Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1901-12-03

sulting competition which gives rise t
so much bitterness in American indus
trial life; and it would dry up tn
springs of pestilential social condition
in our great cities, where anarchist
organizations have their greatest pos
: sibility of growth.
THE TARIFF.
| There is general acquiescence in ou
/ present tariff system as a national pol
icy. The first requisite to our prosper
ity is the continuity and stability O
this economic policy. Nothing coul'
be more unwise than to disturb tn
business interests of the country b,
any general tariff change at this time
Doubt, apprehension, uncertainty ar
exactly what we most wish to avoid il
the interest of our commercial ant
material well-being. Our experience
in the past has shown that sweeping
revisions of the tariff are apt to pro
duce conditions closely approaching
panic in the business world. Yet it il
not only possible, but eminently desir
able, to combine with the stability Of
our economic system a supplementary
system of reciprocal bs;38efit and obli.
cation with other nations. Such reci-
procity is an incident and result OF
the firm establishment and preservation
of our present economic policy. II
was specially provided for in the pres
ent tariff law.
handmaiden 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 reci-
procity be sought for so far as it Ca
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 po.
icy to meet our shifting national ne-Is
must be conditioned upon the cardinal
fact that the duties must never be re-
duced below the point that will cover
the difference between the labor cost
here and abroad. The wcll-being of
the wage-worker is a prime consdera-
ton of our entire policy of economic
legislation.
Subject to this proviso of the proper
protection necessary to our industrial
well-being at home, the principle Of
reciprocity must command our hearty
support. The phenomenal growth of
our export trade emphasizes the ur-
gency of the need for wider markets
foreign nations. Whatever is merely
petty and vexatious in the way of
trade restrictions should be avoided.
The customers to whom we dispose of
our surplus products in the long run,
directly or indirectly, purchase those
surplus products by giving US some
thing in return. Their ability to pur-
chase 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 Car use with
out harm to our own industries and la
Dor, or the use of which will be Of
marked benefit to us.
THE 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 a ma
ton that our merchant marine should
be utterly insignificant in comparison
to that Of other nations which we over
top in other forms of business. We
should not longer submit to conditions
under which only trifling portion of
our great commerce is carried in our
own ships. To remedy this state of
things would not merely serve to build
up our shipping interests, but it would
also result in benefit to all who are in
terested in the permanent establish
ment of a wider market for American
products and would provide an aux
iliary force for the navy. Ships work
for their own countries just as rail-
roads work for their terminal points.
Shipping lines, if established to the
principal countries with which we have
dealings. would be of political as we'll
as commercial benefit. From every
standpoint it is unwise for the United
States to continue to- rely upon the
ships of competing nations for the dis
tribution Of our goods. It should be
made advantageous to carry American
goods in American built ships.
THE GOLD STANDARD.
The act of March IA, 1900, intended
unequivocallly to establish gold as the
standard money and to maintain at a
parity Herewith all forms of money
medium in use with us, has been shown
to be timely and judicious. The price
of our government bonds in the world s
market, when compared with the price
of similar obligations issued by other
nations. is a fiattering tribute to our
public credit. This condition is evil
IDENTIFY desirable to maintain.
In many respects the National Bank
ing Law furnishes sufficient liberty for
the proper exercise of the banking
function; but there seems to be need
of better safeguards against the de-
ranging influence of commercial crises
and financial panics. Moreover, the
currency of the country should be
made responsive to the demands of
our domestic trade and commerce.
STRICT ECONOMY.
The collections from duties on inn
ports and internal taxes continue to
exceed the ordinary expenditures of
the government, thanks mainly to the
reduced army expenditures. The ut
most care should be taken not to re-
duce the revenues SO that there will be
a NJ, r,ossihilif.r Of a doHo{f. hut affo,.