The Hawaiian gazette., 1902-12-12

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Ins con.r..s has NOT heretofore made
ans approximation ior che better enforce.
msnt 20 the antitrust law HH u..
stands Nerf Hurn has been done 't '..
department ~ Justice ln FeruflrE th' t..
fOrrrmrnt % this law. Tut much more
could Pc done u congress would make %
special appropriation for this purpose. 90
~ expended under the direction % the
Dup propos ION advocated has been the
reduction OF the tar.n as means u
reaching the evils OF the trusts which fan
within the category have described.
Not merely would this be wholly ineffec-
tive. but the diversion Of our Efforts Boo
such a direction would mean the abau-
dormont OF an intelligent attempt 10 do
away with these evils. Many Of the lar
Eest corporations, many Of those which
should certainly be Included Ia any proper
scheme Of regulation. would not be AZ
feCtcd In the slightest degree by "a change
iu the tariff, save as such change inter-
Tered with the general prosperity OF the
country. Inc only relation OF the tarllt
10 big corporations as whole Is mat the
tarin makes manufaC tures profitable. and
the tariff remedy proposed would be In
eject simply to make manufactures un-
profitable. To remove the tarin
punitive measure directed against trusts
would inevitably result In ruin TO the
weaker competitors who are struggling
against them. our aim should be not by
unwise tariff changes to give foreign prod
ucts the advantage over domestic prod
uCts. but by proper regulation to give do
mHEilr gOInDFfltlOn FAIR chance. ana
this end cannot he reached by any tariff
changes which would affect unfavorably
all domestic competitors. good and bad
alike The question Of regulation OF the
trusts stands apart from the question OF
tariff revision.
Stability OF economic policy must al
ways be the prime economic need of this
country. This stability should not be fos-
sllization. The country has acquiesced
principle IL Is exceedingly undesirable
that this system should be destroyed or
that there should be violent and radical
/ changes therein our past experience
shows that great prosperity In this Couu-
try has alWhS > come uhdcTa protective tar
im and that the country cannot prosper
under itful tariff changes at short inter
walls Moreover. II the tarin laws AS IA
whole work well and n business has pros
pcrcd under them and Is prospecting, IT Is
better 10 endur" Tor a time shEht lucou-
Vunioucos and inoqualltics IN some sshcI-
ules than to upset busluoFs by too quick
ana too radical changes. IT is mOst car
uestly to De- wished that we could treat
the tariff from the standpoint solely Uf
our business needs. IT Is, perhaps, too
much to hope that partisanship may be
entirely oNciud"d from confederation Of
the subject. but at least II can be made
secondary TO the business interests Of the
COuntry-that Is, to IN" interests Of our
people as whole. Internationally these
business interests will best be served II
together win nXity Of principle as re-
which viii permit US from time to time to
make the necessary r"applcauOn OF the
principle 10 the shifting national needs.
We must take scrupulOus care that the
rcapplCAtIun shall be made In such way
that II VIII not amount 10 a Glslocation OF
our system. the mere threat Of which. not
to speak Of the performance, would pro-
ducc paralysis in the business energies
of the community. The first consldcra-
ton in making these changes would OF
course, be 10 preserve the principle which
underios our whole tariff system-that is
the principle Of putting American bust
ness interests at least on full equality
with interests abroad and Of always al
lowing a sufficient rate OF duty to more
than cover the difference between the
Ing of the waBeworkcr. like the well be-
ing Of the tiller Of the soil should be
trratcd 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 wageworker.
ON" way in which the rcadjustmont
sought can be reached IL by reciprocity
treaties. II Is greatly 10 be desired that
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 hand 10 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 disrCRarded for the sake
| OF the maximum OF good accomplished
| II II prove impossible to ratify the pend
ing treaties and If there seem TO be no
| warrant for the cndoavOr to execute 9TH
| crs or to amend the pending treaties so
| that they can be ratified, then the same
end-to secure rccprocity-should be met
Wherever the tariff conditions are such
| that a needed change cannot with advan-
| tage be made by the application of the
| reciprocity idea. then 1t can be made out
| right by lowering Of duties on "A given
product If possible, such change should
| be made only after the fullest consdera-
| ton by practical experts who should APP
| proach the subject from business stand
| point. having In view both the particular
| interests affected and the commercial well
| being OF the people as whole. The ma
| chincry for providing such careful invcs-
| tgation can readily he supplied. The eN-
| ccutive department has already ut its
| disposal methods OF collecting facts and
| figures. and II the congress desires add
| tional consideration to that which will be
| given the subject by its own committees.
| then commission Of business experts can
! he appointed whose duty II should be 10
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 unhurriod and unbiased report Of this
| commission would show what changes
! should be mad" I'm the various schedules
and how far these changes could 20 with
! out also changing tho great prosperity
| which this country Is now enjoying OF
| upsctting it's uNrd economic policy
The cases in which the tariff can pro.
duCe n monopoly are So few as TO consti,
| tute an incousidorghlu factor in the Qucs,
! ton; but, of course, n In any case II hC
/ found that a given rate OF duty does pro
! mote monopoly which works ill no pro,
tcCtonist would object 10 such reduction
OF the duty as would r.ualiZc competition
In my judgment iae tariff ou anthracite
coal should Ice removed and unthraCit,
put actually, wher, IL now W. uumnally
on the free list This would have no cfiec
at all save In crises, hat in crises II might
be Of service 10 The people
interest rates are 20 potent factor II
business activity. and iU order that thts,
rates may be 'uUuIIl.I Co meet the vary
ing needs Of the seasons and Of widely
separated cummunitIus and to prevent IN,
recurrence of financial str.rErup',s which
. lulurlousy affect legitimate business 4
II necessary that tutT. should be am ele
mcut OF elasticity Boo our monetary sys
/ tenn Banks are tho natural servants o
, 2 commerce, and upon t'rm should b,
placed. far ITt.f|U.|..4 tI4 hurl.t