse, no stabiiity. Wbat the peopla Linve guined at ono time from low prices as consutnera they have moro than lost at another by the reeurienco of extra rates, oud thoy have sk lost, B8 frodu- cera, by periodicnd suspensions of industry, spay- modic reductions of wages, and depression of busiucss. Meantine, the losa {0 the country from destruction of capital and the wante of miapplication of labor bas been romothing which o man can cetimate ; bat to which, more than toany other one sgency, the presout remiark- ablo tudustrial deprossion of thu countly must be eetributed. LAWS ESTAULISHING TROTECTION NECESSARILY UNILHT AND U SSTaAL Ono of tho ensentinl atinbates of & just law Is that it bears oqually upon all subjesied Lo its in- tlueneo ; and it would alko seews elear thot the goieral effect of an unjastisw imposing protect- wvo duties nust, in order to bo effcelive, be partial and discriminatiug, aud, therefore, un- equal sud unjust ; for if a law conld be devired which would "afford equal protcciion to sll tho industrial intercsta of a nation, 1t would benofit, in fact, uo futcrent by feaving everything rola- tivoly as beforo; or, in other words, tho at- temjt to protect cvorsthing would resuit in protecting mnothing. Aoy eystem of laws founded on injustico “and inejnali- 1y cann furthermore, be permancut, ‘Ahe possibility that it may be further chaugod to mcet the mcreased demands of spccial inter- esls, and the justinctivo rovolt of human nature agamst legal wroug and partiality, contimually threaten it etability, lence, n systom of in- dustry buiit upon laws establishing I'rotection through discriminating taxes cau never havo stability of condition, and without such stability there can bo no continued industrial prosperity. On the otbor hand, one of tho sirougest argu- meuty in bealf of frecdom of trado 18, that it makos every bratich of industry independent of lemislation and omaucipates it fromail conditions offocting ity stability other than what ato natural and whieh can in a great degros be anticipated and provided ngainst. DO YOREIGNEUS FAY A TORTION OF OTI TAXES OX 1trouts It in often assorted by the advoeates of Protec- tlou that & taril on import, Lliges & foreignor to pay a part of our tax=s,” To this it way be roplied thatif thero wero any plan ordevico by which ono uation cottld thus throw off ita burden of taxation iu any degreo upon another nation, it would long ago hnve been univorsally found out and recognized, and would have beeu adopt- od by oll nations to at lenst the extent of making the burden of taxation thus teansforred in all cases rociprocal. 1f the principlo involved m tho® propusition in question, thorefors, could possibly be ttue, no advantago whatever could accruo from it application. But tho powmt itaolf wnvolves an absurdity, Taxes on imports aro paid by the persony who coustnme them: an theso are not foreigners, but residonts of the country into which the commodities aro fm- ported. A duty on lmports may injure {fu ciguors by depriving them of an opportumity of oxchabging thoir products for the products of the country imporing tho duty, but no im- port tax will for any length of timo compel for- eigners to scll their products at a lows, or to nccopt less than tho avorago rate of profit on their trausactions; for no business can porma- nontly maiutain ilsolf uuder such comlitions. Where a nation possesses a complete monopoly of au article, as 16 the caso of Leru in respeet to guano, and to n great extent with Chiua in tho caso of ten, ths monopoly always obtaivs tho Lighost practicablo prico for its commodity, and the persous who find its use indispentable aro obliged to pay the presoribod pricow. Tho lmpo- sition of a tux on the importation of such a cowmodity mto a country may compel the mynopoly, for the sake of rotaining a wnarket, to reduco ity prices proportionately, and fn such cades tho nation imposiug the lmpost may to degeeo shoro tho profit of tho monopoly. But tho prico to the consumers {8 not diminished by reason of the fmport duty, sud the cases in which auy jutercst g such & complete control over tho supply of a product as to euable it arbi- trarily to dictate prices are 8o raro as_ hardly to rondor them worthy of serivus consderation iu an sconomio srgument. THL PEACE AND WAU