Mckinley Vs. Wilson Tariff

The iniquitous McKinley act not only defied every scientific principie of taxation, but laid an unnecessary heavy burden of taxation on the people, and yet did not furnish sufficent means to meet the needs of the treasury. For months before its repeal there was a large and constantly increasing deficit mounting up into the millions and necessitating the issuance of government bonds in a time of profound peace in order to meet the ordinary expenses of the government. This condition existed, not because the people were not paying sufficient taxes to meet all needs of the government, but because the McKinley law was so framed as to divert these taxes from the treasury into the coffers of the trusts and monopolies. The primary purpose of the act was not regard tor the needs of the treasury and the interests of the people, but is a clear case of truckling to the demands of favored producers. Let the people observe how all this was changed at once by the Wilson tariff act. Although it has been in operation but a few weeks, the government rèvenues are already largely in excess of the expenditures, and the industrial situation, by the admissions of the press of all parties, is steadily improving. Let it be noted also that the increased revenue does not result from the increased cost of' living. The duty on nearly everything in the line of necessaries is reduced. This is sure to result in increasing the purchasing power of every man's daily earnings. As time passes the advantages of the new law will become more and more apparent. The cheapening of the necessaries and comforts of life will increase the demand therefor, and this together with reductions in the cost of the materials of manufacture, will largely increase production and in turn strengthen the labor market and result in the restoration of general prosperity.