New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-11-22
TWO KINDS or RETTSION.

II has been said that liars need short memo
rieS The men who insist that il would be
crime to disturb business now by any TAR
if agitation-who are they: Precisely the
same men who pei sisted in disturbing business.
even in the utmost prostrotion after the panic
Of 1893 with tariff revision which lasted
whole wear The same men. also who furiously
denounced The Senate bill as a surrender OF their
nrincpes and hopes a betrayal of public inter
ests a sale to monopolc>. the product of corrupt
bargains. n measure Of ''perldy and dishonor.
and then passed it. But now they declare that
II must stand untouched with all It's special
fnyors. the fruit Of criminal bargains, because
any agitation for a change would disturb bu'i-
ness. These men started with glarng uniruth
when they asserted in 1>T; that the proStTation
wa. caused by the silver act and not by the
threat Of Free Trade II has led them into me
amazing absnrditv If claiming that the country
has been rendered more prosperous Than ever
by an Infamous bargain with monopolies. and
betrayal Of the reform which thcy caileh nc''>
sary TO public prosperity.
This notion that any and every change OF
duties must cause depression is not merely ms
proved by experience. but is on its race gar
Ing absur,lity All through the year lS'". whiie
tariff revision in progress. the volume OF
business ranged from 10 10 ~ per cent beyond
that Of 1889 or any previous year: iron prodnc'!oh
WAS larger in each half of the year than II han
been in any halfycar before. and other INDUSTRIES
likewise expanded 50 It was when other re-
visions for more thorough protection were IN
urnereSs Depression came in lSS:'. when the
object of revision was 10 reduce duties. ana pros
iratinn in 1888 and 1884. when radical rell'-
tior was attempted. The teaching OF experience
is exactly in accord with the dictates OF common
sense Pro>pec, of higher stimulus ana "n or
arrment for industry never dcpres>c>. business
i pro,trated only hy the prospect that existing
,.r.ourag cement and defence may be wlhdllWh.
Every one who really wishes To understand the
mati,r will lind it easy ii he fixes attention upon
= particular branch of business. 10 matter which.
Reduction Of duties is proposed when production
+. LARGO wages and profits are good. and prices
fair All buyers ~ once hesitate Inc rc'u''
ton Of duties can have no other purpose IMAM To
admi, more foreign competition. and hence To
lower prices wages and profits The buyer walls
because he does not want 10 be- carrying NOR"
costly goods than his competitors VIII nave. NJ
once the whole movement i restricted. anu pro
ducerS limit their risks a. far as they can unlll
they know what change Is made. This lncNl-
tahly and always narrows business for the time.
even if The expected reduction i not fully made.
Every such effort must in the nature of things
deore,s industries and trade. ai least for time.
Rut when advance of duties Is proposed. IT is
for fine purposc Of curing existing evils. checking
cyccssivc foreign competition. adding new on
couropenont to domestic production. Every
b,iyer reasons that the immediate effect of higher
d,,tics will be To advance prices To some extent.
until the establishment of new works has in
creased the home supply "f the product In con
seouence every buyer Is tempted 10 purchase
nrompllv and 10 the full extent Of his wants, for
the change. if effected can DO him no harm. and
no i anxious 10 have - large a stock Of cheap
goods on hand H. he can in case of any rise.
Manufacturers also take time by the fOrelock
and Law in stocks If material. and push their
works even in advance of orders because the
hettrr prices. il secured. will give some profit
an an output which might at existing conditions
Weld none Thus there i, always more active
husincss and hopeful condition Of industry
when the object of pending legislation is TO af-
fnrd greater defence AMI encouragement 10 home
production. The necessity of larger revenue
will compel Republicans 20 conSider in what di-
rectlon duties may be advanced. They will not
Inc deferred in the least 10y the Democratic I'M
truth that any change in that direction must
check business.