ARGUMENT. Anothor powerful arguuent in favor of Freo Trado between nations 's that of all agencios it 18 the ono most conducive to the maintenauce of intornational poace and to tho prevention of wars, ‘Thorestniction of commeorcial intercoursoe among nations tends to make men strangera to onch othor, aud provouts tho formation of that union of wmaterial intercste which createw and cucourages in mon & disposition to adjunt their diforoucen by veacolul mathods rather thsn by l!h?ulul forco, On tho othor hond, it ru- gulres no argument (o prove that Frca Trads i s fullest dovelopment tends to make men fricods rather than stiangers, for tho moro thoy exchauge commoditics abd Eervices thio moro they becomo acquatntad with and as- similsted to oach othor; whersby a fooliug of in- tordependanco aud mutaality of interast springs up, which, it may bo safelv assumed, does more to maintain smicable rolatlons Letween them than ull tho ships of war that over wera built or all the armlics that over woro organtzod. Of the tiuth of thia tho oxporieuce of England sud the United States {u rospect to tho Alabama claimy ie & striking example, .Tho moiul and religious nentiments of tho oople of tho two countries undoubtedly contributed much 1o restrain tho bolligorent ~ foelings that existed previous to tho reforence of the cluims to arbitration ; but a dtrougor restiaiulug elomont thau all, sud one underlying sud supporting the moial anl roligious nfluences, was a fosliog among tho gioat body of the peopis of the two nations thut war, as & moro businoss sransaction, ** would vt ay;” and thut tho commerce and trado of the nited Btatos and Urout Lritain sre so jutor- liuked aud interwaven (Lot a resort (o arms would result fu permanent sud {nealonlable jm- uverishment (o both countries. Onu argument, owover, il favor of DProtection, which id said to take strouger bold on the populur mind thau sluost suy other, fs the assorted uocessity of artilicially stimulating by logislation all mauner of domestic industrios, 1 urder that the country way nob bo dependent on othor ustions for martial roquisitos in caze of possible toicign war. Tho jirst auswer to this avermont is, tLat whatever way bave beon our coudition hereto- fure, the power of production at prosent iu the United Btates {8 wo great, vo varied, sod o per- wauently cstablished that it is bard) pofllbllu to couceive of & coutingoncy tn which the uation could be inconvenienced by a deticioney of any waterial uquisite for the carrylug on of war, with tho exception of tho twe commodities, gold and ealtpetro; and it will not ba protended by sny ono tuat the domestio supply of either of theso articles osu boadvantageoualy incressed by restricting tholr tmportation, Second—With a vigorous, patriotio hosnlmou. especially i tho sawo be supplententod, a4 in tho casa of Eu- laud snd the United States, wik favorable natu- ral conditions for defonaw, that uatiou, under our prosent civilization, will bo most wvuluerable fn wit which can fvcur and sustain tho gicatest aud longest contiuned expenditure, or whicly, in other words, 14 posuesscd of tho greatost ha- tional wealih, But nationat wealth increasen in A ratio proportioned Lo the removal of ohetaclrs in tho way of tho developmeny of trade, come marce, and ol productive in Lietries, whetlier such rhataclen Lo In tha naturo of an imperlict eduration of the peazle, or i the natnre nf bad roads, Ligh mouutaius, impenetratls forests, trackiens deserts, popular prejudices, or I gal commercial restrictions, which impedn o free ine terchango of commoditics ar WY FRER TRALUK 14 KOT 1M VERSALLY ACCEPTED. ivn horo uututaily arie above propositions i favof of I'res Trade are correet, aud af the doclrtne of I'rotection 1w as falne and mjutions as it is toprescuted to Ve, hiow Lanpens it that 1'reo Trade doca nut at ouco weet wivh universal aceaptance ? and how is tha asdlierenco of many men of clear intellect nud practical experienca Lo the opposito doclrine to b acconnted for 2 Ono of the best answers €0 theee questions was given by the celebrated Erench econenu-t, Basuat, in sn aricle written wany yoms . eutitled “Thnt Wlich 14 Seen anl Which Ja Not Secu,” o wlich he ahosel that Protection 1k inly by & viow of what tho pro- suing nud a concratment of what the cun- otaer losed ; and that if tho losos of the mill- 1ot were paleut and palpable ns ths profits of the fow, no nution wonld telersto the system for & winglo day, Protection accumulates opon o singls pointthe good which it eifects, whilo tho ovil which 1t inthicts in infuseil throngliout the colmmumty ag a whole. Ti tirst result strikes the eye At once ; tha lalter requires Aome iven- tigation to becomn clearly perceptivle. Man- kiud also divice thermmelves into two classry, — producers aud cousutuers, buzers and scllen, Tha interost of producers and sollers fa that pricen kliall bo bigh. or that theio shall e seare- 1y : tha intorestof conaumera and buyers 1s that prices shall bo low, or that there rhall Lo abun- danen, ery person will aL onco admit that it in for the geueral ht thut there slisll Vo ubundance, 18tlier than gearer Burin the cate of individuals controlliv g lar, feaeies for i Cal kd | 1 solicrs of largy quantitics of bo mado gieater than th CAL B3 Conle eamern, 1f by tion tho price of what they mroduce can bo raired. by disciiminats ing lawe, gisproportionately over what they cone or of the cokt of prodacriou. Mon of claus are generally rich bayond tho averaze of tho community, auil therafurs influestiai in controlling legwlution and 1 defermning tincal policies; andat iy Lut natnral 1lat in so doing thoy khould couitit their own nterentn rather than the interests of the mmesey, The time Lowever, is 8oou coming, when the peopio of t! Urited States ** will wuke an it wers fiom a dicam, aud asgk who ot wa+ that vorsuaded them thit the way Lo be rich was forevervLody to give a4 wuch a8 Jo=nible for everstling.” CONCLUSION, Tt only remains brelly to otice tha testimony of Lintury in respect fo tag anliaenc of frea trade o8 an economic prineiple upon the davel- ojment of natinna anl tuo progress ot clvihzae tiun, In tho carlier ages in Europs the principle that trade or commcrea i4 matna'ly advauta- neoms, and that after every fair mercantile trau: nction both parties are ricber than before, was nut understoud, On tho eontrary, the g ! aceeptad thcory among both uations and indivit uals in respect to trado was pithically em- Lodied by an old proverb, * What i4 one man's gain must ho avother maa's Joss." Commerco, thereforo, 1t was ausumed, could benotit ono country only sm b iujurcd some other. In accordance, thercfare,” with this princi- ple, overy Btate in Christondom, in placo of rendering trads and commercs free, exerted iteolf to 1mposa tho most baramxing ro- strictions on commerzial intercourse, not ouly an betwecn dilfercut cuuutries, bus 0 04 between districts of the gawo country, and even ny b>- tween man aud mon. 1f one nation eaw protit in any ono manufacture, all her efforts were at onca directed to frustiata the attempts of other cations to engago in the xame induxtry, Suo must encourago tho jmyportation of all tue rawy materials that enterod inio its prodaction, and adopt &n oppoxito rule as respected the tinished article. With the progress of civilization, and thie consequent diffusion of information, the ar- Litrary reatrictions on trade above noticed, whicll wero formerly so common in Lu- rope, have almust entirely disappeared, and men now wonder that uny benetit conld ever have been supposod to aceruo from such absurd and monsirous regulations, But tha change to a more liberal utato of things, though commtant, has been rlow, nud the policy of the Middlo Ag i tho process of modification and extinetion, gave place to the so-called and more modern Poliey of * protection.” which, whilo cleaily recognizing the impolicy of interferiug with dowertic exclianges, resards forcign tredo aw sometbing diffcrent from any other trade, whicl 1t 18 for the iuterest of the Btate tointerfera with and regulate. But undor tho samo intlucncos of 8 progresaive clvilization this svstem, too, in like mauor, is diraopearing. In this work of prog- rexy Ureat Dritain took the lcadin 1811,~not from a change 1n popular eentiment duo to bot- tor acqunintance with theoretical principles, but from u reulizaticn, on tho part of all clauses of the people, of the rasults which the recoguition and practico of the policy of I'rotection during n period of many ycars had entsiled upon the country. Thoso resulty sir. Noble, in s work, ‘ al Legistation of Great