New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-24
THIS SURELY IS "HERESY.n
A DEMOCRAT ADMITS THAT TARIFF UNCER.
TAINTY CAUSES BUSINESS DEPRESSION
WHAT WILL HIS PARTY ASSOCIATES sAY!-HE
GIVES EXCELLENT REASONS FOR TIE
BELIEF THAT'S IN IIIM-TROUBLE
BY NO MEAN? OYER.

GIVES KEh.o->o r'is THE
BELIEF THAT l. IN IiIM-TRoUBLE
BY NO MEANS OYER.
rBr TELEGRAPH THE TRIBUSRi
Washington J,.y o.-There Is no reason o doubt
that many thoughtful Democrats IN Washington
we'll as elsewhere have become alarmed at the pros
poet before their party. and That their Tears OF i'm
pending disaster are steadily and surely npcnng into
the conviction that II Is inevitable. Among them,
| too arc men who while they ar" by no means
! mindful of tho partIsan considerations involved arc
| vet solicous for the welfare Of the country, and
who for that reason deploic the present state of
| affairs. They differ. however, rs u the canses Of
the existing disturbances and distress ana the means
OF relief TO be appli,d In giving his views
| of these matters 10 Tribune correspondent, one OF
these men, while sGpunting that MS name should
| lao withheld was willing that the substance OF what
he said should be- published. lie Is Democrat who
has held a prominent place In the councils Of his
party who has helped 10 shape ITS po'icy both In
Congress and National conventions ana VINO Is
| sircwd and farcful well as IN Interested oh
server OF political events II will be observed that
| his vicws do moi accord with those Of some other
| Democrats whose chief anxiety Is for themselves
and their Marty and who always ready ana Willing
| 10 be quoted. Among other things ne SAD
81 frankly comics, my fear that money strIngcncy
| and consequent depression In business VIII become
moro severe and that the number OF suspensions and
| times 1t is my opinion that those VINO expect to
SEQ sudden removal OF dlstrist and equally sudden
| revival of Confidence and prosperity when Congress
| assemblies or within n short time aitrward VIII be
disappointed In the first place the differences Of
| opinion as to what should be- done In regard 10 the
| money question are so numerous so woc ana 80
radical that months instead Of weeks may d; required
10 accomplish the unconditional repeal OF the bullion
purchase provisions OF the silver law although large
majority Of the people appear TO be In favor OF it, and
probably the same is true OF the majority In either
branch Of Congress Besides, experience teaches tho'
| there is always great danger In that oooS mat 100
mnpy cooks will spoil the BROTH. In the senate 'here
will be a strong and aggressive minority opposed 10
reneaI unless the same act carries what Western and
southern Democrats and sprnkIing oil western hc
pubcans call remedial legislation In behalf Of silver
The same remark will apply to the House OF Repre-
sentatives.
"On fine other hand the strongest and most aggres-
sIye friends Of unconditional repeal In both parties
| ot least an overwhelming majority OF them. are
eoualIy earnest I'm behalf OF remedial legislation 10
strengthen and perpetlate the National banking
tenn TO which very la majority oil the Democratic
party Is either indifferent or actively ana bitterly
| hostile The silver men demand simultaneous repeal
and remedial legislation while their opponents insist
that rep al shall first and that remedial legs
lation whatever may be Its nature ana scope snail
| be deferred. do not think 1t at all probable that
| those clashug opinions can DE- drought "h'"'' ""
the basis OF resurrection OF state banks. nor DO
| ho,eve that such a compromise would benefit the
country Indeed ! am OF the opinion That 1t would
make matters wore instead OF better.
But even supporting the bullion purchase provision
sho,Id Ia. uncoudltionaIy repealed before the begin
ming az The regular session In December, that alone
and OF Itself. In my Judgment would not restore 'ie
business confidence ana general prosperity Tor "hcn
We are all anxious and It's failure To d. - wonn
| .,l,ahl pXnfp
is why | say that fear things VIII grow "or''
before they begin to improve
What other causes. In Your opinion. are operating
TO prevent n revival OF business and prosperity :!
asked the correspondent.
The agitation OF the subject OF tarif legislation
Is unquesonably the chief cansc. A. YOU know,
7 am a Tariff Rcformer-I have even been called
Free Trader by YOU Rcpubllcans-and helev" that "A
large reduction OF duty could b" ana ought
TO be made II relation 81 the revenues - n"c"s
ary expenditures would justify II but The eNpeii"nc"
OF the past furnishes conclusive proof that ih" agia-
ton Of proposition to reduce dulir' viii AWAY
disturb existing business conditions The disturbance
+, deeper and greater now than II has ever been
before several reasons. In tn" hrst place. th"
country has been living and doing business under
protective tariff for more than thirty years, ana III"
present generation Of business men know little or
nothing by experience OF different system. and they
are naturally disposed TO cXaggeratc the effects q"
change upon the enterprises in which they are en-
gagged.
"For generation Irolec,ioni,ts have been preach
ing the beauties and benefits oi their system uhuh
nearly all the manufacturers ia the country. n Wei
: large proportion OF the farmers Hihp''"""'
miners and wngc-carncrs. on their side. All of
these people have been taught 10 brlieN" That
change In our iarin system would b" Injurious OF
disastrous TO them. or course. believe they are
altogether mistaken. but that they bclirvc otherwise
Is sufficient for them.
Another reason why tarln agitation produces
q wider and deeper disturbance than ever before i
that the amount OF capital invested aud the humber
Of persons Interested and employed in manufacturing
Industries and in occupations aud enterprises whose
prosperity Is dependent either wholly or To great
extent upon the prosperity Of those industries are
relatively speaking. immensely larger than ever be
fore. suppose that the amount OF capital Invested
and the number Of persons directly and Indirectly
Interested and employed In such Industries, occupations
and enterprises ten. perhaps twenty. times aS
great as in 1916. when the Walker tarif was en-
acted and when the population Of the country was
nearly one third as large II Is third reason
why tariff agitation Is affecting business so severely
now Is that the first tine since the war bonn
the legislative and executive departments Of the Coy
eminent are in the hands OF the party which is
pledged duties and eliminate protection from
our economic system. II should not BE- forgotten
that every revision OF the tariff during The last thirty
wears has been dictated and controlled by the advo
Gates and supporters Of the protective system >ou
must remember the fate that overlook the Wood
bin and the Morrison bills IN the House Of Represent
avcs, and Mills bill and tile springer bill after
they reached the Senate. Everybody fct reason
ably certain beforehand that each Of these attempts
10 reform tho tarif would fan. and therefore the
effects upon business were comparatively slight. The
case now Is entirely different. and every Intelligent,
man. whatever may bc his politics. viii admit. |
think II he expresses his honest belief. that the
isllng business troubles very largely due 10 this
fact
cot course the prompt passage OF 4 general tariH
hl on the lines indicated in the Democratic National
platform would quickly end this injurious agitation,
remarked the correspondent.
och, yes, certainly II would replied the Demo
cra;. with marked emphasis the last word
DO you think there f. any doubt Of the passage