Democratic Sentinel, Volume 17, Number 28, Rensselaer, Jasper County, 4 August 1893 — WHITNEY FOR TARIFF REFORM. [ARTICLE]

WHITNEY FOR TARIFF REFORM.

Ex-Secretary Whit, t-y is clearly of opinion that if tariff reform is to wait for the complete rostoration of business confidence it wil have to wait a long time. He looks upon repeal of Ihe Silver purchase provision of the Sherman law as “a pal native not a panacea.” Ht savs: “The silver scare will not be long over before some other scare will begi" unless we go to the bottom of the trouble and get the business and industry of the country off the artificial basis upon which it is being conducted and upon solic ground again. The country’s prosperity will never be permanently established while an annual tax of three or four hundred millions is laid upon»its indus'ries. The silver scare once out of the way, there should be no delay about tariff reform.” There is good, solid sense in that The trade and industry of the coun try must be brought down to a solid basis before prosperity will cease to be spasmodic and enter upon a steadily progressive course Un til then one scare will follow another indefinitely. Under the existing system great branches of in dustry aie on an artificial legislat ive basis, and such a basis is ne ctssarily unstable. Those who co’d prosecute their industries better without legislative props imagine that they are dependent upon such

support and that is practically as bad as if their imaginings were realities. Each recurring election of congressmen or President brir gs its terrors,the consequences are magnified, delusive expectations are beggotten or groundless fears are excited, there is an endless alternation of elation and depression. Here is a case which illustrates the practical working of the principle: The ‘Textile World’ states that four new plush factories were established in the first half of ’92, and none at all in th<> first half of ’93. The McKinley act gave greatv ncreased protection to the Ams erican manufacture of plushes,— Great things were expected from this legislatio j. The plush industry for the supply of the American market was to be transferred to I his country. Soon the protectionist organs announced triumphantly that an English concern had-start-ed a branch plush factory in Connecticut. But long before the last presidential election these same organs printed a dispatch stating that the working force u this branch factory had bee.: reduced from 500 to 300 on account of li lit

demand, and since then the machinery for the manufacture ot plush hm been replaced by machinery for the manufacture of velvet. Very soop after the passage of the McKinley act wagep were reduced iu Pennsylvania plush factories on account of small; sales. In this case 'egislation raised hopes nd utterly failed to accomplish its purpose. The result was waste of capital anil reduction ot wages. In other cases there is a temporary realization of hopes, fol owed by fierce competition, overproduction, failures a d a dis* charge of workmen. In order to obviate some of these results com-, binations to restrict production and maintain prices have sprang up in every direction. Thesb are some of the natural fraits of our art ficial system. Under a natural system such fruits would be re. duced to a minimum, because 1 the factors entering into business caL I dilations would be fewer ard sim- ; pier, and there would be no fear | that the calculations would be vi- ; tiated by some capricious act of j congress. Mr. W hitney is not mistaken in the opinion that we must get down | from our artificial scaffolding bej fore we can expect solid and enduring prosperity, nnr.- that we ; cannot get about th? business of i knocking away the cracked aud rotting props one day too soon.

I have made arrangements with Eastern capitalists whereby I can loan $30,000 00 in amounts from SSOO 00 and upwards, borrower to oay commission 5 per cent. — Ke-p money 5 years or more. M. F. Chilcote. Uo to th i New York Millinery | store for your stylish hais and 1 dress making. M. <fc A, Meyr.