Telegram-herald., 1890-10-24
THEORIES rs. FACTS
SCBylTS BCOsIROSERIlBLE FACTS
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DESTROYS Of gaining light on the tariff
question, the TELEGKAa. HERALD called
upon W. C. VOORHEES,, who Is an old
resident OF the state Of Michigan, and
~ss st one time prominent hardware
dealer Of Detroit.
Il came 70 get . statement OF your
candid opinion On that all-sbsore4ng
topic, the tsnIt," remarked the IELE-
GRAM-HERALD. "YOur recollection OF
your personal experiences with tariff
and free trade would no doubt be of
general interest"
Il have seen considerable OF both and
am pretty well acquainted with the
effect OF each upon business IN general, -
be replied.
my memory goes back TO 1916 and
1917, when my father was a farmer
living near Waterloo, New York. In
those days the farmers had a hard time
of il, | assure you. Wheat was 10 cents
bushel and il took 10 bushels To buy II
barrel of salt and hushel would just
pay for yard OF cotton cloth. We had
to depend upon England for most OF
our manufactured goods"
''In the years OF 1886, '37 and IS,
our national financial affairs were AT a
very low ebb. The balance of trade
was against us TO an alarming degree ;
we were importing almost everything
IN the way of manufactures. Our cot
tons, woOlens, crockery and hardware
were nearly ali of foreign makeup.
All our screens were imported, and the
market was controlled by a syndicate as
powerful as any that exists today. The
price was kept up at an exhorbltAnt
rate, but az soon is any one started a
factory IN this country, down would
come the syndicate prices TO a rulnous
rate, until the home industry was
driven TO the wall, and then up would
go the price again.
''It WAS so all along the line. The
Ironmongers' Union of England used
TO meet every three months 10 fix
prices, and If any competition was
found on this side Of the wat r, they
took immediate and effective steps 10
choke II of.
1.-The Government had few millions
of money, and it was loaned TO the
banks about the country. Under the
free trade policies of the Government
we were at disadvantage.
Foreign Governments were max
ing our goods, and would take
only gold and silver for pay. Our sup
ply of these metals WAS very limit d so
our currency was soon reduced to
paper. This caused the great pane of
So"
''In 1910 the Wings carried the day,
IN spite of the foreign money sent here
to defeat them. A tariff of 90 per cent.
was placed upon screws and this, OF
course, was prohibitory. We have made
our own screws ever since, and | am
sure they aIe cheap enough. We were
paying under free-trade $50 a ton for
English iron, 500 for SWede, and $50 for
Russian; American iron was unknown.
The tariff started a small iron industry
IN Pittsburg and 1t was put upon the
market. | sold the first American iron
in the State of Michigan.
''The quality was steadily improved
and the production increased IN all
branches of iron manufacture. In a
short time we we're selling door-lOcks
at Sl.50 that, before the tariff, We were
selling at s3 each, and now you can get
the same goods for 50,cents.
"Cast steel we had been buying at
SIC per hundred weight and under the
tariff it was made IN this country at 50.
Lead had been selling for 4 cents a
pound when a prohlbnOry tariff was
placed upon it. Very soon after 1t
could be purchased in Chicago at y
cents a pound.
1.-The same arguments were made IN
those days in favor of free trade that
we hear on the platform now. The
Democrats claimed that the tariff bene-
fitted only the producer; that the tariff
WAS merely added TO the price of the
article, and that the consumer paid It,.
| had a large number OF Democratic
orators come 70 me from time to time
for data To support their theories. |
would merely refer them TO my IN
voices, covering a period of many
years, and let them draw their own
conclusions. They would fiud that for
some unaccOuntabie reason they were
at fault For instance, nails under free
trade had been selling at s. n keg; then
a tariff OF 81 Il keg was pat upon them
in 1872, aud soon after nails dropped to
$3.50 keg.
GLOW do you account ffor this?' they
would ask me. 1t ls evidently and un-
sccountably wrong, according TO the
Ory."
Il would he obliged to say: Gentle
men, ! don't know why It is, | am
neither politician nor political econ
omIst. but YOU come 70 zoe fer bottom
facts and there YOU find them. ! am
dealing with facts IN business. and have
nothing 20 do with theories They
would go away and say. we must be
right, bat for some reason We are ap-
parently wrong
II have noticed that. during al the
time We have lived under a mgh tariff
the balance of trade mas been in our
favor aud ve have been prosperous
nder free trade or even los tariff. we
have been distressed and our currency
has contracted.
During the lsst year q Cleveland =
admin straton the balance Of trade
vas agsinst IS hut 20 a very small ex-
tent. THIS yesr We are csming ont
ahead and the Mckinley biil sssgres
our prosperity for some time 10 come.
chsrssd with Theft-