The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1902-12-05
THE TARIFF.
1t Is 4 Subject That Stands Apart from
the Trusts.

One proposition advocated has been the
reduction of the tariff as a means OF reach
ing the evils of the trusts which fall with
in the category L have described Not
merely would this be wholly ineffective
but the diversion of our efforts in such a
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
talnly be included in any proper scheme of
regulation, would not be affected in the
slightest degree by a 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 a. a 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 regula-
ton 20 give domestic competition fair
chance; and this end cannot be reached by
any tariff changes which would affect I'M
taVorably 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 lot 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 snort intervals. Moreover, If the ta riff
! laws as a whole work well, and if business
has prOSpered under them and is prosper
ing, it is better to endure for a time slight
inconvenience 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 n
\ hope that partisanship may be entirely ex-
cluded from consideration of the subject
but at least 1t can be made secondary to
/ the business interests of the coun try-that
is, to the interests of our people as a whole
Unquesti onably these business interests
will best be served If together with fixity
| of principle as regards the tariff we COM
bine a system which will permit us from
time to time to make the necessary reap
pllcatlon of the principle to the shifting ma
tional needs We must take scrupulous
care that the reapplication shall be made
In such way that it will not amount to
a dislocation of our system, the mere
| threat of which (not to speak of the per
tormance) would produce paralysis in the
business energies of the community The
nrst consideration in making these changes
would, of course be to preserve the min
clple which underlies our whole tariff syg-
tem-that is, the principle of putting Amer
lean business interests at least on a f1I1
equality with interests abroad. and Of AL
ways allowing sufficient rate of duty to
more than cover the difference between The
razor cost here and abroad. The well-be-
lEg OF the Mage-worker, like the welI-be-
Ing of the tiller of the soil, should be treat
ed as an essential in shaping our whole
economic policy. There must never be anV
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
4 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 our
| own people, or when the minimum of
damage done may be disregarded for the
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 n 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
given product II possible, such change
| should be made only after the fullest
] consideration Dy prdCIlcdl experts, who
/ should approach the subject from a bust
| ness standpoint, having in view both the
/ particular interests affected and the COM
mercial well-being of the people as a
/ whole. The machinery for providing such
/ careful investigation can readily be sup
! 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
/ 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 tLs 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 pol
/ icy.
4 The cases in which the tariff can pro-
/ duce a monopoly are so few as to con-
Sttute an inconsidera BILE factor in the
| question; bu* of course If in any case
It be found That a given rate of duty
~Ses promote d monopoly which works
/ i'll. no Drotectionist 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
inally. on the free list This would have
no effect at all save in crises: hit IN