Uritain,” thus fbes: 1t is utterly impoesiblo,” Lo to couvey, by mero stutistics of any adoquato picture of the candition of tho mation when Sir Jtobert I'ecl taok oftico in 1811, Livery interest in tho country was alike dapreesed :'in tho manufae- turing d:etricts mlls and workshops were closo 1 and property depraciated in valuo ; in tho sea- ports elupping was laid up uselesn in tho harbor ; agncultural laborers were cking out & miserabla existenco upon starvation wages and parochinl relief ; tho revewe was msuflicient to meot the national ex penditure : the cuuntry was trought to the verye of national and universal bauk- ruptey.” Enclaud, thorefore, #s it wure, under compuleion, nnd with very pravo donbts on the part of many of her ablest tinanciers aud economists, under "tho Iend of Bir Rubert Pecl, abandoued Protection as tho natioual poliey, and rradunlly adopted the appozite prmciplo of Freo Trado with all the world, The ramo author above referred to, wrting in 1863, draws the following picturo of tho retults of this chaugo of policy bLased oo tho expuriencs of sear & quarter of a century: It has rondered ngriculturo proaperons, largoly aug- mented rent, vastly extendod manufactures and employment, ivereased tho wages of labor, and, while securing tho colloction of anincreased revenue, has, by improving the valuo of proper- ty, lessoued the burden of taxutinn, It Lius boen shown, aleo, that oach successive dovelopmont of tins beneticont legislation has oxtendod thons rosuity,” The uxumlllu thussct by Great Dritain Ly in turn been followed in a greater or lews degree by most of tho other States of Europe, aud in 110 oue instauco where a relaxation of proviously exinting commercial reatrictions bas onco been made, snd fairly tried, bas thore heen any sorioua retrowrcssion, It 1a alwo curious to nate, concorning the people of tho United States, that so well satistiod are thoy with the principlon of I'ree Trade, whou appited to domostic trannao- tious, that thoy will not allow tho creation vr maintenance thronghout the wholo of the broad torritory they inhab{p of the elightest artificial obstruction to the froest exchange of products ar to the freest commercial or personal move- ment ; and this, too, notwithstanding that tho diferent Blates and Territorivs into which tho country 18 divided difter amony them- selves in rospect to wages of labor, pricea of commodities, chimate, suil, snd other natural conditions, as widuly as thie United Btates as a whole differs from auvy othor forelgn country with which it Is engaged in extoustve commer- cial futercourse. And yet wo havo tho strilting and anomalous circumstance that a very largo number, pethaps a wsjonsy. of tho Awerican poople regard trads with forclgn nations as womothing very diferout from trade among themselves, which should therefore Le snbject- od to ontirely diferent Iaws and conditions, But a slizht examinstion ought, it woull ssem, to prove that foreign trato presunts no olowent #ays, our _exports, peculiac to itsclf, but ouly ths samo vlements which domeatlo trado pro- seuts, and thut, consequently, the ssmo laws and conditions that ure spnlicablo to do- mestic pxclisnges aro equally applicable to fors aign exchavges. Men. moreover, do not cugage in uny trado, foreign or dumestic, for meru ous Joyment or ploasurs, but for the matorial gein whien ncerues to both partivs. ‘Thoy dotist froui 1t wlvo a3 woon sy the mutual advantugo ceaced. Thae rolation, thou, wiich tiovernmeut ought to_sustain to the whola question of ox- chanves id well expresscd in tho sngvor which tho werchiants of France gavoe to Colbert mare than a coututy aud s half ago, when hea asked their advica and opiniun “now be could best promots commerce ™ ¢ Luisses nous fare” (Lot us alune”), Davio A, WeLLs, et o MY BELOVED, Choostug fit names to call wiy lady by, Whien 1 regard her majesiy of wic, Aud wark bow proud she 1, 1 ¢ Ay queen 1 In loyal luwiluess—ynud wmarvel why 3y lyva did ever dars ta louk s big] Dut when, anon, 1 feel tho wfy caross Of her ear eyes, fuliilled of tenderness And passiouste deairs, ** Darliug 1° 1 cry, A cuo who seen st luat Liy long-sougin’s ‘Nor thiuke of bigy or low, but valy b To love aud 10 by luved, LoW BWevt it & Tlen, gasiug vu Ler bosuty, ad clato Wik gladuess, I exclatm, #STiue, wine alone t 3y luve, ty lifo, my boantiful, tmy own " —Johis U. s 00 Uhe Gulasy Jur duyusk CALIFORNIA. Incorporation of ‘ths National Tole- graph Company---A Magnificent Gcheme, The Company fo flave a Capltal of 25,000,000 Interview with Prestdent Colien, Immigration to the Pacific Coast Diminish- ing—Soma Items About Lard and Vater. Eastern Farmers Obliged to Learn Agriculture Ancw---Republicans Taking ihe Of% fensive in the Stata Political Caripaign. Sgpecial Correspondenee af The Chienan Tritune, Bax Fraxcisco, July 16.