The comet. (Johnson City, Tenn.) 1884-1916, 1912-10-31
THE WANAMAKER
PROSPERITY PLEA
FaIIaCleS Of His Argument Dis.
S0Cted In Counter Ap-
peal TO Merchants.
FREE TRADE NOT PROPOSED.
Panics Occur Without Regard to Tariff
Revision-5usiness Men Directing
the Wilson Campaign.


the Wilson Campaign.
To the Merchants and Business Men
of the United States:
Mr. John Wanamaker has issued a
mote Of warning" against the "destruc
tion of industries which he says will
follow the election of Woodrow Wilson
TO hark bnck twenty years in Amer
lean industry Is to deal with ancient
history. During this score of years
American Industries have advanced so
far In competing power that a com
l,nrisnn even with 1890 Is ridiculous
In that year our exports OF manufac
lures We're less than two hundred mil
lions in annual value; today they are
at the RATE Of twelve hundred millions
u gnin of 600 rer cent.
How Is disaster to come from the
competition OIL our ground of those
manufacturers with whom we are sue
crSSfully competing on their groundi
II Is II t'ooI time to cry distress when
We are exporting steel manufactures
at the rnte Of ii million dollars daily.
During Mr. Cleveland's first admin
istraiion. 1889 to 1899. there was no
panic there was only prosperity. But
Mr.. WamnIaker forgets this. Mr.. Har
rison. Republican, succeeded in 1899,
serving till lS93 During this time Mr.
Wanamaker himself was in Presi
dent Harrison's cabinet. and 1t was
then the conditions matured which re-
suited IN the panic Of 1893, four months
after Mr. Cleveland took Office the sec.
Ond time.
MIR. Wanamaler quotes from various
sources certain records of distress, but
neglects to say that every one of them
bears date not less than six months
before the tariff bill of 1894 became a
law and, MS matter of fact, before
Its terms were known.
The truth Is that neither a Repub~
lican administration nor a high tariff
Ia any protection against panics, and
they occur. as everybody knows, ex-
cept Mr.. Wanamaker quite without
regard to tariff changes. Our very
worst panics have occurred under Re-
publican administrations.
In 1908 the Republican party In its
platform declared "unequivocally for
the revision of the tariff" but this
promise. soon so recklessly broken,
bad no deterrent effect upon improve
ment In business conditions. 1t can
not therefore be said that the mere
threat of tariff revision causes dis
tress. for there was no doubt In 1908
not only that the tariff was to be re-
vised, hut that It was to be revised
downward.
ignoring the Present.
Most important. however, in Mr.
Wanamaker's letter is his failure to |
refer to existing conditions. He prom |
ises all sorts of disaster In a very |
general way, but has nothing to say |
about current facts of Industry. For |
example. 1t has been well known since
1910 that the public demanded the
downward revision of the tariff which
Mr.. Taft promised and later denied
Democratic house of representa-.
tives was elected in 1910 on that spe
cial issue. That house passed q series
OF tariff measures. some of them over
the presidents veto. On each of these
measures a number OF Progressive Re
publIcans voted with the Democrats
One Of these bills reduced the duty on !
steel Yet. although revision of the
steel schedule was and is pending. the
steel industry has revived. prices are
advancing and straugest of all, from
Mr.. Wanamaker's point of view. large
Investments are now heing made in
new steel plants.
If the danger that Mr.. Wanamaker
foresees is real how is it that these In