The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1902-12-03

upon which to- questions can be finally
adjudicated that now raise doubts as 70
the necessity Of constitutional amend
ment. If it prove impossible TO accom-
plish the purposes above set forth by such
& law, then assuredly We should not
shrink from amending the constitution so
as to secure beyond peradVenture the
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
department Of justice in securing the en-
forcement of this law. but much more
special appropriation for this purpose, to
be expended under the direction OF the
attorney general.
One proposition advocated has been the
reduction Of the tariff as d means OF
reaching the evils Of the trusts which fa!l
within the category. l ave oeScrloeo.
Not merely would this be wholly inefec-
tive. but the diversion Of our efforts IN
such a direction would mean the aoan-
donment of all intelligent attempt TO 40
away with these evils. Many, OF the lar
Should certainly be included in any proper
scheme Of regulation, would not be az
fected in the slightest degree by a change
in the tariff, save as such change inter
country. The only relation Of the tarlfI
to big corporations as q whole is tnat the
tariff makes manufactures prohtaple, ana
the tariff remedy proposed would be IN
effect simply to make manufactures un-
profitable. To remove the tariff as a
punitive measure directed against trusts
weaker competitors who are
against them. Our aim should be not by
unWise tariff changes to give foreign proc
ucts the advantage over aomestic pro- a.
nestle competition q fair chance, ana
this end cannot be reached by any tar3n
changes which would arec So6 u~pra avg baS
alike. The question of regulation OF the
trusts stands apart from the question OF
tariff revision.
ways be the prime economic need OF TINS
! country. This stability should not be fos,
silization. The country has acQuiesced
IN the wisdom Of the pr T S3aGes, Ial bie
that this system should be destroyed or
that there should be violent radlcaI
changes therein. Our past experience
try has always come undera protective tar
if and that the country cannot prosper
under ftful tariff changes at short inter
walls Moreover, If the tarln laws as
pered under them and IS prosperlng, IL is
better to endure for a time slight NEON
yenienees and inequalities in some scheG-
and too radical changes. 1t is most ear.
nestly to be wished that we could treaI
the tariff from the standpoint soIely OF
our business needs. 1t is. perhaps, roo
much to hope that p~artisanship may be
| entirely excluded from consideration IF
the subject, but at least 1t can De mace
condary to the business interests OF the
country-that is. to the interests OF our
people as a whole. Unquestionably these
business interests will best be served II
together with fxity Of principle as re-
which will permit us from time to time TO
make the necessary reappllcatlon OF tne
principle to tie shifting national needs:
we must take scrupulous care mat tne
reapplication shall be made in such a way
that it will not amount to a dlslocatlon OF
our system, the mere threat of WHICH, not
duce psralysis in the business energies
Of the community. The first considera.
ton in making these changes would, OF
course. be to preserve the principle when
~underlies our whole tariff ~system-that IS,
the principle Of putting American o4sl-
ness interests at least on a full eouaIlt;y
with inter ests abroad and OF always al
lowing a sufficient rate of duty to more
than cover the difference between the
labor cost here and abroad. The well be-
ing OF the wageworker, like the well be-
ing Of the tiller OF the IS, sou sDs snTuto ou nr
be any change Which will jeopardize the
Sta Pss' Of f H5 S aGmf9cs, t Wage SfonSa50 OF
One way in which the readjustment
sought can be reached is by reclproclty
treaties. 1t is greatly to be desired thar
such treaties may be adopted. They can
be used to widen our markets and to Civ
a greater field for the activities of our
producers on the one hand, ana on the
other and to secure in practical shape
the lowering of duties when they are no
longer needed for protection among our
W people or when the minimum OF dam
age done may be ~diSregarded for the sake
IF it prove Impossible to ratify the pend
ing treaties and if there seem to De no
warrant for the endeavor to execute otn-
ers or to amend the penang treatles 50
SLo& %Na1, cor hn 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. If possible, such change Shoulo
be made only after the fullest considera-
ton by practical experts, who should ap-
proach the subject from a business stand
point. having in view both the particular
interests affected and the commercial well
being Of the people as a whole. the ma
chinery for providing such careful lnves-
dgation can readily be supplied. The ex-
ecutive department has already at Its
disposal methods of collecting facts ALL
figures, and if the congress desires addi-
tional consideration to that which will be
given the subject by its own committees,
then a commission Of business experts can
be appointed whose duty It should be 10
recommend dClIOL ny S4!S SSA4S 80 N~N
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 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 it's fixed economic policy.
The cases in which the tariff can pro
duce a monopoly are so few as to consti-
tute an in~considerable factor in the Ques-
ton; but, Of course, if in any case it be
found that a given rate Of duty does pTo-
mote a monopoly which works III, no pro-
tectionist would object to such reduction
Of the duty as would e~qualize competition.
In my judgment, the tariff on anthracite
coal should be removed and antnraclte
put actually, where it now is nominally,
| 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 a potent factor Ii
business activity. and in order that these
! rates may be egualized to meet the vary
ing needs of the seasons and OF widely
separated communities, and to prevent the
recurrence of financial s~tringencles which
injuriously affect legitimate business, 1t
ment of elasticity in our monetary sys1
TEN. Banks are the natural servants or
n n upon them should De
placed, as far as practlcao!e' the puroen
Of furnishing and maintaining q circula-
ton adequate to supply the needs OF our
diversified industries and Of our domestic
and foreign commerce, and the issue OF
this should be so regulated that a suhi-
cient supply should be Away available
for the business interests Of the country.
It would be both unwise and unneces-
sary at this time to attempt 10 recon
struct our financial system. which has
been the growth of a century, but some
additional legislation is, l think, deslrao!e.
The mere outline Of any plan sufnclentIy