New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-08-16
FREE TRADERS ~ TIE AIR.

The non-partisan investigation OF prices con
Quoted by the Senate Finance Committee has
caused CONSERVATION in Frcc-Tradc England
wherever the results have been made known
The scientific demonstration of the fall OF
prices and the rise of wages under the Nc
Kney act has simply stunned the English
economists They hardly know where they
stand or what reply to make to this conclusive
evidence of the favorable operation of the new
American tariff. "The London Financial
News,n which is ono Of the most influential
journals in England, expresses its amazcment
in this outspoken way, under date of July -,
1892:
Is It indeed possible that English critics. In their
traditional yeneratl0n for the principles OF Free Trade,
have been hopclcssly aud egcgously wrong! We're
our own expectations. In common with those Of the
majority OF public commentators, founded IN en-
tire ption OF the probable effects Of pro
tectlve policy In the states II this report be not
tissue Of arfuly cntrvcd abricatons II would really
seem that these questions ought to be answered In the
Affirmative II Is, Of course, far from improbable that
the report has been prepared by adhercnts OF Mckn
leyism. The time OF it, publication Is nj least
pciously opportune and party zeal In America would
scarcely hesitate at even such q method Of demolsh
Ing opposition. But when all Is said and done, there
stand the positive statements OF tho sub committee In
all their force According 10 these the cost OF living
he's actually declined In tho United states since the
adoption Of the Mckinley art whereas In Great Britain
IL has increased. We rub eyes In amazcmcnt !
Wclc those prophetic voices right after ALL which fore
told an Of prosperity for the people OF the United
states result of their fostering home Industry by
means OF a wall OF hostile tnrinsi
II tho conclusions OF the subcommittee are really
borne out by the improved conditions OF the people, the
Americans will undoubtedly be able henccorth IL put
forward substantial Justification for their protective
policy. We might perhaps 90 further, and say that
Free Traders, ali the world over, will be strongly In
clined TO reconsider their position. II such view
could be sustained in IN exhaustive and impartial In
quiry, the members OF tho Golden Club would be
PEELED to adopt new set Of arguments In fnvor OF
their cherished creed the conventional shIbbolctis
OF a party which had 0ulved its reputation for
sagacity would have to so ANONYMOUSLY by the
board.
Free Trade Inns hitherto been held up to rcverent
regard Oh the ground that In opening our markets
without hndance to all sorts OF foreign competition
we conferred upon the public the benefit Of
chcapening the cost Of living The distrnst OF this
theory limited at by Lord salisbury in May list would
doubt be sccenuated II II turned out that Protection
In tho United States hpd brought about such result
while Free Trade In Great Britain had done the Cd
positc.
The reservation that the investigation of
prices may have been partisan one is, OF
course untenable, since the report was signed
by Senator'S Carlisle and Harris, well known
Democrats and Free Traders. 1.-THE Financial
News" evidently regards the results as genuine,
and obtained In an impartial and scientific way.
1t is greatly impressed with the significance of
the mathematical proof that while the cost of
living has been increasing in England, it has
actually declined in the United States since the
passage OF the Mckinley act. 1t frankly ad-
mits that unless this evidence can be contro-
verted the Golden Club will have to revise its
Arguments, and Free Traders all over the world