"When I was invited to speak to you here I was informed that I was expected to present my views on the leading issues of the day, and that a like invitation had been given to Governor Campbell and other gentlemen holding public trusts from the people of Ohio. While this invitation relieves me from the charge of impropriety in introducing a political question on the fair grounds, yet I am admonished by the presence of gentlemen of all parties and all shades of opinion that common courtesy demands that, while frankly stating my convictions, I will respect the opinions of others who differ from me. I propose, therefore, in a plain way to give you my views on the tariff question, now on trial between the two great political parties of the United States. It is somewhat unfortunate that this purely business question of public policy is being discussed on party lines, but it is made a party question by the State conventions of the Republican and Democratic parties of Ohio, and we must accept it as such, though I would greatly prefer, and I intend to treat it here, as far as I can, as a purely economic question."
I briefly stated the history of tariff legislation in the United States, what was meant by a tariff and the objects sought by it, and that for the first fifty years of our history the lines were not drawn between a revenue tariff and a protective tariff. It was in those days the common desire of all sections to obtain revenue and to encourage domestic industries. This unity of purpose existed until 1831, when the south had become almost exclusively an agricultural region, in which cotton was the chief product of the plantation with negro slaves as the laborers, and when the north, under the protective policy, had largely introduced manufactures, and naturally wished to protect and enlarge their industries. The tariff question grew out of a contest between free and slave labor. I referred to the various measures adopted, the compromise measure of 1833, the Whig tariff of 1842, the Walker tariff of 1846, and the Morrill tariff of 1861. During and after the war, for many years, any tariff that would produce enough revenue to meet current expenditures and pay the interest of the public debt, would necessarily give ample protection to domestic industries. To meet these demands we had to levy not only high duties on nearly all imported goods, but to add internal taxes, yielding $300,000,000 annually, on articles produced in this country. When this large revenue was no longer necessary, many of these taxes were repealed, and then the tariff again became a political question between the Republican and Democratic parties. I then stated the five principles or rules of action adopted by the Republican party in the reduction of taxes, all of which were applied in the framing of the McKinley tariff law, as follows:
"First. To repeal all taxes on home production, except on spirits, tobacco, and beer.
"Second. To levy the highest rates of duties that will not encourage smuggling, on articles of luxury which enter into the consumption of the rich.
"Third. To place on imported articles which compete with articles that can be manufactured or produced in the United States, such a rate of duty as will secure to our farmers and laborers fair prices, fair wages, and will induce our people to engage in such manufacture and production.
"Fourth. To repeal all duties on articles of prime necessity which enter into the consumption of the American people and which cannot be produced in sufficient quantity in this country.
"Fifth. To grant to foreign nations the reciprocal right of free importation into our ports of articles we cannot produce, in return for the free introduction into their ports of articles of American production."
I entered into full details of the tariff and contrasted the McKinley act with the Mills bill proposed by the Democratic party, but which never became a law, and in conclusion said:
"And now, gentlemen, it is for you to say whether it is better for you, as farmers, or producers, or consumers, to give this law a fair trial, with the right at all times to make amendments, or to open it up and keep it in a contest between two political parties. If we could all divest ourselves of the influence of party feeling we would have no difficulty in agreeing that either bill is better than a constant agitation and change of our tariff system. I say to you that if the Mills bill had become a law in 1888, I should have been disinclined to agitate its repeal until it had a fair trial, though my study, both in the Senate and committee on finance, led me to oppose it. It seemed to me a retrograde measure, born of the ideas of the south, narrow in its scope, and not suited to a great country of unbounded but undeveloped resources. Still, as I say, if it was the law, I would not repeal it without trial. Now, this McKinley bill does meet, substantially, my views of public policy. Some items I would like to change, but, on the whole, it is a wise measure of finance. It will give enough revenue to support the government. It is an American law, looking only to American interests. It is a fair law, dealing justly by all industries. It is an honest law, preventing, as far as law can, fraud and evasion. It is a comprehensive law covering the whole ground. It will undoubtedly establish new branches of industry in our country not now pursued. It will strengthen others now in operation. It will give to thousands of our people now idle, employment at fair wages. It will give to our farmers a greatly enlarged market for their productions, and encourage them in producing articles not now produced, and to increase their flocks, herds and horses to meet the new demands."
My speech was as free from partisanship as I could make it, and I am quite willing to stand upon the policy I defined.