Arizona republican., 1910-04-26
NJ M|NC|NG 0F LANGUAGE ssr In His Defense of Tariff
 aW
 SJ .-< VICE PRESIDENT SHERMAN
Pledge Has Been Fulfilled. Protection From Being
 Policy of the Republican
 Party is to Become the ' National Policy

St Louis. April 25.-Predicting that the tariff in general and the Payne law in particular was sure to be the principal issue in the coming cam paign Vice President James & Sher- man in speech tonight said that It was his duty as a protectionist to de fend that policy. The speech was de- lirered before the Citizens Industrial association. He said the policy of pro lection is growing and it is to he ma tiopal rather than political.
 T am one of those old fashioned protcctionists who believe in Ameri- can wages and the American standard of living he said. and that the way to maintain these is in doing our own work Such faith. however. does not rrecluda an occasional revision of the tariff. the changing Of duties either up OF down to meet changing condi- tionS.
 But my faith does include the judg- Incnt that such changes should be named by the friends and not by the enemies of protection. This was our creed and our promise to the people in the last national campaign. and I be- ,ie'-e that we can claim our faith has been kept, our pledge fulfilled and that the tariff has been revised substantially and successfully. No pre- Vicus tariff law ever was more care culIy prepared or more eXhaustiveH considered than the law which went iuto effect last August.
 Tt has now been in operation over ,tipp ,,,n,tfl,s and cam Strftlx the suits and determine whether it is a beneficial measure From the revenue standpoint no question of its success exists During the fiscal year to date. our receipts have been over fifty million more than Garing the core spending months of last year. X year ago there was a deficit of seventy mil lion: now tberr is oily about fifteen millions and it seems quite safe to as sumo that the 'lc(icl will bc small. if not entirely wiped out by the end of the fiscal year.
 'I believe it will not bc questioned that the return to tbe full volue of employment is norc pronounced> Hardly d day passes that we do not note an increase in wages granted by some railroad or industrial enterprise. It is estimated that the advance in wages granted this year is equal to the stupendous sum Of five hundred millions of dollars. While this splen- did result has conc to the wage esrners-and it is q fair assumption that it must come first to the employ ing classes-it has also come in an equal measure to our farmers.
 Some duties may still be too high. some may need no change. and some i, may be thought. should be increas- ed if we are to continue our work and paintain the present volume of cin- ployment and the high standard Of wages and living.
 ''Our imports during the first eight months of the present fiscal year ex- ceeded the corresponding months of last year by over two hundred mil lions of dollars. There are two sisnif- icant features in this state of our for eign commerce. In the first place ii is necessary that our exports should exceed our imports by some three hundred to four hundred millions an- nuaIIy in order to make good our for eign obligations and prevent the cx- port of gold. The second. and to me.
 
 increase in our imports in manufac- tured and partly Manufactured goods is the displacement of American pro- duction.
 -'I will not assert. up to the present time that it has injured any Amer- can industry. With the immense vol ume Of employment that has come with the new tariff law and great increase of wages and consequent pur- chasing power. there has come ah ability.to absorb the imports in addi- ton to the absorption of domestic production.
 No danger need be apprehended of enacting a tariff law which will be prohibitire as lohg as we provide large volume of employment a: high wages for our people; soiong will the ;.ccrung prosperity enable us to buy abroad such quantities of luxuries and to some extent necessities that r.'ll continue to net revenue to meet our expenditures.
 Because believe that we should make at home nearly everything that we can instead of buying it abroad I again emphasize the fact that. while l do not advocate an immediate re- vision Of the tariff. | wish to put my self os record here as insisting that ii is the duty of the business men of fine country to sean closely the in creasing imports to see. if they con ter Co protect our own labor and in