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TARIFF REFORM1 A YEAR and a half ago a gentleman who had just been
reflected, by Republicans, to the Senate of the United States, made
a five-minute speech acknowledging the honor. In respect to public
affairs he uttered but one opinion: that the people of the United
States were confronted by a most serious problem, viz., how to
reduce taxation. On the face of it, this was a most extraordinary
statement, and the chronicler or historian might well take note of
it as a new event in the life of the human race. Statesmen and
historians are familiar enough with the difficulty of raising more
revenue, and laying more taxes, but the solemn and calamitous
position of a nation which is forced to reduce its taxes, and finds
itself confronted by industrial disaster if it does it, is
something new. Students of political economy are familiar with the
question: What harm to industry may be done by levying taxes on it?
But the problem of how to avert the economic disaster which may
follow taking them off is new. Of course the state of mind revealed
by the formulation of the above problem is the result of a long
habit of regarding taxation as an industrial force, or, at least,
as an effective condition of industrial success. There is, however,
a problem; in regard to that fact all concur. It is also a rare
problem, one for which the only precedent is to be found in our own
history, and when the case occurred before, it proved to be fraught
with calamity. We are confronted by the dangers of a surplus
revenue, and no proposal to do away with the surplus in
extravagantexpenditures can stand before the common sense of the
people. 1 Independent, August 16, 1888. If the taxes are collecting
more than the public necessities require, then the simple and
obvious, and, hi fact, the only soluti...
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