ses.
Coffee. Lumber.
Beef. Turpentine.
Linseed.
Beef hams.
Rice.
Sugar.
Rubber.
Cornstarch.
Wool.
Eggs.
Potatoes.
Onions.
Squash--Marrow.
Apples--Gravenstein.
Mutton.
Veal.
From these tables it is obvious that there has been, in the first
place, no general rise of prices such as was confidently predicted by
the panic-mongers of last year. On the contrary, the large majority of
prices show a downward tendency. But more important than this is the
fact made obvious by these tables that the price of the protected
product has not risen. The foreign goods have advanced in some
instances and been shut out in consequence, but domestic goods have
taken their places, the price being kept down by domestic competition.
In a word these tables prove that except for the enormous reduction in
the cost of sugar, the new tariff has had but slight effect if any on
the course of prices of the necessaries of life, and that the
statements of the free traders as to a general rise of prices was
entirely false.
The following extract is from a letter from one of the largest
wholesale clothing firms in Boston. It tells its own story:--
"In reply to yours of the 10th inst., would say that we sold
clothing in every grade in August, 1891, at fully 10 per cent.
less in prices than in August, 1886; for instance, a cassimere
suit sold then for $12.00 which we sell now for $10.50, and one
sold for $13.50 and we sell the same now for $12.00. An overcoat
sold then for $11.50 which we sell now for $10.00. Another grade
sold then for $16.50 and sells for $15.00 now. This difference
will run through all grades in proportion to prices. The
difference in prices between August, 1890, and '91, is very
little, if any; less rather than more in '91."
As to the development of manufacturing under the McKinley bill I will
quote first the opinion of a disinterested witness. The British
Consular General at New York, in his report of May 8, 1891, speaks as
follows:--
"Influenced by the new and higher duties afforded for the benefit
of American manufacturing interests, new life
|