The Van Buren press., 1902-12-06
THE TARIFF.
II Is a subject That stands Apart from
the Trusts.

THE TARIFF.
1t Is a Subject That stands Apart from
the Trusts.
One proposition advocated has been the
reduction OF the tariff as means OF reach
ing the evils Of the trusts which fall with
In the category ! have described Not
merely would this be wholly ineffective,
but the diversion OF our efforts In such
direction would mean the abandonment Of
all Intelligent attempt. TO do away with
these evils Many. Of the largest corpora
tions. many OF those which shoGla GER
tsiniy oe included In any proper scheme OF
regulation, would not be affected In the
slightest degree by change in the tariff,
save as such change interfered with the
general prosperity OF the country. The
only relation Of the tariff TO big corpora
tions as a whole is that the tariff makes
manufactures profitable, and the tariff
remedy proposed would be in effect simply
TO make manufactures Improbable. To
remove the tariff as punitive measure
directed against trusts would inevitably re-
suit In ruin to the weaker compe tltors who
are struggling against them. Our aim
should be not by unwise tariff changes to
give foreign products the advantage over
domestic products, but by proper regula-
tion to give domestic competition a fair
chance, and this end cannot be reached by
any tariff changes which would affect un-
favorably all domestic competitors good
and bad alike. The question Of regulation
OF the trusts stands apart from the ques-
tion Of tariff revision.
Stability OF economic policy must always
be the prime economic need Of this country.
This stability should lot be fossilizaton.
The. country has acquiesced in the wisdom
Of the protectlve-tariff principle. 1t is ex-
cee6lngly undesirable that this system
should be destroyed or that there should be
violent and radical changes therein Our
past experience shows that great prosper
ity In this country has always come under
protective tariff; and that the country
cannot prosper under htfu tariff changes
at short intervals Moreover, If the tar!n
laws as a whole work well, and II business
has prospered under them ard is prosper
ing, 1t is better to endure for time slight
inconveniences and inequalities In some
schedules than to upset business by too
quick and too radical changes. 1t is most
earnestly to be wished that We could treat
the tariff from the standpoint solely Of our
hope that partisanshlp may be entirely ex-
cluded from consideration of the subject
but at least It can be ma3e secondary TO
the business Interests OF the country-that
unquesuonably these business interests
will best be served II together with fyity
OF principle as regards the tariff we com
bine a system which will permit us from
time TO time TO make the necessary reap
plication Of the principle to the shifting ma
uonal needs, We must take scrupulous
care that the reapplication shall be made
In such way that 1t will not amount to
a dislocatlon, Of our system, the mere
threat or which mot TO speak OF the per-
formance) would produce paralysis in the
business energies OF the community. The
hrst consideration in making thes" charges
would, Of course, be to preserve the prin.
c!ple which. underies our whole tarlfY sys-
tem-that IL, the principle of putting Amer
lean business interests at least on a ful
equality. with Interests abroad. ard OF al.
WAYS allowing sufficient rate of duty to
more than cover the difference between The
labor cost here and abroad The well-be-
ing OF the worker, like the well-be-
Ing OF the tller Of the soil, should be treat
ed as an essential In shaping our whole
economic policy There must never be any
chahge winch VIII jeopardlze the standard
OF comfort, the standard Of wages OF the
American wage-workcr
one way In which the readjustment
sought can be reached is by reciprocity
such treaties may be adopted They can
be used to widen our markets and to
give greater field for the activities OF
our producers on the one hand. and on
the other to secure In practical shape the
lowering OF duties when they are no
longer needed for protection among our
own people or when the minimum of
damage done may be dlsregarded for the
sake OF the. maximum OF good accom-
tho pending treaties, and il there seem seem
to be no warrant for the endeavor TO
execute others, or TO amend the pending
treaties so that they can be ratified then
the same end-to secure reciprocity
should be met by direct legislation,
Need OF u Tariff CommlsmIon.
Wherever the tariff conditions are such
that needed change cannot with ad.
vantage be made by the application OF
the reciprocity idea, then IL can be made
outright by a lowering. of duties on a
given product, II possible, such change
should be made only after the fullest
consideration by practical experts, who
should approach the subject from busi-
ness standpoint, having In view both the
particular interests affected and the COM
mercal wcll.bcng OF the people AZ
careful investigation can readily be sup
piled, The executive department has al
ready at Its disposal methods OF collect
Ing facts and figures. and the con-
grcss desires additional consideration to
that which viii be given the subject by
It's own committees then u commission
OF business experts can be appointed
whose duty II should be to recommend
action by the congress after n deliberate
and scientific examination OF the various
schedules hs they are affected by the
changed and changing condt tions, The
unhurred and unbiased report OF this
commission would show what changes
should be made in the various schedules,
aud how far these changes could 40
without also changing the great pros
pcrIty which lhls country lA now enjoy
Ing, or upsottlng rs hSod economic pol'
ley,
The cases In which the tarIrr can pro.
duco "a monopoly are so few as to con.
stitutc an inConsldCrablo factor IN the
question: but OF course II IN any case
II be found thnt given rate OF duty
does promote a monopoly which works
H. no protectlonlst would object to such
reduction OF the duty 'as would oqualizo
competition,
In my Judgment the tariff on anthra.
cite coal should be removed and anlhra'
cite put actually where i now X nom
inally, on the free list This would have
no effect at all save IN crises, but IN
crises II might be OF service to the pco-
pie,
Needed Financial LEGISLATION,
Interest rates are q potent factor In
business activity and IN order tha; these
Ing needs OF the seasons and of widely
separated communities, ANA 20 prevent
the recurrence OF financial strlngcnclcs
which lniurlousy affect legitimate busl-
resa, 1t II necessary that there should be
an element OF elasticity IN our monetary
system. Banks are the natural servants
OF commerce, ANA upon them should be
placed, Ns far W practicable, the burden
OF furnishing aud maintaining clrCu.
l0tlon adequate 10 supply the needs OF
our diversified Industries ana Of our do.
nestle and foreign commerco and the
Issue OF this should be ~ regulated that
n sufficient supply should he always
available for the business interests OF
the country,
II would be both unwsc ana unnccos.
sary at this time 10 attempt 10 rocon'
Ntruct our financial system, which has
been the growth OF u century, but some
additional legislation In ! think, desrs
able, The mere outline 0t any plan SUM
olcntly comprehensive to meet these fea
quirementa would tfansgfess the appros
priate limits Of this communication II
is suggested, however that all future
leglsln ton on the subject should be with
the view Of encouraging the use Of such
instrumentaltles as Will automatically
supply every legitimate demand OF proc
duc;lvc industries and OF commerce, not
only In the amount, but In the charn c,er
OF circulation and OF making all Kinds OF
money interchangeable, and, nt the Will
OF the holder, convertible into the estab.
llshod gold standard,
Tits. LAn0N PROBLEM.