iv [July 2, 1915. Gentlemen Protective Tariff League. 339 Broadway аты will say Lea que "In ancer to "Why do you suppent the Amer Protective Jauff say the Jum of A. Z. Bay be gone have been a of the League for year, and have contributed each year it duce, as we m fully believe that the League has the right idee on then Tariff, and that is the only way to successfully, mut the тих have an accociation that w reeve, we to мен, alwaday extableched and ready to meet any reas may come if in Jaiff machin that that we be able to speak In its member at JUL 12 1915 CAMBRIDGE, MASS American Economist DEVOTED TO THE PROTECTION OF AMERICAN LABOR AND INDUSTRIES. NEW YORK, JULY 9, 1915. MEMBERSHIPS IN THE AMERICAN PROTECTIVE THE FOLLOWING PLEDGE: THE UNDERSIGNED HEREBY DE- Farbwerke-Hoechst Co. Coal, Iron Ore and Pig Iron FORMERLY H. A. METZ & CO. Aniline and Alizarine Colors, Dyestuffs and Chemicals Sole Licensees and Importers of the Products of FARBWERKE, vormals MEISTER LUCIUS BRUENING Hoechst-on-Main, Germany 122 Hudson Street, New York, N. Y. 140 Oliver Street, Boston, Mass. 104 Chestnut Street, Philadelphia, Pa. 23 So. Main Street, Providence, R. I. 317 No. Clark Street, Chicago, IlI. 210 So. Tyron Street, Charlotte, N. C. 1418 Empire Building, Atlanta, Ga. 20-22 Natoma Street, San Francisco, Cal. 45 Alexander Street, Montreal, Canada 28 Wellington Street, Toronto, Canada To American Producers: Please report to us any article or articles of use in agriculture, mining or manufacture in the United States for the supply of which we are dependent upon any foreign country. Give details. THE AMERIC IN PROTECTIVE TARIFF LEAGUE 339 Broadway, New York CLEVELAND, OHIO $2.00 A YEAR. HARVARD UNIVERSITY LECTURES ON By Dr. Robert Ellis Thompson. These lectures were delivered in Harvard University by appointment of the Corporation and Overseers, that the students might hear what was to be said for the policy not favored by the Professors of Political Economy of that institution. They state the case for Protection in a clear and scientific way, so as to conciliate the prejudices of those who know the Protectionist theory only through the misrepresentation of its enemies. Only a few copies of original edition can be had. One Dollar a copy postpaid. American Protective Tariff League 339 Broadway, New York, N. Y. THE LINEN THREAD FLAX THREADS and YARNS Encourage Home Industry, Especially when you find it to your business interests to do so. We make all grades of fine Tissue Paper, such as Grass Bleached Silver Tissue. Copying Papers in endless variety. DIAMOND MILLS PAPER CO. 44 Murray Street, New York The American Protective 339 Broadway, New York, will furnish gratuitously information and facts on any phase of the Tariff question, on postal card request. "TO FARMERS: What Has the Underwood Free-Trade Document No. 24 just issued by the American Protective Tariff League advances no argument, but simply gives the facts regarding the rates of duty on agricultural products under the PayneAldrich Law of 1909, and the Underwood Law of 1913. It ought to be in the hands of every voter. Ten copies sent to any address for Ten Cents postpaid. Address W. F. WAKEMAN, Secretary. 339 Broadway, New York. YOUR POSITION is a very clear one; your aim is directly opposed to monopoly, and your policy one which, to my mind, is extremely beneficent, not only to business, but the whole people. -Louis D. Brandeis PACKARD MOTOR CAR COMPANY Lincoln Highway Contributor Ask the man who owns one TARIFF LITERATURE We give below the complete list of the DEFENDER Documents published by THE AMERICAN PROTECTIVE TARIFF LEAGUE, with number of pages and prices. The whole list will be sent to any address for one dollar. Order by number only. 10 25 Copies Copies .30 .60 3-"Home Production." First Prize Essay, 188. C. D. TODD, 24 pp...$0.13 $0.25 4-"Protection Which Protects." Speech by Hon. WELDON B. HEYBURN, U.S.S., of Idaho, 32 pp.... 7-"The Protective Tariff; Its Advantages to the South." Speech of Hon. J. C. PRITCHARD, U.S.S., of North Carolina, 16 pp..... 10-"Farmers and the Tariff." THOMAS H. DUDLEY. 16 pp..... 11-"Abraham Lincoln on the Tariff -Extracts from Lincoln's Speeches and Writings on the Tariff." dress by Hon. W. F. WAKEMAN, at Liberty, N.Y. 16 pp...... 13-"Workingmen and the Tariff." 16 pp...... .10 .20 .10 .20 Ad .10 .20 .10 .20 17-"Protection for American Shipping." 8 pp..... tectionists." 19 "Why Irishmen Should Be Pro8 pp.... 20-"Protection." E. H. AMMI DOWN. 8 pp.... 21-"What Is a Tariff?" 