Wiarus. (Winona, Minn.) 1886-1893, 1890-12-11
III NEW TARIFF.
Its Permanent Effects Upon Trade and
Prices Still Largely Coniecture.

Its Permanent Effects Upon Trade and
Prices Still Largely Conjecture.
The general tariff act he's only partially gone
Mto operation, some Of its important provisions
being limited to take effect at dates yet in the
future, The general provisions OF the law have
been III force less than sixty days. Its perma-
nent effects upon trade and prices still largely
stand III conjecture. 1t is curious to note that
tne advance III the prices OF articles wholly un-
affected by the tariff act We're by many ascribed
to that. Notice was not taken of the fact that
the general tendency of the markets was upward
from influences wholly apart from the recent
tarlH legislation. The enlargement OF our cur.
rency by the silver bill undoubtedly gave an up
ward tendency to trade and had a marked ef-
iect on prices; but this natural and decided eff.
feet OF the silver lie gislation was by many err
roneouSly attributed to the tariff act.
There is neither wisdom nor Justice in the sug-
gestion that the subject OF tariff revision shall
pc opened before this law has had n fair trial.
1t is quite true that our tariff schedules are sub
lect to objections. No bill was ever framed, |
suppose, tnat in all its rates and classitications
mad the nun approval even OF u party caucus.
sucn legislation is always and necessarily the
product ofcompromise as TO detains. and the pres
ent law is no exception: But i'll its generalscope
and effect l think it will justify the support OF
those who believe that American legislation
should conserve and defend American trade and
the wages of American workmen.
The transformation 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 reports. the savings banks, interna-
t1onal trade balances and the general prosperity
OF our people. Already we begin to hear from
prohibitory effect upon importa,ious imputed
to the act is not justified; The i'm
Isq the at first the e,rsl port t.st Of New York
were nearly . per cent greater than for the same
period in 1883, and 20 per cent greater than in
the same period OF 1888. And 50 far from be-
ing an act to limit exports, l confidently believe
that under it we shall secure a larger and more
profitable participation in foreign trade than we
Fave ever enjoyed. and that We shall recover a
proportiOnate participation in the ocean carry
ing trade of the world.
The criticisms OF the bill that have come to US
rom foreign sources may well be rejected for re-
pugnancy. III these critics really believe that the
adoption, by us OF a free trade policy, or OF tariff
rates having reference solely to revenue, would
diminish the participation of their own coun-
tries i'll the OF the world, their advo-
eacy and promotion by speech and other forms
OF organized effort of this movement among our
people is a rare exhibition of unseltishness in the
trade. AnC on the other hand, if they sincerely
believe that the adoption of IL protective tariff
policy by this country inures to their profit and
tourhurt it is notlceabiy strange that they should
lead the outcry against the authors of u policy
SO helpful to their countrymer, ana crown with
their favor those who would snatch from them
a substantial share of trade with other lands
already inadequate to their necessities.
There Is no disposition among any Of our peo-
pie to promote prohibitorv or retaliatory legis-
lation. Our policies are adopted not to the
hurt OF others, but to secure for ourselves those
advantages that fairly grow ont of our favored
position as u nation. Our form of government.
with its incident OF universal suffrage, makes it
imperative that we shall save our working peo-
pie from the agitations and distresses which
scant work and wages that have TO margin for
comfort always beget. But after all this is done
1t will be found that our markets are open to
friendly commercial EXCHANGES OF enormous
value to the other great powers.
From the time of my induction into Office the
UlTV or lSInD pVprV nNyp n n M on al VAN,
by law to the executive department for the de-
Velopment OF larger markets for our products,
especially our farm products, has been kept con
stantly IN mind. and no effort has been or will
De spared to promote that end. We are under
no disadvantage in any foreign market. except
that we pay our workmen and workwomen bet
ter wages than are paid elsewhere-better alb
~stractly. better relatively to the cost OF the
iiecessaries of life. l do not doubt that a very
!a.gely Increased foreign trade Is accessible to us
without %harterine for either our home market
Tor such products OF the farm as our own people
can supply, or the wages OF hard working peo-
pie.
The reciprocity clause of the tariff act wisely
and effectively opens the way to secure q large
reciprocal trade in exchange for the free ad-
mission to our ports OF certain products. The
night OF independent nations to make special
reciprocal trade concessions is well established,
and does not impair either the comfy due to
other powers, or what is known as the Favored
nation clause" SO generally foundi in commercial
treaties. What is given to one for an adequate
agreed consideration cannot be claimed by
g. 0ShtoOiiVi iLCCiS. Hc SJtl " IN revenues WAS
slcn that We could dispense with any import
duties upon coffee, tea. hides, and the lower
grades OF sugar and moiasses. That the large
advantage resulting to the countries producing
and exporting these articles by placing them on
the free list entitled us to expect a fair return in
the way OF customs concessions upon articles
exported by us to them was SO obvious that to
nave gratuitous.y abandoned this opportunity
to eiilarre our trade would have been an un-
s. pardonable error.
There are but two methods OF maintaining
control OF this question open to congress: TO
place all of these articles upOn the dutiable list
subject to such treaty agreements as could be
secured, or to place them all presently upon the
tree list but subject to the re-Imposition of speci-
fed duties If the countries from which we re-
ceiyed them should refuse to lis suitable recipro-
cal benefits. This latter method, | think, pos
Eesses great advantages. 1t presses in advance
the consent OF congress to reciprocity arrange
ments affecting these products, which must
otherwise have been delayed and unascertained
until each treaty was ratified by the senate and
the necessary legislation enacted by congress.
Experience has shown that some treaties look
ing TO reciprocal trade have failed to secure a
tWo-thirds vote in the senate for ratification,
and Others having passed that stage have for
years awaited the concurrence OF the house and
senate III such notifications of our revenue laws
as were necessary to give effect to their provis-
joins. We now have the concurrence of both
houses In advance In II distinct and definite offer
OF free entry to our ports OF specific articles.
Ihe executive il not required to deal in conjec-
ture MS to what congress will accept. Indeed,
this reciprocity provision is more than an offer.
The indications thus far given are very favor.
able to action blythe countries from which we re-
ceive our large imports Of coffee and sugar. and
It Is confidently believed that if steam communi-
cation with countries Is improved and enlarged.
the next year will show u most gratifying in
crease i'll our exports of breadstuffs and pro-
visions, as well as of some important lines OF
manufactured goods.