It is thought that there
has been such a change in conditions since the enactment of the
Dingley Act, drafted on a similarly protective principle, that the
measure of the tariff above stated will permit the reduction of
rates in certain schedules and will require the advancement of
few, if any.
The proposal to revise the tariff made in such an authoritative
way as to lead the business community to count upon it necessarily
halts all those branches of business directly affected; and as
these are most important, it disturbs the whole business of the
country. It is imperatively necessary, therefore, that a tariff
bill be drawn in good faith in accordance with promises made
before the election by the party in power, and as promptly passed
as due consideration will permit. It is not that the tariff is
more important in the long run than the perfecting of the reforms
in respect to antitrust legislation and interstate commerce
regulation, but the need for action when the revision of the
tariff has been determined upon is more immediate to avoid
embarrassment of business. To secure the needed speed in the
passage of the tariff bill, it would seem wise to attempt no other
legislation at the extra session. I venture this as a suggestion
only, for the course to be taken by Congress, upon the call of the
Executive, is wholly within its discretion.
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