New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-05-21
ONE EFFECT OF HEAVY IMPORTS.

The enormous imports Of wool, Of woollens
and other drygoods, and yet more Of sugar, may
possibly have an influence not wholly for evil.
The expectation of profits amounting to many
millions may exert a strong influence, not mere
ly with the managers Of the Sugar Trust and
with others who have large quantities OF i'm
ported products on hand, but with members Of
Congress who are disposed to favor their in
terests. In sundry contingencies the obvious
fact that these anticipated profits would be
sacrificed IL too much stubbornness about de-
tails Of the new tariff should be manifested
may aid to make the work Of harmonizing con-
1icting interests somewhat easier.
The heavy purchases which have been made
within the last few months for the purpose of
hastily filling American warehouses with i'm
ported goods and products have hardly been
made, as a rule, without influencing prices to
some extent. 1t is improbable that such quaint
ties have been suddenly withdrawn from the
worlds markets without raising prices more or
less, so that the shipments to this country
probably cost n little more than they would
have cost If the buying had been extended over
q longer period The sugar for half years
consumption hns involved a large outlay, both
in purchases and in payment of duties, and 1t
is not so certain that the market here and
abroad would not fall Off if through want Of
agreement in Congress the proposed tariff
should fail. In that event, instead Of profits
amounting to many millions, the Sugar Trus,
might have TO sustain an actual loss. especially
Ii the impor;atiCns Of bounty-pad refined
sugar from Germany should be rendered no
more difficult and costly than they have been.
When the managers of the trust are confronted
with such possibility, and find they have to
choose between some actual loss and the re-
stricted but yet large profits which the adj
vance in duties made by the House bill would
give them, it is conceivable that they may not
be inclined to contemplate Il defeat Of the bill
unless they secure everything they desire.
The owners of the ninety-five million pounds
Of foreign wool imported in April at only the
three chief ports are not all manufacturers.
According to current reports, there are engaged
In the operation some powerful capitalists, who
ere quite aware that they would have to ex-
port a large share Of their wool at some loss II
dissension about the precise rates OF duty
should prevent the passage of tariff bill. The
manufacturers also, who have purchased great
quantities, do not fail to realize that they are
TO be sorely embarrassed for months 10 come
by the supplies Of foreign goods which have
been brought into the market and that 1t will
be no easy matter for them to keep their mills
in operation sufficiently 10 consume even the
foreign wool they have brought into the coun-
try. Some profit they would realize under
either form of duty, and if they have to choose
between profit less than they have hoped and
an actual loss they are likely TO be less tena-
cious about every detail Of the measure than
some of them have beel.
There could hardly be more absurd misrep-
rcsentaton than that which has been frequently
heard Of late namely that the unprecedented in
crease Of imports is a result Of the retrospective
provision passed by the House. The obvious
tendency OF that provision has been To diminish
the volume Of importatOns ever since 1t was
adopted, so that if the movement has been
heavy one can only wonder how much heavier
II would have been if there had been 10 deter
ring influence. Whatever effect in that direc-
ton the provision had began as soon as the
House had acted and still continues In some de-
gree because there is ut least n possibility that
the House may not willingly assent TO the omis
sicn OF that clause. II may be granted that its
rassage appears most improbable, and the more
because there are SD many other points of diff
ference between the two houses. But imports
have been large not because but in spite of the
endeavor Of the House TO curtail them.