Richmond daily palladium. [volume] (Richmond, Ind.) 1876-1904, 1902-01-01
FAIR WEATHER FORESIGHT.
Needed Congregational Action ~
viewed In the Great Northwest.

Needed CONGREGATIONAL Action as
Viewed In the Great Northwest
The indications are that the senate
will refuse 10 ratify any OF the reci-
proeity treaties before ii and that moth
irg Will be done TO extend the markets
for our products in foreign countries.
as earnestly advised by the late presi-
dent ard by his successor; that nothing
will ne done to repeal or modify the
protective duties which have done their
work aud are no longer needed for
protective purposes: that nothing will
be done to take our currency out OF its
straitjacket of government bond Sc
curities and make its volume automat-
icaly adjustable TO the wants Of trade.
Whatever else may be done. IL seems
to be the general understanding that,
to use a common expression. there is to
be no tinkering with the tariff or the
currency. The country is prospecting.
they say, with the tariff ana the cur
rency as it is They have done very
well. Let well enough alone.
But it is precisely in times OF pros
perity that prudent business men pre-
pare to put their business on such a
shaken when storms come. The rail-
roads of the country have been daing
well and making large earnings with
heavy grades and light and cheap
rails and a cheap equipment OF cars
and locomotives But the wise and
farseeing business men in charge of
them have been and are taking ad-
vantage of the prosperous times to re-
6t1na their GRADES n lay hna yiQr raifa
and to so improve their equipment as
to greatly reduce the cost OF transpor-
tation and thus insure good earnings
for the roads even in hard times. They
are doing what all discreet business
men are doing. and what the govern
ment should do is to take advantage
of the present period of prosperity to
adopt such measures as will place that
prosperity on solid foundation so far
as it is affected by government policies.
and thus make it permanent.
The extension of the foreign mar
kets for our products is one of the
most imperative needs OF the country
The industrial activity of the country
is so enormous that our own markets
will soon be glutted with the excess OF
their products. Unless new fields OF
fast approaching that period Of over
production which means the shutting
up of factories or the reduction of their
labor forces and the throwing of many
thousands out Of employment. 1t is
an entirely sound principle that the
benefits Of reciprocity should not be
purchased at the sacrifice of the inter
ests of American industry. but it is a
hni ty FOIL ~ u
sion of that principle to say that reci-
procity should not be had when ii con
fiicts with the interests Of any Ameri-
can industry. There are some indus
tries which are not worth protection
and which are protected at the cost OF
all other industries. The opposition I'm
the senate to the ratification Of the
commercial treaties before that body
comes from the representatives OF
small industries which would not be
injured by the 20 per cent reduction OF
theis protective duties and which are
of but little account anyhow
Our currency is a fair weather cur.
rency. Its lack OF adapta biIity to the
business needs of the country In bust
ness emergencies contributed greatly
to aggravate the panic OF 1893 and the
0Fp'eHi With iofioWed IL III has
been put on the safe foundation of the
gold standard. 1t is a sound currency
so far as its stability is concerned. but
1t is not responsive to the wants Of
trade he time to make IL SO is now.
The man who won't mend his leak roof
In fair weather is likely to be sorry
when the rainstorm comes-St. Paul
Pioneer Press.
Water the Deserta