New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-04-01
CRITICISM
AND BOOK NEWS
The Presidential Campaign Of 1915: Foreign
Policy and Preparedness-A Worthy
Memorial to Horace Greeley

q tariff commission, simply because an
intelligent public opinion is demanding
il and the d-fogeyism which ruled IN
Congress even a Republican House
and Senate in 1909 were opposed 20
creating real tariff commission u
dying away. 49,,
Mr. Fowler Is entitled TO very hlgh
credit for wnat he did TO awaken the
country 10 the necessity Of currency
reform. He fought valiantly in Con-
gross for an intelligent banking system
st time when few public men and
oven few bankers would listen TO ar
euments which they did not care TO
take the trouble TO understand. lie
helped to clear the way for the passage
Of the present Federal Reserve banking
law. lie condemns that law as IN
adequate and az hindrance TO the
proper development Of national cur
rency system based on credit. But
whether he is right in this criticism
or not, it is idle to contend that the
faults of the Federal Reserve act can
be made party issue this year. Nos
one HUI lredth Of one per cent Of the
voters understand the Federal Reserve
act or can be interested at present IN
Il movement 20 amend it.
The merchant marine issue has re-
Gently been pushed to the front by the
reckless efforts of Secretary McAdoo
and President Wilson 10 create gov
eminent owned and operated merchant
fleet This costly and futile project
has found little support in public opin-
ion. Il is likely TO fail, in Congress,
even in its latest modified form. The
United States has not reached the
point Of economic development al which
il requires or can afford to maintain a
great merchant marine. Such fleet
as private enterprise is willing 10 con
struct and operate should be helped
along by liberal postal subventions and
BY subsidies. That is the simple and
rational method which most maritime
nations have followed in stimulating
the deep-sca carrying trade.
We cannot agree with Mr.. Fowler
that a discriminating tariff duty in Ia
vor Of merchandise imported in Amer
lean bottoms is the best means Of en-
couraging a domestic merchant marine.
Such a remedy cuts both ways. IL re
duces customs revenue and destroys
the equality of the protection which
tariff duties are supposed TO afford. i
also leads 70 commercial reprisals. The
middle caused by the discriminating
duty section Of the Underwood tariff
law ought to serve as sufficient warn
ing against the perils of this round
about method Of fostering a merchant
marine.
There is no big party issue in sight
in the merchant marine controversy.
The truth is that the country is now
rightly absorbed with issues which
transcend domestic affairs Americans
are beginning to realize that they can
not muddle along any further without
a clear understanding of their rela-
tons with the rest Of the world We
must have a rational. Ineligible for
eign policy. We must readjust our
military organization to conform with
the objects Of that policy. The most
elaring weakness Of Mr.. Wilson's ad-
ministration has been its failure to
grasp this idea. and the campaign OF
1916 will therefore turn almost exclu-
sively on replacing his inept policy OF
"watchful waiting" with stronger.
clearer conceptions Of American inter
ests. present and future, so far IS the
world about US is concerned.