Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1892-09-29

street, and from So to 80 cents each in
stores. On another style which used to
cos: $3.50 the duty Q05 per cent is pro-
hibitive; but the blades and handles are
imported separately and the knife is sold
here for sees per dozen. Thus imports
have already checked the advance on
some styles.
The Manufacturers association is prac-
tically trust so far as regulating prices.
demanding high protective duties and
keeping down wages are concerned.
Many of the larger manufacturers, how
ever, have been in favor of much
stronger organization, capable of regu-
lating production and of sustaining high
prices and profits. A few months ago
four of the largest firms agreed to COM
bine under the name of the United
States Cutlery company, with capital
of 100000. Their prospectus said
'sThe business of these companies oman
featuring IS per cent. of all the pocket
cutlery made here) has steadily increased
year by year, and the net profits of these
companies for period of over three
years are largely in excess of the sum
necessary to have paid per cent. divi-
dends upon 100000 preferred stock"
1t is also claimed that the new company
could pay dividends of per cent on
$500, 900 and Is per cent. on the other
$500 200.
According to the testimony given in
1890 before the ways and means COM
mittee the combined investment of these
four companies was only $4,000 The
manufacturers then put on long faces
and tried to make the committee believe
that the pocket cutlery industry was
about to expire under a so per cent
duty. 1t now appears that they were
then making ''largely in excess" of IS
per cent. upon their actual capital
Gs4OO ,0OO, and that they are now in
shape to make 46 per cent on this same
amount. They add in their prospectus
that ''prices upon cutlery have never
vet reached those which could have been
asked by the increased rate of tariff. !"
| That their claims are not extravaganza is
evident from the announcement in The
House Furnishing Goods Weekly of
| Aug. 4, 1892, that ''the Southington
Cutlery company, of Southington, Conn,
has declared quarterly dividend of 8
per cent" 1t is clear that the increased
duty was obtained under false pre-
lenses, if not by actual fraud. And
these are the class Of men who reap the
benefits of McKinleyism.
Notice now how these spoils are di-
vided between the manufacturers and
their employees. The Republican press
points with pride to three companies
the Canastota Knife company, the New
| York Knife company and the Thomaston
Knife company, employing altogether
about 400 hands-that have advanced
wages about 10 per cent. 1t is true that
since 1890 about three-fourths of the
EMPLOYEES in these factories have OBJ
| tanned advances that will average be-
tween and 10 per cent. These advances
have been secured only because the en-
ployees were organized and struck or
threatened to strike for higher wages.
Strikes are now on in three other fac
tories. But suppose that all of these
400 employees have had their wages ad-
vanced 10 per cent. and that they earn
an average of 5000 each year (the &C
-
tual average is much less). Their total
benefit from the new tariff (admitting
that it made the advance possible) would
thus be less than $4,000. The yearly
product of all the factories is worth from
| 81 SOC, 900 to s., 900, 900. The per cent.
advance in prices then increases the
profits of the manufacturers about $780,
600. That is, the manufacturers have
retained 95 per cent. of the spoils and
grudgingly yielded up per cent. to the
wage earners.
The American user of pocketknives
has taken $500, 900 out of one pocket and
made it present to these foreigners for
the privilege of carrying an American
knife in another pocket, and this in
addition to similar amount bestowed
upon the same foreigners under the 90
per cent. duty prior to 1890. If this be
the best that Mckinley can do for us il
is time we were finding it out. 1t will
be money in our pockets some day.
WHO PAYS THE TARIFF?