The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-02-15

To the Western Associated Press
NEW YORK, Feb 1.-THE Mail and Express
will print this afternoon, an interview with SEN
ator Sherman on the proposed tariff legislation,
from which the following synopsis is made:
In reply to question as to the coming action
of Congress- he said he did not believe the re,
suit could be more than guessed at. In tariff
discussion, he continued, sit is the unexpected
which always happens; but I can tell you just
what Congress ought to do and that is, to let
the subject severely alone during the present
Congress. There is no question but the business
interests of the country generally were some
what injured by the passage of the last tariff,
but more so by the sensitive and uncertain state
of the money market. While the revenue law
of last winter gave great relief in reducing taxes,
yet it was very injurious to the iron and wooden
industries. Ohio and Pennsylvania have suf.
fered severely through the operation of last
years bill While it was true the wool-growers
had suffered severely, yet the full effect of the
recent law is not known. 1t would
be very unwise, by any fresh disturbance
of the tariff, to prevent the country finding out
the whole effect of the last law. Besides Con-
gress is in no condition to pass harmonious and
well considered tariff law Not only are the two
houses not in harmony with each other, but
there are differences of opinion among memberS
of the same party in the same house"
He said proper tariff law could only be made
when one party has power and responsibility II
the present Congress the responsibility would
be divided between the Democratic House ard
the Republican Senate and the executive. Even
if another tariff should become law the peole
would not know whom to hold accountable 1t
was probable that hereafter party lines woudbe
drawn ON financial questions and he thought it
would be happy day for this country when this
is the case, so that popular opinion might fairly
decide for or against protective duties. That the
Republican party has been from the beginning,
and is i'll favor of such protective dIs.i---a-ftls
view to diversity our industries, is shown by
the awsit has enacted for twenty four years past
1t is almost certain that were the Democratic
party in power, it would take ground against all
this system of protection, and frame laws sim
ply with view to revenue. II believe, when this
issue is made, portions of the South will favor
protective duties and portions of the East will
be for free trade" He said he had observed a
growing feeling in the United States in favor
of free or raw materials, but he did not believe
this would stand the ordeal of popular cleo
ton Protective duties must extend TO all
forms Of labor, and need not extend to capital,
which is at this period almost as cheap and
abundant as in Europe He had always thought
the development of raw material one of the
chief objects of the protective laws, as,
when raw materials are judiciously developed,
manufacturers will inevitably follow However,
he did not think any industry which cannot be
reasonably expected in lapse of time to be
sef-sustaining should be protected. The consum-
er should get the full benefit Of protection by
certain home productions, which will follow
from home competition. The production of the
farm will have the advantage of the home
market caused by the diversity of employments.
He expressed the opinion that free trade as adj
vocated by some college professors and political
theorists, would be utterly destructive to the
business interests of the country, and produce
the same stagnation in trade and financial ruin
that followed the tendency to free trade in 1887
and 1851
"What we want said Senator Sherman, in
conclusion. sis system of protective duties,
moderate in degree, but stable and certain. This
last is great point and one which should OBJ
tain consideration. Then we want marked
changes in our commercial laws to encourage
American ship building and commerce on the
high seas"