Evening star., 1925-06-12

since the investment bankers began
to make heavy loanA to Europe, ever
since, in fact, the details Of the
Dawes plan became known and the
European countries began to argue
for lower tariff wall in order that
they might pay their debts in goods.
Sir Esme Howard. the British. Am
bassador, contributed few thoughts
on the subject in public recently
which were taken to heart by the
Republicans. and 1t now has become
apparent that many bankers want
the tariff reduced so as to accom-
plish a better trade relationship with
Europe and to assist thus in the ul-
innate payment by Europe of its
debts.
The discussions between bankers
and Republican leaders. particularly
influential members of the Senate,
have been In progress for some time.
1t was hardly noticed at that time
that Senator William M. Butler Of
Massachusetts,, chairman of the Re-
publican national committee, issued a
warning to the bankers that the tariff
would not he reduced, but neverthe-
less the speech was part of the move
ment to combat the tariff agitation.
And before long there may be other
utterances from the Republican wing
some merit In a reision of certain
schedules of the tariff, it would be
unwise to tinker with the tariff just
before a Congressional election, for if
there developed a defiation in wages,
the resentment of the labor vote
might be sufficient to turn the tide
and cause the loss of the two houses
of Congress.
Farmers Ask Relief.
How after the Western trip taken
by Mr.. Coolidge it has become evil
dent that another line of attack on
the tariff is being organized in the
West and that farm communities
which in the old days shouted loudest
for the tariff are today clamoring for
relief against the high cost of the
articles they purchase and the inef.
fectiveness of the tariff in protecting
them by keeping the price of wheat
high.
If, therefore, there should be a re-.
vival of the old tariff revolt which
began in Iowa in the days of Dolliver
and which led to the insurgent move
ment of 1912, the cuStodianS of the
Republican party's fortunes will not
have, as before. a solid Eastern 'front.'
but will find themselves weakened in
the very strongholds of protection.
Some of the strongest Republican
Senators are reported to have said
privately that they believe some re-
vision was necessary, but they did not
know whether it was politically wise.
There are some important conferences
going on between the high protection
lists, who insist it would be ridiculous
for the Republican party to reduce the
tariff and that a revision once at
tempted would lead to abuses through
a combination of Democrats and low
tariff Republicans.
The problem, however, is not alto
gether in control of the high-tariff Re-
publicans, and that is what is causing
all the worry and apprehension. even
so early in the Summer, with the ses-
sion of Congress nearly six months
away. Yet when Republican scouts
report that in farm regions of the
West the farmers are discussing a re-
duction of the tariff, using arguments
which have a familiar ring, there Is a
suggestion that some Eastern bankers
have not hesitated. through their
Western connections, to make plain
why the tariff should be reduced.
Mr.. Coolidge found much food for
thought in his contact with the West,
but. primarily, he discovered that the
West is not as happy as it might be
on the tariff question. D. L.
Copyright. 1e25.)