Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-09-22
Opinions and Views
from the Exchanges

Probable Effects of the New Tariff.
From the N. Y. Journal of Commerce
Importers and expert students OF
the tariff situation who have been
looking over the conditions now ex-
isting with reference to the probable
effect of a new tariff act, which is
expected to go into operation within
a week, are of the opinion that the
influence of the new measure has
been greatly oyerestimated. They
confidently predict that the operation
of the act during the year or SO to
come will produce but little effect
upon the actual conditions as estab-
lished hitherto This opinion seems
to be borne out by some capable for
eign experts and business men, who
have lately been in this city for the
purpose of ''sizing up" conditions and
making up their minds as to the
probabilities to be looked for in the
near future.
Quantities of goods held in bond
at present are good deal smaller
than is currently reported, many of
them having already been released
and duties paid within the recent
past. One reason for this release is
the fact that under the changed pro-
visions as to sugar now found in
the tariff bill the reason for holding
raw sugar in warelkouse has passed.
Another is that the postponement of
the date of passing the tariff has de-
layed the opening of the fall trade,
and in the judgment of some capable
observers has in part destroyed or
seriously injured the trade in certain
lines that would have been developed
had action been obtained at an earlier
date. At this writing it is estimated,
on the basis of the official returns,
that not over $30,000,00 of goods in
excess of the amount held at this
time last year are in the bonded
warehouses. A year ago the amount
of goods in warehouse at New York,
as of August l. was 5000, 600 while
this year it was reported as $6S,000,-
900, difference of $22,000,000. OF this
comparatively small sum, amounting,
as 1t does, to but few per cent. of |
the total years importations at this |
port, considerable proportion is wool |
and the lower products of WOOL De- |
Quoting these articles the balance is
of comparatively unimportant amount |
and will not seriously affect the stu
attion, so it is now stated, in most |
domestic lines. This, it is believed, |
leaves domestic producers practically |
as much with the field to themselves |
as if the tariff had not been |
thought of.
The opinion of the foreigners who |
have been looking over the ground |
and to whom reference was made |
above is that even in the long run |
the influence of the new tariff will |
be good deal less than it has been |
expected to be in numerous quarters. |
An English manufacturer, who has |
been examining American milling |
conditions in the textile trades and |
who has just gone back to London,
says that, in his opinion, American |
manufacturers will so promptly ad- |
just themselves to the conditions of |
the new tariff that any excessive out |
lay on the part of English producers |
designed to lay a foundation for the |
exploitation of the American market |
would be unwarranted, since it would |
probably result in loss to the foreign |
ers If they were driven back into |
their own markets in the course of |
competition with domestic producers. |
This particular man does not believe |
the foreign textile manufacturers, ex-
cept in a few special lines, can stand |
the excess costs of sending goods to |
the United States, bearing the ex- |
pense of advertising and yet beat the |
home producers everywhere at their |
own game. He thinks that they |
might have done something by send |
ing large quantities of goods to this |
country ready to take advantage of
the new conditions as soon as the act
went into effect, but as they have not
done so the opportunity has largely
gone by and American producers are
already adapting themselves with
great ability to the changed outlook. |
The reason why foreign producers
have not seized the tariff opportunity |
opened to them is given by him as
the great losses of capital in Europe |
due to the Balkan war and other fac !
tors of a similar kind which have |
made capitalists loath to do anything |
that might subject them to unusual |
hazards.