The Taney County republican. (Forsyth, Mo.) 1895-1992, 1910-10-20
Campaign Letter.
New York, Oct. IS, 1910

1he arrogance of Democratic lead
: ers in not only assuming that they
e will control the next House of Repre-
= sentatives, but in declaring that they
E will pass tariff-for-revenue-only bill
= makes this an issue that over-shadows
S every other question of the campaign
, Whatever difference of opinion there
may be concerning the present tariff
there can be none from a Republican
. standpoint united Republican stand
point regarding tariff-for-revenue
!. only which means, free trade.
We must have government revenues
annually amounting to over $500, O,000,-
900, half of which must come from
customs duties-in other words we
must so adjust our tariff as to bring us
$3.50. 100000 from duties on imports
We can do as Great Britain does, tax
tea and coffee and other necessaries
which we do not produce, or we can
lower the duties on competing pro-
ducts so low that immense importa-
tions will be necessary to produce the
desired revenue. :
Suppose the average duty were put
at 10 per cent. That means to raise
the necessary $35O,OOO,OOO revenue,
importations amounting in value to-
So, 100000, 900 and that does not in
clude imports free of duty and with
largely increased free list such as is
promised or threatened by Champ
Clark & Co., we may well put the esti-
mate of imports at SIS, ,OOO.O00,00C. a
large portion of which will replace or
drive out American production. And
further bear in mind that 90 L.r cent. |
of this represents labor.
One third to one-half OF our work
ing men are thrown entirely out of
work at once, and the wages of those
remaining at work must be most sub |
stantially reduced. That loss of pur
chasing power hits the farmer who
realizes no profits on his years work,
and he stops buying all luxuries and
many necessaries. Then the railroads
are affected, and men must be laid off
and wages reduced Then follows
the closing of jobbing houses, the
failure of merchants and ruin and want
in many homes. We thus pay the
price-an awful price-for an expert
ence that might have been avoided.
But the closing of factories and the
reduction of wages is not all that fol-
lows buying abroad what we can make
at home. These goods must be paid
for and in gold. Before we buy dol
lars worth we owe $500, 100000 or
$4OO,OOO,OOO abroad for our freight
bills, interest and dividends on foreign
investments and tourists exchange.
An adverse balance of trade then
means drainage OF gold, means
scarcity of money, means the closing
of banks and the bankruptcy of cor
porations, firms and individuals. It
means 1887, 1857, 1873 and 1898
and worse.
But after a few months, when our
foreign competitors have gained our
markets and closed our mills, prices
will quickly go up, and for while {
perhaps years, we shall be at the
mercy of the foreigner. We will not
buy so much, for suddenly we will /
have become a poor, incomeless peo-
pie, paying the price of folly, SO far as
We have anything with which to pay.
This is no economic doctrine, it is
practical result. We have tried it, we F
nave had the real genuine experience, II
not once, but several times. Are we
going to try it again? The election a
IN November 8 will tell the tale. A
Democratic House of Representatives
will be the first step, as it was in 1890.
Then if we repeat the result in 1892
n 1912 we may look for worse fnan-
.ial and industrial conditions than we
lave ever known. :,
On the other hand the election of
Republican House of Representa-
ives next month means two years
more at least of sound stable business