The Yale expositor. (Yale, St. Clair County, Mich.) 1894-current, 1902-12-12

For Reciprocity Treaties.
ono WAY in which tho rcadlustment
sought can be reached IL by reciprocity
treaties. 10 Is greatly 20 be desired that
such treaties may bo adopted. They can
DO used TO widen our markets ana %
give a greuter ncid FOR the activities Of
our producers on the one hand. and on
the other 90 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
damage done may be dlsregarded for the
sake OF the maximum OF good accom-
pllshed. II Il prove impossible 20 ratty
The pending treaties. and II there seem
20 be no warrant for tho endeavor 10
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.
For Expert Tariff Commission.
Wherever the tariff conditions are such
that needed change cannot with adj
vantage bc made hy the application OF
the reciprocity idea. then 10 can Doe made
outright by lowering OF duties on
given product. ~ possible. such change
should be- made only after the fullest
consideration hy practical experts VINO
should approach the subject from
business standpoint. having IN view hoth
the particular interests affected and the
comm NNaMI MfIlHWfIWk OF TIC l'NNi'H ~
a whole. The machinery for providing
such careful Investigation can readily be
supplied Tho executive department has
already az It's disposal methods OF col
Letting facts and figures. and " the con-
gress desires additional consideration 10
that which will be given the subject by
its own committees. then commission
OF business experts can be appointed
whose duty IL should be 10 recommend
action by the Congress after deliberate
and scientific examination OF tho various
schedules as they are affected by the
changed and changing conditions. Inc
unhurrled and unbiased report or TINS
commission would show what changes
should be made Ia the various schedules.
and how far these changes could go
without also changing the great pros
perity which this country Is now enjoy
ing. or upsctting It's fixed economic pol
ICY
Tho cases IN which the tariff can pro-
duce "A monopoly are sn few as 90 con-
stitutr aa lucousidcrahic factor In the
question. hut ~ course N In any case
10 bc found THAI q given rate OF duty
docs promote monopoly which works
900. no protcciinuist would object 10 such
reduction OF tho duty as would equal'<e
competition.
ln my Judgment the tarln on anthra-
cite coal should Doe removed and 1nthra-
cIte put actually. whore ~ now u nom
uu.Iy. on the free list. This would nave
Uo eject al an save in crises; but 90
crises IL might be OF service O. the poo
pie.
Monetary Legislation.
Interest rates are % potent factor In
business activity. and iu order that these
rates may bee cquallzrl 90 meet the vary
ing needs OF the seasons and OF widely
separated communities. and To prevent
tho recurrence of financial stringeucics
which injuriously aftect legitimate hnsl-
ness Il is necessary that there should
bo an element OF elasticity In our none
tary system. Banks are the natural ser
wants Of commerce. and upon them should
/ be placed as far as practicable. the
burden % furnishing and maintaining q
circulation adequate 10 supply the needs
| OF our diversified industries and OF our
domestic and foreign commerce; ana
tho Issue OF this should be 50 regulated
that a sufficient supply should DO al
Oays available for the business interests
/ Of tho country.
IL would be both unwise and unneces-
sary az this time 90 attempt % recon
struct our financial system. which mas
/ been tho growth % century; lux some
| additional legislation Is. / thlnk, d'Hlt
able The mere outline OK any plan sum
| GENTLY comprehensive 60 meet these re-
/ uulremcnts would trunsgress tho appEo-
prlate limits OF this communication. IL
| is suggested. however. that an fuiuF'
/ Legislation ou the subject should De WIN
an. Wow uf encouraging tho use % such
/ urtruupntAlitiss us Will Automatically
/ supply every legitimate demand ot pro.
/ dur,lyr Industries aTi OF commerce no.
only in the amount. nat Boz tho character
! az circulation. and of making an KINDS
| lf money interchangeable. ana, AT th'
\ san ,f the holder. convertible into III,
! established gold standard.