Arizona republican., 1921-03-20
SUNDAY MORNING, MARCH 20, 1921
What sublime doctrine tt is thdt goodness cherished noaU IS eternal hfe already entered on.
 -Cho,ani,ag
Two Revisions

It appears to be the disposition of congress to take up the subject of tariff revision in advance of any other remedial legislation In normal condi- st0os that would suggest itself of prime importance for the tariff inadequate one a fact disclosed long ago 1914 when the world made practically unnecessary for us any protective law. erected this country such barrier protective tariff law could have done
 The effect of the Underwood had already be- gun to be in the cessation of industry, in the increasing volume of unemployment. in lengthen ing of the bread line and in the multiplying of Kitchens.
 And. since the war; the nations with whom our manufacturers and farmers would ordinarily been brought into competition have not yet recovered from the paralysis of production but they rapidly recovering that may be expected unprotected to feel the disastrous effect of their com petition.
 But there is another condition that has interposed and that must first be met-the removal of the de- preston from American industry. in consequence of the withdrawal of some. billions of capital which now iies in frozen state in exempt securities; which is available the use of the farmer who needs it did before. and by the withdrawal of which the country has been deprived of its pur- chasing power.
 We need only to ask the Arizona cotton growers, the cattle growers and growers what is the most needed in this country.
 All of them in the distance the menace of foreign competition, but nearer hand they view their heplessness in face of marketless produc- t3en condition directly related to lack avail able money. Generally the situation is the throughout the country
 We have had here within the last brief closeup illustration of the effect revision in incident attending the sale of something than half million of municipal bonds. The repre- sentative of bidder attempted withdraw his bid offered weeks the ground pr- 1ie hensive of federal tax revision which would make tax-exempt securities less attractive. That meant that the bond buying firm feared what country large hopes that less money tied up such securities that of it would be released for the stimulation of industry. directly indirectly. The sooner the for such investment exempt securities is removed lessened. the less money will so sequestered
 But the need of tariff revision is only less urrent Though both revsions cannot go quite hand in hand the less urgent may follow closely upon the heels of the urgent that the country may relieved of the evil and protected against the certainly threatened one
 But the agricultural producers of the country need immediate aid from the government to enable them to market their products at price equal to the cost of production plus living profit. Any perma- uent tariff bill necessarily recognize the need of affording adequate protection the producer of raw materials as well manufactures In other vords sthe products of the farm, mine factory r,u.t be protected in justly balanced tariff To ffll the gap until sound, comprehensive tariff hin fs passed. we believe that President Harding s,ould exercise the powers vested in him by the Lever act by declaring temporary embargo on agricultural products.