The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1888-08-25
our INFANT INDUSTRIES.
How Their Excessive Profits Aro Divide,
Isetween Capital and Labor.

OUR INFANT INDUSTRIES.
How Their Excessive Profits Are Divided
Between Capital and Labor.
The champions OF an eternal war
tariff have departed widely from the
doctrines OF the early apostles OF pro-
tectionism. Henry Clay. in his time,
enjoyed the distinction of being called
the great apostle Of the american
system" It was false title; for the
so-called American system was simply
the British, the French, the Spanish,
the common mercantile SYSTEM" SO
called, of the old world, transplanted
to the new. But neither Clay nor any
other apostle Of that system in his day,
nor in any epoch before our civil war,
advocated tariff for protection as the
permanent policy Of the Republic.
They wished to protect our 'infant in
dustries," they said; to encourage,
nurse and coddle our young and strug-
Cling manufactures, until they should
become strong enough to stand alone.
This was their position, pretentiously
at any rate, and beyond this they pro-
fesed no wish to go. They laid it
down as an article OF their creed, as q
fixed basis of their gospel, that the
tariff bounties they would compel con-
sumers to pay over to our "young in
dustries" were to be withdrawn as
soon as these Industries had become
established.
When would they be establishedp
What would be the test of their adult
strength and vigor which would en-
able them to stand without the mater
nal support of bounties drawn from
the earnings OF the people by Govern
ment partiality and legislative decreeP
These questions, often asked, have
never been answered. 1t is time to
ask them again.
But, first, let us look at some facts.
The facts touching our industries
which are furnished by the census re-
ports are the most accurate and trust
worthy, as we'll as instructive, within
our reach. They inform us that, in
the year 1880, there were embarked in
manufacturing enterprises as follows:
Capital invested. g, 700 22s, 500
| Workmen employed ed............-.. 2,T3S, ,a30
Total wages paid IN one year....... o4T91s,674
| Average yearly wages a46.7S
Value OF product, one year.. - $3.50 es7, 700
Cost OF materials used....... secs. 1894 $40 Os0
Gain produced by labor. Il, ,975 se7, ,677
OF which the workmen received. e74
Leaving the employers profit. 81, ,O0o 4Os OO3
This sum 1000, ,003) was the
manufacturers profit on the capital
invested (s2,7O0, $685. ,5O6). What was
the value to him of the tariff "pro-
tection?" Ten per cent. profit on the
capital invested is regarded as a fair
compensation. Ten per cent profit on
a capital of $2,7O0, 223,50 is 1927, 7,0O2,
235. Deducting this fair profit from
the actual profit gained by the manu-
facturer gives a remainder of $685.
405, ,768, which is the sum that was
transferred to the Golfers of the manu-
facturers from the earnings of the peo-
pie by the protective tariff. In other
words, "protection" gave to the manu-
facturers sum above the fair profit
on their capital almost equal to one
half of the amount of the capital it
self-this in one year-while the work
men receive In the same year the
average wage of $346.78 each.
1t is herein demonstrated that the
wages of the workmen could be doubled
and yet leave fair compensation tc
the employers for their capital en-
barked in the business. 1t is showr
that the tariff which has given $973,.
405,76S to the employer above his fair
profit has added nothing to the gains
of his workmen. The facts prove
also, that this excessive profit of the
capitalist is drawn from the earnings
of this people, who are compelled tt
pay this egregious profit to our "in'
FAINT industries" by the protection tar
ifflaws
Here the question comes forward
again: When will these ''infant indus
tries" become adult industries? Whel
will they be able to stand without th'
prop of succor from other mems earn
ingsp If profit OF more than one bill
lion q year on a capital investment o
} two and two-thirds billions, or of NOR
than nine hundred millions above wha
would be a fair profit, is not test o
their ability to stand alone, what prof
, will furnish such a test? Must thu
} protection prop be maintained unit
the profit on capital amounts to on
hundred, two hundred, three hundre'
! OF four hundred per cent before these
struggling industries will cease to b
sucking industries, or consent to b
) weanedP What is the point in this ar
} bitrary appropriation of other peo
ple's earnings to these insatiate in
fants where the weaving will beginp-
Chicago Globe.
JOINING THE FOLD.
! | Influential MlchiganderS Who Have Lei
, the Grand Old Party.