The Birmingham age-herald., 1912-08-17
BUSINESS CIRCLES ARE NOT ALARMED Do Not Fear Sweeping Dem-
 ocratic Victory WILSON NO MENACE Platform and Speeches Have Already Made Plain That Party Will Not
 Plunge Into Wholesale
 Slaughter
WILSON NO MENACE
BN C. E. STEWART.

Washington August 16.-tSpecial.)- From all accounts the business interests of the country are not throwing. any fifss over the coming election, as is usual ly the case in campaign years. If there is any bad news in the Various political platforms to the legitimate business Of tie country, they have not evidenced any alarm over the situation up to this time
 The truth of the matter is that the busi- ness. interests n the United States recog- nize that public sentiment is behind re- duction in the tariff, and they have recon ciled themselves to the fact that it is bound to come and they know that busi- ness will be given plenty of time to ad- j;st itself to the new conditions
 The business people believe that Wilson will win. His speech of acceptance has ieassured those who were inclined to be- lieve that the democratic party would
 without considering conditions, plunge into a wholesale destruction of all tarit laws for the mere sake of reduction,
 without considering the question of eeo- homie relations to the existing tariff laws in this country and the difference in the costs of production at home and abroad.
 Taft in his speech of acceptance at tempts to show that the democratic plat form is menace to American institu- tions, and that if the democratic pro- eramme is carried out the country will undergo general depression in business as a result.
 He then points out that there are cer- tain exorbitant tariff rates covering cer- tain articles that ought to he revised, but he againt offers d promise of relief through his tariff board, which is to laugh The republican party fooled the country once by declaring for tariff revision and then took refuge behind the tarin board, which President Taft has used as an excuse to veto the only tariff legislation tending to reduce the cost of living offered the country since he has been Presiden~
 The tariff plank of the republican party fer 1908 was as follows:
 ''The republican party declares unequi- vocally for a revision of the. tariff by d special session of the Congress immedi- ateIy following the inauguration of the next President. and commends the steps already taken to this end in the work assigned to the appropriate committees of Congress, which are now Investigating the operation and effect of these sched- ules In all tariff legislation the true principle of protection is best maintained by the imposition of such duties as will equal the difference between cost of pro duetion at home and abroad, together Nith reasonable profit to American in- dustries We favor the establishment O. a maximum and minimum rate to he administered by the President under Inn
 tations fixed by law, the maximum to be available to meet the discrimination by foreign countries against American goods entering our markets, and the minimum representing the normal measure of pro- duction at home, the aid and purpose of the republican policy being not only to preserve. without excessive duties the se- curity against foreign competition to which American manufacturers, farmers and producers are entitled, but also 'o ma ntan the high standard or living ot wage workers of this country, who are inc most direct beneficiaries Of the pro tective system.
 After this declaration. which every one took to mean 6 revision of the tariff downward the republican party pro- ceeded to revise it upward with the IaNne-Aldrioh tariff act, which is stil the law of the land and which President l Taft has blocked every enort to remove | from the statute books.
 l Not one word was said of tariff board; the tariff board was an after-
 thought to be used as an excuse for block l ing legislation after tho democrats got cor trol of the House.
 l In the tariff plank the democratic party | of 1912 which declares for a tariff for | revenue only. or in other words tariff 1 that will mairtain the difference in the | cost of production in this country and
 the cost of production abroad, declares | in enc seatence; We recognize that our 1 system of tariff taxation is intimately connected with the business of the coun- | try, and we favor the ultimate attain iacnt of the principles we advocate by
 legislation that will not destroy or in ! lure legitimate industry
 | It is not the purpose of the democratic | leaders in Congress or Woodrow Wilson
 siould he bhcome President to reduce the | cuties on any article manufactured in | a foreign country that will come into
 competition with a like article in this
 country below the difference in the cost | of the foreign article and the domestic | ant ticle. But they do propose to make ths taIiff adjust these differences as nearly
 as can be scientifically determined, In | crder that the consumer at home may be