The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-26
TO CRITICISE THE NEW LAW
YET.
THE ACME OF PROTECTION.
If TT FAILS 1T is APPARENT THAT
THE SYSTEM is ALL
WRONG.
PHENOMENAL
CROP
YEAR.
Conditions Which Promise an In
crease in Exports of Cereals
and Products.

Special to the Globe.
NEW YORK, July 25.-In his weekly
review of the financial situation Henry
Clews says:
At last the long-expected tariff law has be-
come an established fact. If the process Of
framing it has been protracted and tedious,
that fact may be regarded evidence of
purpose to make the deliberations thorough,
and the result therefore the more satisfactory
and lasting. However private views may diff
fer as to the policy of the measure, it
devised in obedience to the expressed wish
OF majority of the nation; and its discus
sion was attended with the fullest hearing
of both sides of the opposite interests con-
cerned. At least, therefore, the enactment
Of the tariff law of 1897 must be accepted
the expression of the best judgment of the
nation for the time being. That judgment
is the only constitutional means Of conducting
the affairs of the country, and it should
therefore be Loyalty accepted and fairly and
patiently subjected to the test of experience.
To those at least who approve of the policy
OF protection, the new law presents one con-
sspicuous feature for congratulation. 1t ex-
tends aid to many interests which have thus
far failed to receive the fostering care Of
legislation, and which have yet the same po-
been protected in a high degree for the last
generation. 1t Is matter of congratulation
that these newly protected interests, are more
or less directly agricultural. 1t is not
small matter to those dependent on the culti-
walton of the soil that the cattle and sheep
raisers the fruit growers, the sugar producers
kind of encouragement as has been given so
generously to the manufacturing and mining
industries. The direct tendency of this fos-
tering recognition will be to diversity agri-
cultural production and thereby diminish the
overproduction Of cereals from which the
farmers have acutely suffered for many
years past.
There can hardly be any doubt as to the
effect of the change in tariff duties. The
importing interest recognize the fact that 1t is
going to be very difficult to bring into the
of merchandise
equal to that which found easy admittance
under the Wilson act; not only because the
Dingley law Is more skilifully directed
towards the exclusion of important classes
of merchandise. The manufacturers appre-
ciate this fact, and are therefore more con-
fident of their safety against foreign compe-
tition; and having this confidence they may
be expected to undertake the resumption of
production upon a scale which they would
have hesitated to undertake under the lower
duties now repealed. On this account, 1t
seems reasonable to expect that there will be
from this time forward much more vigorous
moyement in our industries than has been
witnessed for the last four years; which is
the one thing up to this point wanting to
to normal activity of business. This fact be-
gins to have its effect upon the investment
and speculative interests of Wall street and
the stimulus can only be expected to become
more apparent as the recuperative tendency
in manufactures steadily develops.
Concurrently with this impulse 10 the manu-
featuring interests CONES very important
improvement in the farming prospects of the
country. The general drift of weather condi-
lions is towards the harvesting of ample crops
in good condition. Winter wheat has been
gathered in excellent condition, and every
where its excellent quality is admitted. A
trustworthy Chicago authority reports, ais to
spring wheat, that particular change is
apparent from its hitherto good promise. The
weather has continued wholly favorable. Har-
vesting will soon begin in the southern part
of the belt, with every indication pointing to
the probability of a phenomenal rate of yield.
The little complaint Of rust and other unfa-
vorable conditions which have been met with
recently seam to be lost sight of, and
there is now little probability of any condi-
ton arising after this date that is Likely to
affect the promised result" The yield of the
winter and spring crops combined is now esti
mated at about 500, 100000 bushels. In respect