Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1902-12-04


competition, fraudulent overcapitalization
and other evils in trust organizations and
practices which injuriously affect inter
/ state trade can be prevented under the
! power of the congress to regulate com
! merce with foreign nations and among the
| several states" through regulations and re
quirements operating directly. upon such
commerce, the instrumentalties thereof
and those engaged therein.
| earnestly recommend this subject to the
consideration of the congress with a view
provisions and effective in its operations
upon which the questions can be finally
adjudicated that now raise doubts tC
! the necessity of constitutional amendment
| If it prove impossible to accomplish the
| purposes above set forth by such a law
| then, assuredly, we should not shrink from
! amending the constitution so to secure
/ beyond peradventure the power sought.
NO TARIFF REMOVAL.
One proposition advocated has been the
/ reduction of the tariff 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 a
all intelligent attempt to do away Win
! these evils. Many of the largest corpora
! tions, many of those which should certain
reg D T Would not be b'p AFFECTED in the
! slightest degree by a change in the tariff,
! save as such change interfered with 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 sim
ply to make manufactures Improbable:
/ To remove the tariff as a punitive meas
ure directed aga inst trusts would newt
! ably result 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 ad-
! vantage over domestic products, but by
! ~ Hat
! titiOn a fair chance: and this end can not
be reached by any tariff changes which
! petitors, good and bad alike The question
of regulation of the trusts stands apart
from the question of tariff revision.
Stability of economic policy must always
try This stability should not be FOSSIL
zatiOn. The country has acquiesced in the
wisdom of the protective-tarif principle
! 1t is exceedingly undesirable that this sys-
TEN should be destroyed or that there
should be violent and radical changes there
in Our past experience shows that great
prosperity in this country has always
come under a protective tariff; and that
the country can not prosper under ftfuI
over if the tariff laws as a whole work
well, and if business has prOspered under
them and is prospecting. it is better to en-
dure for Il time slight Inconvenience and
inequalities in some schedules than to up
set business by too quick and too radical
changes. 1t is most earnestly to be wished
lnaJ we could treat the tariff from the
standpoint solely of our business needs. 1t
is, perhaps, too much to hope that part;
sanship may be entirely excluded from
consideration of the subject, but at least
it can be made secondary to the business
interests of the cOuntry-that is, to the in
terests of our people a whole. Unques-
tionably these business interests will best
be served if together with fiXity of prin-
ciple regards the tariff combine
system which will permit us from time to
time to make the necessary reapplcation
of nIIn InIn n 40
needs We must take ScrupulOuS care that
the reappicatiOn shall be made in such
way that it will not amount to a disloca-
ton of our system. the mere threat of
which (nOt to speak of the performance
would produce paralysis in the business en-
ergies of the community. The first conSid-
Grafton 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 full equality with
interests abroad. and of always allowing
Il sufficient rate of duty TO more than cover
the difference between the labor cost here
and abroad. The we'll being of the wage
worker. like the we'll being of the tiIer of
the soil should be treated as an essential
in shaping our whole economic policy.
! There must never be any change which
will jeOpardze the standard of comfort.
the standard of wages of the American
wa ge- worker.
One way in which the reimbursement
sought can be reached is by reciprocity
treaties.
Wherever the tariff conditions are such
that needed change can not with advant-
age 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. If possible such change should be
made only after the fullest consideration
nv practical experts, who should approach
the subject from a business standpoint
having in view both the particular inter
ests affected and the commercial well-being
of the people as a whole. The machinery
for providing such careful investigation
% cd NIn
partment has already at it's disposal meth
DDS of collecting facts and figures: and if
ton TO that which will be given the sub
/ ject by its own committees then Il COM
| mission of business experts can he ap-
! pointed whose duty it should he to recon-
! mend action by the congress after a DELHI
/ crate ana scientific examination of the vari-
! Gus schedules they are affected by the
! changed and changing conditions The I'M
| hurried and unbiased report of this COM
! mission would show what changes should
| be made in the various schedules and how
far these changes could 90 without also
! changing the great prosperity which this
| country is now enjoying. or upsetting its
| fixed economic policy
The cases in which the tariff can produce
| 4 mononoIy are so few to constitute an
| tnconSiderahe factor in the Question: but
| OF course If in any case It he found that
given rate of duty does promote \ mOnon-
| DIV which works i'll. no prOtcctiOniSt would
! object to such reduction of the duty as
| would eQualiZc competition
FREE COAL.
| In my Judgment. the tariff on anthracite
! coal should he removed. and anthracite put
! actually, where it now is nominally, on the
! rree iSt. This would have no effect IT all
! save in crises; but in crises it might be of
service to the people.
AN AUTOMATIC CURRENCY.
| Interest rates are a potent factor in bust
| ness activity and in order that these rates
may be .Gdualized to meet the varying
! needs OF the seasons and of widely Sepa-
1 rated communities. and TO prevent the re.
! currcnce of financial Stringencies which in.
| juriouSv affect Legitimate business. it is
necessary that there should be an element
Of elasticity in our monetary system
Banks are the natural servants of com
MERGE. and upon them should be placed, rs
far rs practicable. the burden of furnish
ing and maintaining circulation ADEQUATE
! TO supply the needs of our diversified in
duStrteS and of our domestic and fOreig'
commerce.: and the issue of this should he
: SO regulated that n sufficient supply should
be ALWAYS available for the business inter
eStS of the country
: I would he both unwise and unnecessary
ut this time to attemnt to reconstruct orr
financsal system. which has been thu
, growth Of Il century: hut some additional
, legislation is. l think Desirable The me~t
ont'in" Of any plan sufficiently comprehen
Siv" to meet these rouuirementS woulC
transCresS the annrOpriatp limits of thi,
communication. It is suggested however
tha+ oil future legislation on the Suhioc
should he with the view Of cncOrra cling I'll,
rs" Of such instrumCntalitinS rs will auto
no tica Nv Srrpr1v ev"rv Legitimate dOrnant
= Nf ,rr0ductivo industries and IF onr1marcp
= no. only ~ tho arnorrt hrt IN +he oro ~ q
t", Of circulation. and Of making all kind
: of ,nonov ;rte~chan ~nah1n and - tho vii
Of Tho h"1dor convertible into tho estar
| Iie',oH cola +orr1nr1
~tDTTtT tND APOR
g How to secure fair treatment alike TO
l labor and for capital. how to hold i
check the INSCRIPTIONS man. whether EN-