—The schemo uf the now National Telegraph Cowpany caurcs o deal of commetit on the coast, Hearing to mueh about it, I concluded to cail on Mr. Alfred A, Colen, President of the Cotpany, and soek such trustworthy fuformation from Jum as wonld ho accoptablo to the readers of Tuw T Mr. Cohien readily and sgreoably imparted the vo- lited intetligonce, aud brought forth alko the vertilicato of tho Hecretary of Stato of Califur 1na, sunonncing that the articles of insnrprra- tion had already been filed, and uther legal sieps Laken for the GURATION OF THE ENTERPRISE, The ca; ital rtuck of the corporation iy §27.- 000.600, diviled into 250,000 ehares, of which amount £TL00LOM bias been pubsenbed in San Franusco, and 10 per cent of tho subecription padin. Fhe corputatore aro Meskrs, Michael ere, dames 13, Keene, C. W, Kellopz, Senator Sharon, William Busling, F. D, Atherton, aud Alfred A. Coben. Livers corj oratir is a mullione aire, while Sharon, Jteese, sud fisouo could put ap £30,000,00 without impoverisiing them- selved. As to the financial abikly of the Come prny thera can Lm no question of donbt. “Do thoy mean busineas 2" is the problem; and (o this point 1 addressed wy anquirios, The chiel abjocts of the Association, sy defined by Mr, Culien, 10 to mako money, aud aord the in- babitants of the Unitol Stetew, anl eapecially tho comuwercial communiti-a of the Paciic Coast, CIEAP TELEGRATAY. Tho President, Mr. Colen, believes that the investment wili ultimately vield a fair profit to tho etockhiolders. Tle pays it witl ba tho aim of the Company to make tho rute for trausmiseion of meseages go Jow that tha wires will Le Lrought iuto general ure for tho purposes of im- portant correrpondence. Accordinig tohis theory, e present tarill of £2.50 for a meseago of ten worda from Bau Francisco to Nuw York is nlmort probibitory,—so exorbitan: indeed that few of the merchants think of applring for electric mexpazes, except in cases of tho utmost impor- tanze, In responsee to my inquiry as to when and whero . THE WORK OF DUILDING would ko commenced, Mr. Cohen spid: 1t is our intention now to begin work this fall at San Frauci-co, ead ome iwiermediato poiut,—jer- Dape Chicago,—and push forward tho work on each duvieton unt:l the wires are rtreiched from tho Atlantic fo the Pacuic Coast. We expeet tirst to conneet the caef central citien of “the country, and when that is dune wo ehall extend thre line along the Atliatie keaboard from Forie 1and to Molale, and then up und down the Mie- sigsipp and Misgouri Vallevs, We hopeta cons neet New Yors and San rasicisco by telejraph under_our manageument bofuro tho 16t of Jaus uary, 1876." With referenco to the dienoral of stock, Mr. Cobicn #aid that sharas wouil not be plazed the New York markiot at present ; but gave it as bis opinioo that they would be offered within or about twelve monthy' time, Fpesring furtber, ho said: “Wo lave the monwy amd cnergy among tho corporatinus Linr iu Francisco 10 Luitd, equip, aud operate 75,000 wiles of tel graph, Wo shall fo to places whero uther com- Pauies have not gone, and wherever our lines may be cast we gliall offer to comummuitics witlen tho resch of then the very lowest tariif that can Lo afforded." Inreply to the question 8a to whether thoro wero any TROSISIONS 1N THF CHARTER to restrain tho National Telegraph Company from consolidating with otlier corporatious, or surrenderiug tho privileges to rival companies, ho azi 0 restrictions of thid character are imposed, but 1 can ss«uro you nevertheless that it is not the design of the Company lo build lines fur tho purposes of consulidation, or spees ulatiou for etliug them. thall satisfy the puh:k: in duo timo of cur good tath in this ro- card.” ¥ Tho National Telegraph corporatian, like another institation often heard of, 1+ undoubtedly paved with good intentions. 