The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1901-12-05

Elementary SYSTEM Vi ittipI oI"i D>
fit and obligation with other nations
Such reciprocity is an incident and re-
suit Of the firm establishment and
preservation of our present economic
policy. 1t was specially provided for
In the present tariff law.
Reciprocity must be treated as the
handmaiden Of protection. Cur hrst
duty is to see that the protection grant
ed by the tariff in every case where 1t
is needed is maintained, and that reel
procity be sought for so far as 1t 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 tarif pol
lev to meet our shifting national neeGs
must be conditioned upon tie cardinal
fact that tie duties must never be
reduced below the point that will cover
the difference between the labor cost
here and abroad. Tie well being OF
the wacewOrker is a prime considera-
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 or
our export trade emphasizes tie ur-
gency of the need for wider markets
and for liberal policy in dealing with
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 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 In
| ter"StS where we are not only able to
| supply our own markets, but to pro-
| duce d constantly growing surplus for
| which we must find markets abroad.
| To secure these markets we can utl-
ize 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
| ~, ie,
| 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 a
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
uDOn a sound basis and with those 9th
ers where either because of natural or
| OF economic causes we are beyond the
reach of successful competition.
| 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 our merchant marine
should be utterly insignificant in com
parison TO that of ether nations which
we ovcrtop in other forms Of business.
We should not longer submit to condi-
tons under which only tritling por-
ton of our great commerce is carried
in our own ships. To remedy this state
of things would not merely serve tC
build UP our shipping interests, but il
( would also result in benefit to all who
are interested in the permanent cstab
liShment of a wider market for Amer
lean products and would provide ar
auxiliary force for the navy. Ships
work for their own countries just a!
, | railroads work for their termina
, points. Shipping lines if established t.
, the principal countries with which W.
, have dealings, would lie Of political a
+ | we'll as commercial benefit. From ev
, cry standpoint it is unWise for tn,
United States to continue to rely upol
, the ships Of competing nations for tn
distribution Of our goods. 1t should b.
. made advantageous to carry American
goods in American built ships.
, At present American shipping is un
der certain great disadvantages whel
, put in competition with the shippin,
of foreign countries. Many of the fas
| or re
. teen knots or above, are subsidized
! and all our ships. sailing vessels ant
steamers alike, cargo carriers Of SLOW
speed and mail carriers of high speed
have to meet the fact that the origina
cost of building American ships /
, greater than is the case abroad: that tn
O wages paid American officers and sea
men are very much higher than thos
) paid the officers and Seamen of foreigl
f competing countries. and that tn
! standard of living on our ships is ia
superior to the standard of living OF
the ships of our commercial rivals. Gu
. government should take such action a
will remedy these inequalities. Th
American merchant marine should b
: restored to the ocean.
Financial.
The passage Of the act establishin
gold as the standard money has, it
= declared, been shown to be timely an
/ judicious. The president adds:
p In many respects the national bank
4 ing law furnishes sufficient liberty 70
k the proper exercise of the bankin
: function. but there seems to be nee
: Of better safeguards against the DE-
Il ranging influence of commercial crise
and financial panics. Moreover, tn
Q currency Of the country should b
5 made responsive to the demands of GU
b domestic trade and commerce.
l. Economy in expenditures is urged
h Amendment Of the interstate commerce
T act Is advised to insure the cardina
5 provisions of that act. The work cal
n ried on by the department Of agricu
J. ture is next considered and praise
,, | highly. The president then turns