The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-07-25

crimirate In our favor against foreign
products, all OF Europe Is seriously con.
sidering tho matter Of taking concert
ed and collective action against the
measure" and discassing the proprie'y
OF adopting cooperative coercion" to
defeat 1t.
Suppose, as our tariff REFORM friends
claim, that a reduction Of prices will not
follow such stimulation as the bill will
accomplish, aays the Chicsgo Inter. Ocean,
and that the elect Of the MEASURE will
DO to "increase q tax which the con-
sumcr must pay" how would this hurt
the manufacturers Of France and other
European powem? Upon this subject
we quote the following from tho Inter.
Ocean, as being very much 10 the point:
II the duty on n given article o be
10 per cent, and the duty oil the same
article be raised TO co per cent by the
Mckinley bill, how would the foreign
manufacturer be affected II, US the free
Traders say, tho cole result OF such In
crease OF duty will DO n corresponding
increase OF price on the part OF Ameri.
can manufacturers? Clearly the effect
upon the French or other foreign maker
would be just nothing ut all. The
| American manufacturer having raised
his price by tho 20 per cent OF duty
added by tho Mckinley bill, tho foreign
manufacturer wonld juat add 20 per cent
TO his prices, and matters would remain
a. they now are.
But France and the other European
powers know better than this. They
know that the duty now being, say, 40
per cent on n given article, their cheaper
| labor allows them to make it and sell II
at q good profit at prices which afford
the American maker a very scant profit,
but If the duty be made GO instead Of &C
per cent the foreign maker cannot add
20 per cent to his present price and COM
pete with the American. On the other
hand. the American maker cannot add
20 per Ccnt to his present price, fol
II he did so the foreign maker would
be placed in the same position o.
advantage which he enjoyed when
the duty was hut 40 per cent. More
than this, the American maker cannot
add any portion OF the 20 per cent Of in
crossed duty to his present rate OF priceP
For when money Is seeking investment
as II now is in this country. ut 81 PEI
cent upon iirst.class securities, any very
large margin Of profit in any manufact
ure would lead to such n great invest
ment in that business AZ would result II
disastrous competition. The protectiv,
tariff iDsures n great market to til,
American manufacturer. II does not in
sure a high percentage OF profit. l
forces a low percentage upon him. ]
makes him geek Tor many sales, Will
small profits upon each Of them, rathe
than for a few sales with great profit
upon each.
Really the most thoroughly protectet
OF ell things in the world are railway
and newspapers. These everywhere ar
protected by circumstance. A railwa.
could not be- imported 10 any country
ror could a locol newspaper. What ha
been the consequence, at least in Btitail
and America? This; The competition
has been greater and the percentage o
profit smaller in the railway and news
paper business than in any others. Tn
profit is upon the volume OF business
not'upon the single transaction. 1t i
the multitude OF passengers carried ant
the multitude Of papers cold, each at
very tritling profit, that result in a year
y dividend to proprietors. 1t is 81
with all the great manufactures, though
in Lesser degree; the profits are small
the rcturnsrapid. The free traders ma.
not have learned these wholesome
truths, but France and the 'other Eur
opean powers" have.