The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1884-02-21
senat " Sherman on the Tariff.

New YORK, Feb. 1.-THE Mail and
Express will print this afternoon an in
terview with Senator Sherman on the
proposed tariff legislation from which
the following synopsis is made: In
reply to questions TO the coming ac-
ton of congress, he said he did net he
lieve the result could | e more than
guessed at; the tariff discussion is not
unexpected, which always happens,
but can tell you just what congress
ought to do, and that is to let the sub
ject severely alone during the present
congress; there is no question that the
business interests of the country gen.
orally were somewhat injured by tn
passage of the last tariff bril, but more
so by the sensitive and uncertain state
of the money market. While the reve-
nue. law of last winter gave great re-
lief in reducing taxes, yet it was very
Injurious to the iron and We len in
dustries. Ohio and Pennsylvania nave
suffered severely through the operation
of last years bill. While it was true
the wool growers had suffer. { SeveTelc,
yet the full effect of the recent law is
not yet known. 1t would be very tn
wise to raise any fresh disturbance Of
the tariff to prevent the country Il d.
ing out the whole effect of the last |
Nv, besides congress is in no condi-
ton to pass a harmonious and we'll |
considered tariff law. Not only are |
the two HOUSES not in harmony with |
each other, but there are differences |
OF opinions among members Of the |
same parry in the same house He
said proper tariff law could only be
made when one party has power, and
the responsibility would not be
divided between the Democratic house
and the Republican senate aud eXecu-
tive. Even if another tariff should
become law, the people would not
know whom to hold account bic. 1t
was probable that hereafter party
lines would be drawn on financial
questions, and he thought it would be
happy day for this country when
this is the case, SO that popular opin-
ion might fairly decide for or against
protection duties.
That the Republican party has been
from the beginning, and is in favor of
such protection duties, with view to
diversity our industries. is shown by
the laws it has enacted for twenty
four years past. 1t is almost certain
that were the Democratic party in
power it would take ground against
all systems of protection and frame
laws simply with view to revenue.
l believe when this issue is made a
portion of the South will favor pre-
lection duties, and portions of the
East will be for free trade. He said
he had observed a growing feeling in
certain states in favor of free raw ma
terials, but did not believe this
would stand the ordeal OF
a popular election. Protective
duties must extend to all forms of
labor, and need not extend to capital,
which is at this period almost as
cheap aud abundant as in Europe. He |
had always thought the development
Of raw material one of the chief OBJ
jects of protective laws as that when
raw materials are judiciously devel-
Oped manufacturers will inevitably
follow, However, he did not think
ably expected in lapse of time to be
Consumers should get full benefit of !
protection by cheapening home pro-
auctions, which will follow from
home competition. The production of
the farm will have the advantage of /,
q home market caused by diversity of
He expressed the opin-
ion that free trade, as advocated by
some college professors and polite al .
theorists, would be utterly destructive
to the business interests of the coun-
try, and produce the same stagnation
in trade and financial ruin that fol- .
lowed the tendency to free trade in
1887 and 1857. what we want" said
Senator Sherman in conclusion, "is a
system of protection duties, moderate
in degree, but stable and certain;
thiss last is a great point and one
which should obtain consideration.
Then we want marked change in {
our commercial laws to encourage 5
American ship building and COM
merce on the high seas"