Presidents -- United States -- Messages; United States -- Politics and government -- Sources
There is neither wisdom nor justice in the suggestion that the subject of
tariff revision shall be again opened before this law has had a fair trial.
It is quite true that every tariff schedule is subject to objections. No
bill was ever framed, I suppose, that in all of its rates and
classifications had the full approval even of a party caucus. Such
legislation is always and necessarily the product of compromise as to
details, and the present law is no exception. But in its general scope and
effect I think it will justify the support of those who believe that
American legislation should conserve and defend American trade and the
wages of American workmen.
The misinformation as to the terms of the act which has been so widely
disseminated at home and abroad will be corrected by experience, and the
evil auguries as to its results confounded by the market reports, the
savings banks, international trade balances, and the general prosperity of
our people. Already we begin to hear from abroad and from our customhouses
that the prohibitory effect upon importations imputed to the act is not
justified. The imports at the port of New York for the first three weeks of
November were nearly 8 per cent greater than for the same period in 1889
and 29 per cent greater than in the same period of 1888. And so far from
being an act to limit exports, I confidently believe that under it we shall
secure a larger and more profitable participation in foreign trade than we
have ever enjoyed, and that we shall recover a proportionate participation
in the ocean carrying trade of the world.
The criticisms of the bill that have come to us from foreign sources may
well be rejected for repugnancy. If these critics really believe that the
adoption by us of a free-trade policy, or of tariff rates having reference
solely to revenue, would diminish the participation of their own countries
in the commerce of the world, their advocacy and promotion, by speech and
other forms of organized effort, of this movement among our people is a
rare exhibition of unselfishness in trade. And, on the other hand, if they
sincerely believe that the adoption of a protective-tariff policy by this
country inures to their profit and our hurt, it is noticeably strange that
they should lead the outcry against the authors of a policy so helpful to
their countrymen and crown with their favor those who would snatch from
them a substantial share of a trade with other lands already inadequate to
their necessities.
Public-domain text, read in full here on John Shaqi.
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