New-York tribune., 1894-10-09
THE POCHET DIGESTION.


-Four years ago the Mckinley tariff went
into effect The changes during those four
years. in ,hc wages Of labor and in cost of
living have been enough 10 deserve especial
attention. and will decide the votes Of mil
lions in the election This year. Recent events
il is true. represent not thc results Of that
tariff. but the results If prolonged effort I"
overthrow it, and such results of the new
tariff as have thus faf been Developed In
wages there was substantial advance from
October 1890 To October, 1872. resulting nat
nraly from the increase in many branches OF
manufacture and the larger demand for labor
and there has since been Il great decline in
consequence Of thc closing of many "Siah-
UshmcniS. ana The inability Of others to com
pete with foreign manufacturers while paying
the old rate of wages. In the cost of living
there was no increase, but a slight decrease
between October. 1880 and October, lS92, ana
there has since been Il considerable decrease"
In an article contributed to THE London
ContcmporaIv Review Mr. Andrew Carnegie
shows why 1t is that the cost of living is much
less in This country than in Great Britain. food
being cheaper. whisicy. beer. tobacco. tea and
coffee bearing less taxation. and anthracite
coal being as cheap in Ncw-lOrk as hiiumi-
nous coal in London, although worth two or
three times as much. The difference in thcN"
items altogether outvcishS the higher rents
and cost of some manufactured products here
II did not suit Mr.. Carncgics audience nor
perhaps his purpose to point out the fact that
all this was equally true under the Mckinney
tariff Prices are lower since the Democratic
change" began. mainly because wages nav"
been reduced. and it may be noted that the
n,fis len ~
week TO It's 5000 hands that il wished to make
a reduction in all wages except for common
labor on the ground that 1t could not continue
To pay the present wages owing 10 hhrd Times
and low prices. although il has already reduced
wages materially since 1870.
Prices are lower than they were tWO years
ago. but not 50 much lower as most people
SUPPOSE The average decline in prices Of all
commodities has been about : per cent during
the past year, about Il per cent. sine" October
1892, and about II per cent. sine" October !,
1880 To avoid confusion prices Of October !,
1890. are taken rs The standard in comparisons
which follow OF the decline in four years
about H.. per cent is due to the fall in prices
of The two materials Of textile industries wool
and cotton because Of the depression in these
industries About per cent OF III" total lie
crease is due 20 the fall in brcadStuif> hr-
cause of the exceptionally large European de-
mand Ia 1890 and little j. due 10 thr fall in
sugar which bore duty Of cents per pound
October |. 1890 and has not yet shown the
fun effects of the smaller duty recently i'm
posed. The fan ia lie pi,ccs ~ all manuflc
turcd articles. reckoning each according. to il
proportion In the general cost Of living j. Il
little less than per cent of ih" total cost
since $500 and not quite , per cent. since oc
tobcr. l>92, nearly all Of it during the past
year.
The cost Of living had been affected hy re-
duction in manufactured products nearly per
cent In The two years under The undiSturbrd
operation Of the Mckinley law up to October '
1872. and has since been reduced nearly per
cent more AZ the expense Of tremendous +
Of wages How far prices of bread
suns meats. wool and cotton have been n
fcctcd by tariff agitation. and how far 10y other .
causes is a question about which there may .
be wide differences Of opinion Bur il j. 10y nu .
means difficult 10 see that. when Mr.. Car ,
ncgc proves that the cost Of living was ac-
tually lower two vca-S ago I'm this country than I
in Great Britain. he nislifics the claim that The
difference j. somewhat greater now because I
Rrilsh prices have changed much less than F.
prices in This country In other Respects the .
change has been the wors" for Americans. he .
cause wages across the water are on the whole F.
10 lower than they were in 1N!,2. while in this .
country there has been marked decline.