The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-03-07

There appears to be little doubt con-
corning the passage OF the Reciprocity
measure; and not much likelihood of
any radical tarin revision during the
extra session. 1t is quite possible. how
ever. that considerable tariff agitation
may be aroused IL only for political ef-
feet, especially as the time is draw
ing near for another Presidential cam
paign. For this very reason, however.
there Is little prospect Of any import
ant changes being made in present
schedules. The tarin is altogether too
fun Of excellent political ammunition
to permit Of a prompt adjustment. and
as Il win be the best material for the
forthcoming campaign there is little
reason 20 fear decisive action in any
extra session. Still. tarln agitation
lis a deterrent and not stimulant to
business enterprise. There is more or
less talk Of putting such articles on the
free list as vitality affect the cost of
living. and there is renewed talk of at
lacking the wool cotton and steel
schedules. But as already said. radi-
cal changes are not probable. at least
until after another Presidential cleo
ton.
Time has been given for the fan
cial community TO recover its equili-
brium after shock Of the decision of the
Interstate Commerce Commission.
only railroad managers showed any
serious perturbation. our great bank
ers entirely ignored this factor in the
placing Of their new hotations, thus
proving that they did not regard the
decision as in any degree affecting the
credit Of the railroads The truth is
the railroads failed to prove their case
and no injustice was done them by
the Commission; since, II present con-
ditions are proved to be unavoidable,
they viii have full opportunity for
rehearing after further trial of present
rates. Many of the railroads are report
ing liberal gross earnings. and there
is little doubt but that by means Of
economy they will be able TO continue
satisfactory net results. The stronger
roads, which are in the majority, seem
likely to go on as usual with projected
improvements. Some Of the weaker
lines are already beginning TO econo-
mize and defer improvements. The
effect Of the decision was certainly dis
TO managers and also to
concerns which furnish the railroads
supplies, but there is no doubt what
ever that the decision Of the Commits
sion will ultimately exert a wholesome
and necessary restraint upon recent
business tendencies. Had the railroads
succeeded in making their advances. /
increased demands from labor would
have followed. wholesalers and retail
ers would have been obliged to charge |
higher prices TO meet increased freight /
bills, and the whole effect would have
been to still further elevate prices and !
the cost OF living. In other
words we would simply be continuing |
the ridiculous process Of lifting our
selves by means Of our boot straps; a |
tendency that has much TO do with re- /
cent arrangement and came near
creating a serious crisis by placing the |
United States upon level dangerous
ly higher than foreign countries. OF
late the tendency has been for a re-
duced cost Of living. Food products
have especially declined and many 9TH
er commodities notably iron and steel.
have been on the downward grade
Bradstreets Index Figure dropped |
from 9.23 in January, 1910. 20 S.O7 in
February 1911. This declining tenden-
ny seems likely to continue, owing to !
quiet trade and restraints upon spec
1lation. But had railroad rates been
increased a movement in the other di-
-ection might have been expected, for
we would certainly have had a tenn |