Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1902-12-03

,austed by any legislation now on the
tatute books; i is evident. therefore,
l tana and ans entaiins restraint upon national
commerce fall within the regulattye pow.
n of the congress and that wise and
aw VI W9s% RE
% the end that such evils should be Grad
Gated.
j believe that menopoliss,, unjust a,,l dis,
fraudulent overcapitalization
and other evils In trust organizations and
practices which injuriousiy affect inter-
state trade. can be prevented under the
merce with foreign nations and among
the several states through regulations
and requirements operating directly upon
thereof and those engaged therein.
earnestly recommend this subject to the
of the congress with view
provisions and effective in its operations,
upon which the questions can be finally
adjudicated that now raise doubts as to
ment. If 1t prove impossible to accom-
plish the purposes above set forth by such
a law, then assuredly, we should not
as to secure beyond peradventure the
power sought.
The congress has not heretofore made
ment Of the antitrust law as it now
stands. Very much has been done by the
department Of Justice in securing sec the en-.
could be done II congress would make a
special appropriation for this purpose, to
be expended under the direction of the
One proposition advocated has been the
reduction of the tariff as means of
reaching the evils of the trusts which fall
Not merely would this be wholly ineffec-
tive, but the diversion of our efforts in
such a direction would mean the aban-
1p,, 80 all t,to aft r,,y,t tn 1n
away with these evils. Many of the lar
gest corporations. many, of those which
should certainly be included in any proper
fected in the slightest degree by change
In the tariff. save as such change inter-
fered with the general prosperity Of the
to big corporations as whole Is that the
tariff makes manufactures profitable, and
the tariff remedy proposed would be in
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 the ,advaniage over domestic ep prod cd
nestle competition a fair chance, and
this end cannot be reached by any tariff
changes which would affect unfavorably
alike. The question of regulation of the
trusts stands apart from the question of
tariff revision.
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
principle. 1t is exceedingly undesirable
that this system should be destroyed or
that there should be violent and radical
shows that great prosperity In this coun-
try has always come undera protective tar
If and that the country cannot prosper
avIff of tpfa
walls. Moreover, If the tariff laws as q
whole work well and If business has pros
pered under them and is prospecting, it is
yeniences and inequalities in some sched-
ules than to upset business by too quick
and too radical changes 1t is most ear.
the tariff from the standpoint solely OF
our business needs. 1t Is. perhaps, toe
much to hope, that. craftsmanship may be
the subject, but at least 1t can be made
secondary to the business interests Of thu
country-that is; to the interests of oui
business interests will best be served Il
together with flxity of principle as re
gahTd aS shH n tariff we ,r combine q syst
make the necessary reapplication of the
principle to the shifting national needs
that 1t will not amount TO dislocation OF
our system. the mere threat of which. not
performances,
duce paralysis in the business energies
of the community. The first considera-
ton in making these changes would, Of
underlies our whole tariff system-that is.
the principle of putting American bust
ness interests at least on full equality
lowing a sufficient rate OF duty to NOR.
than cover the difference between thu
labor cost here and abroad. The well be
/ Ing of the tiller of the soil. should b.
treated as an essential in shaping on
whole economic policy. There must neye
wages. Of the American wageWorIer
One way in which the readjustmen
treaties 1t is greatly to be desired thai
such treaties may be adopted. They car
be used to widen our markets and to give
producers on the one hand. and on the
other hand to secure in. practical shape
the lowering of duties when they are M
longer needed for protection among oul
own people or when the minimum of dam
| age done may be disregarded for the SAX.
Of the maTimum Of good at accomplished mp
| ing treaties and if there seem to be n,
warrant for the endeavor to execute 9th
ers or to amend the pending treaties 8
| end-to secure reciprocity-should be me
| by direct legislation.
| Wherever the tariff conditions are sue
tage be made by the application of tn
reciprocity idea, then it can be made out
right by lowering of duties on give
/ product. If possible, such change Shout
be made only after the fullest considera
ton by practical experts. who should ap
proach the subject from business<sta
point. having in view both the particula
interests affected and the commercial we
being of the people as whole. The ma
chinery for providing such careful inves
| tigation can readily be supplied. The eS
| ecutive department has already at 1t
| disposal methods of collecting facts an
figures and If the congress desires add
| tional consideration to that which will b
given the subject by its own committees
1 then commission of business experts en-
be appointed whose duty it should be t
recommend action by the congress afte
q deliberate ard scientific examination O
the various schedules as they are affecte
by the changed and changing conditions
The unhurried and unbiased report of TIL
commission would show what change
should be made in the various schedule
and how far these changes could go with
out also changing the great prosperit
which this country is now enjoying Q
upsetting its fixed economic policy.
The cases in which the tariff can pro
duce monopoly are SO few as to constl
tute an inconsiderable factor in the ques
ton; but, of course, If in any case it
found that a given rate of duty does pre-
mote q monopoly which works i'll. no pre-
tectiopist would object to such reductio
/ VI Tie uuly WOuit sluall2e
In my judgment. the tariff on anthracit
coal should be removed and anthracit
put actually, where it now is nominal,
on the free list. This would have no effet
at all save in crises. but in crises 1t migf
be of service to the people
| Interest rates are a potent factor
business activity and in order that thes
rates may be equalized to meet the vary
ing needs Of the seasons and of widel
separated communities and to prevent til
recurrence of financial stringencies whic
injuriously affect legitimate business,
is necessary that there should be an ell,
ment of elasticity in our monetary sy.
TEN. Banks are the natural servants
commerce. and upon them should |
placed. as far as practicable, the burde
of furnishing and maintaining a circul;
ton adequate to supply the needs of OIL
diversified industries and of our domest
and foreign commerce, and the issue {
this should be SO regulated that sufi
Gent supply should be always availab
for the business interests OF the country.
1t would be both unwise and unnece
sary at this time TO attempt 10 recol
struct our financial system, which he
been the growth of a century, but son
additional legislation IS think. desrabl
The mere outline of any plan sufficient
comprehensive to meet these requirement
, would transgress the appropriate lim
of this communication, II Is suggeste
however. that all future legislation on Il
subject should be with the view of Ell
couraging the use of such instrumental
ties as will automatically supply ever