The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-12-10

the several states through rerulati9ns
anu requirements operating directly upon
SScn commerce, the instrumentalities
tnefeot and those engaged therein.
earnestly recommend this subject to the
consideration of the congress with n view
70 the passage of law reasonable in it's
proVislonS ana effective in it's operations
upon which the questions can be finally
aoJudicated that now raise doubts as to
the necessity of constitutional ame2d-
ment If 1t prove impossible to accom-
pilSn the purposes above set forth by such
a law, then assuredly we should not
shrink from amending the constitution SO
power sought.
The congress has not heretofore made
any appropriation for the better enforce
ment OF the antitrust law as it now
stands. Very much has been done by the
department of justice IN securing the en-
doreenent OF this law, but much more
could be done II congress would make a
speclal appropriation for this purpose to
be expended under the direction of the
attorney general.
One proposition advocated has been the
reduction OF the tariff as a means of
reaching the evils of the trusts which fall
Not ere s %ongg THIS he hay bod
tive, but the diversion of our efforts in
such direction would mean the aban-
away with these evils, Many of the lar
gest corpora tons, many of those which
should certainly be included in any proper
scneme OF regulation would not be af-
fected in the slightest degree by a change
in the tariff. save as such change inter
tered with the general prosperity of the
country. The only relation of the tariff
TO big corporations as a whole is that the
tariff makes manufactures profitable, and
the tarin remedy proposed would be in
erect SIMPLY to make manufactures un-
profitable. To remove the tariff as a
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, but by proper regulation to give do
mestfc competition a fair chance, and
this end cannot be reached by any tariff
changes which would affect unfayorably
all domestic competitors. good and bad
alike. The question OF regulation of the
trusts stands apart from the question of
Stability of economic policy must al
ways be the prime economic need of this
country. This stability should not be fos-
silization. The country has acQuiesced
in the wisdom of the protective tariff
principle. 1t is exceedingly undesirable
that this system should be destroyed or
changes therein. Our past experience
shows that great prosperity In this coun-
try has always come undera protective tar
III and that the country cannot prosper
under ftful tariff changes at short inter
walls. Moreover, il the tariff laws as a
whole work we'll and if business has pros
pered under them and is prospecting, it is
better to endure for a time slight incon-
Venfences and inequalities in some Sched-
QlSS than to upset business by too quick
and too radical changes. 1t is most ear
nestly 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 excluded from consideration of
the subject, but at least it can be made
country-that is, to the interests of our
people as a whole. Unquestionably these
business interests will best be served if
together with tiXity of principle as re-
CARDS the tariff we combine q system
which will permit us from time to time to
make the necessary reapplication of the
principle to the shifting national needs.
We must take scrupulous care that the
reapplication shall be made in such a way
our system. the mere threat of which, not
to speak of the performance, would pro-
duce paralysis in the business energies
of the community. The first considera-
ton in making these changes would, of
course, be to preserve the principle which
underlies our whole tariff system-that is.
ness interests at least on q full equality
| with interests abroad and of always al
lowing sufficient rate OF duty to more
than cover the ditference between the
| labor cost here and abroad. The well be-
| ing of the wageworker, like the well be-
| ing Of the tiller of the soil, should be
| whole, economic policy. There must never
be any change which will jeopardize the
wages. of the American wageworker.
One way in which the readjustment
| sought can sbe 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
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 of dam
! age done may be disregarded for the sake
| OF the maximum Of good accomplished.
| If 1t prove impossible to ratify the pend
| there
| warrant for the endeayor to execute 9TH
| 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.
| Wherever the tariff conditions are such
| that q needed change cannot with advan-
| tage be made by the application of the
| reciprocity idea, then it can be made out
! right by lowering of duties on a given
| product. If 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 q whole. The ma
! chinery for providing such careful inves-
tigation can readily be supplied. The ex-
! ecutive department has already at its
! disposal methods of collecting facts and
I figures, and if the congress desires addi-
! tional consideration to that which will be
! given the subject by its own committees
| then q commission of business experts can
! be appointed whose duty it should be to
recommend 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 with
| out also changing the great prosperity
/ which this country is now enjoying OF
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 it be
! found that a given rate of duty does pro
/ mote a monopoly which works ill., no pro-
tectionist would object to such reduction
| of the duty as would equalize competition
In my Judgment, the tariff anthracite
! put actually, where it now is nominaily
! on the free list. This would have no effect
! at all save in crises: but in crises it might
/ be of service to the people
| Interest rates are potent factor ir
| 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 tbs
| recurrence of financial stringencies which
! injuriously affect legitimate business, il
/ is necessary that there should be an ele-
! ment of elasticity in our monetary sys-
4 tenn. Banks are the natural servants OF
| commerce. and upon them should bt
! placed, as far as practicable, the burden
! ton adequate to supply the needs of oul
diversified industries and of our domestic
| and foreign commerce, and the issue OF
! this should be regulated that a sniff