Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-12-02
THE TARIFF,


THE TARIFF.
The Beneficial Effects of the New Bill on
Commerce Sot Yet Felt.
l congratulate congress and the ooun-
try upon the pass gs at the first session
| OF the Fifty-first congress of an unusual
number of laws Of very high i'm portance
that the results Of this legislation will be
| quickening and an enlargement OF our
manufacturing industries larger, and
| better markets for our breadstuffs and
! provisions, both at home and abroad
more constant employment and better
wages for working people and an in
| creased supply of a safe currency for the
| transaction of business. l do not doubt
| that come of these measures were en-
| acted at SO late period that the bene-
| fcisl effects upon commerce, which were
! in the contemplation Of congress- have
as vet but partially manifested them
selves. The general trade and indus
| trial conditions througout the country
during the year have shown marked
Improvement. For many years, prior to
| 1888, the merchandise balances of for
eign trade had been largely in our favor,
49, No'ahS> 'hht huh tho cai Avn
lowing, they turned against US. 1t is
very atifying to know that the last
fiscal year again shows a balance in our
favor of over SIS 900 900. The
bank clearings, which furnish
good test OF the volume of
business transacted for the first ten
months of the year 1890, show, as COM
pared with the same months OF 1889, an
increase for the whole country OF about
ga per cent. while the increase outside
OF the city of New York was over Is per
cent. During the month of October the
clearings OF the whole country showed an
increase of 81 per cent. over October,
1889, while outside of New York the in
crease was II. per cent. These figures
show that the increase in
TIE VOLUME OF BUSINESS
was very general throughout the coun-
try. That this larger business WINS being
conducted upon safe and profitable
basis is shown by the fact that there were
500 less failures reported in October,
1888, than in the same month of the pre-
ceding year, with liabilities diminished
by about S.. 900, 900. The value of our
exports of domestic merchandise during
the last year was over Sll5, 600, 900
greater than the preceding year, and
was only exceeded once in our history.
About 500, 900. 900 of this excess was in
agricultural products.
The production Of pig iron, ALWAYS q
good guage Of general prosperity, is
shown by a recent census bulletin to
have been l53 per cent. greater in 1890
than in 1880, and the production OF steel
go per cent greater.
Mining in coal has hal no tmidity
q that r.snitinp R..n,.
transportation. The general testimony
Is that labor is everywhere fully en-
ployed, and the reports for the last year
show smaller number of employees eff
fected by strikes and lockou than any
year since 1884.
THE DEPRESSION IN THE PRICES
of agricultural products has been greatly !
relieved, aud a bouyunt and hopeful tone
WINS beginning to be felt by all our peo-
Pile. These promising influences have
been in some degree checked by the sur
prising and very unfavorable monetary
events which have recently been taking |
place in England. 1t is gratifying TO |
know that these did not grow IN any de- |
gree out of The financial relation of Lon |
don with orr people, or out of any dis |
credit attached TO our securities held In |
that market. The return of our stocks |
and bonds was caused by monetary |
strngencv in En2iand-not by any loss |
of value of credit in the securities them
selves. We could not, however, wholly |
escape the i'll effects of a foreign mon
etarv agitation, accompanied by such ex-
traordinary incidents as characterized |
this. 1t is not believed, however,
tina. these evil incidents which have
for the time unfavorably affected values
in this country can long Withstand the
strong, safe and wholesome influences
which are operating TO give to our peo-
pie profitable returns in all branches of |
legitimate trade and industry.
The apprehensions that our tariff may
again and ut once be subjected to i'm
portant general changes would undoubt-
eddy add depressing influence of the
most serious character. The general
tariff act has only partially gone into
operation, some Of its important pro-
visions being limited to take effect at
dates
YET IN THE FUTURE.
The general provisions of the law have
been in force less than sixty DAYS. Its
permanent effect OH trade and prices still
largely stand in conjecture. II is curious
to note that the advance IN the prices OF
articles wholly unaffected by the tariff
act, was BY many hastily ascribed TO
that act. Notice was not taken of the
fact that the general tendency of the
markets was upward from Influences
wholly apart from the recent tariff legis-
aton.
The enlargement of our currency BY
the silver bill undou btediy gave an up-
ward tendency TO trade, and had a
marked effect on prices, but this nat
irai and desired effect of the silver leg
station was by many enormously at
to the tariff act. There is
neither wisdom nor suggestion that
ihe subject of tariff revision shall be
opened before this law has had fair
rial. 1t Is quite true that every |
arif schedule is subject to objections.
10 bill wac ever framed suppo,e.