1f Mr. Cobien's ideay of management obtain constant fuvor with tho stockbalders, I have uo doubt the ** National” will proves great public bonefector. The peo plo of this coast, however, are not itkensibly to tho fact that the Westorn Union posscsees in n remarinblo dogree tho mysterions elswent of absorption, heuca thoy will aauit future eventy boforo subscriting liberally to tho isural stock of tho new corporation. THE DIMIGHATION TO CALIFORNIA is diminishitg slightly, Lut the Lext jidzes pre- dict that it will ba 1enowed next year in groater voluwe than ever bLefors, Toe newcomers thiy sear, exclusivo of the Chinero, pumber abuut 100,009, and they havo so seatterel themsolves all over tho facu ot thiy Pavitio Coast that one cat barely notice or realize tho jucrosso. 1 hiave diligemly phed wmy ofd end new Gmo aequaittances of thoe city and country with in- quities bearing npon the prevont condition and futuro prospocts of the hew settlers; and in truth it wast Lo raid, notwithetanding tho oft- circulated storics to the contrary, that the an- swer i8 almost invarlably favorable to Calfor- nin. In some mstauces, mechanies and labor- 18, who wers onticed hora by tho glowing do- weriptions of tho cotforts of fifo, togotlier with marvelou etories of high wages, bavo hovu disappointed. The disappointmont results from tho tuct that their resjoctive ticlds o cmploy- ment in 8an Fiancisco are protey well tilled, In the farmyug comuntuitica thero i4 108w 10 com- plagiof, As 1a overy other new sud rapidiy- settling couutry, theis aro cases of hardship, and winy closs” struzgles with poverty to wako beadway 3 bat tho nutaber of such indtances s Jimated, and much less m proportion to tho in- meration than warked the soitloment of lowa, and ths great rush (o Kuurss Lo yeats ago. FARMISU 1N CILIEURNIAL The otber day Mr, Barnumu editor of the Pa- eific Bural Press, mado & remark to mo which I think should bo stwdicd by every farmer who contomplates leaving the Last for a now bowe in this region. Said ho: *The turmor who comes hera must bo bort aguing Lo wust nut ouly loar of zarmunz aucy, but mnant learn 1o forpet whiat ho had loarned eluowhera ; he must adayt himself to tho conditions eurrounding him and ull tho goil o Californing do, anid uot as it el to Lo tiied i Dilisois, ludiana, and Wiscou- wn.” A sum of money that wonld enalile ono to ob- taln o emall furw fu Nebrusks or Kao=an would not by sulticieut ta buy the samo in Califoris, Levause land ts hiold e cowparatively bigher Hguies hore—uwuch bitgher thau it thore, avil with the land cue muast buy the water, Agamn, tho expenso of moving & fauwnly of even thice or fout persous to the Paciflo Coaet I8 vomathing that eaunot bo overlooked, for alf atong the soute from Chicaga to San Francinco pooplo are fouan who gain thewr hvehhood by tleecing aud extorting money from emigrans. Culitornia can hardly be rezardud as the poor man's parudise. It may lo Juantly deseribed e s placo to oujoy bl 1o corafotid sud lusuries of lifo, aftor uo Lud gained & fur startiu tho world and sccumulsted a fow thou- sand doliars, Lverything almost tht eaith pro- duces fu tho way of cercals, fruiss. il vegeu bloa can bo grawn Lero, but it ro-|uires & fow vears time, aud tho ouilay of some oy, to imug thoso world-fawed pomi-trupical groves to o dogres of profitablo bosiiug. L Tl prices of gocd fatiuig laud range from $10 to $150 per acre, according to the condition of improveuiout aud pmnmu(y to wator, ‘1 woll, whon woistensd srutictlly and Tilled with projier eare, yiokls so bouutifully that tho farwer gols a8 much from 40 acios liero a4 Lo doos from @ (uATLer Eoction (b auy ouo of the pratrie States. Bwmall farmers are destined to do much more for the development of the State thun the lurdly owners of vast tra ts, who tuii to faiming fur BpuCLIALIVS PLOLS atcad ol Lo cotforts, “Tho numorons colouicing echuwes of Cahifor- nie aro coutribubing in & Juge degree to tho rrosperity of {he mgrienltural intorest, and throngh them much good must en-uu." The possaseion of the water heing vested in tha own- ership of tho land, and renderod inseparablo by A condition of purchars, the farmer who buga in this mnnuer wnguestionably recolves n elear and