The suburban citizen., 1901-12-07

] ability tOT any lulIdCllOu OF ulc law
Present Tariff System,
There is general acquiescence in our
present tariff system as a national pol
lev. The first requisite to our prosper
itv is the continuity and stability OF
this economic policy. Nothing could be
more unwise than to disturb the busi-
ness interests of the country by any
general tariff change at this time
Doubt, apprehension, uncertainty are
exactly what we most wish to avoid in
the interest of our commercial and ma
teral well-being Our experience in the
past has shown that sweeping revisions
of the traiff are apt to produce condi-
tions closely approaching panic in the
business world. Yet it is not only pos
sible, but eminently desirable, to com
bine with the stability of our economic
system supplementary system of re-
ciprocal benefit and obligation with
other nations. Such reciprocity is an
incident and result of the firm estab-
lishment and preservation of our pres
cnt economic policy, 1t was especially
provided for in the present tariff law.
Reciprocity must be treated as the
handmaden of protection. Our first
duty is to see that the protection grant
ed by the tariff in every case where
it is needed is maintained, and that
reciprocity be sought for so far as it
can safely be done without injury to
our home industries. Just how far this
is, must be determined according to the
individual case remembering always
that every application of our tariff poll
-. .,,,at ,,,r ebiftivor ,ot;nroI Je
must be conditional upon the cardinal
fact that the duties must never be re-
duced below the point that will cover
s the difference between the labor cost
here and abroad The well-being of the
wage-worker is a prime consideration
of our entire policy of economice legis-
lation.
' Subject to this proviso of the proper
protection necessary to our industrial
well-being at home, the principal of
reciprocity must command our hearty
support The phenomenal growth of ex-
port trade emphasizes the urgency of
the need for wider markets and for a
liberal policy in dealing with foreign
nations. Whatever is merely petty and
vexatious in the way of trade restric-
tions should be avoided The customers
to whom we dispose of our surplus pro-
ducts in the long run, directly or indl-
rectly, purchase those surplus products
by giving us something in return.
Their ability to purchase our products
should as far as possible be secured
by so arranging our tariff as to enable
us to take from them those products
which we can use without harm to our
own industries and labor, or the use of
which will be of marked benefit to us.
| ask the attention of the Senate to
the reciprocity treaties laid before it
by my predecessor.
American Merchant Marine.
The condition Of the American mer-
chant marine is such as to call for inn
mediate remedial action by the Con-
gress 1t is diScreditable to us as aNation
that our merchant marine should be ut
terly insignificant in comparison to that
of other nations which we overtop in
other forms of business We should not
longer submit to conditions under
which only a triAing portion of our great
commerce is carried on our own ships
To remedy this state of things would
not merely serve to build up our ship
ping interests, but it would also result
in benefit to all who are interested in
the permanent establishment of a wider
market for American products, and
would provide an auxiliary force for the
Navy
Our Government should take sucf
action as will remedy these inequali.
ties. The American merchant marine
should be restored to the ocean.
The Gold Standard.
The Act of March a. 1000, intended
unequivocally to establish gold as tht
standard money and to maintain at {
parity Herewith all forms of money
medium in use with us, has been showr
TO be timely and judicious The price
of our Government bonds in the world!
market, when compared with the price
of similar obligations issued by othei
nations, is a 1attering tribute to oui
public credit. This condition it is evi
IDENTIFY desirable to maintain.
In many respects the National Bank
ing Law furnishes sufficient liberty fo
the proper exercise of the ankini
junction. but there seems to be neeC
of better safeguards against the derang
ing influence of commercial crisis and Fl
nancial paniCs,
Internal Taxes.
The collections from duties on i'm
ports and internal taxes continue t.
exceed the ordinary expenditure o
the Government thanks mainly to tn
. reduced army expenditures. The ut
most care should be taken not to re
duce the revenues so that there will b.
any possibility of a deficit; but, afte
, providing against any such contingen
cy means should be adopted whicl
will bring the revenues more nearl,
within the limit of our actual needs, Ii
, his report to the Congress the Secre
tary of the Treasury considers all thes
. questions at length, and | ask your at
D. tention to the report and recommenda
tions
] Strict Economy.
call strict attention to the need o
strict economy in expenditures. The fac
that our national needs forbid us to b
niggardly in providing whatever is actu
ally necessary to our wel-being, shoul
make us doubly careful to husband ou
national resources, as each of us hus
90. t.. 1,,s