River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1902-12-04
THE TARIFF.
1t Is Subject That stands Apart from
the Trusts.

the Trusts.
One proposition advocated has been the
reduction of the tariff a 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
tainly be included in any proper scheme of
regulation, would not be affected in the
slightest degree by a change in the tariff,
general prosperity of the country. The
only relation of the tariff to big corpora
lions 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
directed against trusts would inevitably re-
suit in ruin to the weaker compel itors 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-
ton to give domestic competition a fair
chance; and this end cannot be reached by
any tariff changes which would affect I'M
favorably all domestic competitors, good
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 fossilization.
The country has acquiesced in the wisdom
of the protective-tariff principle. 1t is ex-
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
a protective tariff; and that the country
cannot prosper under fitful tariff changes
at short intervals. Moreover if the tariff
laws as a whole work Wen ana if hnsinese
has prospered under them and is prosper
ing, it is. better to endure for a time slight
Inconvenience anG 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 ex-
Guided from consideration of the subject,
but at least it can be made secondary to
the business interests of the country-that
is, to the interests Of our people as whole
will best be served II together with tixity
of principle as regards the tariff we com
bine a system which will permit US from
time to time to make the necessary reap
plea ton Of the principle to the shifting ma
tional needs. We must take scrupulous
care that the reappMcation shall be made
in such a way that it will not amount to
a dislocation of our system, the mere
threat of which mot to speak of the per
business energies of the community. The
first consideration in making these changes
would, of course, be to preserve the prin-
ciple which underies our whole tariff sys-
tem-that is, the principle of putting Amer
lean business interests at least on a full
equality, with interests ABROAD and of al
more than cover the difference between The
TABOR cost here and abroad The well-be-
ing Of the wage worker, like the well-be-
ing of the tiller of the SOIL should pc treat
eG as an essential in shaping our whole
economic policy. There must never be any
change which will jeopardize the standard
of comfort, the standard of wages of the
American wage-worker.
One way in which the readjustment
sought can be reached is by reciprocity
treaties. It is greatly to be desired that
such treaties may be adopted. They can
be used to widen our markets and to
give a 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
own people, or when the minimum of
damage done may be disregarded for the
sake of the maximum of good accom-
plished. If it prove impossible to ratify
the pending treaties, and if there seem
to be no warrant for the endeavor to
treaties so that they can be ratified then
the same end-to secure reciprocity
should be met by direct legislation.
Need of Tariff Commission.
Wherever the tariff conditions are such
vantage be made by the application of
the reciprocity idea, then it can be made
outright by lowering. of duties on a
given product If possible, such change
should be made only after the fullest
consideration by practical experts, who
should approach the subject from a bust
particular interests affected and the COM
mercial well-being of the people as a
whole. The machinery for providing such
careful investigation can readily be sup
piled. The executive department has al
ready at its disposal methods of collect
ing facts and figures; and if the con-
gress desires additional consideration to
that which will be given the subject by
it's own committees, then a commission
whose duty it 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
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
without also changing the great pros
perity which this country is now enjoy
ing, or upsetting its fixed economic pol
icy.
The cases in which the tariff can pro-
duce monopoly are so few as to con-
stitute an inconsiderable factor in the
question; but of course if in any case
1t be found that given rate of duty
d9eS on0pGy h Mfh VOTES
reduction of the duty as would equalize
competition.
In my Judgment the tariff on anthra-
cite coal should be removed, and anthra-
cite put actually where it now is nom
inally, on the free list This would have
no effect at al save in crises; but in
crises it might be of service to the peo-
pie.
Needed Financial Legislation.
Interest rates are a potent factor in
business activity, and in order that these
rates may be equaliZed to meet the vary
ing needs of the seasons and of widely
separated communities, and to prevent
the recurrence of financial StringencieS
which injuriously affect legitimate bust
ness, it is necessary that there should be
an element of elasticity in our monetary
system. Banks are the natural servants
of commerce. and upon them should be
placed, far as practicable, the burden
of furnishing and maintaining a circu-
lation adequate to supply the needs of
our diversified industries and of our do
nestle and foreign commerce; and the
issue of this should be so regulated that
available for the business interests of
the country
1t would be both unwise and unneces-
sary at this time to attempt to recon-
struct our financial system. which has
been the growth of a century; but some
additional legislation is l think, desir-
able. The mere outline of any plan Suffi-
GENTLY comprehensive to meet these re-
quirementS would transgreSs the appro-
pirate limits of this communication 1t
is suggested, however, that all future
legiSla ton on the subject should be with
the view of encouraging the use of such
instrumentalities as will automatically
supply every legitimate demand of pro-
only in the amount, but in the character
of circulation; and of making all kinds of
money interchangeable. and. at the viii
OF the holder. convertible into the eStab-
lished gold standard