The McCook tribune. (McCook, Neb.) 1886-1936, 1902-12-12
For Reeinrooitx Treaties.

For Reciprocity Treaties.
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
give a 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 1t 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 50 that they can be ratified, then
the same cnd-to secure reciprocity
should be met by direct legislation.
For Expert Tariff Commission.
Wherever the tariff conditions are such
that needed change cannot with ad-
vantage be made by the application of
the reciprocity idea. then it can be made
outright by a lowering of duties on
given product. If possible, such change
should be made only after the fullest
consideration by practical experts. who
should approach the subject from
business standpoint, having in view both
the particular interests affected and the
commercial well-beipg Of the people, as
a whole. The machinery for providing
such careful investigation can readily be
supplied. The executive department has
already at its disposal methods of col
lecting facts and figures; and If the con-
gress desires additional consideration to
that which will be given the subject by
it's own committees, then a commission
of business experts can be appointed
whose duty 1t should be to recommend
action by the Congress after deliberate
and scientific examination Of the various
schedules as they are affected by the
changed and changing conditions. The
unhurried and unbiased report or 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 pros
perity which this country is now enjoy
ing, or upsetting its fixed economic pol
icy.
The cases in which the tariff can pro-
duce monopoly are so few as to con-
stitute an inconsiderable factor in the
question; but of course if in any case
it be found that a given rate of duty
does promote a monopoly which works
i'll, no protectionist 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 anthra7
cite put actually, where it now is NOM
inally, on the free list This would have
no effect at all save in crises; but in
crises it might be Of service to the peo-
pie.
Monetary Legislation.
Interest rates are a potent factor in
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
the recurrence of financial stringencies
which injuriousy affect legitimate busi-
ness, it is necessary that there should
be an element of elasticity in our none
tary system. Banks are the natural ser
wants of commerce, and upon them should |
be placed, as far as practicable, the |
burden of furnishing and maintaining a |
circulation adequate to supply the needs |
of our diversified industries and Of our |
domestic and foreign commerce.; and |
the issue of this should be so regulated |
that a sufficient supply should be al |
ways available for the business interests |
of the country. |
It would be both unwise and unneces-
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, L think, desir- |
able The mere outline of any plan suff1- |
GENTLY comprehensive to meet these re-
quirements would transgress the appro- |
pirate limits of this communication. 1t |
is suggested, however, that all future |
legislation on the subject should be with |
the view of encouraging the use of such |
instrumentalities as will automatically |
supply every legitimate demand of pro-
ductive industries and of commerce, not
only in the amount, but in the character
of circulation; and of making all klnds
of money interchangeable, and, at the
will of the holder, convertible INTO the
esta ablished gold standard.