And State Papers 193 



of a protective tariff, in which I think the nation as 

 a whole has now generally acquiesced, we would be 

 able to correct the irregularities and remove the 

 incongruities produced by changing conditions, 

 without destroying the whole structure. Such ma 

 chinery would permit us to continue our definitely 

 settled tariff policy, while providing for the changes 

 in duties upon particular schedules which must in 

 evitably and necessarily take place from time to 

 time as matters of legislative and administrative 

 detail. This would secure the needed stability of 

 economic policy which is a prime factor in our in 

 dustrial success, while doing away with any tendency 

 to fossilization. It would recognize the fact that, 

 as our needs shift, it may be found advisable to alter 

 rates and schedules, adapting them to the changed 

 conditions and necessities of the whole people; and 

 this would be in no wise incompatible with preserv 

 ing the principle of protection, for belief in the wis 

 dom of a protective tariff is in no way inconsistent 

 with frankly admitting the desirability of changing 

 a set of schedules, when from any cause such change 

 is in the interests of the nation as a whole and our 

 tariff policy is designed to favor the interests of the 

 nation as a whole and not those of any particular 

 set of individuals save as an incident to this build 

 ing up of national well-being. There are two or 

 three different methods by which it will be possible 

 to provide such readjustment without any shock to 

 the business world. My personal preference would 

 be for action which should be taken only after pre- 



