A Short Tariff History of the United States From the Earliest to the Present Tim
A Short Tariff History of the United States From the Earliest to the Present Tim
David H David Hastings Mason
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3. That the country was inundated with the influx of European and Asiatic merchandise. 4. That manufacturing estab- lishments in the Confederation were crippled, prostrated, or utterly ruined by the overmastering competition from abroad. 5. That an exhaustive drain of specie for export speedily followed, until the American people, from New Hampshire to Georgia, were left almost completely with- out a circulating medium. 6. That property, real and personal, depreciated to a frightful degree. 7. ...That, in absence of ability to engage in legitimate enterprises, a craze for speculation seized upon the community, mainly taking the form of traffic in public and private securities. 8. That bankruptcy became general, the courts were crowded with suits, the prisons overflowed with debtors, the lawyers fast acquired wealth by the multiplicity of fees, and the farms, houses, and personal property of the unfortunates were sacri- ficed to clear off trifling obligations. 9. That even necessary taxes often could not be collected without levy and sale.
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