The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1904-11-08

? Oere0 TO tnelr OlcIdIlOn.
The recommendations of the COM
mission were spurned, and in the bill
finally passed it is computed that the
average rate of duty on imports was
actually increased, instead If being
diminished. That the oil
the land who then asked for bread
were given a stone. is proof of the fu-
tility Of any hope for tariff refOrma-
ton by a party tied hand and foot in
the bonds of ~sordidness and reckless
greed. Upon the evidence supplied
by this incident, 1t is Incompetent.
. sible hat the pretense should longer
be tolerated that none can be trusted
TO justly relieve the people by tariff
revision except the friends of radical
protection.
II was under the operation OF this
d~isgraceful outcome of a delusive show
of tariff reformation by its friends
that the battle of 1884 was fought
The average rate of duty on imports
then prevailing was something over
forty-fve per cent; and this rate the
people by their verdict at the polls
condemned as unnecessary and un-
Just. and Denounced its exactions a.
no better than robbery.
I have ventured to remind you OF
these Incidents for an especial pur-
pose. I desire to direct our atten-
lion to the fact hat in the contest
of twenty years ago the tariff the
existing was condemned because in
n Of itself. without accomuiices or
"icious associates. it was guilty Of de-
spelling u people in their homes.
Trusts and combinations did not then
appear as its confederates. If they
existed II all. they were infant in
dustries, too few and too young to be
mentioned in the platform Of eithe.
of the great political parties. and too
newly born to be the companions of
such other infant industries as though
still unweaned, had actually grown
gray at the breasts Of sinfully H.
dulgent tariff protection.
The multiplication Of this new rae
Of infant industries oon grew to b.
wonderfully in excess Of ali other.
birth rate records. In 1888 they had
attracted attention enough to be de-
nounced in both party platforms. The
precocity of these infant prodigies ran
far ahead of the most exaggerated
imagination OF parental pride. Be
fore they were Il day old they recog-
niZed in the policy of high protection
the way to growth and strength and
wealth. Though it is sometimes now
said that the tariff has nothing to do
with trusts. Mr.. Havemeyer. the most
competent of all men to give expert
testimony on the subject. has de-
clared; The tariff is The mother of
trusts" and the trusts themselves
were p%recocious enough to know this
stance.
They knew Thai tariff protection
builds a high wall around American
industries which guards them against
competition or disturbance from
abroad, and they know that nothing
prevents the raising of prices to the
full height of this wall except COM
petition among these industries them
selves, resulting in the underseIlins
of each other at home and within the
fortified area of their operations.
They knew hat this barrier standing
between our consumers and the eS-
action Of prices as high as the wall
of tariff protection, must be removed
and the margin between prices Is
modified by home competition and
the prices attainable without such
competition, be under the control of
these industries, if they were to en-
joy to the fullest extent the fruits
Of government favoritism. They knew
that home competition could be elimi-
mated by such agreements among the
industries interested, as would reg
ulate prices and production and con
management; but above all
things they knew well, that all
devices would entirely fail to accom-
plish the result desired, if any breach
in the wall of protection against for
eign interference was permitted; and
they knew that the higher this wall
raised the greater would be the
scope for their extortionate machina-
tons.
Nor is it alone in this direct and
palpabIe way that high protection
is an essential factor in industrial
Those who manage |
these affairs take into account and
consider as an asset of their under
taking the increased profits which
must result when tariff protection is
coupled with the suppression of home |
competitions; and counting this as
money in hand they are enabled ~
venture confidently upon the pur- |
chase of similar independent enter
prises at high valuations. paid in |
watered stocks, or to force their CO. |
by threats of ruinous at
= |
Schemes of this sort, secured |
foreign Interference by a |
protective tariff and shielded from |
domestic disturbance by covenants OF
joint participation and defense, when
and fully under way, |
enhance their profits by what is called
economy in administration. which is
another phrase for consolidation of
management, but which really means
work for many employees and Ia
and the reduction of wages
20 h lowest possible limit
I have said that the higher the wall
Of protection was raised the larger