The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1911-02-17
TAFT'S TARIFF
INJURIES TRADE
Figures Show Ten Per Cent.
Loss Under Recent Revi-
sion, Says Prof. Fisher,
of Yale
PAYNE-ALORICH ACT FRAUD
Noted Economist Declares
the Presidents Greatest
Mistake Of His Career in
Signing it.

Facts showing that the exports and
imports of the United States have
each dropped off about 10 per cent.
since the enactment Of the Payne-Ald-
rich tariff bill, have been compiled
by Prof. Irving Fisher of Yale, a ma
tional authority on economics, who
looks upon this showing as concrete
refutation of the claim Of President
Taft and others who supported this
measure that it was a downward re-
vision. In the opinion of Prof. Fish
er, as expressed last night, the tariff
wall has only been raised higher, and
this bill instead of encouraging inter-
national trade has discouraged it.
The figures, from which Prof. Fish
er reached this conclusion, are those
furnished by the department Of State
showing the quantities of the various
articles exported from, and imported
into this country during the year 1910.
Those facts have been compiled by
Prof Fisher for publication in his
new book, 'The Purchasing Power of
Money
In arriving at his conclusion, Prof.
Fisher tabluated, as an index figure,
between a third and a half of all the
articles either exported Or imported,
and selected therefore the most typical
articles. such as would most accurate
ly show just how the trade has fallen
off. cit seems to me the tariff bill
was nothing more than a fraud; an
effort to pull the wool over the eyes
of the, people and make them believe
that the party pledge for downward
revision was being fulfilled.
While Prof. Fisher believes that
the tariff is an important question he
does not believe that it is SO bound
UP in the commercial prosperity of
the nation as some people think. He
cited certain other figures from his
coming book showing that the inter
nal trade Of the country amounts to
over $4,000,O00,O00 while the Interna-
tional trade is less than one per cent.
of that amount.
Stronghold of Special Interests
1.-The tariff is moral rather than a
political question he stated. '"The
tariff is the stronghold of the special
interests and from this vantage point
they have been practically ruling the
nation. This is a scandal and steps
should be taken to remedy it." He
then went on to speak of the fight
made by former President Roosevelt
against the special interests and said
that he thought the colonel was lead
ing UP to an attack on the tariff. He
said that he thought Roosevelt recog-
nized that the people needed to be ed
lection up to the point where they
would recognize that they were pro-
tecting the special interests at their
own expense. Prof. Fisher stated that
in his opinion. it was part of Roose-
velt's plan to finally work public opin
ion around enough to make an attack
on protective tariff possible.
Approves Taft's Move
ST am heartily glad to see that
President Taft has taken this matter
up. I think he made the biggest mis-
take of his career in approving the
Payne-Aldrich tariff bill but I believe
he was made to see the measure
through the eyes of others. World
reciprocity now seems to be the
phrase to lconjure with and this is
nothing more than free trade. The
while there were some increases in the
expectation that other countries would
follow suit. The new idea is to make !
before putting the new system into
effect I don't know but what this |
is the better politics. England tried |
free trade hoping that other countries !
would fall in line and are now getting |
tired waiting and are talking going |
back to a protective tariff" Prof. |
Fisher then said that he believed per- |
sonally in free trade although he |
thought it should not be put into eff |
feet all at one time but gradually so |
as not to work unnecessary hardship |
on the special interests who had been |
fostered under protection.
Out of the 25 exports which Prof. |
Fisher examined into and the % i'm
ports. Is of each found to have de-
creased since the new tariff bill. Most |
of these decreases We're quite large |
while there were some increases in the
other articles but they were uniformly
small
The following shows a few of the |
articles contained in Professor Fish
er's tables setting forth the amount
exported or imported in the year 1909
and the amount in 1910:
F,xnOrtS