Rensselaer Semi-Weekly Republican, Volume 40, Number 67, Rensselaer, Jasper County, 24 April 1908 — FAIRBANKS PLAN [ARTICLE]

FAIRBANKS PLAN

Suggestion For the Early Revision ot the Tariff Meets Popular Favor Everywhere. SENATOR HEMENWAY’S WORD ON IT In His Notable Convention Address, Indiana’s Junior Senator Presented a Very Clear and Concise Explanation of What Is Now Universally Hailed and Welcomed as “the Fain banks Plan ” < "* The suggestion by Vice President Fairbanks to revise the tariff immediately following the election in November has become known as the “Fairbanks plan” and meets the hearty approval of the people. As the author of this plan says, it will assure the wcrk by the friends of protection and will shorten the period of disturbance at least four months. As everybody expects revision, the quicker it is done, the better. And when Ut is known that it is to be done speedily by the Republican party the busiIBStt men of the country will not become'alarmed and business will go on without interruption. Senator Hemenway explained the “plan” very clearly in his convention speech as follows; • .. “There is no question that the people are overwhelmingly in favor of tariff revision. In my own judgment the tariff schedules must be revised. ‘1 believe in doing things when we have power to do them, and it would be a great relief to the country to know that when the schedules are revised they will be revised, by the party that believes in preserving our borne markets to the American farmer and in protection to American labor. “We know that today we have a majority In the house of representatives; we know that the senate of the United States is composed of a membership two-thirds of which is Republican; and we know that we have a great Republican president. “We know also that we shall have complete control of legislation from the day after election in November Until March 4, 1909 —four months. "This is ample time to revise the tariff, while we know that we have absolute control, and I will earnestly urge that an extra session of congress be called Immediately after the election for the purpose of revising the tariff. Things to Be Qalned. "What would we gain by this? “1. We would serve notioe at once upon the American public that the tariff is to be revised by the Republican party at a time when the party has absolute power. “2. The people of the United States would know that revision would be along protective lines. “3. A revision of the tariff immediately after the election would settle the question four months earlier than it otherwise could be settled, and this great country of ours would begin its forward march for leadership among the nations four months earlier than it otherwise could, for we know that all industries that are affected by the tariff schedules will curtail their business until they know how the change will affect their Interests. “4. This means that many workingmen must be out of employment until the revision is finished and the manufacturer learns upon what basis his foreign rivals are to compete with him. "The sooner this question is settled the sooner labor will be employed. There can be no general change in tariff schedules without putting more or less labor out of employment while the uncertainty as to changes continues. Therefore the sooner the change is made the better it will be. Time to Act. “To my mind it is not an open question. The time to act is while we have the power. "Opr Democratic friends may say that Hemenway advocates speedy notion because he is alarmed and thinks that the Democratic party may elect A president, control the next house of representatives and later dominate ■ the senate, I do not believe there is One chance in ten for Democratic suoosss at the next election, but whatever the outcome may be the plan I suggest means four months of time saved; ■mans four months less of uncertainty in the minds of the manufacturers of the country; means four months more of labor for many workingmen, and means a sane, sensible revision to meet changed conditions. 'Tt does not mean an abrupt abandonment of our national policy, such as would follow Democratic revision. "It means a Republican tariff bill to which we could point with pride; not a 'Wllson-Oorman* bill, that even the authore themselves were ashamed of and would not own, and one that the Democratic president would not sign. "The Republican party has been equal to all emergencies and never has disappointed the public, sod I want to say to you and to the voters of Indiana: The party of Lincoln, Harrison, McKinley and Roosevelt is equal to all the questions that now oonfroot as.’ If the Republicans of Indiana had It all to do over again, even in the light of experience, they could not make a better ticket than that which was promulgated at Indianapolis sa last Tbarsday.~*Lsbanoo Patriot.