The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1891-08-25
LAURENS, s. c., TUESDAY, AUGUST 25, 1891.

choic' of sources of supply, thus insur-
ing low prices, enables the American
capitalist to make q fair profit on his
investment and pay proper wages to
the American laborer, and the foreign
seller possess some American product
for his return cargo, thus stimulating
some other American Industry and 1n-
creasiDg our commerce. After awhile
the American industry under the stim-
ulus of competition invents improved
machinery or utilizes improved meth.
Ods OF transportation or exchange, and
Is enabled to put mis- article on the mar
ket at lessened value, and the for
eigner, in order not to lose foothold
in the American market, Is compelled
to do so likewise to the benefit of The
consumer"
Whenever the tariff Is so adjusted
that the true difference of cost In pro-
duction abroad and the production at
home Is represented by the duty the
consumer has no right to complain, be.
cause he has the competition between
the two in fair market. When l make
that observation make it with this
qualification: mean OH things that
are produced normally in this country.
l don't think that tin comes under that
clause at all, or articles of that kind
which we cannot produce with any
facility, but mean those articles which
we may in the ordinary operation of
manufacture produce in this country.
1t Is to the advantage of us as consum
ers In the long run to have the duty
let me read further, and here Is my idea
of what IS called tariff for protection
and the way in which it operates:
TrItr cvNr ~,
suppose in the instance where the
foreign seller can offer an article at So
and the duty, and the American pro.
iucer cannot proftably Sell it for less
than 80, that the duty were placed at
So, there you see the article brought
ordinarily at a fair profit into the port
of New York at $5, with the duty of
SO would cost 81. The American pro-
ducer can produce it protitably at 80.
The American consumer is no longer
able to buy from the foreign producer,
and the American producer, instead of
being content with the Sc, which gives
him fair profit charges $6 SO, making
an excessive profit and enjoying mon
opoly since the duty excludes theforeign
product at So and so duty, which would
make 81, and as the foreign producer
does not send his goods here there is no
ASouih val 81 VI htuCltCu SCnU
abroad. For "a short period the Ameri-
can monOpOiist makes excessive profits
but this attracts capital to the same
field, then follows over production, and
home competition reduces the price to
$6. and below So perhaps, but as soon
as prices go down from the surfcit of
the marked the capitalist begins to call
on wage workers for corresponding re-
ductlon in wages, for capital does not
part with excessive profits if it can
shift the loss to the laborer. The result
Is the Formation of combinations or
trusts to keep up prices at the expense
or the consumers and the crushing out
OF competitors who decline to enter the
combine"
THE TARIFF THE PARENT OF TRUSTS.
This Is the second stage In which the
tariff presents itself in the workings of
this country that industries excessively
protected produces such enormous re-
turns that they become over stocked.
Then comes the trust in order TO COM
bine these Industries and keep up
prices, and the protective tariff is real.
ly the parent of this system of trusts.
"On the other hand, another feature,
suppose that the article which the Tor
eigner can ship to our shores for So is
admitted free, and drives out the home
product, which cannot be prOftably
made for less than SO, the result is that
the home labor quits all over the field
and capital is taken away from those
industries and labOrers sent somewhere
else; either this or starvation wages.
The consumer after the struggle gets
lower prices. but after the conflict ends
becomes dependent on English produ.
GERS, who take advantage of the dis
tance and monopoly to corner prices.
There is opportunity for return cargoes
OF American products where there is
stimulus of commerce, which is not
the case in such a tariff. Both the pro-
tective and the free trade tariff fall
short of advantages afforded by a tariff
for revenue
TIE FOREIGN AND HOME MARKETS.
AS you see with the teeming produc-
ton of European factories, wherever
the English and the continental manu-
facturer finds a fair field for his wares
he is going to carry them, and when
| ever the tariff does not overstep the
true difference of cost of production of
standard articles and articles of neces.
| slty here and abroad, then foreign artl-
cleS are coming in and we as c0nSum
ers OF these wares have the full advan-
tage Of the foreign market and of the
home market. The foreigner brings
his goods here and the home man can
make them and meet him on equal
terms, havinp always the advantage of
proximity. which is a great advantage,
not sufficient, however. to exclude the
foreigner; and that tariff under the rev.
enue principle will necessarily bring
the best revenue to the country. When
you go above that and make it unproh-
table so that the foreigner will desist
from coming at all, the purpose of the
The Constitution is destroyed and the
revenue is diminished. When, on the
| other hand. YOU invite flood of for.
elgD products, manufactured cheaper
than we eau possibly manufacture
them here, and shut our home mills,
while for ii stason the goods may be
cheap, yet whenever the home compe-
titiom Is utterly destroyed we are at the
mercy Of the ton eigner, and the tenden-
icy Is to raise an Xc, Ss OF revenue anden
courage extravaganza and expenditure
of public moneys. The refprr, we can
well observe that the best system Is
that 81 stem which will give us the ad-
vantage of foreign and home competi-
tion on as nearly equal terms as possl-
BILE. That is the doctrine which has
been advanced and supported, which is
really on analysis the doctrine of
PRESIDENT CLEYELAND'S CELEBRATED
TARIFF MESSAGE.