Evening journal., 1889-05-16
NEWSPAPER OPINION.
To Revise the Taria.


New York Tribune.
The copper tariff now depends upon
the conduct of those who control Ameri-
can mines. 1t is quite possible for them
to insure a removal OF the duty on copper,
if they enter into a new compact for the
benefit Of French bankers who have lost
millions in attempting to fleece the pub
lie. The nine-owners have publicly
stated that they are able to pro
duce more than all the cop
per this country consumes, and
large part of il at cost not exceeding
6 cents per pound, and that they pro
posed to the French bankers, who hold
an enormous unsold stock, to fix the sell
ing price at about 13 cents per pound
more than double the cost. Nothing
need be said about the right OF the pro
ducer to ret profit of more than 100 per
cent on his copper, provided he
is not a beneficiary of a national
policy intended to protect and en-
courage American production. But the
mine owners are beneficiaries of that pol
lev. and owe to the public a certain
consideration and service in return. II
they enter into a combination for the
benefit of foreign spectators and
bankers against the interests of Ameri-
can producers, the duty on copper may
not last long
II may be said with much truth that
the larger producers can live
without the tariff and have
nothing to fear If the duty should
be entirely removed. The smaller and
weaker mines are those which are in
danger. But public opinion is apt to be
not over logical or rigidly accurate in
case like the one supposed. If the peo-
pie see few enormously rich concerns
making a profit Of $4,000, 600 or more
yearly by means OF a combination with
foreign bankers, and conclude that the
combination could not be main
tanned and that profits would be
cut down to moderate figure if the
duty were removed the demand for re-
moval of the duty is likely to be at least
as strong as that of Western farmers for
reduction Of rates on railroads because a
few of the roads were enormously profit
able. The advocates of railway regula-
tion did not stop to consider whether it
would be well to bankrupt the many
weaker roads. 1t may be doubted
whether public opinion will refrain
from attacking copper ring out of con-
sideration for the weaker producers.
There will in all probability be a re
vision of the tariff next winter The
party in power, being anxious to defend
all industries that need and merit
defence will for that very reason be
more strongly pressed to cut off duties
where no defence appears to be needed,
or where it seems to be not deserved
Combinations of spectators to corner
the markets of the world are not highly
popular, and will not appear to members
of Congress to merit particularly favor.
able consideration. Under such circum
stances, the demand for a removal of all
duties on copper ore, pig and bars, will
be difficult to resist. 1t is safe to say
that, had the Mills bill proposed no
change more unpopular or unobjection-
able than that, its public support would
have been incomparably greater In the
light of these facts the copper producers
may wisely think twice, and more than
twice, before they enter into any new
bargain to control the markets and extori
money from consumers.