Year: 1878




chants begin very generally to complain
Of ten, when asked what they think the rea-
son for this, answer unhesitatingly that the
universal dread of Congressional interfer-
ence makes everybody reluctant to buy or
make business engagements. III Congress
were not to assemble this winter at all
believe trade would 60 on and there might
be, by December, 1879, very fair re-
vival of industry" said New York mer-
chant the other day and added, II desire
| judicious revision of the tariff : think it
| necessary for the country; the Wood tariff
was we'll meant, but the agitation of 1t in
| Congress at the last session alarmed every
body and actually brought large part OF
the business Of the country almost to
standstill and after all the trouble it made
it did not pass. If we are to have the same
farce repeated this winter at Washington
good many of us merchants might as well
shut up our warehouses and 60 to sleep
until Congress adjourns, if only we could"
There is great deal of sound sense
in what this merchant says. The
HKRALD believes with most men that
the present tariff ought to be thor
oughly revised, but we see also that
the agitation Of this subject at present
and IN the prevailing condition Of trade and
industry is injurious and injudicious. We
should be glad to know that Mr.. Wood and
other members Of the Committee of Ways
and Means saw this, and would de-
termine not only to leave the tariff,
and indeed the whole revenue sys-
but would before Congress assemblies in
some way give the country public and def
mite assurance to this effect. It is entirely
certain that the present Congress has no in
clination to make proper and needed
changes in the tariff Mr.. Wood undoubt-
edly thought better of Congress and his
party than they deserved when he believed
that his bill would pass at the last session.
It never had the favor of q decisive major
| ity Of the House, and if It had
passed the House the Senate would have
amended it to death. Meantime there
| is no doubt that the months of agita-
ton of the question created . general
alarm and uncertainty among business men,
which had q paralyzing effect and worked .
great deal of needless injury to the coun-
try. To repeat all this at the coming session
would be only to keep large part of the
busin ess Of the country for three months
more at standstill, and for no good end,
because no changes in public opinion en-
courage the hope that the opposition to
tariff revision will be less obstinate or
powerful than it was at the last session.


We suggest to Mr.. Wood, therefore, that,
as Chairman of the Committee of Ways and
Means, he ought at once to get the views Of
the members OF his committee, which is
charged with the consideration of this
subject, and try to get their unanimous
consent to public and immediate
assurance that, unless specially instructed
by strong majority of the House, they will
not report or even consider any changes
in the present tariff We have not
the least. doubt that the committee
will consent to such an announcement
if their chairman requests them to- We
do not recall any member who would be
likely to refuse, or who is very urgent for .
new attempt in the present Congress after
the experience Of the last session. They all
see that the probabilities of carrying any bill
they would report are very slight and we
presume all of them have been told by their
business acquaintances that the agitation of
the subject is SO injurious that unless there
is strong and well founded hope of success
it is inexcusable.


i NJ 20 -; ;o<o
in this important matter, because it is GER
tain that the country would be benefited
| by an early assurance that it need not fear
any interference at the coming session.
If such q pledge were now given
importers, manufacturers and dealers
would know that they had fourteen months
before them in which to plan and carry on
their operations without fear Of changes in
very complex law; and for the pres
ent what everybody wants most of
all is stability. We have got. otter
long waiting, substantially stable
| currency, and, no matter how the Novem-
Der elections 60, everybody knows that the
approaching session of Congress can-
not make any change Of moment, ex-
cept for the better, in the currency.
laws. There is likely to be a great
deal of acrimonious discussion Of this
question, but the Resumption act cannot be
repealed, and except some now unfore-
seen financial catastrophe alters the condi-
ton of things essentially we shall see
the currency remain during next year
as steady as it has becn during the past
spring and summer. II to this could now
be added an official assurance that there
shall be no attempts at tariff changes at the
next session thousands of business men
would be relieved and would prosecute
their affairs with new cournge and enter
prise.


We repent, that what the country needs