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the facility of payment. And, where cheapness is only to be attained by a depression of the wages of labor to the neighborhood of the European standard, I prefer that it should be dispensed with. A series of 24 essays by Greeley, designed to elucidate the science of political economy, while serving to explain and defend the policy of protection to home industry as a system of national cooperation for the elevation of labor, which had appeared in the Tribune, were published in book form in 1870. In these essays he not only elaborated his view that protective duties do not necessarily increase prices to consumers, and met many arguments advanced by revenue reformers, but he discussed paper money, usury, the balance of trade, slave and hired labor, cooperation, and kindred subjects. Henry Clay received the Whig nomination for President in 1844 without opposition, and Greeley threw himself into the campaign with all the devotion of one who loved the candidate for his generous nat
May, 1841 AD (search for this): chapter 7
he manufacturers. This opinion was certainly in line with Greeley's recommendation. From that time to the date of his nomination for President, Greeley, with the Tribune at his back, was the foremost advocate of a protective tariff in this country, addressing a larger constituency than any of the tariff advocates in Congress. He was early recognized as an authority on the subject, Weed placing only Hezekiah Niles above him. He was the author of an article in the Merchants' Magazine of May, 1841, which replied to a free-trader's argument, and he and McElrath began, in 1842, the publication of a magazine called The American Laborer, whose purpose was the inculcation of the protective doctrine. In November, 1843, he and Joseph Blunt defended the affirmative side in a debate in the Tabernacle in New York city on the question, Resolved, That a protective tariff is conducive to our national prosperity, Samuel J. Tilden and Parke Godwin taking the negative. As he printed his argument
ment, and he and McElrath began, in 1842, the publication of a magazine called The American Laborer, whose purpose was the inculcation of the protective doctrine. In November, 1843, he and Joseph Blunt defended the affirmative side in a debate in the Tabernacle in New York city on the question, Resolved, That a protective tariff is conducive to our national prosperity, Samuel J. Tilden and Parke Godwin taking the negative. As he printed his argument on this occasion in his autobiography in 1868, it may be accepted as defining the groundwork of his belief. He laid down and explained five positions: 1. A nation which would be prosperous must prosecute various branches of industry, and supply its vital wants mainly by the labor of its own hands. History proved that an agricultural and grain-exporting nation had always been a poor nation. 2. There is a natural tendency in a comparatively new country to become and continue an exporter of grain and other rude staples, and an imp
July 1st, 1842 AD (search for this): chapter 7
te bounty of fifty cents a pound on silk produced in the State warmly combated. The compromise act provided for a reduction of all duties which exceeded 20 per cent under the act of 1832, on the following scale: 10 per cent of the excess to be removed on January 1, 1834; 10 per cent more on January 1, 1836; another 10 per cent on January 1, 1838, and a fourth on January 1, 1840; on January 1, 1842, one-half of the remaining excess was to be abolished, and the remainder of the excess on July 1, 1842, leaving, after that date, a uniform tax of 20 per cent. One of the arguments used by Clay to secure support for his compromise from his fellow protectionists was that it would be superseded before its ultra reductions took effect. But during the second administration of Jackson and the administration of Van Buren-the latter had no very clear views about the tariff --other financial questions occupied the attention of the country, and even during the hard times of 1837-the tariff was onl
January 1st, 1840 AD (search for this): chapter 7
837, the possibilities of silk culture in New York State set forth, and the objections of the Evening Post to a proposed State bounty of fifty cents a pound on silk produced in the State warmly combated. The compromise act provided for a reduction of all duties which exceeded 20 per cent under the act of 1832, on the following scale: 10 per cent of the excess to be removed on January 1, 1834; 10 per cent more on January 1, 1836; another 10 per cent on January 1, 1838, and a fourth on January 1, 1840; on January 1, 1842, one-half of the remaining excess was to be abolished, and the remainder of the excess on July 1, 1842, leaving, after that date, a uniform tax of 20 per cent. One of the arguments used by Clay to secure support for his compromise from his fellow protectionists was that it would be superseded before its ultra reductions took effect. But during the second administration of Jackson and the administration of Van Buren-the latter had no very clear views about the tariff
