The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1904-03-11
PANIC SURE TO FOLLOW.
Protection and Subsidies TO Favored
Industries Have But the
One Result.

III there Is one country on this green
earth that enjoys more tariff "protec-
| ton and that shows more favoritism
TO monopolies and trusts than does
the United States, that country Is Rus
STA. Although Russian protective duties
may not include as many articles and
protect as many industries as do
our Dingley duties, yet Russian
protection is intended TO result in com
plete monopolies. or trusts. in many
important industries. Expectations
have been fully realized. Trusts and
monopolies now flourish in Russia.
But the Russian peasants are impoyer-
ished as never before.
The worst industrial and financial
crisis in Russia's history is now on
there. II is so serious that even the
controller of the state 70 the car is
compelled to attribute it 10 the over
stimulation of domestic indNtsies by
protective duties and government sub
sides.
The late minister Of finance. VI.
White. was a consistent advocate of
the policy OF granting subsidies out Of
the state bank 10 everything He had
extremely high import duties put upon
the products of manufacturing indus
tries which he wished to foster and
then he gave large government or
ders at high prices TO these protected
manufacturers. This policy was in
adgurated. or rather greatly extended,
some 10 years ago The favored manu-
facturers prospered as long as the gov
eminent could continue to give big or
ders for goods ar two three. or four
lines the cost of these goods II pur-
chased from foreign manufacturers
and as long as the Russian people
could stand the strain of high taxes
and high prices for most that they
had to buy But by 1897. the peasan-
try OF Russia were behind $4,000, 600
rubles (s4s ,00o.000) in their taxes and.
by 1903. their overdue taxes had in
creased TO l2l. 100000 rubles. These
arrears. even after granting extensions
OF time. are now so great that the con-
troller says that more radical meas
ures are necessary" to relieve the rural
population OF fiscal charges they are
not in a position TO bear"
The plain meaning of this is that the
policy Of protection and subsidies has
been so disastrous to Russian farmers
that even autocratic Russia will never be
able 10 collect these back taxes and now
has to admit that she has Overcome her
policy Of favoritism
II takes a greater country than Russia
10 endure the burden and blight Of pro-
lection and subsidies. such as the repub-
licans have given us here ard under
which our marvellous country is now
staggering even while IL Is blessed with
a succession Of crops never before real
tied by any country on earth. To claim
that the Dingley bill has given us what
prosperity We have had since 1897. is as
absurd as to claim that wagon with a
heavy load will run easier up hill and
through sand than will an empty wagon |
on a smooth. hard and level road
Neither in Russia. nor in the United I
States. nor in any other country were |
farmers ever made prosperous by high I
tariff taxes. Their prosperity will al
ways be increased by relieving them OF /
the burdens OF taxation for protection |
and for subsidies TO manufacturing in
dustries.
r.