The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1912-10-16
BENNINGTON, VT, OCT. 10, 1917
THE WILSON DANGER


| fronts the country if Woodrow Will
son is elected President of the Unit
| ed States. The Banner does not
mean to say that our Democratic
friends are wilfully trying to bring
disaster upon our New England in
dustrial towns. They are not, but
they are so blinded by the hope of
theoretical success that they are I'M
able TO grasp the logic of what their
own victory would mean.
There is another interest which is
working In harmony with the Demo
Gratis in trying to bring about the
election of Wilson, and that is the
speculative interest, usually designat-
ed as Wall Street, but in effect a
system that reaches all over the
country and into every town where
there are men of wealth, who buy.
stocks with expectation of their ad-
vance.
During the past few days repeated
polls have been taken in Wall
Street, and among the bankers and
brokers at the centers of speculative
interests. These polls have shown
Wilson much stronger than both Taft
and Roosevelt.
At first glance, it might seem that
these interests would be seriously af-
fected by an industrial depression,
but there is another side to the ques-
ton. When the country is as pros
porous. as it is today stock prices are
high, and on a rise. A short sudden
depression would tumble these prices
to a much lower level and men with
ready money could get their choice at
almost their own price.
Even in country towns will be found
bankers supporting Wilson with this
thing in mind. They are not men de
pendent on the banking business for
the chief part of their income, but
men who buy high class stocks for
investment and speculation. If these
prices can be forced down they will
get their pick, knowing that in
short time the voters will return to
the protective system, and prosperity
will come and prices again rise.
1t is not merely the difference in
the actual tariff rate that is a men
ace to the country under the Demo
cratic party. 1t would be impossible
for the Democrats or any other party
to do without a tariff. II is the, diff
ference of application that makes the
important variance. Under the pro
tective principle. the tariff is calculat
ed not only 10 furnish revenue, but
levied with the view of protecting
American labor and American manu-
facturers. Under a tariff for revenue
theory, the tariff duties are calculated
merely to furnish revenue, and with
no study of their bearing on enter
prise and industry. 1t is the differ
ence of principle rather than the act
ual difference of rate that furnishes
the danger.
The tariff for revenue only seems
theoretically correct but is practical
ly ruinous. ALL the great European
countries, except Great Britain, have
tried it to their sorrow. Germany,
France, Italy and Austria after many
years of depression attempting to fol-
low the English free trade theories
have, one by one, taken up the pro-
tective principle and brought about a
new prosperity. England alone has
undertaken to maintain free trade
and tariff for revenue only. The re
suit is that England is the greatest
pauper nation in the world, and Brit
ish laboring men have harder time
than those of almost any other ma
ton.
Only a few weeks ago, a young
Englishman came to Bennington, and
is, we believe. now employed at the
big mill He told the writer Of this
article that it was not the wages in
England that made it so hard to live,
but the fact that almost all indus
tries there are running on short
time. and give their employees only
from three to FIVE days work per
week. This is directly due to the en-
croachments made on England's mar
ket by the protective nations.
There are some districts in Eng
land where from fifteen to forty-fve
per cent Of the people have to be aid
ed through public charity at some
time in the year, and England has
more paupers per thousand than any
other European country.
with our national election only a
few days away every working man,
every merchant, every farmer end
every property holder should realize