The united opinion. [volume] (Bradford, Vt.) 1881-1970, 1902-12-05

attorney general
One proposition advocated has been the
reduction of the tariff as q means of
reaching the evils of the trusts which fall
within the category / have described.
Not merely would this be wholly ineffec-
tive, but the diversion of our efforts in
such a direction would mean the aban-
donment of all intelligent attempt to do
away with these evils. Many of the lar
gest corporations many of those which
should certainly be included in any proper
scheme of regulation, would not be af-
fected In the slightest degree by change
in the tariff, save as such change inter-
fered with the general prosperity of the
country. The only relation of the tariff
to big corporations as whole is that the
tariff makes manufactures profitable, and
the tariff remedy proposed would be in
effect simply to make manufactures I'M
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 advantage over domestic prod
ucts, but by proper regulation to give do
nestle competition a fair chance, and
this end cannot be reached by any tariff
changes which would affect unfavorably
all domestic competitors, good and bad
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 TINS
country This stability should not be fos--
in the wisdom of the protective tariff
principle. 1t is exceedingly undesirable
that this 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 protective tar
iff and that the country cannot prosper
under fitful tariff changes at short inter-
walls. Moreover, if the tariff laws as
whole work well and If business has pros
pered under them and is prospecting, 1t Is
better to endure for a time slight incon-
veniences and inequalities in some sched-
ules than to upset business by too quick
neStly to be wished that we could treat
the tariff from the standpoint solely Of
our business needs. 1t is, perhaps, too
much to hope that partisanship may be
entirely excluded from consideration or
the subject, but at least it can be made
secondary to the business. interests Of the
country-that is, to the interests of our
people as a whole Unquestionably these
business interests will best be served If
together with fixity of principle as re-
which will permit us from time to time to
make the necessary reapplication of the
principle to the shifting national needs.
reapplication shall be made in such way
that 1T will not amount to a dislocation OF
our system, the mere threat of which, not
to speak of the performance, would pro-
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,
ness interests at least on full equality
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 of the wagew orker, like the well be-
ing of the tilier 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 wageworker.
One way in which the readjustment
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 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 disregarded for the sake
Of the maximum of good accomplished.
If it prove impossible to ratify the pend
ing treaties and If there seem to be no
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 reciprocty-should be met
by direct legislation.
Wherever the tariff conditions are such
that a needed change cannot with advan-
tage be made by the application of the
reciprocity idea, then it can be made out
right by lowsEinga 2f duties les on on given d"11
:; . ] j: ]: !
ton by pr apo should APP
pr4R - - esS stand B.
point IT, the particular
interests al commercial well
being of thay whole. The ma
tigation can readily be supplied. The ex-
ecutive department has already at it's
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 a commission of business experts can
be appointed whose duty it should be to
recommend action by the congress after
4 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
would show what changes
should be made in the various schedules
and how far these changes could go with
lut also changing the great prosperity
which this country Is now enjoying or
lpsetting it's fixed economic policy
The cases in which the tariff can pro-
luce monopoly are so few as to consti-
ute an inconsiderable factor in the ques-
ion; but. of course, if in any case 1T be
'ound that a given rate of duty does pro-
note a monopoly which works i'll, no pro-
ectionist would object to such reduction
# the duty as would equaliZe competition.
In my Judgment, the tariff on anthracite
,oal should be removed and anthracite
)ut actually. where it now is nominally,
IN the free list. This would have no effect
1t all save in crises; but in crises it might
De of service to the people.
interest rates are a potent factor In
business activity. and in order that these
'ates may be equalized to meet the vary
ng needs Of the seasons and of widely
separated communities, and to prevent the
of financial stringencies which
njuriously affect legitimate business, 1t
s necessary that there should be an ele-
nent of elasticity in our monetary sys-
EN-. Banks are the natural servants of
commerce. and upon them should be
placed, as far as practicable, the burden
# furnishing and maintaining a circula-
ion adequate to supply the needs of our
diversified industries and of our domestic
nd foreign commerce, and the issue OF
his should be so regulated that a suffi-
lent supply should be always available
or the business interests of the country.
1t would be both unwise and unneces-
truct our financial system, which has
'een the growth of a century, but some
dditional legislation is, think, desirable, !
'he mere outline of any plan sufficiently !
to meet these requirements
would transgress the appropriate limits
I this comm I n alton It Is suggested, !
ubject should be with the view of en-
ouraging the use of such instrumental
les as will automatically supply every !
legitimate demand of productive indus 9
ries and of commerce, not only in the
mount. but in the character of circula-
ion. and Of making all kinds of money
Interchangeable and, at the will of the q
older, convertible into the established 6
old standard.
l again call your attention to the need I
( passing a proper immigration law, COW
ring the points outlined in my message I
D you at the first session of the present I
ongress. Substantially such a bill has a
i-~ady passed the house.
How to secure fair treatment alike for {
Lbor and for capital how to hold in :
heck the INSCRIPTIONS man, whether en- 6
loyer or employee. without weakening 7
ldtvidual initiative, without hampering I
nd cramping the Industrial development l
the country is problem fraught with v
reat difficulties and one which 1t is OF n
he highest Importance to solve on lines
sanity and farsighted common sense as
ell as of devotion to the right This Is
n era of federation and combinatio c
xactly as business men find they must p