4 pp.. 24 To Farmers: What Has the Underwood Free-Trade Tariff Done to You?" 8 pp......... 25 "Shall We Preserve Our Herds and Flocks?" Speech of Hon. FRANCIS E. WARREN, U.S.S., of Wyoming. 16 pp.... 28 "The Southerner's National View of Protection." ENOCH ENSLEY. 12 pp.... 29-"Tariff Legislation from the Early Days of the Government." By a Southern Protectionist. 12 pp. .10 30-"The Dingley Tariff." 48 pp.. .60 1.20 .20 66-Blight of Free-Trade-Blessings of Protection." Edited by Hon. ROBERT W. TAYLOR, M.C., of Ohio. 8 pp..... 67-New England Against Free Wool." Speech of NELSON W. ALDRICH, U.S.S. 16 pp.. 68-The Tariff." Speech of Hon. MARRIOTT BROSIUS, M.C. 16 pp. 74 An Appeal in Behalf of Tariff Stability. Address and Resolution Adopted at the Twentieth Annual Meeting of American Protective Tariff League. 4 pp.... 76-That Terrible Eclipse." An Exposition of Finance and Industry Under Three Administrations and Three Tariffs During the Decade of 1890-1900. By FRANCIS CURTIS. 16 pp... 77-"A Democrat Who Flopped. Why Did He Flop?" Speech of Hon. JOSEPH CROCKER SIBLEY, at Bradford, Pa., September 17, 1900. 8 pp...... 78-Protection is Panic Proof. Speech by Hon. J. H. GALLINGER, U.S.S., of New Hampshire. 16 pp..... 79-"Prosperity Under Protection." Speech by Hon. P. P. CAMPBELL, M.C., of Kansas. 16 pp..... 80-"Impossible Reciprocity." Views of CHARLES A. MOORE on FreeTrade with Canada in Natural Products. 4 pp...... 82-German Tariff Agreement. Text of the Trade Arrangement Between the United States and Germany, taking effect July 1, 1907. 32 pp.. 84-"Home Market. The Tariff in Its Relation to the Farmer, the Manufacturer, the Wage Earner and to All Classes and Conditions of Men. Speech of Hon. JOHN F. LACEY, M.C., of Iowa, March 6, 1906. 16 pp... 85-"Producers and Consumers." Speech by Hon. LESLIE M. SHAW, Secretary of the Treasury, at St. Louis, 8 pp...... 86-Shall There Be a Duty on Hides?" Live Stock Statistics. Speech of Hon. FRANCIS E. WARREN, of Wyoming. 16 pp.. .10 87-Tariff Reduction Always Brings Hard Times." Extracts from a Speech of Hon. JAMES T. McCLEARY, of Minnesota. 8 pp.... 88 "The Roosevelt Idea of Tariff Revision." Extract from speech of Hon. JAMES T. MCCLEARY, of Minnesota. 8 pp.... 89-"Reciprocity-What It Is and What It Is Not." Extract from speech of Hon. JAMES T. McCLEARY, of Minnesota. 8 pp... 90 "Trusts and the Tariffs. tracts from speech of Hon. JAMES T. MCCLEARY, of Minnesota. 8 pp. 91-"Condemns the German AgreeResolutions of the Ameriment." can Protective Tariff League remonstrating against the Agreement as illegal, unfair and contrary to the policy of Protection. 4 pp... .05 93-"The Vital Issue Before the American People." Speech by Hon. JOSEPH W. FORDNEY, of Michigan. 32 pp. 32-"Blaine's Reply to Gladstone" and "Free Trade or Protection." Speech of Hon. CHESTER I. LONG, M.C., of Kansas. 16 pp. .10 34 "Blaine's Reply to Gladstone," in German. 24 pp..... 36 "Taking Liberties with Prosperity," Address by T. Z. COWLES, Morristown, N. J. 16 pp. 37-"The Tariff and Cuban Reciprocity." Speech by Hon. WILLIAM ALDEN SMITH, of Michigan. 16 pp...... 38-"Cuban Reciprocity," by a Member of Congress. 16 pp...... 39-"American Tariffs and American Sheep.' Speech of Hon. CHARLES H. GROSVENOR, of Ohio. 16 pp. .10 46 "Let the Tariff Alone." Speeches by PRESIDENT ROOSEVELT, at Minneapolis: SECRETARY SHAW, at Peoria; SECRETARY ROOT, at Boston, etc. 16 pp... 43-"Reciprocity and Tariff." late THOMAS B. REED and Hon. LIONEL R. SHELDON, on the Economic and Legal Aspects of Reciprocity by Treaty. 32 pp.... 44-American Merchant Marine Discrimination Duties." Hon. STEPHEN U.S.S., of West Virginia. 32 pp.. 45-"Why First Voters Should Be Protectionists" and "Protection Our Proper Permanent Policy." Speeches of Hon. JAMES T. McCLEARY, of Minnesota. 64 pp.. 49-"Economic Aspect of Reciprocity." Two Lectures by JOHN P. YOUNG. 16 pp..... 50-Tariff Revision-Shall the Dingley Law Be Tampered With ?" Expressions of Views by U. S. Senators and Congressmen. 12 pp.... 52-"American Tariffs from Plymouth Rock to McKinley and Dingley." "Prosperity is the Issue, Protection Is Panic Proof." Speeches by Hon. J. H. GALLINGER, U.S.S., of New Hampshire. 128 pp..... .10 SCREEN PLATES. WRITE TODAY FOR CATALOGUES. EASTWOOD WIRE MFG. CO. Belleville, New Jersey 95 The Tax on Corporations." By BRONZE AND COPPER 2.00 4.50 59 "The Tariff." Extracts from the speeches of Hon. WM. J. BRYAN and Hon. WM. McKINLEY, and arranged in parallel colums. 