The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1902-12-05

in this country has always come under
a protective tariff; and that the
can not prosper under ftful tariff
changes at short intervals. Moreover,
if the tariff laws as a whole work well.
n il business has prospered under
them and is proSpering, it is better to
endure for a time slight inconvenience
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
business needs. 1t is, perhaps, too
much TO hope that partisanship may
be entirely excluded from consideration
of the subject, but at least it can be
made secondary to the business inter-
ests Of the country-that is, to the in
terests of our people as a whole. I'm
questiOnably these business interests
will best be served if together with fix
lty OF principle as regards the tariff we
combine a system which will permit US
from time to time to make the neces-
sary reapplicatiOn of the principle to
the shifting national needs. We must
take scrupulous care that the reappli-
cation shall be made in such a way that
1t Will not amount to a dislocation of
our system, the mere threat of which
mot to speak of the performancD
would produce paralysis in the business
energies Of the community. The first
consideration in making these changes
would. of course. be to preserve the
principle which underlies our whole tar
if ~system-that is, the principle of put
ting American business interests at
least on a full equality with interests
abroad. n of always allowing a suffi-
cient rate of duty to more than cover
the difference between the labor cost
here and abroad. The w~ell-being of the
wage-worker, like the well-being of the
tiller of the soil, should be treated as
an essential in shaping our whole %
nomic policy. There lust never be any
change which will j~eoDardize the STAN
dard Of comfort. the standard of wages
of the American waG,-worker.
Recipr lily.
One way in which the readjustment
sought can be reached is by reciprocity
treaties. 1t is greatly to be desired that
such treaties may be adopted. They
can be used to widen our markets ana
to give a greater field for the activities
of our producers on the one hand, and
on the other land to secure in practical
shape the lowering of duties when hey
are no longer needed for protection
among our own people, or when the
minimum of damage done may be dis
regarded for the sake of the maximum
u SoOA ~~SOA IL = pLONS ALL
possible to ratify the pending treaties,
n if there seem to be no warrant for
the endeayor to execute others, or 20
amend the pending treaties so that they
can be ratified, then the same end-to
secure reciprocity-should be met by
direct legislation.
A Tariff Commission.
Wherever the tariff conditions are
such that u needed change can not with
] Cd Or. hn ,aoIN hu tho n~n1i4n+.0.
of the reciprocity idea, then it can be
made outright by a lowering of duties
on a given product. If possible, Such
change should be made only after the
fullest consideration by practical eX-
perts, who should approach the subject
from a business standpoint, having in
view both the particular interests at
fected and the commercial well-being
of the people as a whole. The mach in
cry for providing such careful inveSti
cation a readily be supplied. The eX-
ecutive department has already at it's
disposal methods of collecting facts and
figures; and if the congress desires ad-
ditional consideration to that wh;cA VII
be given the subject by its own com
mittees, then a commission of business
experts al be appointed whose duty il
should be to recommend action by the
congress after a deliberate and scientific
examination of the various schedules as
they are affected by the changed and
changing conditions. The unhuTriej
and unbiased report OF this commission
would show what changes should DC
made in the various schedules, ard O
far these changes could go withC1t also
changing the great prosperity which
this country is now enjoying, or upset
ting it's fixed economic policy.
The cases in which the tariff can pro
duce a monopoly are so few as to con
stitute an inconsiderable factor in the
question; but of course if in any case II
be found that a given rate of duty does
promote a monopoly which works i'll, NJ
protectionist would object to such re-
duction of the duty as would equalizt
competition.
In my judgment, the tariff on anthra
cite coal should be removed, and an,
thracite put actually, where it now i:
noTninally, on the free list. This would
have no effect at all save in crises; bu'
in crises it might be of service to tn
people.
More Elastic Currency Needed
Interest rates are a potent factor il
business activity, and in order tina
these rates may be equaliZed to me-
the yarylng needs OF the seasons and o
widely separated communities, and [.
prevent the recurrence of financia
stringencies which injuriously affec
'-SAAAN-Sp 49, - -NNoSo Via
there should De an element of elasticit,
in our monetary system. Banks are tn,
natural servants Of commerce, and upoI
them should be placed as far as prac
ticable the burden of furnishing ant
maintaining a circulation adequate t
supply the needs of our diversified in
dustries and of our domestic and for
eign commerce.; and the issue of thi
should be so regulated that a sufficien
supply should be always available 70
the business interests of the country.
1t would be both unwise and unneces
sary al this time to attempt to recon
struct our financial system. which ha
beer the growth of a century; but som
additional legislation is, / think. desir
able. The mere outline OF any plal
sufficiently comprehensive to meet thes
requirements would transgress the az
propriate limits of this communication
1t is suggested, however, that all futur
legislation on the subject should be wit
the view of encouraging the use Of sue
instrumentalities as will a~utomaticall.
supply every legitimate demand Of pro
ductive industries and OF commerce. no
only in the amount, but in the characte