Jasper County Democrat, Volume 19, Number 60, Rensselaer, Jasper County, 25 October 1916 — MONOPOLY’S PROPAGANDA [ARTICLE]

MONOPOLY’S PROPAGANDA

Doubtless one ought to be ashamed to pay attention to the drivel peddled out in the declining years of the decayed monopolytariff propaganda. But, in view of the columns of this kind of stuff turned out from week to week by the subsidized remnant of the old Payne-Aldrich school, one may be pardoned a few paragraphs by way of epitaph to the departed. During the first year of the Underwood tariff there was less than the normal annual increase of imports—-about $80,000,000 increase. On the other hand, during the first fiscal year of the PayneAldrich tariff, 1909-10, imports increased by over $245,000,000.

If, therefore, increase of imports were due to the Underwood tariff in 1914, and this increase created a depression in business, as argued by the Payne-Aldrichites, what shall we say of the effect produced by three times as heavy increase of imports just after the Republican tariff became effective in 190910?

If $80,000,000 increase of imports depresses business, what will $245,000,000 increase do? In the first place, it is absurd that a petty increase of $80,000,000 in the Import trade would have an appreciable effect upon the $40,000,000,000 business total of the country one way or the other. It represents only one-fifth of 1 per cent of the business total. It would not pay for the smoking tobacco, and is about three per cent of the country’s drink bill. Inr the next place, the increase of imports might be an aid so far as its effects went. For example, imports of raw wool have increased under the duty-free schedule of the Underwood tariff over $100,000,000 during the past year as compared with 1912. What is the effect?

Our production of woolen goods has doubled, and the export of woolen manufactures has increased seventeenfold.

As shown by the statistics of commerce for the first eight months of the present calendar year, our imports of crude materials for use in manufacturing are nearly $300,000,000 larger than for the same period in 1915. And what is the effect? Our exports of manufactures ready for consumption have increased $960,000,000. Be that as it may, when the Republican party gets to the point that it seriously argues that an import trade increase amounting to one-fifth of one per cent of the country’s business produces a national depression of industry, it simply advertises itself as having reached that stage of mental decay when its only logical destination is the garbage heap.—lndiana Forum.