New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-11
tribe md TIE TARIFF

II is not strange that Democratic journals
are cxtrcmcl, anxious to keep cut OF sight
the evidences of depression in the great in
dustrics Men Of every shade OF political opln-
ion are properly anxious to make the best OF
the situation. and would heartily rejoice to see
evidence that better days have come. But II
is the extreme of foolishnesS for any to pre-
tend that the proposal to change the tariff has
milking 70 do with the state of business. One
cannot talk with practical business men. here
or at the West without pcrceivlng that their
action is and of necessity must be, largely IN
nucnced by the uncertainty which exists about
future duties OH imports.
Take the case Of the manufacturer of wool
len goods or his selling agent. They know
that many varieties of such goods arc even
now imported paying an average OF over 80
per cent duty, and they cannot help asking
themselves how much of their business they
will be able 10 retain if duties arc greatly re-
duccd. At present they are helped to some
extent because the price Of wool has been re-
duced long way toward the Frce-Trade level
but they arc perfectly aware that with wool
so cheap hocks are apt to he very rapldIj
diminished. 80 that the supply VIII fall even
further below tho demand. \ moderate IN
crease of activity in manufacture would thus
put the price up far that competition with
foreign works might become impossible. How
much foreigners may advance their goods II
the American market is thrown open to them
manufacturers here can only guess, but 1t Is
to be presumed that the foreigners will at first
exert themselves to destroy the competition
by underseling and until the mills have been
closed and their working force dlsorganzed.
Afterward, what the foreigner may charge ma,
depend upon himself.
Ii is evidently stupid thing to suppose that
these uncertainties do not affect the action Of
the manufacturer. lie ;cannot afford TO aban-
don the field entirely 10 rivals Yet he has to
buy the wool and pay wages and begin To make
up goods which will not get into actual con
sumption for nearly year from this time and
il is utterly impossible for him TO know
whether nc will then he able to sell the goods
at all. True. his samples are shown and orders
are received, but he is perfectly aware that he
is entirely powerlcsS 70 enforce the agreement
if when goods are finished the purchaser re-
fuses 10 take them, or If al any time before
they are finished the order is countcrmanded.
The thing has been done in hundreds If not
thousands Of instances within the last month
or two, without the plea Of stern necessity
which would be raised if the market should be
flooded with cheap foreign goods. 1t is no
wonder if, under such circumstances, the
manufacturer and the agent act with the ut
most caution. and hesitate u make up goods
of kinds which might he undcISold if the
duties should be changed. On the contrary,
it would be amazing if trade were not for this
reason much restricted.
Neither can the buyer, whether clothier or
wholesale merchant or retail dealer, determine
what goods he is likely to be able to sell or
whether, if the goods are sold on time, as usual
the seller will ever get his pay. Before the
notes or bills fall due, the duties may be SO
changed that the goods cannot be sold except
at loss The retail dealer is forced 10 hest
tate, in like manner, as TO all goods that he is
not quite safe to sell within n comparatively
short time. These are things which must in
the nature of the case affect the trade seriously.
and no manswith grain of sense in his head
would imagine that they would not affect it,
The surprising fact is, not that some shrink
age in such business appears, but that there
is so much courage and enterprise and hope
funcSs, 50 that the shrinkagc in trade is not
greater than il is.
1t is natural that. rs we draw closer to
the time when a change of duties may take
effect, the influence Of this uncertainty about
the future should be somewhat increased. In
one branch of business after another. accord
ing to the time necessarily eapsing between
production and final consumption, the effects
of the threatened change are perceived. When
the people voSd for change last November
most of them were far from realizing what the
unavoidable consequences of their act would be.