St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-28
WISDOM OF WHITNEY.
EX-SEcRETA7Y or THE NAVY SAYS
THE SHERM,N LAW
MUST SOON BE REPEALED.
1t Has Caused the Existing Lack
of Confidence in Business Cir
cIes and the Widespread Bust
ness Distress = Taxation Re-
form a Permanent Remedy.

BEVERLY FARMS, Mass, July ~
William c. Whitney. ex-secretary OF the
navy, talked freely yesterday upon the
financial situation and its relation to
the approaching session of congress.
''lt is scarcely necessary for me to
say" said Mr.. Whitney, ''that l heartily
indorse Mr.. Cleveland's policy Of urg-
ing the repeal of the Sherman law as
preliminary to tariff reform. l do not
see how there can reasonably be two
sides to that question. However small
may be the actual in trinsic effect of the
silver purchases upon the currency,
there can be no doubt that apprehension
of such effect is the first cause OF the
existing lack of confidence in business
circles. and the consequent widespread
business distress.
'If the country is rot being drowned
in silver flood, it is at any rate being
scared to death by the fear of such
daluge. Either way, the result is disas-
trous. The first thing to be done is TO
shut off whatever food there is. be 1t
big or little, and
stop the Scare.
There can be no doubt that the abso-
lutte and unqualified repeal of the Sher-
man law would do this. l agree with
MIR. Cleveland that simple repeal, with
out amendment or substitute, Is the only
thing to be considered at this time
do not wish to be regarded as consider
ing the repeal of the Sherman law as
permanent cure for our national ills. L
look upon repeal as palliative, not
panacea.
The currency question is not the
most vital one with which we have to
deal. The poison lies deeper. No tenn
Dorary anOdyne OF financial legislation
will eradicate it. The silver scare viii
not be long over before
Some other Scare VIII Begin.
unless we 90 to the bottom of the
trouble and get the business and indus
try of the country off the artificial basis
on which it is being conducted and upon
solid ground again. The cOuntry'S
prosperity will never be permanently
established while an annual tax of
three or four hundred million is
laid upon its industries, No mat
ter what disguise it may assume, our
present tariff system is essential
" a tax on the producing and i'll
duStrial classes. The national govern
ulClb ID SuppOIbGu ny q ida llOI upOA
property, but upon consumption.
The tariff is assessed. not upon what
men own, but upon what they eat and
drink and wear. 1t is too largely per
capita tax. Under it it is easily posi-
bic that a poor man with a large family
may be compelled to
Pay More Taxes
for the support of the national govern
ment than an economical millionaire
with only himself to keep. An average
man in the middle and lower classes,
making an income a basis of classified
ton, spends IS per cent of mis- income
tor food and clothing.
The average rich man cannot spend
over per cent of MS income for the
same purpose. National taxes being
levied as they are. the general class of
the people, the producing and industrial
classes and the great body of merchants,
tradesmen and professional men pay
fifteen times as much as the rich man.
There lies the secret of national dis
tress. The only permanent remedy is
in q readiustment of this great burden
of taxation and equaliZIng its press ure
upon all alike. Other countries do this.
There is no reason why the United
States cannot. To such a reform the
Democratic party is pledged. Upon the
strength OF that pledge it came into
nOCpr >