The circumstances weren’t exactly the same, in 1910 tariffs were already high, approaching 50% in some cases, and William Taft sought, against the wishes of most in the GOP, a slight reduction of 5% on most imports excepting the then vital coal and iron ore industries.
The Republican Party, traditionally protectionist, and wearied of Reform by Taft’s predecessor Teddy Roosevelt, took his proposal into the Congress and spat out a bill that actually raised tariffs on many goods.
Democrats capitalized on this and other regressive GOP policies and seized the House in the next election, and the White House in 1912, feeding it’s own revitalization.
As I said circumstances are different now, as our Stock Market decides whether to settle for correction on run into the bear’s cave, but the lyrics are amusing in light of current affairs nonetheless.
(Substitute Names where necessary)
Tariff Bill
Lyrics: George de Romberg
Music: Lewis Elwell
Now the tarrif bill( is settled
And the country isn't nettled,
Tho' we haven't got revision downward yet;
Thro' the summer month's they've striven
And we're glad for what's been given,
For we're very tired of Aldrich and his set.
There's a most persistent rumor
That the ultimate consumer
Will get it in the neck as here-to-fore,
That the soulless corporation
Still is mighty in the nation,
But at least there's now an end to Tariff war!
CHORUS:
O Bill Taft, you are a dandy,
You're a hummer, you're the candy,
And all the people think that you are great;
For you said that you would do it,
And the party they would rue it,
If they deviated from the platform's slate;
And what you aid you really meant,
You lived up to the sentiment,
For you're our honest, manly President.
The nation watched and waited
While the houses both debated,
And the measure was discuss'd from end to end;
There were speeches grave and witty
In the conference and committee,
But 'twas Taft who prov'd to be the peoples friend,
They took up the schedules singly
Some they made as high as Dingley
And some others they made even higher still,
But the way it's now adjusted
We shall prosper it is trusted
And for that we have to thank our Tariff "Bill".
(CHORUS)
……………………………………………………………….
And for those who want to play this ditty on their parlor piano here's the sheet music.
Rock on.