The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-22
SPECIAL FEATURES.
Inconsistencies and Wrongs I'm the
Wool and Other Schedules.

Wool and Other Schedules.
Following are the important features Of
the subjects treated of specially by The NH
no.-ity members of the ways and means
committee. In discussing the wooden sched-
ule the committee says:
This schedule, as proposed in the commit.
tee bill, is in some respects The most repre-.
nensiole. IL proposes TO destroy at a blow
the great industry OF wool growing which
now ranks as seventh in the value of its
products among the several branches of az
rsculture and which has heretofore been
recognized as an agricultural product de-
serving and requiring protection under ev-
since that OF May y. 1894 Nothing short
or the total destruction OF this important
industry can be counted upon as the conse-
quenee OF placing both wool and mutton
on the free list. IL is a fact. established
by experience, that at the prices OF wool
now prevailing in the foreign markets, our
farmers cannot continue the business of
wool growing without absolute yearly loss.
During the past year, owing 10 the i'm
pending threat of free wool and radical
the prices OF domestic woods OF all descrip-
lions have fallen from 30 to 80 per cent.
below the prices that prevailed year ago.
Even at these figures there has been little
market for wool, and many farmers have
still on their hands this seasons clips, which
at this time last year was being rapidly
converted into goods by mills which now
stand idle. The value of the sheep has
fallen equally with their clip The depre-
ricultural property from the two sources
may be conservatively stated at SJ0.000..
co.,
The bill deals with the wool manufacture
in terms scarcely less radical than those
accorded the wool-growing industry. upon
which IL so largely depends. IL proposes 10
revolutionize the manufacture of wooden
goods by transferring IL from the basis %
dutiable materials TO free wool, a chanss
more radical than any textile industry in
any country was ever forced TO make With-
out the most careful provision for a safe
and gradual reimbursement. Ignoring this
feature of the situation, the majority would
compel our wool manufacturers 20 make
this leap in the dark Invested OF the safe
guard OF specific duties and subjected "a
lower ad Valorems than viii Offset ths
difference in cost OF production. We have
secured in the United States a magnificent
$00.O00,0OO is invested, making every variety
of wooden goods and employing more than
a quarter OF a million operatives This Inc
dustry the majority offers up as a sacrifice
on the altar of tariff reform"
The time allowed by this bill Is of no
more service than no interval at all. The
manufacturer must lose an entire season.
for IL he manufactures goods his loss viii
be greater than though he kept his mills
closed. The terms Of the bill are equivalent
to an edict from the committee commanding
every wooden manufacturer TO shut down
and keep shut down until the bill becomes
into the streets. The bin has been carefully
devised, apparently, for the purpose OF
Gripping the domestic manufacture i'm adj
bruised and broken when the time arrives
for him TO begin competition for the market
under duties from 90 TO % per cent less
than at present. The punishment meted out
TO our wool manufacturers for daring 10
invest their capital I'm this useful and inn
portant industry is severe and condign.
THE METAL SCHEDULE.
The metal schedule presents some features
that illustrate in a significant way the
illogical character Of the bill. Among these
may be mentioned the substitution, in al
most all cases, Of ad valorem for specific
duties; the making free a number OF arti-
cles called raw materials" the disregard
OF the relations that exist between more
anu less finished products, and the totally
inadequate duties named upon certain lead
ing articles. Some ideas seem 10 have pre-
vailed in the minds of the majority 20 the
effect that duties should be adjusted In
proportion to the advance OF the article in
manufacture. The idea does not seem how
ever, TO have been very successfully worked
out. For example iron ore is made free.
and reckoning 90 per cent OF metallic iron
to be ton OF ore, the manufacture OF pig
iron Is given an advantage as 10 duties OF
sl-S5 on ton on this product But. on
the other hand, the amount OF protection
thereon Is reduced about $3.50. The ingots,
which are the raw material OF steel blooms,
are made TO bear duty OF > per cent. ad
valorem; the blooms which are the raw
material OF steel rails. bear the same duty,
and the steel rails. the last finished prod
uct, bear the same also. such incOngruities
run all through the schedule. and are APP
parent 10 any one familiar with prices and
products OF the iron and steel manufacture.
That which lies AT the base or our iron
and steel industry Is iron ore. The existing
duty thereon Is 40 cents per ton. The reve-
nues from it's importation aggregated. in
the last fiscal year. over half million OF
dollars (S.,07. S76. l9.) II Is proposed. under "A
"tartn bill for revenue only. 10 throw