New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-19
EFFECT OF THE TARIFF
The Outlook as Seen by the
Trade.

Several metropolitan newspapers have
been interviewing manufacturers ana
merchants throughout the country In an
effort TO learn what has been the erect
of the new tariff to date, and in few in
stances have they been able TO locate
tangible evidences of restrictive or dis
astrous influence upon business. Even
textile manufacturers have admitted that,
thus far, they have met little competition
with foreign goods. and are hopeful that
they will be able in most instances sue
cessfuly to meet the competition OF i'm
ported goods, says an editorial in the
Textile Manufacturers Journal"
These casual Investigations fail to give
due weight to the fact that the tariff has
gone into effect at a time when nearly all
foreign Industries are busily employed,
and before most foreign manufacturers
have had an opportunity TO investigate in
creased trade opportunities in this mar
ket. Few Of the investigators appear to
be aware that the tariff changes on wool
and It's manufactures do not become ef-
fective until December / and January !.
respectively. But, what is more impor-
tant. they fail TO take any cognzance
whatever OF the large losses In the textile
industry due TO the unsettling influence or
the tariff. and TO the anticipation by do
nestle manufacturers Of lower prices that
will be made upon foreign products. These
losses are not confined to the wool indus
try, although they are most apparent
in 1t.
Every one in the wool trade knows that
domestic wool growers have had to ac-
cept much less for their wool than would
have been the case had the tariff re-
manned unchanged. They are well aware
also that the great majority of domestic
manufacturers have named prices on
their spring lines that will barely cover
cost OF production under the most favor
able circumstances. and that, II their
mills are not operated at practically full
capacity, they must suffer an actual loss.
They could have found that large advance
orders have already been taken on for
eign woollens yarns and tops, and that
agents OF foreign manufacturers are con-
fdent Of doing an enormously increased
business as soon as their customers be-
come better acquainted with foreign quail
tiles and values. They could have found
a similar, although less general. import
business upon fine count cotton yarns and
goods, and upon certain lines Of knit
goods. They could have also found that
importers of textile machinery and mill
supplies are confident OF doing a largely
increased business.
The tariff dixie that has for so long
been found adequate TO hold back foreign
competition at flood periods has not only
been lowered. but has been punched fun
Of holes. Temporarily II is proving fairly
protective to domestic industries simply
because IL is a low-water period abroad.
Just as soon as stocks Of goods commence
to accumulate in foreign storehouses the
flood of imports will rise and will over
flow, or break through. our present in
adequate tariff dixie at many important
points. In the meantime domestic manu-
facturers can do little but set their houses
in order TO meet the food conditions that
must develop in many Of our markets
later on. They are going about this task
manfully In the textile industry. and, al
though endeavorng 10 look upon the
bright side. are not deluding themselves
with false hopes