The Tariff in Our TimesTarbell, Ida M. (Ida Minerva)
History
The Tariff in Our Times
Tarbell, Ida M. (Ida Minerva)
Tariff -- United States -- History
And there was a general feeling among those who had made it, and in the
Administration itself, that as Mr. Aldrich told Mr. North, duties were
too high and would have to come down. What would have happened if the
public mind had continued to be occupied with the tariff as it had in
1890 and in 1894, it is difficult to say. It is not probable that there
would have been any such revolt as the McKinley Bill caused. The
disillusion the country had suffered over the ability of the Democrats
to carry out consistent reforms was too keen. Moreover, what industry
wanted and needed more than anything else was to be let alone; even the
most irreconcilable of tariff-for-revenue only men could have hardly
counselled another revision at this juncture. The Dingley Bill, bad as
it was, did not stir the popular mind. Silver occupied it, and silver
was soon displaced by the most absorbing interest which a country can
have—a war—and the war was followed by the question of imperialism, and
imperialism was not settled before the country had entered on a period
of such magnificent and bewildering prosperity as it had never before
dreamed. The heavy decline in prices which had begun in 1891 reached its
lowest point for raw materials at the end of 1896, for manufactured
goods in 1897. It was not until 1904 that the prices which manufacturers
had received in 1890 were reëstablished, but after they were once
reached, they soared rapidly far beyond. As for raw materials, they
regained the ground they had lost much more quickly.
Public-domain text, read in full here on John Shaqi.
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