Bluefield evening leader. [volume] (Bluefield, W. Va.) 1906-1911, 1908-08-27
THE TARIFF
QUESTION

nuehce the election by brine II
is virtually promise of wages n
the Republican ticket Is successsu,
ana an implied threat in case NJ
democratic success: but the offer is
SO made that IL gives the employes
no guaranty OF its fulfilmant Tho
same KIND OF promises were made
In 1896, and yet for six months af-
ter the election times We're worse
than they were before. There were
business failures and bankruptcies
and many institutions that promised
their employees steady work and
! good wages shut down or reduced
wages If any factory posts up the
sign which the Leather Betting
Company is sending out. the en-
ployes ought to get together and
ask for guaranty as to the amount
OF the wages they are to receive and
as to the length of time during
which the guaranty is to extend.
III the votes are to be bought the
purchase price, at least, should be
made secure. If the employees
heritage -citizenship-is to be sold
he ought, at least, to be sure of his
mess OF pottage.
But the whole system is vicious.
Business should not be built upon
| legislation; 1t should stand upon its
own merit, and when 1t does stand
upon it's own merit we shall not
| only have purer politics, but we
shall have less fluctuation in bust
| ness conditions and a more equit-
able distribution of the proceeds of
toll.
| cannot pass from this part OF
my subject, without calling atten-
ton to the fact that Secretary Taft
has allowed himself to be drawn in
to the use of an argument which
the beneficiaries of protection have
been employing for generation.
| Speaking of the gradual substitu-
ton of a revenue tariff for the pro-
| tective system, he says in his notih-
/ cation speech
1.-THE introduction in power of
party with tbs avowed purpose can
not but halt the gradual recovery
from our recent financial depression
and produce business disaster, com
pared with which our recent panic
and depression will seem small in
deed"
Here is n threat of a panic If he
Republican party is not retained In
power. This panic argument was
worked overtime in 1896. but | am
| surprised that a Republican refers
to it in the present campaign.
We have had three panics since
| the Republican party was born; the
| panic of 1878, the panic OF 1893
and the panic of 1907. The panic
of 1873 came after the Republican
party had been in complete control
OF the federal government Tor
| twelve years. and eleven years be-
| fore our party succeeded in secur-
1 ing control of the executive branch
of the government. The startling
| "panic and depression" of 1873 oc-
| Cured in the very midst OF Repub-
lican rule, just after Republican
| victory, and under a high tarin. is
| it not strange that Secretary Iatt
| should forget this panic, when ne
| warns us TO beware Of any depar-
ture from the protective system?
The panic of 1907 came after the
Republicans had been in complete
| control Of the federal government
for more than ten years. They had
had an opportunity to do everything
and they wanted to do and to un-
do everything that needed to be un-
| done, and we were under such
| high tariff that even Secretary Tart
| admitted the necessity Of revision.
| This panic was so bad that banks
1 felt II necessary TO do something
that they had never done before
namely. arbitrarily limit the amount
Of money that depositors could draw
on their own accounts. Ex-Secre-
tary Shaw says that the stringency
of 1907 was "the severest the
world has ever Witnessed with
this panic fresh in his mind, IS IL
not strange that he shouli argue
that his election is necessary to pre-
vent a panic?
have referred TO two OF the
three panics. both Of these coming
under conditions which compel the
Republican party to- accept the re-
sponsibility for them. Now let us
consider the panic OF 1898 II that
could be properly charged 10 inc
democratic party, it would only be
one Democratic panic TO two ne
publican panics. But can it be fairy
charged TO the Democrats? 1t
came it is true, a few months al
ter the inauguration Of Demo
cratic president, but It came VIM.
the Mckinley high tariff was sun
i'm effect and before a single re
publican law had been repealed. and
IT came from causes that were in
| operation before the election. In
fact. It was the failure OF the Re
| publfcau marty 10 do its duty and