Democratic Sentinel, Volume 15, Number 15, Rensselaer, Jasper County, 24 April 1891 — IS IT A TIN PANIC? [ARTICLE]

IS IT A TIN PANIC?

The Natubal Results of Tampering With the Cubbents of Trade. [Boston Transcript (Rep.)] The first fruits of the McKinley bill, it will be remembered, were a money stringency early last fall, caused in part by the locki g up of all the money available to merchants in the importation of dry goods, woolens, etc., rushed in to take advantage of the lower rates of duty before the bill should become a law. A similar financial difficulty is threatened now on account of the McKinley duty on tin, which on July Ist doubles the existing duty. Of course, consumers and importers havs been straining every nerve to pile up and carry all that ean be afforded by cash or credit at tho old prices. The British producers a year ago clapped on just as much increase of their price as the McKinle, duty, coldly calculating on the certain and plain necessity of the Americans to stock up in advance of the taking effect of that duty. They have had a rich harvest in supplying us for a long term ahead at fancy prices. But such prosperity brings ts Nemesis in overdoing, and to-day it is announced that the great Welsh producers are to shut down for a month—a bad sign as to the immediate f iture of their market. But a fall in the metal price could do s little good, with our stores already filled to bursting with supplies bought at high prices. So does the wisdom of man monkeying with the great currents of trade produce loss and distress for the masses—while a few able capitalists get richer still—on two sides of the Atlantic. If there be tin enough to supply ourselves in this country and to spare, as is vocifer ously asserted, the time would have come soon enough naturally for its developopment, without this disturbance.