Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1891-08-22
OPERATION OF THE TARIFF.
The Expected Advance in Prices Not Re
allied.

The Expected Advance in Prices Not Re
allied
The New York correspondent cf the
London Diapers (dry goods Record, IN
forms the readers of that journal that;
"One curious feature OF the new regime
is that the expected advance in prices has
not followed the imposition Of the new
law. This is due to several causes. In
he first place, the passage of the act has
stimulated domestic production to a pro
digious extent.
The Tree trade journals of America have
5een busy assuring their readers that the
new tariff law has not stimulated our
home industries, but the New York cores
pendent of the London trade journal adj
vises his readers, who are manufacturers
or exporters, not to hope for any great Ie
vival of their trade with the United
States, for Sin the first place, the new
| tariff has stimulated domestic produc
! tiov to a plodlglous extent.
! The correspondent also informs his Eng
| fish readers chat this stimulation OF do
nestle production to a prodigiou7 extent
| has had the result of preventing any in
crease of price The worst enemy of the
| American free trader is the British free
| trader. The British free trader feels the
! trnth of the increase of American pro-
! luction, and he sorrOwtully acknowledges
| it. The American free trader perseveres
| in denying the increase Of production,
and of its effect in lowering prices; he
would be more able to deceive his country
men if the British free trader would re.
| frain from telling the truth. But 1t is
! hard to take punishment quietly, and the
! British manufacturer or exporter, who
long has had control Of the American
markets, can not repress his sorrow, as he
feels our increase of domestic prod1c-
tions to "A prodigious extent.
The American free traders made two
predictions concerning the new tariff, one,
| as they thought, sure to be verified If the
/ ther failed.
The first was that increased protection
would not greatly, or, at any rate, not
speedily, stimulate American manutac'
lures, and that the increased duties would
be 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 s0rrowiuily ac-
knowledge 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 a prodigious
extent" II is well to use the exact
language of the English writer
The other prediction of the American
free trader was that if the new tariff should
have the effect Of increasing American
manufactures, the result to the consumer
would be that the American manufactures
would raise the price of his goods aa soon
as he found that the new tariff was sutf
cient to protect him against European COM
tetitiOn
The American protectionist predicted
that the new tarif would stimulate our
home industries 10 such an extent as would
produce fierce competition between Amerl-
. 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 voted for protection IN the mistaken
belief that it would enable them TO increase
their prices simultaneously with the IN
creast Of 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. tie says
The idea became prevalent that under
the new tariff the wicked foreigner would
be declared from the market and that
therefore, it would lie open to the domestic
manufacturer The natural result was {
, multiplication Of manufactures and {
feverish activity among the looms, an
consequently low prices.
He goes on to sGv that many American
! manufacturers who voted for the neV
! tariff in belief thpt they would have in
creased protection without the increased
competition which the farmers Of tn
tariff contemplated row are convinced
h that the protection and competition ar
! convertible terms. And the CORES pond
! ent OF the London journal cruelty take
knit goods and hosiery, the very article
upon which. next TO tin plate, the FIRE
traders based their expectations 81 high
or prices on account Of the tariff, a
: evidence Of its eheapning tendency. II
writes thus;
i 80 take a striking example: Amou
&: those most anxious .or the new law wer
i tie knit goods manufacturers IN an
d around Philadelphia. But nov these yer
d men are z umbEng a the tariff and the
= fell II this mood because, instead Of inc
# ing that instant and decided increase
value. for winch tines Hoped. the quats
e ti0ns for underwear ARD hosiery actual
2 show a slight decline
u And then Ee gives prices Of last va