The Globe-republican., 1892-09-30
A BUSINESS VIEW.
Tho Tariff Seen Through Business Spec.
tacles.
Especial Correspondence

tacles.
Especial Correspondence
NEW YORK, Sept. 5.-As was pre-
dicted by its author, the Mckinley tar
if law is vindicating itself. Evidence
to that effect is accumulating all tho
time. Thousands of people who con-
demned the Mckinley bill" when it
was passed as being - step too far"
now frankly admit that they were mis-
taken, as many New Workers are also
doing.
George w. Belts, of the firm of F.
W. Devoe & Co., corner of Fulton and
William streets, makes most interest
ing statement as to the effect Of tho
Mckinley bill on his business. Messrs.
Devoe g. Co. are wholesale dealers in
paints, oils and artist materials. They
have been established since 1852, and
have a very extensive trade, both do
mestic and foreign.
Mr.. Belts is a typical independent.
As such he has held more or less pro-
nounced views on the subject of tariff
reform.
81 confess that was opposed to the
Mckinley bill when it was under consid-
Grafton in congress-" said Mr.. Belts. Il
thought it went too far and believed that
the Republican party was making seri-
Gus mistake in passingit. Ibid not think
that 1 should ever vote the Republican
ticket again. Many of my friends who
had Republican antecedents felt the
same way. But since I have observed
the actual operations Of the Mckinley
law and its effect on the business inter-
ests of the country my views have
changed.
There are still many things in tho
Mckinley bill that / believe could be
improved; but take it as whole, judg-
ing from results coming under my per-
sonal observation, l have no hesitation
in saying that the law is a positive benefit
to the country, and is a vast improve
ment over the legislation the Democrats
have suggested to take its place. Take,
for instance. the reciprocity and draw
back clauses. Reciprocity is opening up
the markets of Cuba, Jamaica, Porto
Rico, Brazil, Mexico and other countries
to the south of us. We are shipping
more goods TO these countries than ever
before, and H. is all on account of reci-
procity.
"Under the reciprocity agreement our
goods are admitted to these countries
under a tariff 25 per cent. less than the
commodities of England or any other
country. That gives US great advan-
tage, and We are beginning to reap tho
benefit of it.
Business is business the world over
and merchants are going to buy their
goods where they can get them tho
cheapest. IF we can undersell our Eng
lish and European rivals we will GER
tainly gain the bulk of the trade of tho
countries to the south Of us.
81 believe" added Mr.. Belts, "many
Independents will vote the Republican
ticket on account of reciprocity. There
is very little politics in business. A busi-
ness man will not support either party
if he believes it is against his interests to
do so. I would not myself.
''The drawback clause is another mat
ter. Reciprocity gives us new markets
in certain countries. The drawback
clause in the Mckinley tariff law is of
almost equal importance, although it is
less understood and appreciated. The
drawback law enables our people to
compete with the world. Under it we
can import raw materials or manufac-
tured articles from abroad and get all
the duty back except l per cent. when
we export them.
''This applies to every line of goods.
There are many things we can make
cheaper here than in England, and yet
we can buy the raw material that enters
into their composition for less money
abroad. Thus by importing the material
and making the articles here we can
undersell England or any other country.
The tariff is business question. I am
not politician and have never been q
partisan. In theory free trade is all
right. but my observation has been tha.
the theorist makes q very poor business
man."
Every pension measure except one which
has ever passed this house haSbeen passed
BY Republican votes, and would not have
passed II there had been none but Demo