Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1902-12-04
THE TARIFF.
ills Subject That stands Apart from
the Trusts.

-
It'Is a Subject That stands Apart from
the Trusts.
One proposition advocated has been the
reduction of the tariff as 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 a
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,
save as such change interfered with the
only relation of the tariff to big corpora
tons 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
remove the tariff as a punitive measure
directed against trusts would inevitably re-
suit in ruin to the weaker competitors 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-
chance; and this end cannot be reached by
any tariff changes which would affect un-
favorably all domestic competitors, good
and bad alike. The question Of regulation
of the trusts stands apart from the ques-
ton of tariff revision.
Stability of economic policy must always
be the prime economic need of this country.
This stability should rot be fossilization.
The country has acqulesced in the wisdom
of the protective-tariff principle. 1t is ex-
cee6ingly undesirable that this system
should be destroyed or that there should be
violent and radical changes therein Our
past experience shows that great prosper
iy in this country has always come under
a protective tariff; and that the country
at short intervals. Moreover, if the tariff
laws as a whole work well, and If business
has prospered under them and is prosper
ing, it is better to endure for a time slight
inconvenience and 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
business needs. 1t Is, perhaps, too much to
hope that partisanship may be entirely ex-
GUIDED from consideration of the subject,
but at least 1t can be made secondary 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 If together with fixit1
bine a system which will permit us from
time to time to make the necessary reap
pIlliGation Of the principle to the shifting ma
monai aeeG b we must taks scrupulous
In such a way that it will not amount to
a, dlslocatlon, OF our system, the mere
threat of which mot TO speak of the per-
f~ormance) would produce paralysis in the
business energies of the community. The
first consideration in making these changes
would, Of course, be to preserve the prin-
clpIe which uGderlies 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
ways allowing a sufficient rate of duty to
more than cover the difference between The
labor cost here and abroad. The well-be-
ing of the wage-worker,. like the well-be-
Ing of the tiller of the soil, should be treat
ed as an essential in shaping our whole
economic nnIlHV TharG nI1Ct pnulr he an,.
change which will jeopardize the standard
of comfort, the standard of wages of the
American Wage-worker.
ON way in which the reimbursement
sought can be reached is by reciprocity
treaties. 1t 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
to be no warrant for the endeavor to
execute others, or to amend the pending
treaties so that they can be ratified, then
the same end-to secure reciprocity
should be met by direct legislation.
Need of a Tariff Commission.
Wherever the tariff conditions are such
that a needed change n n with ad-
vantage be made by the application of
the reciprocity idea, then it can be made
outright by a 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
ness standpoint, having in view both the
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
its own committees, then a commission
Of business experts can be appointed
whose duty it should be to recommend
action by the congress after a deliberate
5 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 81
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
e duce a monopoly are so few as to con
/ stitute an inconsiderable factor in tn
question; but of course If in any cas-
: 1t be found that a given rate of dut.
does promote a monopoly which work
i'll, no protectionist would object to sucl
O reduction of the duty as would equaliz
competition.
e In my judgment, the tariff on anthra
cite coal should be removed, and anthra
t cite put actually, where 1t now Is nom
e inally, on the free list. This would hav
no effect at all save in crises; but i
crises it might be of service to the PEG
S pie.
: Needed Financial Legislation.
+ Interest rates are a potent factor /
4 business activity, and in order that thes
ing needs Of the seasons and of widel
separated communities, and to proven
v the recurrence of financial stringencie
t which injuriously affect legitimate bus
W an element of elasticity in our monetar
n system. Banks are the natural servant
OF commerce, and upon them should b
lie placed, as far as practicable, the burde
,e Of furnishing and maintaining a circt
d lation adequate to supply the needs {
E. our diversified industries n of our d.
nestle and foreign commerce; ana II
! ISSUE setf Ss ahts s snoala p sbo so fes Se aIw va,
IS available for the business interests
e the country.
Is It would be both unwise and unnece
Of sary at this. time to attempt to recol
Mt struct our financial system, which h,
le been the growth Of a century: but son
at additional legislation Is, I think, desi
s. able. The mere outline OF any plan sur
al GENTLY comprehensive to meet these r
Id quirements would transgress the Apr
pirate limits Of this communication.
s Is suggested, however, that all futu
lie legislation on the subject should be wi
7, the. view Of encouraging, the use Of su.
I'd instrumentalities as will automatical
r supply every legitimate demand Of pr
" ductive industries and of commerce., n
ce only in the amount, but in the charact
" OF circulation; and Of making all kinds
e. money interchangeable, and, at the W
81 of the holder, convertible into the esta
u, lished gold standard.