The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1922-11-01
Tariff Halted
Big Price Drop
Report Show
Commission Makes Public
Formal Statement Showing
How Farmers Are
Benefited.

Washington. oct 9l.--rhe anor.
gency tariff law. according to a formal
statement dn ~ general effects made
public last nlght by he tariff com
mission tended ITO prevent 50 great q
fan IN prices as might otherwise
have come rather than increase the
value 81 The 30 commodities covered.
While myiug that the fleet OH all ~
the commodities VAS difficult 10 de.
tcrminc, Tho commission reports tina.
definite results" tracenble 10 the law
now superseded by tho permanent
tariff net, were found az the duties
applied 10 wool. wheat and sugar.
"Thc lAw seems 10 have assisted In
relieving that acute depression" IN
tho wool growing industry. according
70 the statement. whicn adds that
It's effect there WAS largely IN rcmoy.
ing strained credit situation and
in eauqlnr millers to uso domestic
rather tSn imported stoekf West.
ern bankers, the statement add, felt
better occurred With wool paper when
foreign woods were virtually embargo.
cd
Benefit 10 Valley.
"1he duty ~ 81 cents hu hel on
whenp says the statement "feems
70 have affected only the trada IN
northern spring wheat produced IN
the upper Mississippi and Missouri
valleys IN competition with Canadian
wheat of the saino variety Large
quantities Of other varieties of wheat
arc exported from this country, there.
fore an import duty has little effect
upon their prices. There usually n
y deficiency Of the domestic hard
spring wheat for blending purposes,
however, ind 10 the extent that The
emergency law rcPembled somewhat
tho Canadian imports OF This variety
VI wheat, the duties had some effect
on prices. England did not purchase
the normal portion Of Canadian wheat
in lJ2l22 with tho result that many
Canadian producers were forced TO
market their crop In this country
over the traiff wall. How much
lower the American prices would
have been had Ganadion wheat been
admitted free Of duty Is uncertain.
THE outstanding feature of the
sugar trade III the summer Of 1871
was the surplus Of raws in Cuba. This
amounted TO nearly 100000 tons as
compared with normal stocks Of about
100000 tons. The surplus, equal TO
almost half the annual American con.
had q serious effect on
prices. a drop Of cents per pound
for Cuban raws ex-duty IN March,
1921, to IS cents per pound In De-
ccmber, dernoralized the whole sugar
trade and led to strong pressure for
an increase in sugar duties.
For the most part, the effects Of
The duties on other commodities were
uncertain The trade in corn, for OK
ample, showed no change traceable To
the duties. Imports were negligible,
for many months before and after the
emergency law. The report points out
that since only few million bushels
arc annually imported, such imports
may be expected TO have little effect
upon The prices ~ the total American
corn crop Of 5000. 0Oo.00o bushels
The effect Of the duties on cattle,
beef and veal are not certain. There
is some indication that Chicago prices
Of cattle declined less rapidly than
did the Toronto prices OF practically
the same grades after the enactment
OF the law
THE 7 cents per pound duty on
long staple cotton had no effect on the
bulk Of the, cotton crop Of this coun.
try, but IL steadied the market for
the small output Of long staple or
Egyptian type cotton produced in the
irrigated regions Of the southwest"