But suppose that some of my conclusions may not be correct, does not the experience of the last hundred years prove, beyond controversy, that our banking and financial systems must be radically unsound in some very important particulars? And, if so, should we not insist upon their prompt improvement—or the substitution of better ones? Every business man knows that, if the banks were required to keep larger reserves always on hand, they would be safer places of deposit. And they are equally well aware that the more real money there is in circulation the more prosperous and happy are the people. And the vitally important question is, not how far or how fast shall we go, but, shall we not begin to move steadily and determinedly in the direction of less danger and more permanent prosperity? _A Leaf From a Protective Tariff Catechism_ (OVERHEARD IN A PROTECTIVE KINDERGARTEN) BY JOEL BENTON Q. What is Protection? A. It is placing a duty upon foreign goods, of many kinds, to enable American makers of similar goods who “plead the baby act” to get higher prices for those goods than they otherwise would. It is compelling all the people to pay taxes to a few of the people. Q. Why is this favor given to the few people? A. On account of the fact that they pay so much higher wages than foreign manufacturers do and to compel them to pay still higher wages. Q. Is this necessary? A. It is very necessary to the Republican Party; for it gives it an issue and its chief cause for existence. When it saw accomplished, by the fortune of war, the freedom of the slave, what could be more natural and glorious than its ready espousal of anti-freedom for commerce? Q. Are “protective” duties always just equal to the difference between our wages and foreign wages? A. That is what our argument implies; and, if our argument is true, that is all we can ask. But how is a noble army of patriots to be maintained, and how can election expenses be met if we do not—in our tariff—treble and more than quadruple this difference often? Q. Are high wages given by our manufacturers without an equivalent advantage in return? A. It is true of wages, as of other things—that they are ordinarily worth their price, so that our _high-priced_ labor is really labor of _low cost_. But it is a mighty convenient subterfuge to keep this fact out of sight and by this means hoodwink the poor laborer for his vote. Q. Do manufacturers keep a lobby at Washington for securing a tariff that makes them pay _high_ wages and yet sell their goods at _low_ prices? A. That is what we very often say, substantially. Q. Can our manufacturers sell goods abroad? A. They do very largely over other tariff walls, and bear the expense of transportation and insurance and secure handsome profits. But the question is too delicate a one to enlarge upon. Q. Does Mexico have a protective tariff?