THE Wairarapa Age MORNING DAILY. MONDAY, JULY 22, 1912. FREETRADE AND PROTECTION.

Wairarapa Age, Volume XXXII, Issue 10674, 22 July 1912, Page 4

THE Wairarapa Age MORNING DAILY. MONDAY, JULY 22, 1912. FREETRADE AND PROTECTION.

When the Miivioter for Customs (Hon. F. M. B. Fisher) reoswbly announced that tlliere would be no change in the Customs tariff this year, 'lie did not, cf course, mean to imply that fiiis Government was in sympathy with the existing Protective tariff.. Any alteration in the fiscal policy must of necessity be attended witfli a considerable I validation in- trade, 'and it was right and proper, in view of the fact that the Government wife not prepared to introduce legislation on the subject during the 'present session, that mercantile houses 'should be given an assurance upon the subject.-In a speech, on March 9th last, President Taift said:— "We ought to have some means of knowing, from facts ascertained by important tribunals, 'what ■we are doing iwhen we are tSianlging the taViiff law. Nothing interferes go imuch flttii teinees as twanging the ■tariff, lupen Which all business rei'ts, 'without kuowing what the facts are." The Minister of Customs in New Zea'k;nd sXiould have no difficulty- in. asoertain'inig the facts, as fair as this Dominion is concerned. For the last twenty cr thirty years we have been imposing a protective duty for no ( .other purpose than to create 'monopolies in trade and to exploit the consumer. The ptcsoni who ,vayy that we are protecting these engaged .in- linduistricfi has only an imperfect knowledge of the economic conditions. Everybody knows that this is a producing, and not a manufa-etu-rinig country. A tariff 'which (hampers primary production 1 .far the take of bolfc'tering 'up secondary .industries is not fojksed upon cound business principles. Wlnib has Protection dona for the United .Statey? It ha,s substituted monopoly for competition, and treated -•immense wealth check by jowl with hwmer.lse .poverty. Governor W'idrow W ikon, t f he -Democratic candidate' for the Presidency, speaking at New York on January 3rd Inst, 6 a id: "All the life-blood of She country is beimg drained from the farms into the factories. A great many of the morbid conditions of our isociety are due to thiy same exce&aiv-o ifcistclring of one stage- of niationial liife at the exipoiiise of the other, and now we have stimulated it iso much tiinvt we 'have not a largo enough market for the linearis of disposing of Hhe surplus product." It will, be impossible for New Zea-

Jand. as it 'iy .impossible for tlio Unit<xl States } to revert ito .Erectrade hi a day, or. a year, or a decade 'lor that matter; but it is quite passible that we should so adjlist oiu* tariff that the Customs duties /shall bo employed for revenue purposes only. Governor Wilson put the position very succinctly when he said:—"l w6sh 1 might >hcpo I'd at our grandch>:l i dlren could indulge Itr free trade, but I am afraid th:it they cannot, because it re likely that for an indefinite period we dial! have to pay our national 'bells hv duties collected at ilie portb. Thereto c we arc to act upon 1 the fundamental [ .principle ci tlie Democratic p not ' freetrade, but .tariff for revenue, and we 'lui've to approaclh that bv .such inanin&r, (by such stages, Mid at such a o.ice as .well ho consistent wfth t stability and s.ifety of the bu-sine;?.-.

the countiry." J'<t may he taken fi.r granted that iif the Democratic candidate should win,', there will be a ) adjustment cf tUie tariff whicfli wii! provide /for the JVee imfpo:*tnbion cf such raw materials an iwool. And if this result should be attained, it will Tiave mi: important hearing upon one of the most flourishing industries in New Zealand and Australia. Tn the meantime, the Legislature of New Zealand is confronted with the .same probloirw as these of the United States. Important readjustments will have to 'be made in *the near future; but these mast be consistent with the stability and safety of the business c.f the country.