Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-11-07
PROSPECTS, OF PROTECTION.

PROSPECTS OF PROTECTION.
Tho Republican Congress WIN Do Some
Tariff 1fnk1ring.
For some time past consultations,
partly by correspondence and partly
personal, have been going on between
republican leaders about the course to
be pursued by the majority party at the
approaching session of congress with
reference to the revenue and the cur
iency. In these consultations Senator
Aldrich, the recognized republican
chief in the senate in regard to all such
questions, and Mr.. Reed, the next speak
er of the house, have been engaged,
while prominent members of the repub-
lican national committee from the west,
northwest and New England, have been
called in to report on the views of their
constituents. It is reported that
Messrs. German and Brice have made
overtures to Mr.. A1drich for an under
standing by which the minority should
support any currency measure that the
republicans shall determine upon and
the majority should bring up the rev
enue by taxes on beer and checks. The
journal that prints this report states
that this suggestion was fayorably re-
garded by Mr.. Aldrich, but rejected by
the western republicans, who will de-
mand a tax on wool and on metallic
ores.
Whatever may be the truth regard
ing this specific proposition and its;
treatment, the story certainly presents
very fairly the situation, especially as
concerns the republicans. The demo-
Gratis, having lost their majority in con-
gress, are poweriess to enact positive
legislation, and their responsibility is
limited to the duty of the president to
state the general situation of affairs
and to make appropriate recommends
tons. The situation is simple enough.
There will be, it is now pretty certain,
q deficit in the revenues for the current
fiscal year, but it will be so small a per-
centage of the available cash in the
treasury that, so far as the ordinary
expenditures of the government are
concerned, it will be of no Importance.
But the regular expenditures of the
government do not produce the only de-
mands made on the treasury. Of far
greater consequence is the requirement
to maintain at par in gold the large
volume of currency in various forms
issued by the government, and amount
ing to some $500, 100000. For this pur-
pose the gold reserve must be main
tanned, and that can only be done by
taxes or loans. Fortunately the au-
thority for the latter is ample, and the
administration is bound by its plain
duty as well as by it's repeated pledges
to use that authority to the fullest ex-
tent required for the protection of the
country. Nor can that authority be
withdrawn by hostile congress SO
long as the executive remains in the
present hands.
The question of affirmative legisla-
tion as to either taxation or revenue is
not, therefore, a pressing one, though it
is very clearly an important one, which
should be dealt with in an intelligent
manner and without reference to mere
partisan aims. Whether the majority
viii deal with it in that manner remains
to be seen. If Senator Aldrich's posi-
ton be correctly reported, he at
least must be credited with good sense
and public spirit. If an agreement
could be reached by which two such
obviously fair, proper and economical
ly collected taxes as those on beer and
checks could be secured and currency
legislation in accordance with Mr.. Aid
rich's sound views could also be OBJ
tanned, it would be most happy event.
But if the republicans are going to in
sist on no added revenue except through
the renewal of protective tariff duties,
they will simply show their folly, for
they will waste their energy in the vain
pursuit of policy wrong in itself and
sure to encounter popular disapproval.
1t is to misread all the signs of the
times to suppose that the American
people wish or will tolerate a
backward step toward protection
and especially toward duties on raw
materials Even if they were not, as
we are entirely convinced that they
are, d;sabused of the error they so long
cherished as to the virtues of taxing
the materials of industry, they would
still be utterly averse to opening new
period of tariff sinkering. The coun-
try is gradually, but with great en-
ergy, moving toward renewed prosper
ity, and the prime condition of success
is the greatest possible stability in leg
islation. Business men know what
the tariff is now and can make their
plans accordingly. If it is to be
changed, if the direction taken under
the direct and imperative mandate of
the popular vote is to be reversed, they
cannot know the immediate future.
They will again be plunged in doubt
and uncertainty. Their foresight will
be baffled, their calculations confused,
their energies hampered. This is why
we are convinced that the policy at
tributed to the western republicans is
to the last degree foolish.-N. Y.
Times.
PARAGRAPHIC POINTERS.
Iowa republicans are now admit
ring that they are compromising felony.
The Iowa republicans are either very
confident or very badly scared. = St.
Louis Republic.