Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1896-05-23
THE ANTICIPATION THEORY.
rarin Results which Republicans Did
Not Expect.

i1E AiN tTAitON IHGOuIs
rarir Results which Republicans Did
Not Expect.
If our high-tariff friends who have
recently been complaining about the
alleged effect of the present tariff upon
business and the industries will pause
for moment and inquire as to their
own uttcrances of ten months ago, they
will learn something to their dlsadvan-
tage. 1t was in last April and May that
very interesting and cheering upward
movement in trade and industry began.
The first increases of wages were made
in the last days of March or the first
week of April. The number of such in
crcascs grew from week TO week until
1t was an easy matter to compile from
the trade journals a list including sew
eral hundred large concerns in which,
as prominent republican journals adj
mitted, the daily earnings of more than
100000 employees had been enlarged.
This upward movement was ignored by
the high-tarin organs for some time
because they had continually asserted
that there could not be any increase o.
wages or any revival of industry so long
as the democratic tariff should be in
force.
But at last they were compelled to
admit that a revival had come, although
the democratic tariff had not been re-
pealed. 1t was in the middle of May
for example, that the New York Trib-
une was constrained to speak of it as
'the glad recovery" and to begin to
point out that advance in wages
which is very properly called "a bless
ing" Other republican journals fol-
lowed our neighbor, and soon there was
q full chorus of joyful republican COM
ment upon this upward movement,
which, the same journals had been say
ing, could not take place so long as the
tariff duties enacted by the democratic
party should remain undisturbcd.
They consoled temselves, however, by
an explanation to which we desire now
to direct their attention. 1t was that
all this recovery was due to a popular
expectation that the Mckinley tariff
would be restored, because republican
victory in 1896 could easily be forseen,
and the party, regaining power in 1897,
would speedily reenact the old duties.
The New York Tribune said on May 13:
This recovery is an anticipation. 1t is
discounting the improvement which men
have a right to expect where the coming
congress brings republican experience and
patriotism and common sense to bear upon
hn nf m anr fv-xy -
We might cite republican opinions Of
ten or eleven months ago almost with
out number that the remarkable revival
was due not only to expectation of bene-
fits from the present congress, but also
TO an anticipation of republican success
in the elections of this year and of a re-
vision Of the tariff on Mckinley lines in
1897.
But there came reaction, and it was
to be seen just before the assembling of
congress. 1t was not checked by the ex-
hibition in congress OF republican ex-
sense" Indeed, an impression prevails
that it was caused in part by apprehen-
sion as to what congress might do and
has been prolonged by what congress
actually has done. For some time past
the high-tariff newspapers have been
commenting gloomily upon the condi-
tion of business and as serting that the
democratic tariff is running the country.
What we should like to have them eX-
plain is why anticipation of republican
success and of a Mckinley revision of
the tariff in 1897 should have remark
ably stimulating and reviving effect i'll
the spring and summer of 1895 and have
no such effect at the present time.
They are as confident now of success as
they were ten months ago, and they
hold, of course, that the date of The Nc
Kinley revision is nearer now by ten
months than it was in June, 1895. If it
be true, as they say, that industries are
suffering so severely now from depres-
sion caused by the present tariff, how
was it that this tariff did not so affect
them last summer? And if anticipa-
ton caused activity and "a glad recov-
cry" then, why should it fail to do so
now? There are men who think that
"the glad recovery" would not have
been interrupted if there had been no
session of congress, with its attempt to
unsettle business by the Dingley-Mc-
Kinley tariff revision for this year and
it's promise of another general tariff
act, with still higher duties, to be passed
two years hence, and some other dis
turbing manifestations with which
everybody is familiar, but this theory
will have no weight with those who see
no protection in tariff the average ad
rate of which is 4l.75 per cent,
while 4s.66 per cent. was the annual
average under the Mckinley act.-N.
Y. Times.