The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1895-10-18
HOW PRICES ARE CHANGED.
Effects of the Democratic Tariff on Trade
and Industry.


and Industry.
The change in prices under the oper-
alton of the new tariff has been Of
such a nature as to amaze the free
trader. 1t was his theory that protec-
ton had no effect whatever upon prices
of foreign products, and that removal
or partial removal of protection would
not tend TO lower such prices, but that
it artificially advanced prices of manu-
featured goods, and that even partial
removal of these burdens would render
such products cheaper for farmers and
all other consumers. Theories are
pretty until they are tested by facts
The democratic tariff went into effect
August 2S, and on the 1st of September
the aggregate cost of several hundred
articles included in the American list,
quantities being prOportioned TO actual
consumption, was SS4, 79S. but on the
Sd of September 1895, the 1st being
Sunday and the I'd a holiday, the same
qualities of the same articles cost S77,-
311-a decline of more than per cent.
Prices fell, yes. But the fell wes in
| prices of farm products, while manu-
featured products scarcely changed.
Taking the prices for September and
September 3, the aggregate for farm
propucts was O,731 in 1894, and fell
to S33, $40 i'll 1864 decline of us per
cent But at the same dates the price
of all other products was Si4,O67 IN
1894, and 1876 in 1864 decline of
only three-quarters of per cent.
This may seem Incredible to free
trade theorists, but there is nothing
amamazing in it. Prices of manufac-
tured products had been reduced, in
expectation of a worse tariff than was
actually passed, so that they really
were lower when the German bill went
into effect than they are to-day for
many products. The entire effect of
the bill, and in some products more
than its entire effect, had been antici-
pated and discounted, alike in prices
of manufactured products and in wages
of labor. That was the direct cause of
the terrible prostration in 1898 and
1894. Sugar had been advanced in ex-
pectation of the new tariff so that
crushed sold at So cents, but it has
now declined to 4sI cents, though since
September it has advanced to ~
cents. Whisky had been advanced to
S1.33 by the ring, which was bank
rupted by the dishonest favors 1t had
purchased, and the product is now sell
ing at S122. The average of eleven
quotations Of iron and steel products
is now nearly 80 per cent higher than
a year ago. Wool costs substantially
the same for low qualities as year
ago, and while some wooden goods are
little lower, few others are higher.
Boots and shoes and other products of
leather have advanced, and nearly all
cotton goods because cotton has been
higher. Thus in the aggregate the
prices of manufactured products are
almost as high as a year ago.
But with farm products the case is
different Cotton is higher because
the crop is short, but 7,OOO,O 900 bales at
present prices would be worth $780,
900, 900 less than O,OOO, 900 bales at last
years price. Wheat also is higher, but
with short crop and similar results.
Corn is 20 cents lower with a large
crop, pork 81 lower and lard "a cents
lower. Beef is a little lower, and
vegetables, dairy products, eggs, oats,
beans and peas. The farmers of the
Atlantic coast and the Canada border
must compete more severely than be-
fore with imported products, and hops
are 80 per cent. lower. The farmers
lose both ways, by short crops and by
extremely low prices for the crops
that are not short. This is not wholly
or mainly because of foreign competi-
ton, though that has played its part,
but the larger fact is that the people,
having lower wages than in former
years of full crops, do not consume as
much, or if as much, cannot pay as
good prices
1t is true that the comparison is not
Just in one respect, as all the demo-
cratic comparisons are not, because the
depression of wages and prices befor
the new law went into operation was,
in fact, the effect of the declared pol
icy of the party now in power. But if
we look back to the last year of full
prosperity under the Mckinley tariff,
we find these changes in three years:
Manufactured products, ga per cent
lower on the whole; wages, notwith
standing recent partial advances, still
from 10 to Is per cent. lower, and farm
products taken as a whole 1876 per
cent lower. If free traders will put
these three facts together they will
see that the people do not spend more
than they earn, and if wages are low
the farm products get more than two
thirds of the decrease, and manufac
tured products less than one-third.
The farmer is dependent, to an extent
which few realize, upon the ability of
the people to purchase without delay.
The manufacturer, as a rule, can store
his products, work shorter hours or
fewer hands, and wait.-N. Y. Trib-
lne.
Cleveland Wants q Pointer.
Hello, Central"
what number, please|
Connect me with the City of Mex
leo! wish to speak with President
Diaz."