Red Lodge daily news combined with Carbon County news., 1932-04-07
TELEPHONE NUMBER NINE


49, &v
Free traders are never bound by such mundane things
as figures orfacts. Their reasoning is usually in the theor-
etical clouds of fancy, and never was it more so than at
present.
For example, we have had a great deal of talk of late
to the effect that the present tariff is the highest in our
history, yet the facts prove that assertions of this kind
are unadulterated bunk.
In 1910, under the Payne Aldrich tariff law, we collect
ed 2l1l per cent of the valuation of all our imports in
custom duties.
In 1890, six months after the Fordney law and six mon
tbs under the Hawley or present tariff law, we collected
1883 per cent of the valuation of all imports in custom
duties. This years collections are running between IA and
Is per cent.
In 1910, we collected in customs 4O.10 per cent of the
valuation of dutiable imports; in 1890, 4472 per cent.
The increase was a little over 10 per cent. But the gap
between European and American wages, which this pro-
lection is supposed to cover, had increased about 100 per
cent during the period 1910-1930. By what reasoning is it
argued that we have a far more rather than a far less
protective tariff than in 1910, for instance.
However, the rates collected only on imports bearing
duties, by no means measures the excess, or lack, of COM
parative protective value Of the present law. Many i'm
portant commodities of a competitive nature are now on
the free list. Oil, coal, copper and paper may be cited.
They are coming into our ports in vast quantities to the dis
placement of American products and employment. Wei
are buying abroad yearly $150000,000 worth of news print
paper, a commodity also produced in the United Staes.
va AiOhi ROfiCG 1tuSold lbs utHlOIdlLLtu Tie market Tor
American coal in New England Copper, on the free list
and reduced to the price level made possible by emplovingI
natives III Africa at Zoe a day, is a completely Frustrated
industry. Imported oil and oil products have ruined our
independent oil industry for the benifit of the big inter-
natlonallzed oil companies. And so on. Free traders can
not falfly ignore the fact that under the present tariff law,
b683 per cent of our imports, including MANY that are
competitive, come in duty free, as against onlv 1921 per
cent IN the Payne-Aldrich law. Taking this into account.
we find that IN 1910 we were collecting in percentage of
tariff duties to valuations, 80 per cent more than we are
now, altho during that period American labor costs have
doubled, while European labor costs have remained sta
tionary, or have fallen, making a much higher rather than
lower, tariff necessary if there is to be any honest pre-
tense of fulfilling in Legislation either the Democratic or
Republican position on the tariff, as proclaimed in both
the Houston and Kansas City platforms.
Here is something more to think about. Between 19O4
and l9l2-elght years-under the Payne-Aldrich law
we increased our national wealth 70 per cent, a rate of
growth vastly greater than in any other period in our hist
DRY. between l~9l2-l922, ten years, according to the FEDERAL
Trade Commission; our increase in wealth under a low
taIlH and with the biggest exports in our history, due fol
the war, was only 10 per cent, in dollars of equal purchas- '
ing power that is with the 1922 dollar decreased, on the
basis of value, to the 1912 dollar.
Our population increased during the same period Is
per cent. That is to say that in ten years we made pract-
no growth in per capita wealth.
here are some of the facts of direct application. Tn 1910
under the P~ayne-Aldrich law, we were importing $l652
worth OF foreign goods per capita. In 1929 we imported
soo4z per capita; in 1880, with prices much reduced, we
imported S2rO8 per capita. The figure for 1880 shows an /;
Increase IN consumption of foreign goods per capita of .
neariy rWo-thlrds over 1910. Now, do not forget that these :
hgures show foreign, and not American, valuation, and q
Aal prices at the foreign factory door are further reduced n