East Oregonian : E.O. (Pendleton, OR) 1888-current, 1921-09-10
WHAT A GREAT MERCHANT THINKS OF THE FORDNEY
BILL

response to INQUIRIES from Chambers of Commerce and
business men, John Shedd president of Marshall Field
Co.. has this to say the Fordney tariff bill monstros:
TT vital congress be made to understand that law
that prohibits buying products of foreign manufacturer will
make it impossible Europe purchase surplus farm
products materials ETC. Europe can only pay IN Its pro-
ducts; it has not the gold ,
This tariff bill now before the finance commtte of the
United States senate contains many provisions destructive 10
American business and viii impose upon the consumer the bur
den of higher prices Chief among its Objectionable features
is the so-caed American valuation plan
he merchant who must buy his six months to year
or more in advance be compelled make such purchases
with idea of what American expert or
thinks should have been paid goods only placed
an impossible position but actually prohibited from trading
in foreign goods Judgment that TINS particular feature
Of the Forney tariff bill will be so destructive the revival of
American business that forceul protest should be sent 10
n the other hand if poor Judgment framing the
laws on these three great questions (a taxation and trans
pcraton) will doubt stumble through period OF un-
certainty. business stagnation and unrest"
In the Marshall Field Co. house Field Quality
Notes. August 27 there appears two statement setting
forth more fully the position taken by Mr. Shedd particular
attack is made valuation plan the Fordney
under this section American manufacturers can
themselves regulate the duty upon imported goods by increasing
their prices duty be based the whole
sale selling price in the United States similar goods
Here further statements In the house organ refer
The theory that exchange cheapens the product not in
accord with the facts as in our experience during the last SIX
months have paid these countries where deprecated
exists instances 1000 cent higher costs
than those of days In fact as currency deprecates
prices increase accordingly.
Under the most favorable conditions change in
toms arrangement entirely unprecedented he American
valuation pan) the utmost merchants
manufacturers carriers and bankers Under present conditions
cautiously put into effect further and confusion
would added market that has already been frightened
into partial paralysis
1T judgment that the American valuation plan the
Fordney tariff bill will be destructive to business that every
merchant should induce his local newspaper print protests
against its passage and that merchants individually and coec
lively should send written protests to their representa-
tives in congress-
As instance of how the proposed tariff would work
the house organ table of wholesale prices under present
tariff rates and similar under the Fordney BILL One sin
gle item will show the Womens gloves imported from
France and selling S2250 per dozen wholesale would have
duty 1880 Dozen thus making the wholesale price
der the Fordny bill S39 dozen In other words ladies gloves
would be virtually doubled in price time when the country
camong for lower prices because of reduced earning power
The views of house like Marshall Field Co. particu
ary interesting because what they say inspired by business
considerations and not politics.