Thomas County cat., 1890-12-04
The Tariff Act.

again at once be SlD1ected TO important
general changes would undoubtedly add
| a depressing influence on business, OF
the most serious character.
The general tariff act has only par
| TALLY gone into operation. Some OF its
important provisions being limited to
take effect at later dates. The general
provisions of the law have been in force
less than sixty days. Its permanent
effect on trade. and prices still largely
stands in conjecture.
| 1t is curious to note that the advance
in prices of articles wholly unaffected by
| the act was by many hastily ascribed 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 late tariff legisia-
lion.
The enlargement of our currency by
the silver bill undoubtedly gave an up
ward tendency to trade and had mark
ed effect on prices, but this natural effec.
of the silver legislation was by many at
tributed 20 the tariff act.
SHOULD HAVE FAIR TRIAL.
| There is no wisdom in the suggestion
that the subject of tariff revision shall
be opened before this law has had fair
trial It is quite true that every tariff
schedule is subject to objections. No
bill was ever framed. l suppose, that in
all of its rates and classitications, had the
full approval even of party caucus.
Such legislation is always and neces-
sarily the product Of compromise as to
| details and the present law is no eIcep-
ton, but in its general scope 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 work
men.
The misinformation as to the terms of
the act which has been SO widely dissem-
minated at home and abroad, will be cor
rected by experience and the evil augurs as
TO its results confounded by the market
reports, the savings banks, International
trade balances, and the general prosperity
of our people Already we begin to hear
| from abroad and from our custom houses
that the prohibitory effect upon impor;a-
tons imputed to the act is not justi-
fed.
| -. GREATER IMPORTS.
The imports at the port of New York
for the first three weeks of November
were nearly 8 per cent greater than for
the same period in 1889 and two per cent
greater than in the same period of 1893.
t. effect is SO far from being to limit eX-
ports that l confidently believe that un-
der it, We shall secure 4 larger and more
profitable participation in foreign trade
than We have ever enjoyed, and that we
shall receive proportionate pariicipa-
tion in the ocean carrying trade of the
world.
FOREIGN CRITICISM.
The criticisms of the bill that have
come to us from foreign sources may
well be rejected.
If these critics really believe that the
adoption by us of free trade policy or
of tariff rates having reference solely to
revenue would diminish the participation
of their own countries in the commerce
of the world, then advocacy and promo
ton by speech and other forms of organ
lied efforts of this movement among our
people is a rare exhibition of unselfish-
ness in trade; and on the other hand if
they believe the adoption Of a protective
policy by this country ,nures to their
profit, it is noticeably strange that they
should lead the outcry against the au-
thors of policy so helpful To them and
crown with their favor those who would
snatch from them substantial share of a
trade with other lands already inadequte
to their necessities.
There is no disposition among any OF
our people to prohibitory or retaliatory
legislation. Our policies are adopted, not
to hurt others, but to secure for
ourselves those advantages that fairly
grow out of our favored position as q
nation.
Our form of government, with its Incl
dent of universal suffrage, makes it i'm.
perative that We shall save our working
people from the agitations and distresses
which scant work and wages that have nc
margin for comfort, always beget; bu,
after all this is done, it will be found tha,
our markets are open to friendly CONNER.
cial exchanges of enormous value to the
other great powers.
BETTER MARKETS.
From the time of my introduction into
office the duty of using every power and
influence given by law to the executive
department for the development of larger
markets for our products, especially on
farm products, has been kept constantly
in mind, and no effort has been or will be
spared to promote that end. We are un-
der no disadvantage in a foreign marke,
except that we pay our workmen and
worE-women better wages than are paid
elsewhere, better abstractly; better rela-
lively to the cost of the necessaTies oi
life.
4 1 do not doubt that very largely In
creased foreign trade is accessible to VI