Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1902-12-02


/ forcement OF this law. but. much more
/ could be done IL congress would make q
special appropriation for this purpose 10 20
be expended under the direction OF the
one proposition advocated has been the
reduction of the tariff as means OF
within the category / have described.
/ Not merely would this be wholly ineffec-
! tive but the diversion OF our ef1orts IN
such a direction would mean the aDan-
donment of ali intelligent attempt to do
away with these evils. Many OF the lar
gest corporations, many. OF those when
should certainly be included IN any proper
/ fscted in the slightest degree by change
in the tariff, save as such cnange inter-
i fered with the general prosperity OF the
country. The only relation OF the tarln
TO big corporations as whole is that the
tariff makes manufactures prohtapie, ana
the tariff remedy proposed would be IN
/ effect simply to make manufactures I'M
profltabie To remove. the tariff as
| punitive measure directed against trusts
would inevitably result In ruin TO the
weaker competitors who are struggling
| AGAINST them Our aim should be not by
| unwise tariff changes to give foreign prod
! ucts the advantage over domestic PROD
ucts. but by proper regulation to give DO,
| mestic competition a fair chance, and
| this end cannot be reached by any tariH
/ changes which would affect unfavoraDly
/ all domestic competitors. good ana Dad
! alike. The question of regulation OF the
trusts stands apart from the question OF
tariff revision.
Stability OF economic policy must al
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 protective tarln
principle IT is exceedingly undesirable
that this system should be destroyed or
that there should be violent and radical
changes therein. Our past experience
shows that great prosperity In TINS coun-
try has always come under o protective TAR
If and that the country cannot prosper
| under fitful tariff changes at snort inter-
walls. Moreover IL the tariff laws as
whole work well ana II business mas pro1 is
/ better to endure for a time slight neon
veniences and inequalities In some scn i,seI-
ules than to upset business py 700 QUICK
/ and too radical changes. IL Is most ear.
nestly to be wished that we could treat
the tariff from the STANDPOINT soley OF
much to hope that partisanshlp may DC
entirely excluded from consideration OF
the subject. but at least IT can be mace
secondary to the business interests Oh the
country-that is, to the interests OF our
people as a whole. Unquestionably these
/ business interests will best be served IL
! together with fixity of principle as re-
cards the tariff we combine a system
which will permit us from time 10 time 10
make the necessary reappllcatoh Oh lhs
principle to the shifting national needs.
| I'VE must take scrupulous care That the
reapplication shall be made In such way
that it will not amount to dislocation Oh
our system the mere threat OF Whlcn, not
to speak of the performance, would pro
/ duce paralysis in the business energies
of the community. The first consldera-
ton in making these changes Would OF
course, be to preserve the principle wtiiG e.
underlies our whole tariff system-that 49,
! the principle of putting American bust
ness interests at least on a Iuli equanLy
with interests abroad ana OF Always AZ,
| lowing q sufficient rate OF duty TO more
than cover the difference between the
/ labor cost here and ABROAD The well Pc pc
4 ing Of the wageworker, like the well De-
ing of the tiller of the soil, should be
treated as an essential in shaping our
whole economic policy. There must never
be any change which will jeopardize the
wages Of the American wageworker.
| One way in which the REIMBURSEMENT
| sought can be reached is by RECIPROCITY
! such treaties may be adopted. They can
! be used to widen our markets and 10 give
/ a greater field for the activities OF our
producers on the one hand, and on the
other hand to secure In practical shape
the lowering Of duties when they are no
longer needed for protection among our
own people or when the minimum or DAM
age done may be disregarded for the sake
Of the maximum of good accomplishing.
If II prove impossible to ratify the pend
ing treaties and II there seem TO De no
warrant for the endeavor TO execute oth-
ers 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. -
that needed change cannot with advan-
tage be made by the application OF the
reciprocity idea, then II can be made out
right by a lowering OF duties on a given
product II possible. such change should
be made only after the fullest considera-
ton by practical experts. who should APP
! proach the subject from 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 tnves-
tigation can readily be supplied. The ex-
ecutive department has already at its
disDosal methods of collecting facts and
figures, and il the congress desires add
tional consideration to that which will be
given the subject by its own committees.
then commission of business experts can
be appointed whose duty II should be 10
recommend action by the congress after
q deliberate and scientific examination OF
the various schedules as they are affected
by the changed and changing conditions.
The unhurried and unbiased report OF TINS
commission would show what 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 its fixed economic policy.
The cases in which the tariff can pro-
duce a monopoly are so few as to consti-
tute an inconsiderable factor in the ques-
ton; but, of course. If in any case 1t be
a
mote e monopoly which works i'll. no pro-
tectionist would object to such reduction
of the duty as would equalize competition
In my judgment, the tariii on an thcite
nut actually, where IL now is nominally,
on the free list This would have no effect
et all save in crises: but in crises II might
| be of service to the people.
Interest rates are potent factor III
! business activity. and in order that these
rates may be equalized to meet the vary
| Of ha nf
| separated communities. and to prevent the
recurrence Of financial stringencies which
injuriously affect legitimate business, IL
is necessary that there should be an ele-
ment OF elasticity In our monetary gys..
TEN. Banks are the natural servants OF
commerce. and upon them should be
placed, as far as practicable. the burden
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 sufti-
cient supply should be always available
for the business interests of the country.
1t would be both unwise and unneces-
sary at this time to attempt to recon-
struct our financial system. when mas
been the growth OF a century but some
additional legislation Is. / think, desirable
The mere outline of any plan sufnclently
comprehensive to meet these requirements
would transgress the appropriate limits
of this communication. It is suggested.
however that all future legislation on the
subject should be with the view OF en-
couraging the use of such instrumental
ties as will automatically supply every
legitimate demand of productive indus
tries and Of commerce. not only In the
amount, but In the character of .circula-
ton. and of making all kinds Of money
interchangeable and, at the Will of the
holder, convertible into the established
gold standard.
I again call your attention TO the need
Of passing proper immigration law. GOV.
ering the points outlined In my message
congress. Substantially such bill has
already passed the house.
How to secure fair treatment alike for
labor and for capital, how to hold in
check the INSCRIPTIONS man. whether en-
ployer or employee, without weakening
Individual initiative, without hampering