Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1891-08-27

feels our increase of domestic produc-
tons to prodigious extent"
| The American free traders made two
predictions concerning the new tariff, one.
as they thought, sure to be verified if the
other failed.
The hrst was that increased protection
would not greatly, or, at any rate, not
| speedily, stimulate American manufae.
lures, and that the increased duties would
oe added to the price of imported goods,
the quantity of which would not be re-
duced, at least not for years to come.
The English free traders sorrcwfuily ac-
hnowledge that the quantity of their goods
imported to America has decreased won.
derfully, and that they are not able to in
crease their prices upon their diminished
exports; and they cordially ascribe these
conditions to the tariff which has .'stimu-
lated domestic productions to prodigious
extent" 1t is we'll to use the exact
language of the English writer.
Inc other prediction of the American
free trader was that if the new tariff sbonId
have the effect of increasing American
manufactures, the result to the consumer
would be that the American manufacturer
would raise the price of his goods as soon
as ne found that the new tariff was sufi-
clent to protect him against European COM
petition.
The American protectionist predicted
that the new tariff would stimulate our
home industries to such an extent as would
produce fierce competition between Ameri-
can manufacturers for the American mar
ket, and so keep prices down.
The free traders laughed the prediction
to scorn; and there were manufacturers
who CnfnH
belief that 1t would enable them to increase
their prices simultaneously with the in
crease CT their production.
The new tariff now has been in effect
for the greater part of year, and the pre-.
dictions have had time to mature into
verify or into falsity. Let us hear the
New York correspondent of the London
trade journal upon the matter He says:
The idea became prevalent that under
the new tar If the wicked foreigner would
be declared from the MAJ ket and that,
therefore, 1t would lie open to the domestic
manufacturer. The natural result was a
| multiplication OF manufacturers and a
teverlsh activity among the looms, and
consequently low prices.
He goes on to say that many American
manufacturers who voted for the new
tariff IN belief that they would have in
| creased protection without the increased
! competition which the farmers of the
tariff contemplated, now are convinced
that the protection and competition are
convertible terms. And the correspond
ent of the London Journal cruelty takes
knit goods and hosiery, the very articles
upon which, next to tin,plate, the free
traders based their expectations of high
er prices on account of the tariff" as
evidence of its cheapning tendency He
writes thus;
ITO take a striking example: Among
those most anxious for the new law were
the knit goods manufacturers in and
around Philadelphia. But now these very
men are g. umbl:ng at the tariff, and they
feel in this mood because instead of find
ing that instant and decided increase in
values for which they hoped, the quata-
lions for underwear and hosiery actually
show slight decline
And then he gives prices of last year
and this year in support of his proposition,
| and concludes in these words:
"This is due partly to increased domestic
production and partly to the desperate
efforts which are being made at Chemnitz
and other foreign manufacturing centers
to keep the American trade. [
may add that among the most disappoint-
ed are many importers who reckoned on
selling out their stock at a lucrative
advance