Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1892-06-29
What Tariff Reform Means.

The appended letter from Capt. N. j.
Floyd, of Lynchburg, which appeared
in the New York World of the 18th IN
slant, is, says the Lynchburg Var9a''eam'
as thorough and logical an exposition
of the theory of tariff reform as can be
presented in the same space:
To the Editor of the World:
In addressing the Minneapolis Con
vention on Wednesday Gov. Mckinney
asked: "Does anybody know wna1
tariff reform means?" and there were
ioud cries of mo. No! Mo-" This
nroves the truth of the old saw: There
are none SO blind as those who Will not
see."
When John Randolph Tucker, OF
/ Virginia. was a member OF Congress,
and when the cry of the extreme protec-
| tionists was "A tariff for protection,
with incidental revenue" he explained
/ Democratic the meaning OF tariff reform
as the reverse of that, or "a tariff tor
revenue, with incidental protectlon,
and enunciated the truism that any tar
| iff. hewever light, together with Irelgnt
| charges, &C., was to its ana thelf duii
| extent, a protection OF home lhanutae,
lures. He also laid down these proad
truisms, which will have to De stuuieu
and understood, too, by Mr.. Mckinney
| and his like in order to avoid bank
ruptcy for the Government ii we are to
continue to pay the present enormous
| pension bounties and other extrava-
gancies:
| First-The Government must derive
it's chief revenue from tax on imports,
| If the tax or tariff were put too low the
amount of revenue derived would neces-
sariIy be small, the protection to home
manufactures would be slight, but the
consumer would enjoy the benett OF
| low prices. The effect of this would be
to stint the Government for the bene tit
of the consumer.
Second-If the tariff were put too
high the amount of revenue would still
be small, because importation would be
seriously checked, home manufacturers
would revel in a monopoly of the home
market and consumers would be ground
down by high prices, with the add
tional discomfort of knowing that the
money squeezed out OF them uld not GO
to lubricate the wheels of government
but to enrich a favored class. The ef
fleet of this is to rob the Government
and the consumer for the benefit OF the
manufacturer.
Third-True political economy, there
fore, dictates that middle course
should be pursued, the only subject te
be considered primarily being the re
uuirements of the Government ECO
nomically administered" and the prob
) able figure at which each individual
article to be taxed could be made tt
' yield the maximum amount OF revenue
The effect of this would be to supper
the Government without unnecessaril!
hampering any class or industry.
have not given Mr.. Taylor's Ian
guage, but only the substance OF hi
speeches on tie subject. 1t matter
not if Mr.. Mckinley and his party ar.
S wilfully blind and will not see the diff
ference between a tariff for revenue
and one for protection only. TIL
startling figures of the pension bountle
and other wild extravagances will caus'
the honest toiling masses to open thel
own eyes sooner or later, and wheI
they see an empty Treasury and prac
tically bankrupt Government staring
them in the face they will do some
thing. 1t may be that in their ange
and haste to amend the errors ant
wrongs of the past they will not paus
to consider what interests the some
, thing" may hurt or help.
N. j. FLOYD.
Lynchbnrg, Va, June 10.