Omaha daily bee., 1902-12-03

ibis end cannot be reached BY any tarih
changes which would affect unfavorably all
domestic competitors. good and bad alike.
fhs question Of regulation Of the trusts
stands apsfi from the question Of tariff re-
vision.
Protection Means Prosperity.
Stability ~ economic policy must be the
tfime economic need Of this country. This
stability should not be fossiiization. The
country has acquiesced IN the wisdom Of
me proteriive-tstin principle. IL Is ex-
teedihFly undesirable that this system
should be destroyed or that there should
be- violent and radical changes therein. Our
bast experience shows that great prosperity
IN this country has always come under a
protective tatin; and that the country can
not prosper under ntful tariff changes at
short intervals. Moreover, II the tariff
laws rs q whole work well, and II business
hgs prospored under them and Is prosper
Ing. " is better to endure for a time slight
Inconvenience and inequalities In some
schedules than 10 upset business by too
quick and too radical changes. 1t Is most
earnestly to b. wished that we could treat
tafin from the standpoint solely Of our
business needs. T. is perhaps too much
10 hope that psrtisanehip may be entirely
excluded from consideration OF tire subject,
but a. least II can be made secondary to
The business Interests OF the coun;ry-that
Ia. 10 the interests OF our people as a
whole. UnquestiOnab1y these business in
tcrosts will best be served II together with
hEity Of principle as regards the tariff
We combine n system which will permit US
from time to time TO make the necessary
reapplication Of the principle to the shift
ing national needs. We must take scrup-
ulous care that the reapplication shall be
made in such n way that 1t will not amount
10 q dlslocation Of our system. the mere
threat Of which mot 70 speak Of the per-
formance) would produce paralysis in the
business energies of the community. The
FIRST confederation 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
American business interests at least on a
full equality with interests abroad, and
Of always allowing a sufficient rate of
duty to more than cover the difference
between the labor cost here and ABROAD.
The well-being of the wage-worker, like
the well-being Of the tiller Of the soil,
should be treated as an essential in shap-
Ing our whole economic policy. There
must never be any change which will
jeopardlze the standard OF comfort, the
standard of wages Of the American wage
worker.
Reciprocity IL Advocated.
One way In which the readjustment
sought can be reached is by reciprocity
treaties. II 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
hand to secure in practical shape the low
ering OF duties when they are no longer
needed for protection among our own peo-
pie, or when the minimum of damage done
may be dlsregarded for the sake OF the
maximum of good accomplished. If it prove
Impossible to ratify the, pending treaties,
and II 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 reci-
procity-should be met by direct legisla-
ton.
Wherever tarin conditions are such that
a needed change cannot with advantage be
made by the application of the reciprocity
idea. then 1t can be made outright by a
lowering Of duties on a given product. II
possible, such change should be made only
after the fullest consideration by prac-
tical experts, who should approach the sub
ject from a business standpoint, having in
view both the particular interests affected
and the commercial well being Of the PEG
pie as a whole. The machinery for pro.
viding such careful investigation can read
lily be supplied. The executive department
has already at Its disposal methods of col
lecting facts and figures, and II the con
gress desires additional consideration ia
I -. - III - = -
own committees, then a commission OF
business experts can be appointed whose
duty It should be to action by
the congress after a deliberate and seien-
tihc 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 prosperity which this country is nov
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 II in any case 1t bt
found that a given rate of duty does pro,
mote a monopoly which works i'll, no pro.
tectionist would object to such reduction
Of the duty as would equalize competi
ton.
In my judgment the tariff on anthracit,
coal should be removed and anthracite pu
actually, where 1t now is nominally, on tn,
free list. This would have no effect at al
save in crises; but in crises II might be o
service to the people.
Currency and Banking.
Interest rates are a potent factor in bust
ness activity. and in order that these rate
may be equalized TO meet the varying need
Of the seasons and Of widely separated
communities, and to prevent the recurrence
Of financial stringenefes which injuriousl,
AFFECT legitimate business, IL is necessar,
that there should be an element of elias
ITCHY in our monetary system. Banks ar,
the natural servants Of commerce. an
upon them should be placed, as far a
practicable. the burden Of furnishing an
maintaining a circulation adequate to sup
ply the needs OF our diversified industrie
and Of our domestic M foreign
and the issue Of this should be SO regulates
that a suf1eient supply should be Away
available for the business interests OF tn
country.
II would be both unwise and unnecessar