The Tiffin weekly tribune. (Tiffin, Ohio) 1859-1868, 1866-12-20

Deen tue eueot OF an oppressive sys
tenn Of taxation, which has not only
tended TO enhance prices by the nat
ural process Of the producer adding
his tar to the price Of his products
but also through the deranging and
oppressive bearing Of bad system Of
taxation causing eurtailmeDt Of pro.
duction. Aud still further, the high
wages earned by labor. and the high
profits charged by tradesmsn, have
Induced an extravagance Of personal
and family expenditures which have
fostered the prevailing scarcity -
These are the causes which have con.
tributed to bringabOut the era Ofhigb
prices.
High prices, however, always bring
about their own remdey. Aud the
extreme fertility and elasticity of the
natural resources Of this country have
caused this remedial process to be
more rapidin its progress than ha,
usually been the case in other coun.
tries afflicted with scarcity. Tn,
comparative scarcity Of labor has in.
ducsd more extensive use Of labor
saving contrivances, and the high
rate Of wages, of prices and of profits
have naturally stimulated production;
while an unusual number Of emigrants
have been attracted to our shores; SC
that now, in nearly all the markets,
we have a supply Of products matori'
ally in excess Of the demand at tht
exhorbitant rates current for some
time past. XXI,
Manufacturers are naturally indis'
posed to leave any portion of their
productive resources unemployed
and, instead of regulating the supply
Of their goods to the current demand
they have, up to this time, continued
to produce, to the utmost Of their
capacity. thereby fostering the ten.
dency to accumulations of products
With an evident accumulation Of
stocks before their eyes, the distribu
ting portion Of community perceive
that fall in prices is imminent, aud
consequently buy the smallest posi-.
BILE amount of goods, aud the result
is the condition of affairs we now wit
ness-stagnation in trade, heavy loss.
es upon goods, a consequent distur-
bance Of credito embarrassment to
manufacturers, failures, aud chronic
apprehension Of panic. When mat
ters have come to this point, agene.
raj heavy decline in prices and wages
is inevitable. We do not say that in
the present case the decline will car
ry prices at once to their normal lev
el, for it is not to be presumed that,
thus CARLY, the production Of the
country has increased to point cor.
responding to the normal demand
1t is clear, however, that a very i'm.
portant step in that direction must be
taken. i.....
| 1t is of the utmost importance thai
the producers generally understand
their true position pending this pro
cess of reaction from high prices, l
is evidently condition Of affairs un
der which they are liable to incul
losses which will impair their capita
and bring on wide spread prostration
and suffering; but the dangers may be
to large extent avoided by judicious
management. The manufacturer has
to- keep in mind that his product must
steadily fall in price until they ap'
proximate the level which was OBJ
tanned before the war. He therefore
cannot hope to realize the ordinary
profits. But he need not necessarily
lose materially. His business con
sists in the employment of labor fol-
Transforming raw materials into goods
and the practical problem with hlm is
what can he afford to pay for labor
aud what for materials, in order Il
belf his goods at q fair profit, or a
worst without loss, at the prices like
lly to prevail when his goods are mar
keted2 III be finds that either or botl
of these elements of cost range toe
high; he must refuse to employ th'
one and to buy the other, either alto
gether, or to a material extent. Th'
natural result of such a course, i
uniformly adopted, would be to stead
lily bring down the prices of labor AMI
raw materials to "a point corresponding
with the value OF manufactured pro
ducts. And if this result should no
Immediately follow, the produce
would, during the brief interim, b
protected through the moderate sup
'lply Of goods, which would help I
sustain prices. II, however, tn
manufacturer produces upoa the sup
r position that what he is now manu-
featuring will bring, when marketst
1.-The now current prices if he pay
: the operative and the dealer in ra
, materials what they respectively de
: mard, without regard to the prosPs'
, Of getting back again all he invespA
lle. -I..a. L. Az. k.La. 800