Page:Speeches, correspondence and political papers of Carl Schurz, Volume 5.djvu/136

give it that stability which is possible only with an economic system based upon just and rational principles. For these reasons I wish to see, not indeed a precipitate, but a systematic and steady advance toward a revenue tariff. But I will tell you candidly what I think will happen if the Democrats win this national election. I once apprehended, if the protectionists went to extremes, as they did in the McKinley tariff, there would be danger of some quick, radical revolution sweeping away the whole system with a suddenness threatening disastrous confusion. The Congressional election of 1890 pointed that way. But I must confess that the attitude of the Democratic majority brought by that election into the House of Representatives has entirely cured me of that fear, at any rate for the time being. Instead of there being danger that the Democrats in power will be too radical and energetic, I see more danger that they will not be radical and energetic enough. They are sound enough in theory, and sometimes brave enough in talk, as, for instance, in this year's platform. But as to action, the greatest danger which, as I think, the industries of the country have to fear from a Democratic victory, is not that the Democrats in power would ruin any of them by sweeping, violent, precipitate changes in the tariff laws, but that the changes which would redound to the great benefit of our industries will be too timidly planned, too narrowly circumscribed and too haltingly carried out to do all the good that might be accomplished. If the Republicans carry the election there will be constant changes in the direction of higher duties, and a restless economic condition in consequence; for no high protective tariff ever lastingly satisfied its beneficiaries. If the Democrats win, the utmost we may expect will be the removal of duties from most of the articles usually considered as raw material, and a corresponding reduction of duties on the finished product; and