The Somerset reporter., 1902-12-04

and requirements operating directly upon
such commerce. the instrumentalities
/ earnestly recommend this subject to the
consideration of the congress with a view
to the passage of law reasonable in its
provisions and effective in It's operations,
upon which the questions can be finally
adtudicated that now raise doubts as to
the necessity of constitutional amend
ment. II ii prove impossible to accom-
plish the purposes above set forth by such
. law. then assuredly we should not
as as 't to secure oali d beyond pc peradyenture the he
power sought.
The congress has not heretofore made
any appropriation for the better enforce
ment OF the antitrust law as 1t now
stands. Very much has been done by the
% Ct Justice in securing the en-
could be done II congress would make q
special appropriation for this purpose. to
be expended under the direction of the
One proposition advocated has been the
reduction of the tariff as a means Of
Not H merely ely would this be wholly ineffee- Iee:
such such S't a direction rec would mean the aban- m
donment of all intelligent attempt to do
away with these evils Many of the lar
should certainly be Included In any proper
scheme Of regulation. would not be af-
ffected in the slightest degree by change
country. The only relation of the tariff
tariff makes manufactures profitabie, and
the tariff remedy proposed would be in
effect simply to make manufactures un-
punitive measure directed against trusts
/ would inevitably result In ruin to the
weaker competitors who ,ar5, are struggling S
u.lwise tariff changes to give foreign prod
/ ucts the advantage over domestic prod
ucts. but by proper regulation to give do
: meSttC cnAnCe.
this end cannot be reached by any tariff
changes which would affect unfavorably
alike. The question of regulation of the
! trusts stands apart from the question OF
j tariff revision
Stability of economic policy must all
ways be the prime economic need of this
country. This stability should not be fos-
81 b. sdon Tae SS phe aos tsr
principle. 1t Is exceedingly undesirable
+ that this system should be destroyed or
changes therein. our past experience
shows that great prosperity in this coun-
try has always come under aprotective tar
tff and that the country cannot prosper
under ftful tariff changes at short inter-
walls. Moreover II the tarif laws Ae a
pered under them and Is prospering. 1t is
better to endure for a time slight incon-
veniences and inequalities In some sched-
and too radical changes 1t is most ear
nestly 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
country-that is, to the interests of our
people as a whole Unquestionably these
together with fxity of principle AS re-
CARDS the tariff we combine a system
which will permit us from time to time to
make the necessary reappiication OF tha
principle to the shifting national needs
We must take scrupulous care that the
reapplication shall be made in such a way
that Ii will not amount to a dislocation of
our system. the mere threat Of which. not
to speak of the performance, would pro-
Of the community. The first considera-
ton In making these changes would, of
course; be to preserve the principle which
the principle of putting American bust
ness interests at least on full equality
with interests abroad and of always al
than cover the difference between the
labor cost here and abroad. The well be
ing of the tiler of the soil, should be
treated as an essential in shaping our
h9e bS pqSy viii qd
standard of comfort, the standard of
wages. of the American wageworker.
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
a greater field for the activities of our
producers the one hand and on the
other hand 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 dam
age done may be disregarded for the sake
of the maximum of good accomplished
If 1t prove impossible to ratify the pend
Ing treaties and If there seem to be no
warrant for the endeavor to execute 9TH
ers 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.
; Wherever the tariff conditions are such
that a needed change cannot with adVan-
tage be made by the application OF the
reciprocity idea. then it can be made out
right by a lowering of duties on a given
product II possible, such change should
be made only after the fullest considera-
tion by practical experts, who should ap-
pToach the subject from a business stand
point having in view both the particular
interests affected and the commercial well
being of the people as whole. The ma
chinery for providing such careful inVes-
tigation can readily be supplied. The eX-
ecutive department has already at its
disposal methods of collecting facts and
figures. and If the congress desires addt-
tional consideration to that w.ich Will be
given the subject by its ow committees.
then commission of busin - experts can
be appointed whose duty 1t should be to
recommend action by the congress after
| deliberate and scientific cXaminttun of
by the changed and changing conditions.
The unhurried and unbiased report of this
commission would show what changes
should be made in the various schedules
and how far these changes could go with
out also changing the great prosperity
which this country Is now enjoying or
upsetting Its fixed economic policy
] The cases in which the tariff can pro
| duce a monopoly are so few as to consti-
tute an inconsiderable factor in the ques-
ton but, of course, II in any case 1t be
found that given rate of duty does pro-
mote monopoly which works ILL., no pro
| tectionist would object to such reduction
of the duty as would equalize competition.
In my judgment. the tarin on anthracite
coal should be removed and anthracite
put actually. where 1t now Is nominaliy.
on the free list This would have no effect
! at all save In crises; but in crises II might
be OF service to the people
! Interest rates are potent factor in
business activity and in order that these
rates may be equnliZed to meet the vary
ing needs of the seasons and Of widely
separated communities. and 10 prevent the
recurrence OF financial stringencies which
I injuriousy affect legitimate business, II
is necessary that there should be an ele-
ment OF elasticity In our monetary sYs-
tenn. Banks are the natural servants or
! commerce. and upon them should he
| placed. as far as practicable. the burden
| of furnishing aud maintaining a ctrcula-
| tion adequate To supply the needs of our
| diversified Industries and OF our domestic
| and foreign commerce, and the issue OF
this should be regulated that suff1
! cient supply should be always availa BILE
| for the business interests Of the country.
1t would be both unwise and unneces-
sary at this time to attempt to recon
struct our financia system, which has
been the growth Of a century, but some
additional legislation is. ] think, desrabl
| The mere outline OF any plan sufficiently
comprehensive to meet these rcQuireme n IS