Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1902-12-04

formance) would procuce paralysis In the
business energies of the community. The
first consideration In making these changes
would, Of course, be TO preserve the prln-
ciple which underles our whole tariff sys-
tem-that is, the principle Of putting Amer,
lean business interests at least on a full
equality. with interests abroad, and of al
ways allowing sufficient rate Of duty to
more than cover the difference between The
labor cost here and abroad The well-be-
Ing Of the wage worker, like the well-be-
ing of the tiller Of the soil, should be treat
ed 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
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 q 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. II II prove impossible to ratify
the pending treaties, and II there seem
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 direct legislation.
Need Of a Tariff Commiauion.
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 lowering of duties on a
given product. If possible, such change
should be made only after the fullest
consideration by practical experts who
should approach the subject from busi-
ness standpoint, having In view both the
mercial well-being OF the people as a
whole. The machinery for providing such
careful investigation can readily be sup
piled. The executive department has al
ready at its disposal methods of collect
ing facts and figures; and II the con-
gress desires additional consideration to
that which will be given the subject by
its own committees, then 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 Of 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 a monopoly are so few as to con-
stitute an inconslderable factor In the
question: but of course II In any case
It be found that given rate of duty
does promote monopoly which works
Ill., 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 anthra.
cite put actually, where 1t now Is NOM
inally, on the free list. This would have
no effect at all save In crises; but In
crises II might be OF service to the peo>
pie.
Needed Financial Legislation.
Interest rates are 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 strlngencies
which injuriously affect legitimate busi-
ness, It Is necessary that there should be
an element of elasticity In our monetary
system Banks are the natural servants
OF commerce, and upon them should be
placed, as far as practicable, the burden
of furnishing and maintaining a circu.
lation adequate to supply the needs OF
our diversified industries and of our do
nestle and foreign commerce; and the
issue Of this should be so regulated that
sufficient supply should be always
available for the business interests Of
the country.
1t would be both unwise and unneces-
sary at this time to attempt to recon-
struct our financial system, which has
been the growth Of century: but some
additional legislation Is, | think, desir-
able. The mere outline OF any plan suffi-
ciently comprehensive to meet these re-
qulrements would transgress the appro-
pirate limits Of this communication. IT
Is suggested, however, that all future
legislation on the subject should be with
the view Of encouraging the use Of such
instrumentalties 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 kinds Of
money interchangeable, and, at the will
of the holder, convertible into the estab-
lished gold standard.