New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-10-20
THE TARIFF IN BOSTON.
yEw.ENeLAND BUSINESS MEN WELL salts.
FLED.
AN ERA OF PROSPERITY LOOKED voR-Ho IN
CREASE IN PRICES TO oossvMEHs-Ex-
TENSION OF HOME INDUSTRIES.

AN ERA OF PRoSfEhATf LOOKED Rok-No In
CREASE IN PRICES TO ooSsvMEKs--Ex-
TENSION OF HOME INDUSTRIES.
no.ou. oct. 10 Especially -kostou business men srs
for the most part satisfied with the new tariff ow-
Ing "a tho falsehoods and misrepresentation Of DEM
cratic newspapers, directly after the Mckinley bill
w,s enacted considerable alarm was aroused In Mas
achusetts lest the law might work mischief by
axine the priccs OF some Of the necessares OF life
ind many of tho socslled luxures, but which have
become 40 common even among people Of moderate
means Is almost to rank among the necessities Of
comfortable homo Notwithstanding the ability Of
any one to compare the old with the now tariff and
10 drav his own conclusions the majority OF people
woud rad the mschievous and misleading statements
Of III sdyIsed or malicious newspapers, that persist
entity published columns of figures, showing as they
claimed how much moro the dear public would DO
Obliged to Day for the privilege Of Republican rule
Within Q week ten days, however, there has
como Q change In sentiment. The great public, so
quick to take ALARM and so ready also to appreciate
The common. sense side Of argument, has seen tho
sentiment OF the common people was the prompt
course Of two or three large clothing and grocery
houses who announced In conspicuous ADVERTISE
ments that they werc selling and would con-
tnue TO sell their goods at the same figures a. Tor
mcriy and by Of clincher announced the prices
II certain wellkn0wn Auclcs Inese aoVortismcneS'
At least In ono instance, published conspcuonsy
In paper OF large circulation, which, In It's same
Issues was Illuminating In Its editorial columns false
moods and mlsstatements concerning tho tarH and
msnforming its readers OF tho high prices they must
now pay for their groceries and clothing. The plain,
honest statements Of tho merchants were more coll
vncing than the false logic Of the editor.
There was also feeling Of doubt for several days
among merchants and business generally as to the
int taft NJ
Kinley bill. Some of these doubtful or ambiguous
clauses have been satisfactorily interpreted by tho
authorities and 1t Is believed that others Will be- SO
that one can hardly find merchant to-day who Is
not a hdebound Free Trader who will not at least
tate hopeful view Of the situation. Many who were
doubtful ten weeks ago, to-day contentcd, and
some enthusiastic the situation. Even thosc
who do not like the tariff prefer certainty to
uncertainty ard say they glad something has
been DONE for now they knJS Just where they stand
In relation to the great marts Of the world.
One prominent merchant said yesterday: 81
was not altogether in sympathy with the Mckin-
lev bill 1t seemed to that 1t might
have been framed much better in some re-
spects than it has been. I thought that too much
protection was given industries that ought
now, II ever to stand upon their own legs but am
glad of some decision 1t gives tone ana STABILITY
TO business which was essential to our prosperity as
a nation. l did not dare for a long time to make
heavy purchase Of certain goods, to enter into con-
tracts extending beyond very short period, OH ac
count OF the great bugbear tariff. l did not know
what Congress might do. I unable to draw
long BREATH and felt constantly as II were living on
territory that liable at any hour to be violently
shaken by an earthquake. Now have taken on my
coat and gone work. l. know just where stand,
and II any Democratic Republican Congress pre-
to tinker that tariff any more for several years
to COME for one, will my influence against 1t;
and know lots Of merchants who feel just as do.
My natural tendencies have been with the Democratic
party but the Of Democrats In the last Congress
has completely weaned me from that party never
such stupidity such an utter absence OF business
saeacty such disregard Of all the elements Of what
we call craftsmanship, in my life. They acted like
lot Of silly boys; they were veritable dogs In tho
mangcr have not hitherto been admirer OF the
Republican party but Tom Reeds manly, courageous,
common rulings, and the determined spirit OF
Republicans In this last Congress to do something even
II n wasn't the best, have won my admiration
GREAT BENEFITS TO AMERICAN INDUSTRIES.
David Hall Rice, wellknown lawyer OF THIS
city, who has devoted great deal Of time 10 the study
Of the tariff problem, and who is about to publish
volume OF nearly 800 pages devoted to discussion OF
economic questions and especially Of the tariff, talked
freely in regard to the subject Mr.. Rice Is confident
that the tariff viii work wonders IN the promotion
OF the manufacturing interests OF this country 1t will
establish confidence. Business men Will know where
they stand, ana the hOOr1nB Grasses VIII ne gfeu'y
benefited by the state u affairs It Will insure
them more steady employment and at better wages
than they could possibly obtain If free trade were In
vogue.
The cotton industry will feel the impetus given to 1t
by the schedule. VIC now export about ten or
twelve millions OF the coarser grades o. ccitcns every
year, and import more than twenty seven millions OF
inc cotton fabrics. We have not been able to compete
hitherto with European manufacturers on the finer
~ cotfop hncn fnk mnch lnnyn N
manufacture them than 1t does the coarscr grades;
wages are much lower in Europe they can afford
to devote the time to this branch Of the cotton in
dusry and do 1t cheaper than we can We pay 100 per
cent for help than the English manufacturer does.
Our plants and machinery cost more, and unless We
are protected manufacturers would, Of necessity,
cut down wages in order that they might compete with
England's low priced people. The cheap grades Of
cottons are not affected bthe tariff and export
them and compete with England in her markets
at Birmingham Manchester and London. The twenty
seven millions OF cotton goods that import ere lux
uries. They worn by the wealthy classes, and
the duty on that grade Is raised to give employment
to our own labor and capital.
In England, from 1878 to 1885, the largest cotton
mills paid an average dividend Of only about per cent
and the greater portion Of this taken from their
reserve fund In Massachusetts, mills in the Same
period paid average Of per cent net Why Is
this Our mills have been kept steadily running for
the most part while the English mills, owing to the
intermittent markets open to them only portion
OF the time and this period Of dleness increased the
cost from 10 to IS per cent per yard. The English
market Il in a state Of almost chronic glut One
fourth DER cent per yard profit fair rate on certain
goods The larger the mills. the greater the necessity
for running Constantly, a short period OF dleness
eats up the profits The taxes, tho interest on invest
men and certain other expenses must be met, whether
The mill Is running not. The new tariff will enable
us to make moro fine goods, and our imports Will In
The next ten years pull of percepuby.
Tho granite industry will also DO benefited by the
t.ris The Cape Ann and Quincy works could not
Under the old law successfully compete with the scotch
nr,rrcs where labor Is cheap that dressed granite
he sent over to this country at lower figures than
wa could produce 1t hero. In granite the labor forms
IRON, 80 to OIL per cent OF the cost