The Twin Falls times. [volume] (Twin Falls, Idaho) 1905-1916, 1913-12-02
is THE NEW TARIFF HURTING
BUSINESS?

BUSINESS!
With many of the main currents of
business running below flood-level
and showing signs of continued recess
sion, one might expect chorus of
voices arraigning the new tariff as the
culprlt. Yet a canvass of the leading
trade and industrial organs by The
Literary Digest reveals surprizing
absence of any such accusing chorus.
Instead, we find not only a prevailing
note of optimism as to the future, but
tendency to look elsewhere than to
the tariff schedules for an eXplana-
ton of any present slackening of bus
mess activities. Thus it is pointed out
that the hesitation which causes con-
Germ in this country is evident also in
Germany, Canada, India, and Brazil
and is accounted for blythe experts as
the result OF an overstrained condition
OF the worlds money markets. Des-
pite the partial demolition of the tar
iff wall, reports one financial editor
thus far there has been no invasion
OF the American market in any line. "
Commercial failures in the United
States during October of this year, it
is true, were more numerous than in
October of any other year since 1895,
but no less an authority than the edi-
tor of Dun's Review New York; con-
fesses himself unable to discover any
connection between the Increase in
failures and the tariff. Even the de-
preston in so basic an industry as the
manufacture of iron and steel seems
to be causing little immediate worry
to students of our economic conditions,
who point out that the trade is still a
long way from the state of prostration
that afflicted it three years ago, and
find reason for it's present slowing
up in the poverty of the railroads. The
Cleveland Iron Trade Review, it is
true, couples the new tariff with the
proposed Currey Bill as contributing
to uncertainty in the iron and steel
trade but in The Iron Age New
York; we find long editorial on the
business shrinkage, in which the tar
III comes in for only a casual refer
ence Says the latter authority:
Those who are engaged in the man
ufacture or sale of iron and steel pro-
ducts do not need to be told that the
volume of business is steadily declin-
ing, that prices are crumblina, and
that working forces are being dimin-
ished. With the possibility of
unsatisfactory currency legislation,
the expectation of drastic antitrust
legislation this winter and the con-
tinued indisposition of capital to make
new investments, it would appear that
little hope is to be entertained of much
improvement in business in the winter
months. On the other hand, if inter-
vcntion in Mexico should be decided
upon, this might have slightly stimu-
latlng effect on some branches of ac-
tivity. The war with Spain was one
of the causes contributing to revival
of prosperity in 1898. While war is
TO be deplored, nevertheless it causes
large expenditures for all kinds of
supplies, and the effect of such ex-
penditures by the government is slim
ulating to general trade. Again, if the
eastern railroads should be success
full in securing from the interstate
commerce commission permission to
advance their freight rates, this would
be strong factor in bringing about
purchases of needed equipment and
supplies by numerous railroad COM
panies.
1T is difficult to conveive how a de-
preston can be prolonged under the
conditions prevailing now Stocks in
consumers hands are undoubtedly low
as the result of conservative buying
for the whole period during which the
tariff was being revised. There has
been no transportation either in
stocks or in real estate for long
time New construction has by no
means been so active this year as in
times when money was abundant and
capitalists were free in either making
of their own or furnishing
the means to others. The country has
been accommodating for a long time,
and there must be a great deal of idle