The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1915-12-16

The reserve bank act cannot properly
be called democratic measure, for
with the exception of a few slight
changes, it was enacting into law a
bill prepared by the republican party.
This measure is about 80 percent re-
publican and 10 percent democratic,
and want to say to the bankers and
people of the country that this law
will never work satisfactorily until it
is made 100 per cent republican, for
one of the fundamental principles Of
the republican party is honest cur
rency and sound and efficient banking
laws. But the achievement of which
the democrats are especially proud
and of which desire to speak at
more length, is the revision of the
protective tariff laws.
Revision of the Tariff.
A great many people have been led
to believe that it makes little differ
ence whether our tariff laws are re-
vised by the republicans or demo-
Gratis. Let me remind you, however,
that right here is where the two par
ties radically disagree. A democratic
revision of the tariff is invariably fol-
lowed, as you all know, by business
and industrial depression, unemploy-
ment of labor and hard times general
ly-while revision of the tariff by
the republican party always brings a
business and industrial revival, good
wages and prosperity. A democratic
revision brings US nearer to a revenue
tariff while republican revision pre-
serves and perfects a protective pol
cy. The difference is not so much in
the amount Of tariff that is levied as
it is in the kind of tariff that is i'm
posed. l have not the time now to
discuss this question at length but I
want to call your attention to this
fact that the present democratic
tariff law followed the old and thread
bare doctrine Of the democratic party
of revenue tariff: It is in substance
the same kind of a reduction that was
brought about by Grover. Cleveland
and it has had the same effect on the
business of the country. What is
this old thread bare theory Of the
democratic party? What is a~reve-
nue. tariff 1t is tariff that is framed
mainly for the purpose of getting rev.
enue. It is intended that it shall not
give any substantial protection to
American industries-it is also levied
on articles imported into this country
that cannot be or are not produced
here. In other words it is simply a
tax. Now, I want to say with en-
phasis, that a tariff placed on imports
only for the purpose of taxation can
not be defended, because if a duty is
only tax you compel the poor man
to pay just as big tax as the rich
man, and I submit to you that this is
not fair.
Republicans in the past have dis
agreed as to the amount of tariff
that ought to be imposed but they
have never disagreed on the point
that our tariff should protect Ameri-
can industries, American agriculture,
and American labor. We must al
ways bear in mind that - our party
does not stand for any certain sche-
dule Of duties. It only stands for du-
ties high enough to protect our own
markets. This protective policy
formed an important plank when the
party was first organized. One of the
chief planks upon which Abraham
Lincoln stood when he was elected
president Of the United States was
upon protective tariff plank, and if
I had my way about it, I would put
this Abraham Lincoln tariff plank in
to the republican platform in 1915.
This is a platform upon which we can
all get together. It is as sound in
principle and as important for the
welfare of the country now as it was
in 1861. Let me read it to you:
"That while providing revenue for
the support Of the general govern
ment by duties upon imports, sound
policy requires such an adjustment of
these imposts as to encourage the de-
velopment Of the industrial interests
of the whole country; and we COM
mend that policy of national ex-
changes, which secures to the work.
ing men liberal wages; to agricul-
ture, remunerating prices; to mechan-
les and manufacturers, an adequate
reward for their skill, labor and en-
terprise and to the nation, commercial
prosperity and independence"
Minnesota's prosperity depends up
on the prosperity of the farmer-the
democratic tariff law made goat out
of the farmer. It practically compell-
ed the farmer to sell his produce in a
free trade market. To beat down the
farmers nrices thew filled n1,r roarlxo+c