ndisputed titlo ta pergetual water priviloges, paving thorefor only for what he gets, and pay- it nothing (or the Warto of others, 1118 noighe bors having purclinsed their renpostive farms and waler rights on equal (orms, thero must of contra ho o common tndwrstanding of each oth- cr'a rivilegrs, and hetce no causa for dispnto Among them. The eapital emplayed n buylng 1plargo tracts of Iand and Lrnging therota, m eanala or ditches, amplo vo'uner of water, must find a Liberal roturn 1 the sals of property, for [ OLECEYE many mhry fpecutators leasing tho URCETID 1nes ati ning their attention to colony enhemen, It would to a good plan, no doubt, for furmers of the wealthior clacs to con- solidate their asailable capital, buy their lnnda in largo tracts, build their own canals, aud thua I“u tho waargiu which now enrichos the specu- ator, © CHINESE IMMIARATION, hernis no perceptibla falling oft in the sics s immigration, Every passenger-ateamor 1.1 Orieutal shores brivgn a fresl delagation of the good-patnred, almond-eyed heathon. el 8 month i o fair extimato of the uf yepaladon from Cluueso sourcos. Ay appears to bring some t. In thia Congressioual Dirtiict the ita do not hositato to avow thetr dizsatielacion ovor the nomimation of Mr. C Piper. wid it 4 ovident that ho caunob commznd g etrengih of i PAriy. ‘Thern is trouble, ton tn the camp of the Indo- pendents over tho keectnn of Mr, 8wift for a Congrea:ional eandid. which secems to leave the way opon for o The Beps e in the State it und Mr. Uorham ud telling woechos, Hona- urtan and Logan e in tne city, and twa or three sy ¢achies from the latler are promised by the Htats Central Committeo, Mr. Pholps ia alwo dumz_effeetivo wo:k on tho stamp, and from all paris of the Stata chieening intelligence comea of Republean uuity aud couliden LO¥ Their Pocms at the Cambridge Cens ninl, Mr. Lowell's Cambridge Centconlal Ods, in the Angust Ath i centitled **Under tho (Chreat Ldm." It begans with tng stanza: Woris pars as wind, but where great deeda wero done A power alAden, erausfured frow rire to sup = Tua oy fecls derpze masntngs tholl Lix ear, t thiiglingg through bia pai-e liZe-) ng shall ran, Witk sure fmpulsion to keep lutor clear, Whea, ) oluting down, bis futlicr whi “ Hore, Thore, where 3o stand, stood e, the piirely Great, ose il no eiren Uaseseen conld unsy here, it batseloas, n0W & power and mized with fate,” iietonic town, thon holdest sacred dust, { {ive kmotwis to men a phous, learued, fist, Awk oua wemorisl Pile that dares 10 lasi; th reverential Kiss rrez: un this giory oa ft jas as pouxly displayéd 278 1s imonumental ehado, Then follow reile-tions upon tho nature and tre of monnmments. nnd the service of the wemo- ries of great heroes, ull clunely associsted with tho thoushit of Wa-lunator noxt a picture of tho Virginian a8 bo ridos aiong tho stroct to take commatd, conspi < .t who rido with Lz, to the enrious throng of oldiers and eiti= zend, The ntmy Lie camo to commaad 18 describe cd in theso lines: A motley rout was that which cyma to rtara, 11y yeasof s aud at.rm, An Dot uniform, Dotted withs retmentals horo and thire; v all of Captaiue, used 1o pray glit, but eerfons Jrills desratr, ate thelr orders, Dot obey: there, Seleetmen, men of ante ¢\ bamlets ambustiod round with woods, Leady to wettly Freewill by a vots, But fargely literal t8 Jia private nioodn ; Tompt (0 ausert by manuorm, voice, OF pen, Or ruder cri, thetr rights as I linen, Nor much fartidious as 1o how or when : Y aeasonedd atnfl and fittent to creata A thought-staid army or a Liting state Haughty thes sald ue was, at firet, severs, Bt owned, as all men own, the rteaily band 'pun tho Uridle, patient to command, Filzed, s all price, the Justice purs from fear, Aud Jearned to houor tifst, then Jove him, then revers, Suvh power there §a in clear-oyed pelf-resiralut Aud purposo clear s light from every solfiab taint Later fu tho progrees of tho puem occuts the following culogy of tho character of Wathing- ton: What figure mors immovably sugiat ‘Than that grave sireogtl o patient and go purs, Calm In good fortuno, when it wavored, sure, “Tluut soul sereue, Imyicnotrably Jurt Modeled on elasnic lincs so simpio ttiey endure? That soul ko softly radiaut and so whita Tho travk it loft secmus less of fire thau light, Cold but 1o such as lovo distemperature And it pure light, aa some deem, be the forcs “[at irives rejoictug planets ou ihelr courss, Why for lils power benign scck an Lmpurer source? 