The Hartford republican. (Hartford, Ky.) 18??-1926, 1910-06-10

err; and after all that can be said up
on the subjec. demand and supply reg
ulate the price of every article that
is bought and sold. 1t is true, tha.,
where an article has borne a partic-
ular price in any market for series
of years, II a duty be laid upon 1t,
the merchant always endeavors TO
persuade his customers that he ought
to have just that much more for ut,
because he has to pay more; now, II
he pays the same price, is at at the
same cost in transporting, makes the
same profit, and then adds the duty,
1t is evident that the price is en-
HANGED the full amount of the duty.
But is this always the case? By no
means. Merchants, in making their
purchases, are In the habit of look
ing to the state of the market in
which they expect TO sell, and asking
themselves what profit this or that
article will bear; or in other words,
what is the demand for 1T, and how
much can / sell it for; what will 1t
cost me to gst 1t to market, and how
much can / afford TO give for II; If
he thinks 1T will yield him a suffi-
Gent profit, he will buy; If not, he
will not. Further to illustrate this
point, We will suppose that a mer-
chant has been in the habit of selling
a particular kind of cotton cloth at
fifteen cents per yard, that he gave
ten cents per yard for it, and added
five for costs of transportation and
profit; and there was a manufacture
ing establishment in the same neigh
borhood that could make and sell the
same article at fifteen cents, and
could make enough to supply the mar
ket by a small increase of business;
and in this STATE of affairs We levy
duty on the imported article of two
cents per yard. Now, the merchant,
when he goes to purchase a new
stock, will say to the manufacturer
abroad, 81 cannot afford 20 give you
ten cents per yard as | have been do
ing, because / can only get fifteen
for 1T; it is made there, and sold at
that price, and enough can be made
to supply the demand altogether and
will be, If l attempt to raise my
price. Now, / have been making a
handsome profit, and can afford to
give You nine cents, pay the duty,
and still make profit that l am
willing to put up with; will you take
it?" The manufacturer reasons thus
81 have been in the habit of selling
to this man, he is a good customer,
and if l don't sell to him | mus. keep
the article on hand or force a sale at
home; l had better take the nine
cents, though the profit is very small,
than keep 1T on hand,or glut the mar
ket at home and perhaps injure the
sale of THE balance" AID he re-
plies, 81 WILL" the bargain is made,
the article is still sold at fifteen cents
and the consumer, though he pays
the duty, gets the article at the
same price, the original maker falls
one cent, and the merchant puts up
with one cent less profit, and the con-
sumner is not injured. When duties
are first paid, the prices usually raise;
this encourages our own citizens to
undertake the making of the article
at home; they invest their capital,
commence the business, and ait first
drag on heavily; by experience, they
increase in skill they make more of
the ARTICLE with the same amount of
labor, and of course, make it cheap
er, and can afford to sell it chep-
er. The success of one manufacturing
establishment causes Others to enter
into the same business the supply i'm
creases, competition brings down the
prices to the very lowest point at
which the article can be made and
sold without loss, the market be-
comes overstocked, and they have to
seek other markets, and thus COM
merce is encouraged and extended.
seeing the success of these, other
manufacturing establishments spring
up in other parts of the country, and
in Other articles; and in this way, by
a wise use of this power by Con-
grees, have manufactures OF iron, of
cotton, of wool, OF hemp, and OF ev-
erything else which is calculated to
render us happy, a united, and an
independent people, sprung up as If
by magic; and | pray God they may
continue until we shall he dependent
ON no otherr nation for our supplies,
but have the proud satisfaction of
knowing that our soldiers and sailors
are defended from the cold by the
manufactures of our own country; that