The Dolores star., 1902-12-05
Should Have a Stable Tariff.

] S.lOuiu EtdsC u okiAtC
Stability of economic policy must al
ways be the prime economic need OF
this country This stability should not
be fossilization The country has ac-
| quiesced in the wisdom of the protec'
tive tariff principle. 1t is exceedingly
undesirable that this system should be
destroyed or that there should be vio-
lent and radical changes therein. Our
past experience shows that great pros
perity in this country has always come
under a protective tariff. and that the
country cannot prosper under fitful
tarin changes at short intervals.
Moreover, If the tariff laws as whole
work well. and If business has pros
pered under them and is prospering.
IL is better to endure for a time slight
inconveniencesa and inequalities in some
schedules than to upset business by
too quick and too radical changes.
Unquestionably these business inter-
ests will be served If together with fix
ity of principle as regards the tariff we
combine system which will permit us
from time to time to make necessary
reapplication of the principle to the
shifting national needs. We must take
scrupulous care that the reapplication
shall be made in such a way that 1t
Will not amount to a dislocation of our
system. the mere threat of which tnot
to speak of the performance) would
produce paralysis in the business ener-
gies of the community. The first con-
sideration in making these changes
would. of course, be to preserve the
principle which underlies our whole
tariff system-that is. the principle of
putting American business interests at
least on a full equality with interests
abroad. and of always allowing a suf-
ficient rate of duty to more than cover
the difference between the labor cost
here and abroad The well being OF
the wage-workers, like the well being
of the tiller of the soil. should be treat
ed as an essential in shaping our
whole economic policy. There must
never be any change which will jeo-
pardize the standard of comfort. the
standard of wages of the American
wageworker.
One way in which the readjustment
sought can be deached is by reciprocity
treaties. 1t is greatly to be desired
that such treaties may be adopted and
to give greater field for the activi-
ties of our producers on the one hand.
and on the other hand to secure in
piattltdl SHAPE iHt loWt
when they are no longer needed for
protection among our own people. or
when the minimum of damage done
may be disregarded for the sake of the
maximum of good accomplished. If it
prove impossible to ratify the pending
treaties, and if there seem to be no
warrant for the endeavor to execute
others, or to amend the pending treat
ipS GO that thnv no ratified then
the same end-to secure reciprocity
should be met by direct Legislation
The executive department has al
ready at its disposal methods of col
lecting facts and figures; and if the
Congress desires additional considera-
! ton to that which win be given the
subject by lbs own committees. then a
commission of business experts can be
appointed whose duty it should be to
recommend action by the Congress
after a deliberate and scientific exam
ination of the various schedules as
they are affected by the changed and
changing conditions
Currency and Gold Standard.
| Interest rates are a potent factor
in business activity. and in order that
| these rates may be equaliZed to meet
the varying needs of the seasons and
/ of widely separated communities, and
/ to prevent the recurrence of financial
/ stringencies which injuriously affect
legitimate business, it is necessary that
/ there should be an element of elasticity
! in our monetary system.
| The mere outline of any plan suffl-
! ciently comprehensive to meet these
requirements would transgress the ap-
| propriate limits of this communica-
| ton 1t is suggested, however. thai
all future legislation on this subject
should be with the view of encouraging
the use of such instrumentalities as
will automatically supply every legiti-
mate demand of productive industries
and OF commerce, not only in the
amount, but in the character of circu.
lation; and of making all kinds Of
money interchangeable, and, at the
will of the holder convertible into the
established gold standard.
immigration Law Needed.
| again call your attention to the
need of passing proper immigration
law, covering the points outlined in my
message to you at the first session Of
the present Congress; substantially
such bill has already passed the
house.
Labor and Capital.
How to secure fair treatment alike
for labor and for capital. how to hold
in check the INSCRIPTIONS man
whether employer or employe, with
out weakening individual initiative
without hampering and cramping the
industrial development of the country
is problem fraught with great diff
culties and one which it is of the high
est importance to solve on lines OF
sanity and far-sighted common sense
as well as of devotion to the right
This is an era Of federation and com
bination. Exactly as business mer
find they must often work through cor
porations. and as it is constant ten
dency of these corporations to grow
larger, so 1t is often necessary fol
laboring men to work in declarations
and these have become important fac