The Providence news. (Providence [R.I.]) 1891-1906, 1894-11-01


| goods have been lowered in price 10
American consumers under the opera
tion of the Mckinley tariff law, which
is still in force with respect to the goods
dealt with by Mr.. SCHoENHoF. The
comparison Of prices, and the computa-
tion therefrom OF the savings to consum-
ers, bears relation wholly TO the high-pro-
lection regime Of the Mckinley law.
There is not a scintilla of evidence TO
show that the fear of. foreign competi-
tion had depressed the prices employed
by this writer TO fortify his extraordin-
arily hare-b Drained assumption.
In one part of his article there is a
single line that shows il TO be his inten.
tion TO claim for tariff reform" the evil
dent lowering of prices. With that almost
undiscoverable sop to his conscience he
goes on through three columns of shuf-
fling statement and Juggling TECHNICAL
ties to foster the impression, conveyed
by big headlines and indirect assertion,
that all lower prices of woolens have
been directly the result Of "tariff
reform"
1t is not only apparent, from the
argument Of Mr.. SCHoENHoF itself, as
well as from all the other elements of
fact and probability surrounding the
conditions of lower prices for woolen
goods, that if there is a political element
of credit it should be rendered to the
Mckinley law, but also that the condition
brought to notice is only one phase of
general condition.
Let any other class of goods that
enters actively into the problem of the
daily lives of the people be taken and
treated as woolens are here treated. The
result would be like in nature If not
equal in degree. Cotton goods, which
were treated leniently by the Wilson
tariff law, have fallen in price. The
fall is not attributed to 'tarif reform"
Why does not Mr.. SCHoENHoF give
"tariff reform" credit Tor low-priced
flour? Why, in fact, might he not as
justly claim for that foggy immaterial-
ism the whole credit for the reduction
in the cost of necessaries of life since
1860? Mr.. EDWARD ATKINSON says that
the reduction in the period named has
been 80 per cent.
OF course the real causes of the re-
duction in the prices of woolen goods
ure the same that have operated to re-
duce the prices of almost all commodi-
ties. Primarily 1t is due to improved
methods of production and manutac-
ture; secondarily, there is the depressing
effect of the financial crisis of last year,
which caused everything demanding a
money equivalent in the market to ner-
vously offer itself below ruling prices.
The real value of Mr. ScHoENHoF's
argument is, then, to show that, under
the fostering influence of the Mckinley
tariff, the processes of the manufacture
of woolens so improved that competition
for the home market bore prices down;
and that the influence of the financial
panic, chiefly caused by Democratic
shufllng and inaction in Congress, still
further - and unhealthy - depressed
prices.
The besotted intelligence that can
claim now that the Wilson tariff has
reduced the price of woolens in any ap-
preciable degree is one of the manifesto
tions of Democratic ignorance, or Demo-
cratic attempt to hoodwink the public,
that comes partially as a surprise. Few
people credited the Democrats with
such dense ignorance or such obliquity
of moral sense.