Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm LifeFairchild, Geo. T. (George Thompson)
Science
Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm Life
Fairchild, Geo. T. (George Thompson)
Agriculture -- Economic aspects; Economics
The indirect influence of a new tariff law upon the industries of a
country can scarcely be foreseen. So interlocked are all the varieties of
manufacture and trade that a change in price of any one article of
commerce may affect hundreds of others, sometimes much more than the
article restricted. It is easily seen that a duty upon iron of a
particular shape or quality may actually prohibit the use of that iron in
some product which already touches the margin of profit. These incidental
effects can scarcely be foreseen by even the wisest statesman. The
practical adjustment of conflicting interests in the framing of tariff
laws should be the work of experts. If all parties could unite in
establishing a bureau of commerce, domestic and foreign, as dignified as
the Supreme Court of the United States, and as independent of party
interference, such a body might frame a consistent tariff law, gradually
perfecting it in adjustment to all interests and explaining its bearings
to all parties. Such a body could take account of the great interests of
agriculture in the commerce of the world, and weigh properly the indirect
influence of restrictions. The marked influence of fluctuating tariff upon
sheep raising, so familiar to all farmers, might then be fairly
appreciated. Under present methods it is very certain that any tariff law
is largely a compromise, with limited judgment, between agitating
conflicts of interested promoters. The farmers, of all people, can afford
to be conservative of all interests, and should favor such methods as will
work toward enlargement of commerce without destruction of industries. If
possible, they will wisely seek the removal of tariff questions from
practical politics.
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