The Providence news. (Providence [R.I.]) 1891-1906, 1897-01-07
Mr.. Aingley Expects a
New Tariff by July l.
Thinks the Country Is at End
of the Panic.
Present Trouble Is Lack of Pur-
chasing Power by People.

| t"Ty VI tho tTcasury, ID very lnJcrtotiuH
man. Among all my aoquaintanoes in
pubic lie do not know another man who
has such logical mind as that possessed
by the distinguished leader Of the Repub-
licans in the house Mr. Dingley abhors a
man who cannot think and talk In log
ical manner. 1t is a curious study to see
him during debate In the house. IL a
man gets up and starts u speech and shows
at the outset that he il neither master OF
his subject nor capable Of telling the little
he does know in u logical and impressive
way, Mr.. Dingley's face takes on an ex-
preston OF pain. He listens q few mo.
ments more and then he fees from the
hall Ho cannot endure to sit and listen
to disconnected, rambling bungling ef.
| fort, no matter who the pcrpetrator Is. 1t
follows, rs a matter of course, that Mr.
| Dingley is not much In his seat while do
| bates are on
Dingley's Opinions.
Just now the governor Is very busy
man. He is hard at work upon the prep
aration OF the new tariff bill. Iasked him
today what the outlook was for the meas
ure and whether or not it was going to
help the country TO get greater measure
Of prosperity. His reply was interesting.
and, though IL OF course presents the pro-
lection and distinctively Republican view
OF things, feel sure my readers will DO
glad to know his opinions.
Yes we are going to pass tariff bill, !"
said Governor Dingloy, "and am Of the
firm belief that it is going to help the
country to prosperity. We are not only
going to pass bill, but we are going to
pass it In reasonable time. or the house
there Is, OF course no question. We can
mi ha
We wish. The senate is another sort of body,
and the Republicans there are still scant
OF votes But l have information which
leads me to a strong belief that we shall
have no serious difficulty In passing our
bill after q reasonable debate. The policy
of the Democrats there, as understand It,
Is to analyze the bill, point out their OBJ
Jections to some OF it's details, make the
Republican party wholly responsible for it
and its effect upon the prosperity Of the
country and then let IL pass without fac
tious opposition or improper delay I see
no reason why we should not have the
new tariff measure upon the statutes in
time to go into operation by the lst of
July, whom the new government fiscal year
begins
Discounting the Future.
I'm order to ascertain whether or not
we are going to give the country q greater
measure of prosperity by means of our
tariff bill 4" continued Governor Dingley,
lit Is first necessary to inquire what was
the cause Of the recent commercial depres-
sion. 1t was to some extent an inevitable
condition, duo to tho temperament of our
people We are n hopeful people, q self
confident people, an optimistic people In
normal times we build very fast. We CON.
struct many railways, build many shops
produce much, borrow much, speculate |
much, overstrain our credit, discount the |
future. There must come time Of settle |
ment time OF rest and recuperation, a
time of catching up. These periods are
panics. The weak are shaken out. The /
insecure lind their footing gone
The Bond Issues.
"In my Judgment wo were approachinp
somc such period when the election of 1899 |
gave an iin., etus to tho danger Tho coun.
try was carried In that year by party
which threatened revolutionary tariff leg
The threat Of revolutionary tariff
legislation Is often worse than the reality.
In that case not as much was realized as
had been threatened, but the mischief was
DONE When the new tariff law itself was
put in operation. 1t failed to bring in
enough revenue for the needs of the gov
and deficit helped to unsettle
Distrust was bred, and the
whole difficulty was accentuated and om- |
,hasized by the bond issues
Now we have come nearly to the end
II this period of panic. We are at the end.
I reports from all parts Of the country
nay be believed. In the nature Of things, |
business will get better If there be no leg
Station by congress But just as the nat
lral conditions which were tending to
ring about a panic were given an impc-
us by unwise tariff legislation, 80 the nat
Iral conditions which are tending to bring
bout recovery may DO aided by wise leg
Station. That Is precisely what we hope
o do. We do not delude ourselves with
ho idea that by law we can do tho thing
tself, but We can help. /,
Lcssensd Pure chasing Power.
"The great trouble with the people now
! that they lack purchasing power. II ac-
urate statistics as to the reduced purchas-
ng power Of the people could be gathered,
hey would make "A startling chapter. II
he people do not earn, they will not buy.
ONO stop buying or curtall expenditures
trough necessity, Others through caution
nd sympathy. Tho people of this country
no now buying 25 per cent less of farm
rouucts per CAPITA thnn they bought In |
S92. They are buying only one half as
luch woolens, and so with cotton. In :
idition to lessened power of purchasing,
hich means reduced consumption, we =
ave under the present tariff law imported ,
10 much. The foreigner hos had moro I.
IAN his fair share Of our market Pro
nction having been continued at great
rate than consumption, prices have in !
'itably fallen. Wages have been cut for d
lose who retained work, and many have 1
1t been able to work at all or only short 1,
me.
"Wc propose to give the country n mod.
ate tariff law which will revive stricken
dustries, keep out part OF the importa-
pms, put moro men at work, increase tho Ia
irchasing power Of the masses, make v
ore demand for goods, enable producers q
get n shade better prices, restore conf n
nee and hope, start up the wheels that
yo been lying idle In this way we be.
we we can assist natural conditions 10 i'
store prosI Gritty. The government must h
We enough revenue and be able to set "