Evening star., 1924-10-24

tinuing a policy of drastic economy.
"A very material part of our reve-
nue. comes from the tariff, which is
now running at the rate of about
$3.50, 100000 per year. This is not
withstanding the fact that we have
the lowest tariff which the Repubn-
can party has enacted since 1890, and
that it is even lower than the Demo-
cratic tariff of 1894. Nearly 81 per
cent of our imports are on the free
list, while the average duty on all i'm
ports is less than Is per cent. Under
it. in spite of prophesies to the con-
trary, our foreign trade has greatly
increased. 1t has been constantly as
serted that what the farmer buys is
protected and what he sells is not
protected. Almost everything that is
used in the business of farming as a
matter of fact is on the free list,
while almost everything the farmer
raises is protected, from the nuts and
citrus fruits of the Pacific Coast, through
the sugar, grain and animal products
of the Central West, to the dairy and
tobacco products of the East. Without
such protection many of these farm
products would be destroyed by for
eign competition. When we turn to
our industrial life, we find that the
wages, both in rate and buying power
of the American workman are more
than twice that of the best paid for
eign labor. Compared to 1913, the ad-
vanceS in the wage of union labor is
SO per cent, while in the ordinary living
costs it is only about 90 per cent.
American industry cannot exist,
American wages cannot be paid, the
American standard of living cannot
be maintained without protective
tariff
Under thi~. policy OF peace. econ
omy, reduction of taxes and protec-
ton the business of the country has
very generally revived and brought
us into an area of more than average
prosperity. Agriculture, however, NOT
only suffered first, and in many re-
spects most, but has been the last to
recover. In spite of the fact that
prices for the great staple of wheat
corn and animal products are now
at much more encouraging level
nevertheless the farmer has not been
able to restore in one season the
losses ne has encountered in the four
preceding seasons. Agriculture must
be placed on permanently profitable
ha lis. where it can enjoy economic
equality with other industry.
Disdains Responsibility.
Much discussion has been made re-
garding the Government policy of de-
flation. There has been much debate
whether raising discount rates by
the Federal Reserve Board up to
per cent was the reason for the col
lapse in farm value, / do not wish
to consider that question, but I should
like to have it made plain that this
action took place before this admin
istration came into power, and what
ever damage there was had already
been done. 1t has been the policy OF
the present administration constantly
to favor the reduction of discount
rates This has been done, until they
now range from to ~ per cent
This admin >tration has constantly
sought to prevent further defiation
by encouraging all kinds of business
in order to restore prices of agricul-
tural products to point where they
would show a fair profit. The gen.
eral business depression had reached
its lowest depths in the Spring of
1921, and since that time there has
been a gradual recovery, which has