, 1890-12-04

Iho IHrIns
The apprehension tnat our tariff may
again and at once DO subj eCied to inn
portant general changes would undoubt-
edly add II depressing influence OF the
most serious character. The general
tariff act has only partially gone into
effect, some of its important provisions
To take effect at dates yet IN the future.
The general provisions OF the law have
been in force less than sixty days Its
permanent effect upon trade uni prices
still largely stand IN conjecture. 1t is
curious to note the advance in the prices
of articles wholly unaffected by the
tariff act, which by many have been
hastily uscribed to that act. Notice was
not taken of the fact that the general
tendency of the markets was upward
from influences wholly apart from the
recent tariff legislation. The enlarge
ment of our currency BY tho
silver bill gave an upward tendency to
and had u marked effect ON prices, but
this natural and desired effect OF silver
legislation was by many erroncousiy ut g.
trlbuted to the tariff act.
There is neither wisdom nor Justice in
the suggestion that the subject OF tariff
reyisiDn shall be opened before this law
has had fair trial. 1t is quite MS true
that every tariff schedule is subject To
ODltAllDnss w bill WAS GNtT lIAllleu, 1
suppose, that in all OF its rates and
clsssitications had the full approval OF =
party caucus. such regulations are al
WAYS and OF necessity the product of
compromise as to the details, and the
present law is no exception; but in its
general scope and effect 1t will justify
the support of those who believe that
American legislation should conserve
and defend American trade and the
W. nt AIpprlCun wDrEmpn. The
mlsinformatiun as to the terms OF the act
which has been so widely disseminated
at home and abroad Will be corrected by
experience and the evil auguries as TO its
results confounded by the market re-
ports, the savings banks, international
trade balances and the general prosperity
of our people. Already we begin to hear
from abroad ana from our Eastern
houses that the prohibitory effect upon
importations imputed TO the act is not
justified.
The imports of the port of New York
for the first three weeks of November
were nearly 8 per cont, greater than for
the same period in 1889, and 20 per cent.
greater than in the same period of 1855
and so far from being an act TO limit ex-
port, | confidently believe that under il
we shall secure larger and more profit
able participation in foreign trade than
wc have ever enjoyed, and that we shall
recover a propor,ionate OF participation
in the ocean carrying trade OF the
world. Criticisms OF the bill which have
come TO us from foreign sources may
well be rejected, for 1t these critics really
believe that the adoption by us of tree
trade policy, or of tariff rates having
reference solely to revenue, would di-
minish the participation OF their own
countries in the commerce of the world
/ their advocacy and the promotion by
speech and other forms of organized
effort of this movement among our
| people is q rare exhibition OF unselfsh-
ness in trade, and, on the other hand, If
| they sincerely believe that the adoption
of a protective tariff policy by this coun.
try is to their profit and our discomfort
1t is noticeably strange that they
should lead the ou.cry against the
authors ofa policy so hopeful 10 their
countrymeu, and crown with their favor
| those who would snatch from them n
substantial share OF trade with other
lands already inadequate to their neces- .
sites. There is no disposition among
any of our people to promote prohibitory
or retaliatory legislation. Our policies
are adopted, not to the hurt OF others.
but to secure for ourselves those advan.
tages that fairly grow out of our favored
position as nation. Our form
OF government, with its incident OF
universal suffrage, makes ii
imperative that we shall save ou,
working people from the agitations and
\ distresses which scant work aud wages
that leave no margin for comfort alway:
heget; but after all this is done it will b,
| found that our markets are open &