The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-04-26
SHERMAN TALKS
ON THE TARIFF
Nice-President in Speech at st,
Louis Stands for tho
Protective Policy.
ADMITS OCCASIONAL
NEED OF REVISION
Defends the New Law, but Does
Not Hold That 1t Is
Perfect.

ST. LOUIS, April 25,-predicting that
tariff in general and the Payne law in
particular is sure to be the principal is
sue of the coming campaign, Vice Preei-
dent James s. Sherman, In q speech here
tonight. said II was his duty as pro-
tectionist TO defend the policy The
speech was delivered before the Citizens
Industrial association.
lie said the policy OF protection is
growing and that 1t is TO be national
rather than a political one.
II am one Of those old fashioned pro-
tectionists who believe In American
wages and American standard OF living,
the Vice president said land that the
way TO maintain these is by doing our
own work. Such faith, however, does
not preclude the occaslon&i revision OF
our tariff and the changing Of duties
either up or down 10 meet changed con-
ditIons.
But my faith does include the judg-
ment that such changes should bs
enemies OF protection. This was our
creed and promise TO the people in
the last national campaign, and be
lieve that we can claim that the faith
was kept. the pledge fulfilled and that
the tariff was revised substantially and
successfully.
Praises Work Done
mo previous tariff law was more care
fully prepared more eXhaustveiy con-
sidered than the Law yhich went into ef-
feet last August. II was not satisfactory
10 all No tariff law ever was or ever
will be. but II was the best law VIC could
set. and It's basic principle is protection.
ut has nov been in opera tlon over
nine months and can study the re-
suits and determine whether 1t is bene-
ncial measure.
From a revenue standpoint, TO ques-
tion of It's success exists. During the fis-
cal year to date our receipts have been
over $50. .0000 900 more than during the
corresponding months OF last year. A year
ago our deficit. that is the excess of or
dnary expenditures over ordinary re-
ceipts. was s70,O0e,0o0: now it is only
about 81. 1000, 600. and ii seems quite safe
to assume that deficit will he very small.
if not entirely wiped out by the end or
the fiscal year.
~ believe IL will not be questioned that
the return 10 a full volume OF employ
ment has been most pronounced. II Will
not be questioned that all our artisans
and mechanics are busy and with Few
exceptions. all our workingmen are well
employed. And not only employed on
full time but at the highest wages in our
history.
Hardly a day passes We do not not.
the increase OF wages granted by soma
railroad or some Industrial enterprise.
And It is estimated the advance in wages
granted this year VIII equal the stupen-
dous sum OF five hundred million dollars.
While this splendid result has come to
the wage earner-and ii is a fair assunp-
ton it must have come first 10 the en-
ploying classes-it has almost come IN
equal measure TO our farmers.
"In fact the reasons for the decrease IN
exports OF food stufs is because the farm
ers can market almost their entire output
at home and at the highest prices ever re-
celvcd by them.
some duties may still be too high and
some need change and some II may be
thought should be increased II we are
TO continue TO DO our work ana Ioati'.S, a,,s
our present volume of employment ana
high standard OF wages and living.
Gain i'll Imports.
"Our imports during the flrst eight
months of the present fiscal year exceed.
ed those OF the corresponding months OF
the last year by over OO,0OOsOp or at
the rate OF over $500 900 900 a year The
Increase i'm the imports OF food stuffs is
almost the whole increase be-
ing III manufactures and material for use
in manufacturing. nine-tenths OF whlch
have been made In this coun-
ITO that, extent then. American pro
duction has been displaced and at least
s250, 600, 900 Of American wages paid TO
foreign laborers-
''There are two very significant fea-
lures Of this present state OF our foreign
commerce. In the first place 1t Is neces-
sary that our exports should exceed our
imports by some $500 900 to 100000
900 annually in order 10 make good our
foreign obligations ana prevent the eA- -
port OF gold.
And the second and 10 me the mora
important feature Of this great increase
I'm our imports in manufactured and part
ly manufactured goods IS the dlsplace-
rnent of American production.
'I Will not assert up To the present
time tx has injured any American INDUS
try With the immense volume Of en-
ployment that has come with the new
tariff law and the great increase IN wages
and consequent purchasing power has
come an ability to absorb the imports I'm
addition TO the absorption OF domestic
production.
Need for Caution.
"And so long as this condition of az
fairs continues and because this Increased
importa ton gives the necessary revenue
To meet the expenses of the government,
we MAY sound no cry OF alarm. But do
call attention 10 this fact Tor the one nur-
examine closely into the matter or In
creased mportations and 10 consider
whether when we again revise the tar
sentiment for further downward revision.
md perhaps. instead. resort to revision
upward In some schedules.
mo danger need be apprcheaded or
,nacting tariff law which Will be pro-
libitive AS long we provide a large
,olume OF employment and high wages
or our people. so long will The accruing
prosperity enable us TO buy abroad such
, quantity of luXurics and TO some ex-
ent necessities, that Will continue To
let a revenue TO meet our expenditures.
"Recause l believe we should make at
,ome nearly everything that we cnn. In
iead OF buying II abroad. | again en-
,hasize the fact that while | do not ad-
'ocate an Immediate revision OF the tar
II | wish 10 put myself record here
IS insisting II is the duty of the business
nan Of this country to sean closely the
imports and sec II they con-
Inue whether II would not be wise TO
title better protect our own labor and
Industries instead of sending abroad our
old to pay cheap labor in foreign coun-
ries.