The Yale expositor. (Yale, St. Clair County, Mich.) 1894-current, 1901-12-06

| business world Yet Ia n not only possible.
but enlincntly desirable. 20 combine with the
stability Of our economic system a supple
mentary system OF reciprocal benefit and Obl-
! gntOn with other nations. Such reciprocity
j. an incident and result OF tho Arm cstah-
/ hahment and preservation Of our prcaent
/ economic policy Ia was specially provided
/ FOR Ia the present tarin law.
our irst duty l. 10 see that the protection
| granted By the tariff in every ease whore lt
/ NJ needed "a maintained. aud that reciprocity
] DO sought for 20 far na n can safely BE- done
I without injury 90 our homo Ind lHtrieH. Just
/ how FAR this a. must be determined accord
/ lag 90 the individual case. remembering al
l ways that every application % our tariff poll
] iry 90 meet our shifting national needs must
l be conditioned upon the cardinal fact that tho
\ duties must never BE- reduced below the point
I that viii cover the difference between the
\ labor cost here and abroad. The wcl-being
I ~ the wagc-workcr % prime consideration
I OF our entire policy % economic legislation.
subject TO this proviao a. the proper pro-
/ lection necessary 90 our Industrial well-brins
al home the principle ~ reciprocity must
command our hearty support The pheno-
mcnal growth OF our export trade empharizea
| the urgency Of the need Tor wider markets
and for liberal policy In dealing with for
eign nations Whatever ~ merely petty and
veNaiious In the way OF trade restrictions
should be avoided The customers TO WHOM
We dispose OF our surplus products In the
7 long run. directly or Indirectly. purchase
/ those surplus products BY giving us some
/ thing I'm return. Their ability to purchase
/ our products should an FAR as possible De
secured by 80 arranging our tariff as 90 en-
l MNlf w 70 AAhN from tNNm tlNhN nfuuNriN
| which We can use without harm 20 our own
industries aud labor. or the use OF which VIII
I be OF marked benefit 60 us.
we have now reached the point In the
development Of our interests where are
not only able TO supply our own markets
but 10 produce constantly growing surplus
for which We must md markets abroad. To
secure these markets We can utilize existing
duties In any case where they are no longer
needed for the purpose % protection. or IN any
case where the article Is not produced hero
and the duty IL longer luT
revenue. 40 giving us something 20 offer in
exchange for what Ne ask Tho cordial re-
lauons with other nations which are so de-
aifable VIII naturally be promoted by the
course thus required by our own Interests
The natural line Of development for a
policy OF reciprocity viii be Ia connection
with those Of our productionh which no long-
cr require all Of the support onro needed
60 establish them upon sound basis. and
natural or 81 economic causes we are beyond
the reach Of successful competition.
y ask the attention 81 the Senate 20 the
reciprocity treaties laid before u By my pre-
deccsuor.
our Merchant Marine.
1.-THE condition % the American merchant
marine ia such a. 20 call for Immediate
remedial action by the Congress. IL be- dis
cE.d.tahlr 20 %. as a Nation that our MGR
chant marine should be- utterly insignificant
in comparison TO that 90 other nations which
We overtop in other forms ~ business
American shipping Is under ccrta.a great
DISADVANTAGES when put In competition with
the shipping ot foreign countries. Many OF
the fast foreign steamships. az speed 81
fourteen knots az above. are aubsGizld and
an our ships, Ealing vessels aud steamer
alike. cargo carriers ~ slow speed aud mail
carriers Of h.rh speed. have 90 meet the
fact That the original cost 81 building Amrri
can ships a. greater than iE tho case abroad
that the wages paid American officers AMI
Eeamcu are very much higher than those pa
the officers and HoaWCn ~ foreign competing
countries; and chat the standard OF living
on our ships iH FAR superior 90 tho standard OF
living on the ships % oar commercial rivals.
"Our government should take such action
~ will remedy these inequalities. The Amer
tcan merchant marine should be restored 20
the ocean.
equivocally 20 establish gold as the standard
money and 90 maintain az parity the 'rwiih
all forms % money medium Ia use with us,
has been shown 90 be timely and Jude Ious
The price 81 our government bonds 30 tho
worlds market, when compared with the
price % similar ohligaionH issued hy other
unuonH. N naftcrlug tribute Co our publ e.
credit. This condition u is cuIinontiy dcsir-
able 20 maintain.
In many respects the National BANKING
Law furnishes sufficient liberty for the proper
cNerclrc ~ the banking function but there
seems % BE- need % better safeguards against
the dernnging influence OF commercial CRISES
and financial panics. Moreover the currency
% the country should BE- made responsive
TO the demands OF cur domestic trade aud
commerce.
Reduction of Revenues.
The collections from duties on imports and
Internal taxes continue 90 exceed the ord
nary expenditures. Tho utmost care should
be- taken not 20 reduce the revenues 90 that
tire VIII BE- any possibility of a deficit. but,
after providing against any such contingency,
means should be adopted which will bring the
revenues more nearly within the limit OF our
actual needs
Il caII special attention 10 the need Of strict
economy IN expenditure. The fact that our
national needs forbid us 90 be- nFgafdly I'D
proEldlng whatever y actually necessary 90
our weil-hc.ng. should make NJ dnuhiy care
iul 90 husband our national resources. 80
each % US husbands hia private resources. by
scrupulous avoidance 81 anything like waste
ful 90 Tccklcss expenditure.
Regulation OF Railroads.
In 1857 a measure was enacted for the res.
ulntlon OF Interstate railways. commonly
known as the Interstate Commerce Act. Tho
cardinal provisions 81 that act were that
railway rates should be Just and reasonable
and that all shippers. localities. and commp-
dities should b. accorded equal treatment. a
commission waa created ard endowed with
what We're supposed 20 be the necessary pow
cra 20 execute tie provisions 81 this act.
That Law vas largely an experiment. Ex-
pcricnco has shown the wisdom OF Us pur-
poses. but har also shown. possibly that some
81 ia requirements ara wrong certainly that
the means devised for the enforcement 81 itn
provisions are defective
Tho act should be amended. The railway
D. public servant Its rates should hc just
TO and open 10 all shippers alike. The gov
eminent should see 90 II tia, within is iuris-
dlction this ~ no and should provide a speedy.
inexpensive. and effective remedy 10 that end
Attic same time u must not be- forgotten that
our railways are the arteries through which
tho commercial Likelihood % this nation flows.
NOTHING could b. more foolish than the
nctment of legislation which would unuccca-
rarly interfere with the development and
operation Of these commercial agencies. The
aublcc; ia one uf great importance and calls
for the earnest attention Of the Congress.
Tho message points out the value Of the
American forests and the necessity for their
conservation. aud urges the construction and
maintenance of reservoirs and irrigating
ayHtcma for the reclamation ~ the Grid lands
81 tho West or the water rights u says:
In tho arid states the only rlght % water
which should be recognized b. that a use. In
irrigation this right should attach 90 the
land reclaimed aud b. iuaeplrahc therCfrnm.
Granting perpetual water rights 10 others
than users. without compensation % the
public. b. open % all the objections which
apply 90 giving away perpetual franchises 20
the public utilities % elites. few ~ the
Western states have already recognized this
and have Incorporated in their constitutions
tho doctrine 90 perpetual state ownCrship 81
water
Development OF Hawaii
"cur aim should o. not simply q reclaim
the largest area ~ land and provide homes
for the largest number az people. but no
create for this new Industry the bcut possible
social ard industrial condltlnlE. and this re-
auires that we not only understand the exc
irtinr situation. but avail ourselves 81 the
best experience of the time in the solution