16 pp. .10 61-"Pottery." By U. S. Consul .20 BURGESS. 16 pp... .10 .20 63-"Farmers' Egg Basket." 4 pp.. 64-"The Tariff." Speech of Hon. THOMAS B. REED, of Maine, Feb. 1, 1894. 16 pp.... .05 .10 .10 .20 65 "Shall the Republic Do Its Own Work?" Speech of Senator JOHN P. JONES, of Nevada. 80 pp.... .60. 94-"Not a Menace of Our ForestsInsignificant Portion of American Timber Growth Used in the Production of Wood Pulp and Paper." 8 pp.... CAMBRIDGE, MASS American Economist DEVOTED TO THE PROTECTION OF AMERICAN LABOR AND INDUSTRIES. VOLUME LVI-No. 2. NEW YORK, JULY 9, 1915. $2.00 YEAR. { SINCLA CORA, 5 CENTS. The American Protective Tariff League College Prize Essay Contest, 1915. TREMENDOUS DISPLACEMENT OF WAGES. Ships That Carry Away War Supplies Return Laden with Competitive Goods. Correspondence AMERICAN ECONOMIST. WASHINGTON, D. C., July 8.-Imports of more than $18,500,000 in the first five business days of one week at the port of New ork demonstrate clearly that the Underwood Tariff is still effecting a tremendous displacement of profits and wages to American industry. The vessels of the world, excepting those of Germany and Austria, are still steaming up the Narrows in New York with cargoes from many ports, and they make a huge custom house record of imports. The first five business days of one week which has been under consideration scored a total value of imports of more than $18,500,000. With more ships inwardbound, than outward bound, the imports submerged American exports, which, at $16,763,000 for the whole week of six days, are nearly $1,800,000 less than the imports of five days, and were down from New York's exports of the week before by more than $13,000,000. What the Ships Bring Back. While much is being made of the export trade, it is apparently forgotten that every ship which carries ammunition to the Allies returns to the United States laden with textiles and other goods which displace American labor and profits. Information from consular reports and other sources show that many Americans are now finding it profitable to invest capital in foreign countries with a view to marketing their products in the United States. Recently there have been established in Canada agencies for the purchasing and shipping of cattle to the United States. Agricultural implements placed on the free list by the Free-Traders in an attempt to fool the farmer are being manufactured in Canada with American capital, but with Canadian labor, and are then shipped across the border. The farmer is not getting his farm machinery any cheaper. The American people are not getting their food any cheaper. American meat packers in Argentina are finding good pickings in our market, now that meat is on the free list. Two Fake Prophecies. In an address to a Maine audience in the fall of 1913, Champ Clark, Speaker of the House said: We believe that our Tariff bill will reduce the cost of living, more fairly adjust Tariff taxation and at the same time raise abundant revenue for the Government. This was a typical Democratic statement following the campaign pledge of 1912 that the cost of living would be reduced as an accompaniment to the reduction of the Tariff. Protectionists might cite examples of their own to show how miserably this promise has failed of realization, but it is far better to permit the Democratic administration to explain the situation for itself. Secretary Wilson, of the Department of Commerce, says that the cost of living reached its highest point in September, 1914, "when the price of all food was 7.1 per cent, higher than the average price for 1913." He also says that the price of all food combined was 2 per cent. higher for 1914 than for 1913. The latter is probably the fairer statement, since it takes not the high point of 1914, but the average price of all food for 1914, and compares it with the average price in 1913. So much for the cost of living. Underwood Law a Deficit Producer Now as to the Underwood Free-Trade Tariff as a revenue producer: The Government's fiscal year has just ended. The Treasury statement issued at the end of the fiscal year shows an excess of expenditures over revenues of $108,164,962.52. The maximum estimate of returns under the income and corporation taxes is $80,000,000. A large amount of this has already been figured into the revenue of the fiscal year; so it is clear that there will be a deficit, even after the collection of all taxes, amounting