New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-01
The Tariff Bill

Inc iaritt Bill
The Republican national platform
OF 1920 recognized the difficulties of
postwar tariff making. 1t said:
THE uncertain and unsettled con-
dltlon OF international balances, the
ABNORMAL economic and trade situa-
ton OF the world and the impossible
ity of forecasting accurately even the
near future preclude the formula
ton OF a definite program to meet
conditions year hence. But the Re-
publican party reaffirms it's belief in
the protective principle and pledges
itself to revision of the tariff as
soon as conditions shall make it nee
essary for the preservation of the
/ home market for American labor,
agriculture and industry"
So the platform on which the pres
ent Congress was elected recognized
the new factors-that the war had
made the United States an exporting
and creditor nation. Not only is our
ancient debt to Europe extinct, but
we have placed loans there, public
and private, estimated in excess of
SIS, 600, 100000. We have, therefore,
new outlook so far as foreign trade
is concerned. Formerly we were alb
sorbed in fostering industries here
and developing home market for
them. Now we also have the world
market to think about.
Congress passed at the last session
an emergency tariff bill intended to
relieve American agriculture, then
distressed, from the pressure Of for
eign competition. President Wilson
vetoed it. 1t was repassed at this
session and is now in operation, but
has not had much effect.
The permanent tariff bill, just re-
ported, has necessarily a wider scope.
1t is, In one aspect, reenactment of
the Payne tariff bill Of 1909, strictly
protective in character. How effec-
tive it will be in that sense remains
to be seen. It rightly applies the
protective principle in seeking to es-
tablish an American dye industry,
freeing this country from danger
Gus dependence on Germany for
products of essential military value.
In another aspect it marks a re
turn to the rational reciprocity the
DRY Of the Mckinley tariff act. Sec
rotary Blaine induced Congress in
1890 to look upon the tariff as a
means of extending export trade as
well as means Of restricting import
trade. Even thirty years ago he be-
loved that the time had come for a
scientific tariff-a bargaining tariff.
That sort of tariff is certainly need
ed now. 1t is to the credit Of the
Fordney bill that it confers unusu-
ally broad reciprocity and retalia-
tory powers on the President, and
thus recognizes that tariff rates have
useful national purposes beyond pre-
serving the home market to home in
dustry.
Tariff psychology has changed
since the war. Even as late as 1909 a
tariff bill was the subject of violent
public and partisan controversy. 1t is
likely to be much less so now. The
claims Of foreign trade clash with the
claims Of protected domestic trade.
What has to be sought is compro-
mise between these claims-and not,
as formerly, compromise between
two distinct groups, one favoring a
tariff for protection all along the
line, the other tariff, protective or
non-protective, for revenue purposes
only. 1t is significant of the new
temper of to-day that the National
Lumber Manufacturers Association,
at its annual meeting in Chicago last
spring, should have passed this
colorless resolution on tariff revi-
sion:
"Wheveas, Tariff legislation is ex-
pected; and,
"Whereas, Business waits upon
decision of this matter which so di-
rectly affects it; therefore, be it
RESOLVED, That we petition the
Congress of the United States to do
promptly what it is going to do in
the way of tariff enactment"
The country wants a balanced
tariff. The new permanent measure
will succeed or fail in proportion as
its final draft approaches that
standard.