And State Papers 179 



change in schedules would not compensate for the 

 damage to business caused by the widespread agita 

 tion which would follow any attempted general re 

 vision of the tariff at this moment. Without regard 

 to the wisdom of any one of those three positions it 

 remains true that the real evils connected with the 

 trusts can not be remedied by any change in the 

 tariff laws. The trusts can be damaged by depriv 

 ing them of the benefits of a protective tariff, only 

 on condition of damaging all their smaller compet 

 itors, and all the wage-workers employed in the in 

 dustry. This point is very important, and it is 

 desirable to avoid any misunderstanding con 

 cerning it. I am not now considering whether 

 or not, on grounds totally unconnected with the 

 trusts, it would be well to lower the duties on va 

 rious schedules, either by direct legislation or by 

 legislation or treaties designed to secure as an offset 

 reciprocal advantages from the nations with which 

 we trade. My point is that changes in the tariff 

 would have little appreciable effect on the trusts save 

 as they shared in the general harm or good pro 

 ceeding from such changes. No tariff change would 

 help one of our smaller corporations, or one of our 

 private individuals in business, still less one of our 

 wage-workers, as against a large corporation in the 

 same business ; on the contrary, if it bore heavily on 

 the large corporation it would inevitably be felt still 

 more by that corporation's weaker rivals, while any 

 injurious result would of necessity be shared by 

 both the employer and the employed in the business 



