New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-16
The Tariff Rampant
Will 1t Check the Onrush Of Hugo
SHINES ct Al2-Rates Moderate

To the Editor Of The Tribune.
Sir: In all the criticism which we
hear and read Of the new tariff bill
much is said about favored indus
tries exploiting the public; and the
claim Is made that the elimina-
tion of foreign competition will adj
vance prices to the consumer. Also
we are told that only by giving the
Importer an opportunity to bring in
goods made abroad (thereby reducing
the amount made in the United States
and throwing out of employment the
people who are working in our indus
tries) can we enable them to pay what
is owing to US and continue to import
our products.
There is evidence, however, which
will show the impartial observer that
in the midst of the complicated con-
ditions now existing abroad combina-
lions with great potential wealth have
been formed to take advantage of
those very conditions and capitalize
them FOR the purpose of dominating
world trade.
Germany Is cited particularly as suf-
fering from the heaviest of burdens,
yet we are told that the German CAPT.
talist Hugo SHINES has made huge
fortune during the war and now con-
trolls industries with capital of eight
billion marks; that he is building a
great feet to carry German products
and world trade, with the idea of
domination of world business. 1t
would hardly be safe to consider him
as anything but what he is-a hard
headed business man of marvellous
grasp and wonderful ability. Hearings
before the Ways and Means Commit
tee show that German exporters have
been selling to us not at the lowest
possible price to get trade, but at
price which is making great profits
for them,
The truth of the matter is that the
depreciation of foreign currency in the
countries which are competing with
our industries is enabling them to ex-
port and pay our duties under the
present Inadequate tariff with a big
profit to themselves and the importer;
and the real danger in the proposed
tariff bill is that the rates will be in
sufficient to enable domestic manufac-
turers to keep any substantial part of
the business they developed during the
war.
1t is quite evident that the manu-
facturers in these countries are pre-
pairing to flood the markets of the
world with their goods and that the
huge combinations Eve would call
them trusts and try to legislate them
out of existence) are for the purpose
OF gaining by an economic war what
they failed to get by force of arms.
To that end they are prepared to ex-
plot their underpaid labor to the ut
most, and their labor appears to be
perfectly willing to be so exploited.
Their answer to higher duty will be
as heretofore-a reduction of price; so
the proponents of tariff for revenue
should be satisfied with the outlook.
The only feature of the proposed
bill which can possibly give the foreign
and our altruistic i'm
porters occasion for alarm is that pro- |
viding for the assessment of duties
on American valuation. Reduced to
simple terms, that means that instead |
of compelling our customs appraisers
to fix duties on declared foreign values, |
less than actual costs, but
difficult to determine accurately, duties
would be assessed on American values
easily determined. It is this part Of |
the proposed bill, which is drawing the |
fire Of the importers and against which |
all of their efforts are being concen-
trated. IL
No tariff bill passed heretofore with