Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1902-12-09

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the wisdom of the Protective tariff prin-
ciplp. 1t is exceedingly undesirable that
thu system should be destroyed or that
there should be violent and radical
changes therein. Our past experience
shows that great prosperity in this coun-
try has always come under a protective
tariff; and that the country cannot pros
per under ftful tariff changes at short
intervals. Moreover, if the tariff laws
as a whole work well, and if husin ess
has prospered under them and is pros
pering, it is better to endure for a time
slight Inconvenience and inequalities in
some schedules tiian 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. Unquestion-
ably these business interests will best be
served if together with fixity of principle
rs regards the tariff we combine sys-
TEN 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 way that it will not amount to a
dlslocation of our system. the mere threat
Of which mot to speak of the perform
ance) would produce paralysis in the
business energies of the community. The
first consideration in making these
Echanges would, of course, be to preserve
the principle which underlies our whole
tariff system-that is. the principle of
putting American business interests at
least on full equality with interests
abroad, and of always allowing suffi-
Gent 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 ,.Aeing of the tiller of
the soil, should be treated 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. 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 di-
rect legislation.
Advocates a Tariff Commission.
Wherever the tariff conditions are such
that a needed change cannot with advan-
tage be made by the application IF the
reciprocity idea then it can be made cut
right by lowering of duties OH given
product. If possible, such change should
be made only after the fullest considera-
ton by practical experts. who should
approach the subject from a business
standpoint, having in view both the par
ticular interests affected and the CONNER
cial well-being of the people as whole.
The machinery for providing such careful
investigation can readily be supplied. The
executive department has already ut its
disposal methods of collecting facts and
figures; and if the Congress desires addi-
Z nal consideration to that which will be
given the subject by its own committees,
then commission of business experts
4 can be appointed whose duty it should be
to recommend action by the Congress af-
ter a deliberate and scientific examina-
ton of the various schedules as they are
affected by the changed and changing
conditions.
The cases in which the tariff can pro-
duce monopoly are so few as to consti-
tute an inccnsiderable factor in the ques-
1 4
found that a given rate of duty does pro-
mote monopoly which works III no pro-
tectionist would object to such reduction
of the duty as would equalize competi-
ton.
Wou1d Remove Tariff on Coal.
In my Judgment, the tariff on anthra-
cite coal should be removed, and anthra-
cite put actually, where it now is nomi-
nally, 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
Banking and Currency.
Banks are the natural servants OF com
merce. and upon them should be placed,
as far as practicable the burden of fur
nishing and maintaining circulation
adequate to supply the needs Of our di-
versified industries and of our domestic
and foreign commerce; and the issue of
this should be so regulated that suffi-
Gent supply should be always available
for the business interests of the country.
1t would be both unwise and nnneces-
sary at this time to attempt To recon
struct our financial system. which has
been the growth of a century; but some
additional legislation is, | think, desira-
bic 1t is suggested that all future legis-
ation on the subject should be with the
view of encouraging the use of such in
strumentalities as win automatically sup
ply every legitimate demand of produc-
tive industries and of commerce. not only
il 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-
Iished gold standard