reached its acme (omitting, of course, the present McKinley Bill with
its 60 per cent. average duty). In 1832, consequently, a great reaction
in sentiment took place, and the "Compromise Tariff" was passed and
duties were lowered. From this period, the advocacy of a high tariff in
order to protect "Infant Industries," no longer "Infant" was largely
abandoned, and its advocacy was generally based upon the fallacy, less
obvious then than now, of securing high wages to laborers by means of
high import duties. This plea for high duties the laborer found to be
fallacious.

They (agriculturists mainly) found that they had to pay more for
manufactured goods, so that the manufacturers could still buy their raw
materials at the advanced prices, pay themselves the accustomed or
increased profits, and then possibly pay the laborer a small advance in
wages.

The advance did not compensate for increased cost of necessaries of
life. If competition reduced the manufacturers' profit, the first
reduction of expenses was always in the laborer's pay. The recognition
of these truths brought about the further reduction of duties until
1842, in which year the tariff was once more raised. It was not until
1846 that we enjoyed a tariff which sought to eliminate the protective
features. It is significant that a period of greater profit and
stability among our business men, but especially among our farmers, was
then inaugurated. This was the first tariff, since that of 1816, not
affected by politics. It lasted-until 1857, and the country flourished
marvellously under it.

From 1816, when protection was first resorted to, until today, tariff
rates have been almost continually raised, mainly by votes of the