Chapter 6: the tariff question Greeley's early sympathies legislation between 1832 and 1844 a statement of his tariff principles his work for Clay in 1844 its effect on his health desire to try the issue four years later Greeley's sympathies were always in favor of a protective tariff. He heard the hard times of his boyhood in New England attributed to the cheapness of English products; both the political parties in the presidential campaign of 1828, when he was an apprentice in the East Poultney office, professed devotion to protection, and speeches which he heard at a consultation of protectionists in the American Institute, which he attended while waiting for a job during his first year in New York city, strengthened his already formed convictions. But during the earlier years of his editorial work in New York and Albany the tariff was not a prominent issue. The compromise act passed in 1833 continued in force until 1842, and, although it was not operating as C
e waiting for a job during his first year in New York city, strengthened his already formed convictions. But during the earlier years of his editorial work in New York and Albany the tariff was not a prominent issue. The compromise act passed in 1833 continued in force until 1842, and, although it was not operating as Clay and other of his supporters anticipated (Clay looked for its speedy amendment), it was not made a live issue. We find the existing tariff law named in the New Yorker as on In his message at the opening of the regular session in the following December, President Tyler recommended tariff revision, with a view to the substitution of discriminating for level rates, but without violating the spirit of the compromise of 1833. The Secretary of the Treasury, in his report, suggested that the condition of the finances would no longer permit a strict observance of that act. In the following March-just previous to his farewell to the Senate-Clay introduced resolutions fav
Chapter 6: the tariff question Greeley's early sympathies legislation between 1832 and 1844 a statement of his tariff principles his work for Clay in 1844 its effect on his health desire to try the issue four years later Greeley's sympathies were always in favor of a protective tariff. He heard the hard times onts a pound on silk produced in the State warmly combated. The compromise act provided for a reduction of all duties which exceeded 20 per cent under the act of 1832, on the following scale: 10 per cent of the excess to be removed on January 1, 1834; 10 per cent more on January 1, 1836; another 10 per cent on January 1, 1838, ahen the horizontal rate of 20 per cent would go into effect was causing uneasiness. The duty on rolled bar iron, for instance, which was 95 per cent (specific) in 1832, had dropped to 42.5 on January 1, 1842, and would drop to 20 per cent in the coming July. Moreover, the extra session of Congress which assembled in June, 1841,
November, 1843 AD (search for this): chapter 7
protective tariff in this country, addressing a larger constituency than any of the tariff advocates in Congress. He was early recognized as an authority on the subject, Weed placing only Hezekiah Niles above him. He was the author of an article in the Merchants' Magazine of May, 1841, which replied to a free-trader's argument, and he and McElrath began, in 1842, the publication of a magazine called The American Laborer, whose purpose was the inculcation of the protective doctrine. In November, 1843, he and Joseph Blunt defended the affirmative side in a debate in the Tabernacle in New York city on the question, Resolved, That a protective tariff is conducive to our national prosperity, Samuel J. Tilden and Parke Godwin taking the negative. As he printed his argument on this occasion in his autobiography in 1868, it may be accepted as defining the groundwork of his belief. He laid down and explained five positions: 1. A nation which would be prosperous must prosecute various
to consumers, and met many arguments advanced by revenue reformers, but he discussed paper money, usury, the balance of trade, slave and hired labor, cooperation, and kindred subjects. Henry Clay received the Whig nomination for President in 1844 without opposition, and Greeley threw himself into the campaign with all the devotion of one who loved the candidate for his generous nature, his gallant bearing, his thrilling eloquence, and his lifelong devotion to what I [Greeley] deemed our co few years, the growing importance of the slavery question, as it was shaping itself in connection with Texas annexation; but he did not abandon the tariff as his favorite leading issue for the campaign of 1848. Polk's letter to John K. Kane, in 1844, in which he had declared it the duty of the Government to extend fair and just protection to all the great interests of the whole Union, had, together with the placing of Dallas on the ticket with him, taken a good deal of the protection wind out
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