Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1891-08-26
The Tax on Stockings.

On cotton hosiery, known to the
trade as full fashioned, and which con-
stitutes the quality in general use by
nearly all classes of people, the duties
were increased by adding d special tate
to the already exorbitant and useless
tariff, except that upon the lower
grades q reduction of one fifth of the
ad valorem rate was made, leaving the
net increase in the duties on that class
of goods one of 373 per cent.-from 40
per cent. to 55 per cent. On all goods
above 80 per dozen in value the in
crease is equal to the specific rate
added to the former ad valorem rate
of 40 per cent. On goods costing be-
tween 50 and 81 dozen, r. cents a
dozen was added. On goods costing
over 81 per dozen, the addition was
81 per dozen.
The tariff had been designed to pre-
vent any further importations from
that point. Many of the German
manufacturers at first thought it would
accomplish that purpose, and the en-
tire district was for a time seized with
something of a panic, during which
long established factories were held at
terrific figures, with no takers. The
Germans were equal to the situation.
The buyer for one of the largest i'm
porting houses in New York, who is at
present in Washington and has just re-
turned from Europe, said to your COR
respondent to-day.
1.-THE Germans have met every in
crease caused by the Mckinley bill.
They have done it by cheapening the
products of their mills at the expense
Of the consumer. We get the same
stocking as before in appearance. but
1t is nothing but trash. Instead of the
respectable two-thread yarns we were
all so particular to get before, we now
get miserable single thread that has
hardly strength enough to hold togeth-
er while it is running through the
looms. Then they have cut down the
cost in every other direction, too-in
the wages, in the dyeing, the finishing,
sorting, labelling, boxing. They say
to US: you cannot increase your
prices to the consumer so as to cover
the increase in the duties, yet you want
the same article here it is, only you
must not scrutinize the quality too
closely. You may have the same arti-,
Gle. substantially in appearance, hut
not in quality for the rest you may
thank Mr.. Mckinley and his
friends.
What are we to do? There was no
domestic hosiery to take the place of
the goods we have been importing for
over twenty years, and to bring in the
same class of goods as before and ex-
pect to get from 30 to 30 per cent more
that was out of the question. The
people wanted more tariff and they are
getting it. 1t must be borne in mind
that the additional duty is not the only
increase which the consumer will have
to pay. He must also pay the profits
of the importer, the jobber, the retailer
on the increased duties. For instance,
suppose dozen of stockings to have
cost $2.10 in Germany, the duties un-
der the Mckinley tariff would be "a
cents ad valorem and rs cents specific.
That would make the landing price
$3.50. The importer would charge a
profit of 20 per cent. making the cost
to the jobber SAB. The jobber's
profit Of rs per cent. would make the
cost to the retailer 1854 and the re-
tailer's Of 40 per cent. would swell the
cost Of the stockings to the consumer
to s7.76.-Republic Tariff Depart
ment.