Every evening, Wilmington daily commercial., 1921-01-27
THURSDAY, JANUARY y, 1921.
Dangers Of the Fordney Bin

Dangers OF the Fordney BIN.
Tho urinary reason for tarin on
,,nuorts was to protect our infant IN
a,,strles. The Fordney tariff DILL Whlch
has passed the House, and which -
n,for-e the Senate now. seems TO nave
univ, one idea behind ito enricn Ger
tain interests which so valianuy sup
,,or,ad the Republican Party In the last
national election.
On the face Of it this proposed Din
"a for the purpose Of meeting present
.rneryeucies" and to judge bS 'he
,,a,ner in which certain great trusts /
~-,u he shielded, the emergency con
aiste OF helping out of the hh'afcA'ei
80 .,a vvoole,1. leather. and other com |
n,ner which suffered greatly from me |
wtrike against buying which the AL'i"''-
can public recently declared
This F'ordney bill, ss IL now stAhoS'
,.tll atve an excuse for the imrneoiA1s
raising IN price of clothing. shoe@' meat
,rIear cheese. butter. and Dreau-
,,thar words. all Of the necessities o. NE
h,uh duty on diamonds. on furs. Or
works Of art can be understood Ah'se
,,,x,r,os. B,,t "A tremendous tax on
me every day necessities can oe e&-
oiained on only one ground, ana INST
,ha ono of helping certain interests 70
reaD richly because OF their loyal sup
mort TO the party now In power Ha
Congress.
Two examples are sufficient TO show
4, vxhat manner the F'ordney bill WAL
,Derata Tho wooden trust to-day has
"A hand enormous supplies oI WOOL u
,hc raw and the manufactured state'
tac,ause the public refused 70 continue
~ orgy Of buying, orders became fewer
and fewer. until certain great concerns
INC American Woolen Company being
one. had TO decrease production inc
stock OF this concern. and others alSo'
fell in value, and dividends were pAss''o
b. some.
rhe 1913 tariff bin protected wool on
sn ad valorem basis. The Fordney Dir
+, a5aition to this ad valoreIn duty.
,,o,,ld nut a tax OF Is cents pound on
.,,.,,-.sI,sd wool, 80. cents a pound on
wished wool. and IS cents q Douno on
wool which has been secured. II tnss
f,ordney bill is passd, IL means that not
only viii the woolen interests be pro
tected." but also that every pound o.
wool IN warehouses today VIII auto
raaHcaIry jump in value 10. SO' and 20
sants a pound respectively, depending
unon the state In which the product is
in. This means that the passage OF the
MI viii Increase the value OF the cor
marathon stock Of every Wooien CON
cern in America, and Increase It hand
sornelv. Also. sll clothes made IToh
,,,ol in the future VIII automatically
ne raised in price.
The second example Is that OF rhe
l-ather interests The value OF shos7
and therefore the value Of leather treat
~ declined in the past few months be-
cause the American public went on
ru.ke against abe prevailing hlgf
prtces. Shoe stocks have not IN
creased, because the public was max
ing old pairs oo the work of new shoes
Therefore there are millions OF pound'
NJ hides in warehouses which normally
would have -been made into shoes o.
This time The value Of these hides
ur course, has deprecated.
AZ the present tine cattle hides ar
admitted free of duty 10 the Unite
s1reets. But the friends Of the leathe
interests viii remedy this condition
The Fordney tariff bill provides
through en amendment tackled on
II by the Senate Finance COMMITTEES
for an ea valorern duty Of IS per cen
on ali cattle hides. whether salte'
uiclSed. dried, cured or uncured. If IN
Fordney tariff bill is passed. IL mean
that not only viii the leather interest
he .'prctecte6' but also that all leathe
stocks now on hand will automat1cali
increase in value Is per cent. Tn
merely means that the passage OF II
hill viii increase the value Of the COZ
poration stock of every leather conceI
in America, and increase it handsomei
Also, an shoes nSde in the future WI
automatically be raised in price.
II is therefore seen that by shreV
and skillful manipulation. the frame
and the friends Of the Fordney tar
bill are not only providing for the
friends in the future. but that they "a
helping them in the present to lncrea
the market value Of their stocks (
hand. which OF course will result in Il
corporation stocks Of the interests co
cerned rising TO higher prices. WI
tingiy or unwdttingly, the men in Co
i;ress behind the Fordney tariff bill a
aiding the bulls in Wall street and els
where To enrich themselves. while gu
infant" industries as the woolen a
leather trusts arc being protected fro
an invasion Of foreign products.
Within the past year leaders Of t
Republican party made many promis
of reducing the cost Of living, etc.
this bill is passed, it will materially
crease the cost Of existence. Senat
Penrose. than whom there is no me
astute politician in America has a
nounced that the Fordney tariff !
viii be passed, Senator Penrose is
real leader OF the Republican par
Therefore it is seen that the Reput
can party's solicitude is for the int
ests first. ami for the people Of Am
ica af.crwar6