The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1903-10-24
ALLISON FOR THE TARIFF.
Iowa Senator Declares That Protec.
tion Cannot he Charged with
Fostering Trusts.

At Clinton, Ia, October 10. Senator
William b. Allison spoke upon the tariff
and trusts. arguing strongly In support
of high tariff taxes and declaring the
same to be irresponsible for trust evils.
The senator said:
1T 10 conceded that the protection pol
Icy 10 the basis OF what are known as trust
combinations In our country, and that II
these are to be crippled or destroyed the
most effective weapon Is free trade In trust
made goods-that Is to say. that goods pro-
duced In other countries OF character and
quality similar to those produced by a
trust In this country shall be placed on the
free list. The effect OF this, OF course.
would be to place all goods Of this charac-
ter imported on the free list. whether COM
petitive goods were made by a trust COM
b.nation or by ipdepe ndent factories COM
petipg with the trust. thus allowing world
wide competition In this class OF goods.
''The plan Is impossible OF execution even
II otherwise effective. as II would lead tc
endless contests and conflicts on the ques-
ton Of what are trust-made goods and
what are goods OF like character produced
here and also produced abroad.
Tariff Not the Cause.
1.-THE basis OF this proposal Is false
one. The tariff Is not the foundation OF
these combinations. nor does II promote
their origin. II cannot be found In our tar
IN laws II II were so found then these
combinations would be confined to those
manufacturers benefited by the tarin. But
II so happens that many of these combina-
lions and the largest Of them. have no re-
lation whatever to the tariff. but have
grown up without tarifr protection. and
wholly outside OF It.
''The Standard OIL trust Is a conspicuous
example OF this There Is not now and
never has been any duty on It's product.
1T Is said there is a beef combination
that is able to control prices and limit pro-
duction because OF the tarin. There isl a
duty upon live cattle Imported. The repeal
of this duty would help rather than inJure
this combination.
Trusts or combinations In our country
have largely increased within the last few
years. not because OF our tariff policy. but
rather because they are part OF the eco
monte evolution taking place In the worlds
production. They exist In all countries
having protective tariffs, and they exist
as well In free trade England Many evils
have resulted from them. bur these evils
cannot be traced TO our tarif policy nor
are they confined to our country. They are
seen on the continent and I'm Great Britain
as well.
Effective control OF trusts must be had
through national and state regulation in
cooperation. Our greatest lawyers believe
tEey can be so controlled. The laws upon
our federal statute books providing a ma
uonal control have been placed there by
the republican party. including the effe ctve
statute passed by the last congress.
1t Is said that our currency system In
defective In the respect that It does not
nave that elasticity I'm volume required by
the commercial activities OF our country
at various seasons and periods Of the year
This is measurably true. but there IL elias
ticity arising from the character of our gold
circulation. as. II more money In needed
for the transaction of business. gold flows
in; II less money is required, and gold is
more valuable elsewhere. II flows out. And
experience shows that national banks ex-
pand their circulation. though not largely.
to meet the varying wants Of currency cir
culation and our credit money. through bank
deposits. gives elasticity to that class of
circulating money or credit.
This subject may be considered by the
congress soon to convene. but am sure
that no change Will receive the sanction
of a republican congress that will SO revo-
lutionize our system as to deprive the gov
eminent itself OF the substantial control
that II now has and exercises over bank
circulation as we'll as over other forms Of
paper money, nor will any modification be
made that will not provide absolute Sc
curity OF the notes issued By or under the
authority OF the government ana their con-
vertibility at the will of tho holder into
gold Z"