The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1902-10-02

spouse to the demand of American Ia
Dor and American industry, and in
obedience to the demand that suitable
duties should be imposed against the
products of foreign factories which
might enter into injurious competition
with the like products in our own
country.
We enacted the Dingley law after
months of patient, arduous work
after the fullest possible consideration
was given to every interest to be af-
fected by the great measure. We
wished a law which would not only
supply depleted treasury, but which
would open the factories of the United
States. The Dingley law has accom-
plished both these purposes. 1t has
fully indicated itself. Under 1t need
ed revenue poured into the treasury
and our domestic and foreign com
merce have steadily risen until they
almost defy computation.
Tariff Revision.
Whenever the tariff needs revision
who shall revise 1t? Shall it be done
by the creator Of the protective policy
or by it's inveterate free-trade enemy?
Shall it be revised carefully and wise
ly or forcibly and viciously? Shall it
be done by the party of sound princi-
pies or by the party of economic blum
ders and political mistakes?
We do not hold that the protective
tariff Is an inspired decree. It Is at
most an expedient of government
Tariff schedules are not sacred. They
are devised to support the government
and to sustain our industrial life; not
to threaten 1t.
The Republican party may be relied
upon to modify tariff schedules when
ever their modification is demanded
In the interest of sound and wholesome
industry and commerce, and the mod
ification will never be made to destroy
but to build up. We realize that in the
evolution Of production. under chang
ed conditions, schedules from time to
time need modification; that is to say,
a rate of duty imposed upon a specific
article today, because of improved
methods in production or otherwise,
may be found to be greater than nee
essary a few years hence, but we
should have care that notifications
are made in accordance with the es-
sential principles of protection. There
should be a clear and definite reason
for making changes. They should be
made after they shall have been found
to be necessary. There should be no
hesitancy in modifying any schedule
IL the duty imposed therein should be
shown to work injury to our own pro
ducers or to our own commerce, or il
1t shall be found to be greater than
needed to fully protect American in.
dustries and labor.
It Is not necessary to waic until all
the schedules require revision. The
subject must be considered IN no mar
row. technical or vexatious way, but In
a broad way; 1t must not be consid
cred in a way to disturb legitimate en-
terprise. but In a manner to promote
it's stability. Changes made in SEIZED
ules along free-trade lines are always
disquieting and hurtful. but II made
upon the clearest and fullest intelli
gent recognition o. the protective prin
ciple. no legitimate enterprise can dc
otherwise than prosper.
| Public Finance,
A comparison between the condition
Of the national treasury under Demo
cratic and Republican administration
is instructive. We have not beer
obliged to borrow money to meet the
ordinary current expenses Of the gov
eminent. Our revenue, derived from
customs and excise taxes, has beer
sufficient for this. We have issued NJ
bonds for meeting the usual current
running expenses Of the government
We sold $200,000,Ou0 of per cen
bonds at par to meet the extraordinar,
demands of the war with SPAIN but
1 Notwithstanding this fact, the fnteres
upon the government debt is less to
day than when we came into powe
through President Mckinley. w,
have set apart In the redemption de
partment of the treasury $3.50, 0O0, 90,
of gold as a permanent fund will
which to maintain the United State
notes at parity with gola. In add
ton there is an available cash balanc,
in the general fund of $214, $50, 909
Thus we will see that the treasury i
In strong financial condition. In fact
it Is unequaled by the treasury of an,
government In the world. The surplu
Is larger than is necessary to be pei
manently maintained. and the repea
J of the Spanish war taxes and the Pan
apa canal purchase and other public
requirements will reduce It to a rea
sonable working balance, necessary Il
meet normal peace requirements.
Under Republican tariff and none
tary policies the United States has be
come the leading financial nation o
the world. Our increasing interna
} tional trade balance continues rapid,
to strengthen our financial position
When foreign governments wish +
supply their public treasury, thei
bonds find a ready market in tn
United States. Several foreign go,
ernments are annually paying upo
their bonds which are held by us larg
sums in the way of interest. Whe
. our government required money Wit
:. which to prosecute the var with Spai
we did not go abroad for it, as formel
ly, but borrowed 1t at home among GU