1556 was thin true enthuafaam that burns loug, Dumestically Lright, Fed from {taclf and'shy of human sight, ‘“The bidden force (hat nalgn a lifetinie strong, And not the ebort-lived fuel of » song. Prasionless, say you? What le pasaion for But (o subitme our natures aud control o frond Licrole totla with lute return, 0Or noye, ur buch a8 ehamus the conqiieror? Thiat tirh was fed with substanco of the soul And not with holidsy stubble, that could Lurn ‘Turough seven alow years of ‘unadvancing war, Equal when floldw wera lost or Hulds were won, With breath of poptlar applauss or blanie, Nor fauncd nor damped, unienchably tho same, Tog fuward to be reached by fawa of 1die fame, Soldler nnd staterman, rarest unison ¢ Uighroised example uof greal dutles done siuiply 83 breathing, a world's Lunors worn As lifa's indifferent fafts toall men born 3 Dumb for himself, unlesn it were to Goa, 1t for Lis barefout soldivre cluquont, Tramping thy snow to voral whete thoy trod, ileld by bis aws in bollow-ayed content; Modest, yet firus 5e Natur's eelf ; unblamel Bave by tho men his noller temper ehamed § Not honored thens uF now beeatso lie wooed Thie popular volce, Lut that he atill witheto~ Hroad-miinded, Lt souled, thero fs but oue Who was sl this aud curs,aud all men's,—Washington, ‘1ho final stanza of the ode confesuos the na- tion's dobt to Virginia for Washington, and mio- glea with tho achnowledzment patriotio aspira- tions for reconciliation aud union: Virginia gave us thin fmperisl man Caat 10 the mighty mold O thows bigh-staturcd uges old Which into grander formn onr mortal metal ran } She gave us thin unbiey gen What shali we give her Lack but Lo As i the dear vld unextranged days Thefuro the inevitable wrong tegati 7 Mother of Ststes and nuduniniiied men, Thou gavout i & cauintry, giving bim, And We owe alway what Wo owed thea thent el from us agen Subues as before will 1o abatemaont i, A great waw's memmary {8 the uly tiing With (nfhienco to outisst the prexeut witm And bind us ax when beto be kult onr golden ring ALLOF Iiim that was sabect (0 tho lonrs Lies I thy suil sind 1muked 3t pars of ours: Aross tuore reccnt graves, Whiers wnreacutful Naturs waves Hr peunons o'er tho shiot-pluwod eol, roclaiuibg the o of G W from this couveerated plabh st Qur handy w freo from ulieribovg At here the united Northy Poured Ler embrowned wanbo d fortly It Welcomu oF OuF Bavior sk ih: “Througls tuttlo We huvo belter b Thw dyep-#et courage and e 1 Which, ko 318 own, the day's dissater done, Conld, wafe i mandio u, wiiler sud Vo still, :...m thi s etory b lr‘-fly wou; £ ever with diatctirp, re Vule OF We Bave fursdeeru 4 e, IUTY We ke 1 backyme Atk for the dead of Lati don cammon blagk, 15 o Uy evengore o B waab then, AN W fur a2 bast not always Ueon, At of fiatorait L nupoliuted inen, Virgiia, titly uaste | iroin Eigland's manly Queent Dr. Ilotmes* poews (80 in tho August Alluntic) was road at the dintior in Momorial Hall, 1t is antitled 0 Cambridgo,* The followlag ox- Lracts will sBhOSY 1ts Bprib s “And cau 1t o you'vs fouud & place Withia 1hle convocrated upice, Whick makes vo fino & show, oz ono of 1p Vau Winkie's race, Aml ia 1t geally su? Wio want at old, roculpted bilt 1 o fishes i the Frog-puud still 1 Wha dige last year's patats-bill 7 "That's whial Lo'd Liky to kuow! And weora it an Bave {lis dear Bome thst gave bim birth Hotug vores of years 3g0, He bad not come to spoll yune mirih Aud cultl your fustive glo But round bis baby-neeb b stay With tearful eyo thy aceun sUrveys, iy eart uncliauged by chsnging daysg "Ehiat’s what Le'd bave yuu kuow, When Cambridge was s simple town, Hay Jusl whcre Deacou William Brown {louk o 1 g der sow) For Luucst silver coduted down 11is grocenes would bostow T For thuea wize diyy when money meany Buwotbiug that JIZIod 88 you wunt,— No biylirad hika the uickel cont, 1% bave you all 0 kuow ; Dut quarter, ninepenc ud fourrstce Lapenslos tu Letwoe., All metsl tit to show, Toutad of rags in staguant grosn, “Tie scums of dabil wa o How s4d to think such stul cli's cuge-ail Fettody,— Lut Weudell 1.y~ i gaust Auow | ot or doutd spot on eari