The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-16
PROFITS MADE BOTH WAYS.

PROFITS Made BOIh walls
A tariff always affects prices. That
is what it is for Profits are to be made
when tariffs go down or up. Six years
ago we read Of steamers loaded down
with sugar, standing off the coast,
waiting for the Mckinley BILL that
took all tax off raw sugar, to become
operative. The gain to the refiner in
the saving Of taxes paid for the de-
murrage and left a handsome gain.
Four years later we saw these vessels
crowding on sail and steam to get their
sugar cargOes into port before the 40
per cent tax Of the German bill fell
on imports. Every pound that came in
free meant so much profit after the
tax went into operation. At the same
time we saw the vessels bringing wool
from Australia and Argentina standing
off Boston harbor, refusing to land
their cargoes until after the provi-
sion of the Wilson bill making wool
imports free went into operation, saw
ing to the owners tax of II cents a
pound.
Now we are seeing the process re-
versed. A Boston disptach says that
Boston wool merchants bought $4,000
bales of wool at the last London auc-
ton, and the receipts at that port last
week were over 10000 bales. The wool
warehouses are filed and the mills have
stocked up with from one to three
years supply, while owners are ran
sacking Boston for places to store the
incoming wool. Old sugar houses are
being used and the ordinary CONNER
ciaI traffic is being interfered with.
Why? Because the Dingley bill is sure
| to pass with the restoration of a tax Of
II cents a pound, and, as foreign woods
will be increased in price that much,
there will be a profit Of that amount
on every pound that can be imported
while it is on the free list. Meanwhile
! the customs report receipts Of other
merchandise taxes in amounts unprec-
! edented. Receipts for March were over
| $22, 100000, twice the average for that
month. Why? Because the duties on
the articles withdrawn from bond are
to be materially increased in the new
tariff, thus increasing the cost Of subse-
quent importations and their prices,
and thus giving to importers getting
! their goods in now an extra profit Of
the rise. Meanwhile, Dingley tries to
! bluff the importers with his retroactive
provision.
And who pays these tariff-made
profits? The poor, simple gossoons who
clap their hands in acclaim of this pro-
lection to American labor, and don't
know they have to help pay them, and
! those others who know that they have
to pay their share but are helpless.
| Not alone these profits, but what may
be called the sympathetic ones. Wool
ems, for instance, are woven nearly a
year ahead of their getting onto the
shelves of the merchants. Heavy
woolens for next winter are about fin
ished now, and the lighter fabrics Of
! 1898 are on the looms. But the mark
! ing up process will begin when the
| Dingley bill IS certainty, ana raise
prices Of fabrics whose material was
not affected in price by the change in
| taxation. So with cottons and all other
articles the schedule rates on which
will have been altered. The merchant
! is quite as willing to make an extra
profit as the importer or manufacturer.
He naturally and justiiably takes adj
vantage of rising market, because he
! has sometimes to stand the losses of
| falling one. Whichever way tariffs go,
| up or down, the shrewd traders find
| their way to make extra profits. But
what incredible stupidity it is that re-
! CARDS a method of getting revenue that
! thus disturbs trade, loses revenue and
! gives unearned x.rofits as one Of the
! divinely ordained methods which it is
! blasphemy to question.