New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-29
ovzy CONDEMNATION HERE.
r,,,, ,c.xs AND DEMOCRATS ALIKE
'' " cRrriCIsE THE BILL
MERCHANTS, BANKERS, MANUFACTURERS AND
r,.s,srss MEN GENERALLY STRONGLY


,-rss MEN GENERALLY STRONGLY
OPPOSE THE MEASURE.
TOO much to say that the popular
IL was ..od upon the Wilson Tariff bill ar
49, nv the Democratic majority on the
r're' ord Means Committee OF the House OF
/" "'' has been one OF almost un-
Nep,sS "a Conformation. 1t has met disapproval
4'a' III, from Republicans, but from all classes
~, o except those committed to radical
y, ..r.venue reform or the Free Trade
,,."-,u.. ,rho are prepared to 80 to any length
~ ,hn advancement Of purely intellectual con-
tont,ors The Tribune makes THIS statement
,,,,h aa,,herat ion and challenges dispute from
,a,r-unded men who will make Candid inquiry
with the sole object OF obtaining the truth.
Interviews have been held WIN men prominent
in MANY branches Of trade, INDUSTRY ana hnance,
and the response has been oVerwnemingiy
AGAINST the scheme to be advanced py the
National Administration at the coming session
~ C,orgre.s It is doubtful II there was ever a
mo So nronosed to be placed the statute
books which found so few defenders among the
mac. q, tho men whose interests are one with
tho cormon nroeperity Of the American people,
Not or.t srtb Of the adverse comments upon
tho wilson hill may be quoted with the public
The reason is obvious. Party loyalty for the
time s,Iences the mouths Of hundreds who will
make their influence felt when the proposed
law reaches the stage of Congress discussion
There are plenty of men who, for reasons con-
nected with the successful prosecution Of their
business. object to coupling their name with
candid criticism Of a project which may be
made a test OF party feaity. Other men. whose
pockets are vitality touched by the proposed
changes in the tariff, wish to remain out OF
print until they see future opportunity to
fight for a modification of the more radical
features Of the suggested law. For these and
other reasons the full measure OF public crit-
cism cannot be given openly. But In private
conversation bitter denunciations Of the meas
ure are heard, and Democrats vie with Re-
pubcans in scoring this step intended to revo-
lutinize the Industrial basis Of the country.
HOW BANKERS VIEW IT.
The banking element. which is concerned only
as part Of the machinery OF exchange, regrets the
introduction Of the Wilson bill as a bar to the
revivng tendency lately shown in the mercantile
and commercial world. Business is only just re-
viving from the blow given by the monetary
crisis OF last summer and the absence OF COM
plete confidence has been reflected in the enor-
York banks. The process OF recovery from such
prostration as visited the country in the spring
and summer must of necessity be slow. but
every effort was being made to hasten the work
of convalescence. The revision Of the tariff on
such radical lines as are drawn in the Demo-
cratic bill introduces an element Of uncertainty
in business plans and arrangements which, 1t
is feared. will operate strongly against the res
of p1 q q
in no condition. 1t is urged. to undertake radi-
cal economic experiments. and even many of
those persons who favor tarin reductions lament
that the attempt is made at this particular
time The impolicy Of the agitation alone IL
an argument sufficient to condemn the Wilson
scheme with numerous conservative business
men and bankers. That its effect has not
been more serious In the way OF disturpihs
values seems to rest upon the notion. more OF
less popular. that the project Of Mr.. Wilson ana
his colleagues is too sweeping ever to pass sue
cessfuy the gantlet OF debate and opposition
in Congress
But business men recognize that this Is sem
tment too unsubstantai TO avert more thah
temporarily the harmful effects Of discussion
and agitation Of pernicious measure, stamped
as Il Is with the approval OF the dominating
party In Congress and understood to have the
backing OF the CnleI Executive. ihr 'cAy III
shown In proposing such vicious
attack upon the industries OF the Nation. In
view OF the warnings sounded In the political
revolutions accomplished at the November cleo
TONS proves, II Is feared. that the Democratic
IL blind to the sentiment OF the
people. But even IL hope be entertained that
the Wilson bill must be emasculated before 1t
becomes a law. business men realize that they
can afford to take no risks and at the best UNI
must be felt for months as to how
far the proposed raids upon the tariff can be
defeated. Every buyer Of raw materials, 1t Is
pointed out. will wait so long as he can to learn
the basis upon which future purchases must be
made. Every manufacturer will hesitate until
he knows how deep the knife must so into
the wages Of his employees in order to meet the
increased competition opened to the foreign
WAGES WILL SUFFER FIRST.
On all hands 1t is agreed that the first re-
adjustment Of industry to the new conditions
sought TO be imposed by the Wilson bill must
come in the direction Of the wages OF the labor
Ing population. The panic has already thrown
hundreds of thousands OF men out OF employ
ment and scaled the wages OF other hundreds
Of thousands. This enormous curtailment Of
the purchasing powers OF the millions has
already reacted upon trade, and a handicap
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