The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1891-05-16
OVER.IMPORIATIONS.

Every day brings additional evil
dence that the cry of"McKinley prices
last fall was excessively overdone. 1t
will be remembered that the importers
brought in immense quantities OF for
eign goods before the new tariff went
into operation. under the idea that
prices would advance largely very
shortly, and that they would thus be
able 10 make enormous profits. The
result shows that they overrcached
themselves. The Boston Herald Dem.
ocratic). in a recent issue, has the fol
lowing from an importer:
myself was abroad at the time.
and for our firm bought more goods
than | ever did before in a season.
Every available article of tirsts, seconds
! or thirds. if mattered not what. was
snapped up-the foreigners were COM
plctcly cleaned out. This volume OF
merchandise. enough for q six months
supply. was poured into America i'll
advance of the application OF the Me-
kinlcy bill. In Germany, England
and France, where the commercial
connections are well established. bank
credits were freely offered and as
freely used.
When the goods arrived they were
at once placed upon the market at adj
vanced prices, and the importers be-
gan to scratch around TO get the
money TO meet their bills. July went
by with fairly good results, but the
offerings were too numcrOus-they
were larger than the country was
able at once to absorb, and October
came and found no appreciate
diminution of summer goods in the
hands of importers aud jObDcrs.
Some of them tried TO force sales by
letting goods go at old prices: then
there were discounts. first > per cent.
then 1 per cent, then 5 per cent. and
at length, in some instances, 10 per
cent.
The importers had to have money.
and the goods were sold. The low
prices made them sell. and October
had an enormous trade that ought not
TO have been until March. Now.
when you go TO a customer YOU find
that YOUR sales of last fall are all there
his shelves. lie has not sold
them, he is well supplied and wants
no goods this spring.
That is to say. the result was exactly
what an intelligent man might have
forescen. The importers all rushed
goods into the country. prices did not
advance. and they were obliged TO sell
them for what they could get in order
to obtain the money. The clamor of
the free traders about mckinley
prices" materially helped the result.
When the word goes out that certain
lines of goods are going 10 be very
much higher. and that these high
prices are going 10 continue pcrInan-
emily. We may be very certain that
Wv l'dtt VI lIit ttlliiiiuliilN Will tuH-
cludc TO do without them. and buy
other grades instead: and that another
part, i'll place of rushing in TO buy.
viii have the sagacity TO wait and see
what the new prices will be. The re-
suit was, the demand for these goods
fell of cnor;nG>ly. and now that the
second class are beginning to buy.
they find prices are no higher than
they were under the old tariff law,
and in a great macy cases a shade
lower. The net result of the action
of importers was to make business
much quicier tl.an il otherwise would
have been but tor their excessive im-
por:ation>; and n few people who were
mi>led by the cry OF "hIGh prices" lost
a little money. business men have
had an obicc: lesson which has taught
them that the way to attract custom
is To advertise goods as being cheap.
not as being dcar-a lesson that Will
last them for some time i'll the future,
We fancy.