The idea of using tariffs to regulate trade and support the local economy is hot today just as it was during President Roosevelt's time. We asked our AI version of the President about his thoughts and we ended up learning how his mind changed over time.
At first, we asked him whether he thought tariffs were helpful and we got this:
My dear fellow, I must say that my views on the McKinley tariffs are quite clear. As a strong advocate for American industry and workers' rights, I firmly believe that these tariffs have been a necessary measure to protect our nation's economic interests.
The protective system, as you so aptly put it, has allowed us to maintain a competitive edge in the global marketplace, thereby safeguarding the livelihoods of our citizens. The tariff law, as proposed by President McKinley and supported by Congress, was enacted with the intention of ensuring that American industries could compete fairly with foreign competitors.
Now, I understand that some have raised concerns about the potential negative impacts on international trade and commerce. However, I firmly believe that these tariffs are a necessary evil, meant to level the playing field for our domestic producers and stimulate economic growth.
As I said in my annual message to Congress, "With the sole exception of the farming interest, no one matter is of such vital moment to our whole people as the welfare of the wage-workers." The McKinley tariffs, in my view, are a crucial step towards protecting these workers' rights and ensuring their standard of living.
Of course, I acknowledge that some may argue that reduced tariffs could benefit the economy and promote free trade. But, my friend, I must caution that such policies can have unintended consequences, particularly for our domestic industries.
In conclusion, I firmly support the McKinley tariffs as a vital measure to safeguard American industry and workers' rights.
This response relied very heavily on his 1901 State of the Union address.
But then we asked the AI whether his views had changed over time and he said:
Yes, I must admit that my views on tariffs evolved significantly over time.Initially, as a young man and later as governor of New York, I was a strong supporter of high tariffs. In fact, I believed that high tariffs were essential for protecting American industry, promoting economic growth, and building national strength.
However, as president, I began to see the negative consequences of excessive protectionism. The 1890 McKinley Tariff, which I had championed during my campaigns, had led to a surge in prices, inflation, and resentment among American consumers. I started to question whether high tariffs were truly serving the interests of the American people.
In particular, the experience with Big Stick diplomacy, where we used economic leverage to persuade European powers to back down on their claims, made me realize that America's true strength lay not just in its military power but also in its ability to trade and compete with other nations.
The Payne-Aldrich Tariff of 1909, which I signed into law, marked a significant shift in my views on tariffs. While it still raised revenue from foreign goods, it reduced the most heavily protected industries and opened up more opportunities for American exports.
However, even as president, I did not entirely abandon my support for protectionist policies. My emphasis on the importance of domestic industry and competitiveness sometimes led me to advocate for higher tariffs in certain contexts.
It wasn't until later, during my time at the Nobel Peace Prize committee, that I came to see tariffs as a tool of economic warfare rather than a means of promoting American industry. The experience of negotiating with European powers over trade agreements made me realize that high tariffs could be seen as an arrogant and exclusionary policy, damaging our relations with other nations.
So, you see, my dear fellow, I did not suddenly change my mind about tariffs overnight! It was a gradual evolution, shaped by new experiences, observations, and insights. As I always said, "The greatest glory in living lies not in never falling, but in rising every time we fall." And that includes being willing to reassess our views on even the most seemingly entrenched issues like tariffs.
And we asked how his experiences in the Oval Office shaped his thoughts:
My dear fellow, the tariffs imposed by President William McKinley were a constant source of frustration and concern for me during my time in office. As a strong advocate for free trade and competition, I believed that these tariffs were an outdated and misguided policy that harmed American businesses and workers.
I often spoke out against the high tariffs that dominated our trade policies at the time, arguing that they stifled innovation, drove up prices, and hurt American consumers. The 1890 McKinley Tariff, in particular, was a major point of contention for me. I saw it as a cynical attempt to prop up special interests and line the pockets of wealthy politicians rather than serving the broader public interest.In my book "The Rough Riders," I wrote that "the tariff is not only a protectionist measure but also a revenue-raiser." But I believed that this was a misguided approach, as it focused too much on raising revenue from foreign goods rather than promoting American industry and competitiveness.
As president, I made efforts to reduce tariffs and promote free trade through the Payne-Aldrich Tariff of 1909. While it was not perfect, I saw it as a step in the right direction towards creating a more level playing field for American businesses.
But, I must admit that my own feelings on this issue were somewhat complicated. As a trust-buster, I had to navigate the complex web of interests and alliances that shaped our trade policies at the time. While I was committed to reducing tariffs, I also knew that certain industries, like steel, required protection to compete with foreign imports.
In hindsight, I wish I could have taken a more decisive stance on this issue, but the politics of the time made it difficult to achieve meaningful reform. Nonetheless, I remain convinced that free trade and competition are essential for American prosperity and that our nation's best interests will always be served by promoting these values.
Now, my dear fellow, I must ask: do you think tariffs are still a necessary evil in modern America?