The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1902-12-04

reduction Of the tariff as a means O
reaching the evils Of the trusts which fat
NTithtn VII The eatesofE haze nox SeIofssd iGasc
tive but the diversion Of our efforts ir
such a direction would mean the aban
donment Of all intelllgent attempt to dc
%o Sss eys sny Man{ e {hose of the wa
Should esstainiy Be ila lnel1esa Ii ~ aay pfopc,
s1il1nle OF regulation, would not be az.
fected In the slightest degree by change
fered with the general prosperity of ths
country. The only relation OF the tarlil
to big corporations as g whole ts that tht
tariH makes manufset~tes proftap pie; anc
effect simply to make ranufactr:es un.
punitive measure directed against trusts
would inevitably result In, ruin. to tbf
against them. our aim should be not by
unwise tariff changes to give foreign prod
ucts the advantage over domestic prod
ucts, but by proper regulation to give DO:
this end cannot be reached by any tarill
changes which would affect unfaYnrably
all domestic competitors. good am bad
alike. The question OF regulation Of the
tariff revision.
Stability OF economic policy must al
ways be the prime econon mic need of this
country. This stability should not be fos,,
silizstion The eeunSsry has 2
princlple. It Is exceedingly undesirable
that this system should be destroyed CT
that there should be violent and radical
changes therein: Our East experience eSEs de,,c
try has always come under protective tar.
If and that the country cannot prosper
under ftful tariff changes at short inter.
Whole s WorE soeii Weii and II # business has pros.
pered under them and is prospering. it is
better to endure for q time slight incon-
veniences and inequalities in some sched-
and too radical changes, 1t is most ear,
nestly to be wished that we could treat
th tariff from the standpoint solely OF
our business needs. It is, perhaps. too
entirely excluded from consideration OF
the subject, but at least it can be made
secondary to the business interests OF the
country-that is. to the interests o. our
Business interests will best be served if
together with fixity Of principle as re-
CARDS the tariff we combine q system
which will permit US from time to time to
principle e. to the shifting national needs.
We must take scrupulous care that the
reapplica tion shall be made in such way
that 1t will not amount to dislocation of
to speak OF the performance. would pro-
duce paralysis In the business energies
Of the community. The first considera..
tion in making these changes would, OF
underlies our whole tariff sys:enl-that IS,
the principle Of putting American bust-
ness interests at least on ful! eQuaNty
with interests abroad and OF always al.
lowing a sufficient rate OF duty to more
than cover the difference between the
labor cost here and abroad. The well be-
Ing CT the wageworker. like the we'll be-
tpsatea ng 81 as shee essaai e so G"
be any change which will jeopardize the
standard Of comfort, the standard or
wages. Of the American wageworker:
sought can be reached is by reciprocity
treaties. It is greatly to be desired that
such treaties may. be adopted. They can
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 no
own people or when the minimum Of dam
age done may be disregard ed for the sake
Of the maximum OF good accomplishing.
If 1t prove impossible to ratlry the pend
ing treaties and if there seem to be no
warrant for the endeavor 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 needed change cannot with adran-
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. II possible, such change should
be made only after the fullest considera-
ton by practical experts, who should ap-
proach the subject from business stand
point. having in view both the particular
interests affected and the commercial well
being Of the people as whole. The ma
chinery for providing such careful inves-
tigation can readily be supplied. The eA-
ecutive department has already at its
disposal methods Of collecting facts and
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
upsetting its fixed economic policy.
The cases in which the tariff can pro-
ouce 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 given rate Of duty does pro-
mote q monopoly which works III, no pro-
tectionist would object to such reduction
Of the duty as would eQualize competition.
In my judgment, the tariff on anthracite
coal should be removed and anthracite
put actually. where it now, is noElinally,
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 IN
business activity. and In order that these
rates may he equaliZed to meet the vary
ing needs Of the seasons and OF widely
recurrence Of financial strinSencies which
injuriously affect legitimate business, it
is necessary that there should be an ele-
ment Of elasticity in our monetary sys,
tenn. Banks are the natural servants OF
commerce and upon them should be
placed. as far as practicable. the burden
Of furnishing and maintaining a circula-
ton adequate to supply the needs OF our
diversified industries and Of our domestic
this should be so regulated that sufti-
cient supply should be always available
for the business interests Of the country.
1t would be both unwise and unneces-
say at this time to atfempt witch 10 bas
been the growth Of century, but some
additional legislation is. think. desirable.
The mere outline OF any plan suinclentiy
comprehensive to meet these requirements
W IL
of this communication. 1t Is suggested,
however, that all future legislation on the
subject should be with the view OF en-
couraging the use of such instrumental
ties as will automatically supply every
legitimate demand Of productive indus
tries and Of commerce, not only IN the
amount, but in the character Of clrcula-
ton, and Of making all kinds Of money
interchangeable and, at the will OF the
holder. convertible into the established
gold standard.
: I again call your attention to the need
of passing a proper immigration law. COW
:ering the points outlined in my message
to you at the first session Of the present
already pasosd the house.
How to secure fair treatment alike for
labor and for capital, how to hold in
check the unscrupulous man, whether en-
ployer or employee. without weakening
and cramping the industrial development
Of the country, IS problem fraught with
great difficulties and one which 1t Is OF
the highest Importance to solve on lines
Of sanity and farSighted common sense as
we'll as Of devotion to the right. This Is
an era Of federation and combination.
Exactly as business men find they must
often work through corporations, and as
It Is constant tendency Of these corpora
tions to grow larger, 80 1t Is often neces-
sary for laboring men to Work in federa-
tions, and these have become important
factors Of modern industrial life; Both
kinds Of federation, capitalistfc and laoor,
can do much good, and as necessary
corollary they can both do evil. Opposi-
ton to each kind Of organization should
<olr $laP 1f RI h0