, 1901-12-03

ihNi b 'e'Nt
that every application of our tariff pol
icy to meet our shifting national neeGs
must be conditioned upon the cardinal
fact that the duties must never be
reduced below the point that will cover
the difference between the labor cost
here and abroad. The well being OF
the waceworker is a prime considcra'
ton of our entire policy of economic
legislation.
Need For Wider Markets.
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 o:
our export trade emphasizes the ur,
gency of the need for wider markets
and for II liberal policy in dealing with
foreign nations. Whatever is merely
petty and veXatiouS in the way of
trade restrictions should he avoided.
The customers to whom we dispose OF
our surplus products in tho 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 rs 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.
1t is most important that we should
maintain the high level of our present
prosperity. We have now reached the
point in the development of our i'll
terests where we are not only able to
supply our own markets. but to pro-
duce a constantly growing surplus for
which we must find markets abroad.
To secur these markets we can util-
lie existing duties in any case where
they are no longer needed for the pur-
pose of protection. or in any case
where the article is not produced here
and the duty is no longer necessary
for revenue. as giving us something to
offer in exchange for what we ask.
The cordial relations with other ma
tons which are so desirable will nat
urally be promoted by the course thus
required by our own interests.
The natural line Of development for u
policy of reciprocity will be in connec-
ton with those Of our productions
which no longer require all Of the sup
port once needed to establish them
upon n sound basis and with those 9TH
ers where either because of natural or
Of economic causes we are beyond the
reach Of successful competition.
I ask the attention Of the senate to
the reciprocity treaties laid before it by
my predecessor.
The Merchant Marine.
The condition of the American mer-
chant marine is such as to call for i'm
mediate remedial action by the con-
gress. 1t is discreditable to us as a
nation that Il merchant marine
should be utterly insignificant in COM
parison to that Of other nations which
We should not longer submit to condi-
tons 'Eder which only a trifing por-
ton nf 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 interested in the permanent estab-
lishment Of a wider market for Amer
lean products and would provide an
auxiliary force for the navy. Ships
work for their W countries just as
railroads work for their terminal
points. Shipping lines, if established to
the principal countries with which we
have dealings, would be of political as
well as commercial benefit. From ev-
cry standpoint it is unwise for the
United States to continue to rely upon
the ships Of competing nations for the
distribution Of III goods. 1t should be
made advantageous to carry American
goods in American built ships.
At present American shipping Is I'M
der certain great disadvantages when
put in competition with the shipping
of foreign countries. Many of the fast
foreign steamships. at a speed Of four
teen knots or above. are subsidized,
and all our ships. sailing vessels and
steamers alike. cargo carriers Of slow
SpeCu anu man NulI icls VI hlSh sICeu,
have to meet the fact that the original
cost Of building American ships is
greater than Is the case abroad; that the
wages paid American officers and sea-
men are very much higher Ii those
paid the officers and seamen of foreign
competing countries, and tha: the
standard of living on our ships Is far
30 a., .tnnlnN 81 ~ lftny On
the ships of our commercial rivals. Our
government should take such action as
will remedy these inequalities. The
American merchant marine should be
restored to the ocean,.
Financial.
The passage Of the act establishing
gold as the standard money has. it is
declared, been shown to be timely and
judicious. The president adds:
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.
Economy in expenditures is urged.
Amendment OF the Interstate commerce
act Is advised to insure the cardinal
provisions of that act. The work car
ried on by the department of agrlcul-
ture is next considered and praised
highly. The president then turns to
forest preservation and irrigation of
arid lands. saying that both are highly
necessary. He would put all the work
In connection u,ith tho forost rooaryon