Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1884-05-20
THE TARIFF REDUCTION In THE PRICE
OF WOOL.

THE TARIFF-REDUCTION IN THE PRICE
OF WOOL.
FALLACY OF THE vIRGINIAN's ARGUMENT.
HOW FARMER LOOKS AT 1T.
Several weeks ago. we stated that the
Republicans were earnestly endeavoring
to make the farmers believe that high
tariff protects them," and added that ''this
task of deception ought to prove difficult
one.'' Since that time, the Valley Virgin-
ian has furnished illustrations of the truth
of both of our statements, in labored arti-
cles, of column in length each, in its two
last issues.
1t has earnestly endeavored to make the
farmers believe that a high tariff protects
them," and it has found the ''task difficult
one.'
1t will find that this ''task' is not only
"a difficult one," but that it is impossible
Of accomplishment The farmers are in
telligent, and they cannot be easily de-
ceived in reference to the operations of a
high tariff upon their interests, and they
certainly will not be by such sophistieal
reasoning as that which characterizes the
articles of the Vnginian. They will rather
consider such reasoning as an insult to their
intelligence and good, strong common
sense
Tn. tic ,r% tho DI9.ujq,1na,
s.Let any farmer compare the price which
he received for his wool crop last Spring
with what he receives this and he can an
swer for himself whether or not a tariff
protects his interests. This is only one of
the hundred instances in which he is affect
ed, but it must suffice for our illustration
to-day.
Last year, the price of wool, washed,
ranged, in Staunton, from 37i cent to 80
cents per pound. To-day it ranges from
30 to 323 cents"
1t then assumes that the growth of wool
in this comfy and State has been in
creased so per cent. since 1880, and pro-
ceeds to show, upon that basis, how much
the wool-growers have lost by the reduction
in the price of wool, and charges the result
to the fact that the Democrats, two years
ago, elected majority of the House of Rep
resentatives
The pureose of the Virginian is to con-
vince the farmer that high tariff promotes
his interests, and that he should support
the Republican party, and seeks to make
him believe that Democratic House of
Representatives has caused him to lose 81
on every 100 Tbs. of wool. Now, what will
the intelligent farmer and wool grower say
after reading the article of the Virginion :?
We suppose he will say something like
this
1t is very evident to the most common
understanding that the reduction in the
price of wool is not due to any change Of
the tariff, for there has been no change of
the tariff 1t must, therefore, be attribu-
ted to different cause. The Virginian ad-
mits that there has been no change of the
tariff But its argument seems to be that,
as there is majority of Democrats in the
lower House Of Congress, the reduction has
been caused by the fear that the duty on
wool may be reduced. But this argu-
ment is groundless, unless the Republicans
in the Senate vote for it, for they have a
majority of the Senate, and no bill can be-
come law without their consent and ap-
proval, and If the Republicans will vote for
lower duty, they will be doing exactly
what the Virginian fears the Democrats
would do, and, therefore, even if a ''high
tariff protected the farmer there would
be no reason why he should desert the
Democratic party to 60 to the Republican.
There is no force in this view of the Vir-
ginian, unless it be true that the Democrats
at the next elections will so sweep the coun-
try as to secure majority of the Legisla-
lures of the States, and thereby the ma
jority of the Senate, as well as the Presi-
don't of the United States, or that the Re-
publicans will themselves vote for reduc-
tion of the duty on wool, and we do not sup
pose that the Firyinian is willing to COIL
cede that either of these things will occur.
If it does not, it must concede the fallacy
of it's argument, and must suppose the
farmer very gullible indeed who could be
deceived by it.
Having satisfied himself that the tariff
was mot the cause of the reduction
in the price of wool-for the tariff
has not been changed-and that it was
not caused by a Democratic majority in the
lower House of Congress, have not
the power to change it, even if they SO de-
sired,-th farmer then brings his good,
sound common sense to bear upon the ques-
ton. that he may determine what is the
true cause of the reduction in the price of
wool, and he reasons as follows =
The price of an article is always governed
by the relation of supply and demand. If
the supply is increased, and the demand
remains the same, the price will fall; if the
supply remains the same, and the demand
is diminished, the price will likewise fall;
and if the supply be increased and the de-
mand diminished, then the price will fall
for double reason.
Now, how is it in the case before us p
The supply Of wool has been increased
the Virginian says as much as fifty per
cent. since 1SS0-and if the demand were
the same, the price would fall; but the de-
mand is not SO great, because of the sus-
pension or partial suspension of work in the
factories, and hence the price would fall for
. double reason-the increase of supply
and the diminution of demand. This &C
counts simply, nationally, and satisfactorily
for the reduction in the price of wool, for
which the Democratic party cannot posi-
bly, be held responsible; but it is not so
clear that the Republican party, with its
high-tariff policy, is free from responsible
ty for that result; for tthe over-production
of manufactures, due to the stimulus Of the
great profits of the manufacturers by the
high tariff, at the expense of the farmers
and other consumers, has caused diminu
ton of the demand for wool, and, conse-
quently, reduction of its price.