Oxford eagle. (Oxford, Lafayette Co., Miss.) 1876-current, 1902-12-04
THE TARIFF.
1t Is a Subject That stands Apart from
the. Trusts.

THE TARIFF.
1t Il a Subject That stands Apart fr ON
the. Trusts.
One proposition Advocated has been the
reduction of the tariff as 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
direction would mean the abandonment of
all intelligent attempt to do away with
these evils. Many, of the largest corpora
tions. many of those which should GER
tainly be included in any proper scheme of
regulation, would not be affected in the
slightest degree by change in the tariff,
save as such change interfered with the
general prosperity of the country. The
only relation of the tariff to big corpora
tions 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 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 reguia-
ton to give domestic competition a fair
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-
tion Of tariff revision.
Stability of economic policy must always
be the prime economic neeG of this country.
This stability should not be fossiliZation.
The, country has acquiesced in the wisdom
of the protective-tarim principle. 1t is ex-
ceeGingly undesirable that this system
should be destroyed or that there should be
violent and radical changes therein. Our
past experience shows that great prosper
ity in this country has always come under
a protective tariff; and that the country
cannot prosper under fitful tariff changes
at short intervals va Moreover 4 the tariff
has prospered under them and Is prosper
ing, 1t Is better to endure for time slight
inconveniences 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
the tariff from the standpoint solely of our
business needs 1t is. perhaps, too much TO
hope that partisanship may be entirely ex-
ciuded 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
Unques tionably these business interests
will best be served II together with fixity
of principle as regards the tariff we COM
bine system which will permit us from
time to time to make the necessary reap
plication Of the principle to the shifting ma
ttonal neetS. We must take scrupulous
care that the reappHcation shall be made
In such a way that it will not amount TO
a dlslocation OF our system the mere
threat of which (not to speak of the per-
formance) 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-
-ciple which underlies our whole tariff sys-
tem-that is, the principle of putting Amer
lean business interests at least on a full
equality with interests abroad ard 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 we,l-be-
ing of the tiiler of the SOIL should be treat
ee as an essential in shaping our whole
economic policy. There must never be any
change which will jeopardize the standard
of comfort, the standard of wages of the
American wage-worker
One way in which the readjustment
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 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
longer needed for protection among cur
own people, or when the minimum of
sake of the maximum of good accom-
plished If it prove impossible to ratify
the pending treaties. and if there seem
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 Tariff Commission
Wherever the tariff conditions are such
that a needed change cannot 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 busi-
ness standpoint, having in view both the
particular interests affected and the COM
mercial weil-being of the people as a
whole. The machinery for providing such
careful inNpSfis-a tfOn readily ha
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
that which will be given the subject by
its own committees, then a commission
of business experts can be appointed
action by the congress after 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 what changes
should be made in 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 upsetting its fixed economic poll
icy.
The cases in which the tariff can pro-
duce monopoly are so few as to con-
stitute an inconsiderahle factor in the
question: but of course if in any case
1t be found that a given rate of duty
does promote monopoly which works
i'll. no protectionist would object to such
reduction of the duty as would equalize
competition.
In my Judgment. the tariff on anthra-
cite coal should be removed, and anthra-
cite put actually, where it now is NOM
inaly, on the free list. This would have
no effect at all save in crises; but in
crises il might be of service to the peo-
pie.
Needed Financial Legislation.
Interest rates are a potent factor in
business activity, and in order that these
rates may be equalized to meet the vary
ing needs of the seasons and OF widely
separated communities. and to prevent
the recurrence of financial stringencies
which injuriously affect legitimate busi-
ness, IL Is necessary that there should be
an element of elasticity in our monetary
system. Banks are the natural servants
OF commerce. ana upon them should be
placed, as far as practicable, the burden
of furnishing and maintaining a circu-
lation adequate to supply the needs of
our diversified industries and OF our do
mesuc and foreign commerce: and the
issue OF this should be so regulated that
sufficient 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 systems~ which has
been the growth of century; but some
additional legislation is | think desir-
aple The mere outline of any plan suffl-
GENTLY comprehensive to meet these re-
quirements would transgress the appro-
PIRATE limits of this communities ton 1t
is suggested. however, that all future
legislation on the subject should be with
the View OF encouraging the use of such
instrumentalities as will automatically
supply every legitimate demand of pro-
duetive industries and of commerce, not
only. in the amount, but in the character
of circulation: and of making all kinds of
money interchangeable. and. at the will
OF the holder, convertible into the estab-
lished gold standard
THE LABOR PROBLEM.
Unionfsm Contains Much That Is Good
and Some Bad.