to $40,000,000 or $50,000,000. The war tax levied by the Free-Trade administration was designed to make up any losses resulting from the European war; so it is a fair deduction that the present deficit is due solely to the loss of revenue from the present Tariff. Burden Falls on American Workingmen. That this should have been expected is shown by the fact that 63 per cent. of all imports are coming in free of duty. There need be no argument to show that it is impossible for American industry, paying the high scale of wages that prevails in this country, to compete with Europe, which pays wages much lower, frequently two-thirds lower. But if there is any doubt as to where the heavy burden of the Underwood Free-Trade Tariff has been falling, this doubt has been removed by the statements of Secretary Wilson showing that 400,000 men are out of work in New York City alone. That the burden falls ultimately upon the American workingman is disclosed by the recent investigation of the National Civic Federation, which resulted in the disclosure that labor gets two-thirds of the added value created by manufacture, while capital gets one-third. Labor's Share. The Federation's interest was aroused by the statement, so often quoted, that labor gets one-fifth the value of manufactured products, and capital four-fifths. Census figures of 1910 frequently are cited to prove this assertion. The Federation, in a report just issued, shows that the error arises from considering the gross value and not the net. The report says: The trap into which so many who undertake to reason from the census have fallen lies in the hasty assumption that the "gross product" of manufacturing industries is the measure of the wealth produced. taxes, From the $2,420, the average value of each worker's annual output, must be deducted $1,395 for materials, leaving $1,025 to represent the added value given raw materials in manufacturing. Out of this capital must meet advertising, rents, royalties, insurance and the like. When these are deducted there remains $889 to be devided between owner and employe. Labor gets $590, or 66.4 per cent. of this, while capital gets $299, or 33.6 per cent. This takes no account of depreciation. With allowance for depreciation capital is seen to have, for interest and profits, three-tenths of labor's share. Even this analysis does not take into consideration the fact that a large amount of the price paid for raw materials also goes to labor. Senator Aldrich once stated that the cost of labor and the cost of production were synonymous terms. This is shown conclusively by the investigation of the National Civic Federation. Just as a concrete example of the way American labor is being displaced, it might be stated that the imports of wool and the manufactures of wool for the first four months of 1915 and for the preceding six months of 1914 show considerable increase. Class 1 wools have increased 53,774,417 pounds, and class 2 wools, including mohair, etc., 1,987,357 pounds, notwithstanding the war embargoes. The imports of class 3 wools have fallen off 27,787,715 pounds, but the totals show a net increase in imports of wool during the present war period of 30,976,059 pounds. THOMAS F. LOGAN. High Cost of Sugar. Sugar has been selling at a higher cost to the American people since the twentyfive cent reduction in Tariff was placed on the raw material than it was with a Protective Tariff. Notwithstanding the fact that war is going on in the sugar producing countries of Europe in the past nine months one-half billion pounds have been imported. At the same time the revenue to the Government has decreased nearly twenty millions. With a further reduction of the Tariff on sugar the American grower cannot compete with the former growers, and millions of American capital will become idle, the people will pay more for sugar and the Government will be fifty millions out without gaining in any way. The people will pay double price for sugar. Higher price for the sugar and an average of fifty cents for every man, woman and child in the United States per year in making up the revenue Ceficiency.-Bartlesville (Okla.) Inde pendent. The Tariff rates in Protection America were cut all to pieces by the UnderwoodWoodrow Wilson bill, and then Canada increased its rates nearly 10 per cent. Its exports to the United States have increased by leaps and bounds, and our exports to Canada have decreased in proportion.—Mt. Vernon (Ind) Republican. |