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The Commoner
M&RCH, I91
23
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Redfield Reviews Business Conditions
Special dispatch to the New York
Herald: Wheeling, W. Va.Feb. 24.
W. C Redfield, secretary of the
department of commerce, principal
speaker at the ninth annual banquet
of the Wheeling board of trade to
night, declared that a marked im
provement was shown in the coun
try's "business conditions, reviving
coinage and. destroying alarm.
Mr. Redfield was shown through
the large industries of the Wheeling
district during the day, and he ob
tained considerable data for the use
of his department. Richard B.
Watruous, of Washington, secretary
of the American civic association
and R. B. Brown, of Zanesville, Ohio,
both of whom also spoke at the ban
quet, were members of the party
'touring the mills and factories.
Mr. Redfield found all the in
dustries of Wheeling and vicinity
running up to normal capacity or
betterf and he made reference to that
fact in his address on "Current In
dustrial Conditions."
The removal of the tariff duties,
he said, had resulted in a marked de
- crease in the cost of food" nnd cloth
ing; He defended the tariff act and
declared that government intended to
help and not-hinder legitimate busij
ness.
TEXT OF THE ADDRESS
Mr. Redfield's address in part was
as follows:
: "In a report of the American con
sul at Birmingham, England, dated
November 24, 1913, he stated that
conditions in the iron and steel
trades in that British city 'do not
improve.'
"On January 13 last a special in-
-vestigator of the department of com
merce wrote-from Qermany:
" The' "trade depression 'here is
extreme. It has lasted much more
than a year and is expected to last a
year longer.'
"In the period of about two
.months between the dates of these
communications, and at a time which
was almost coincident with the end
of the last calendar year, America
reached the bottom of her temporary
and slight depression and our busi
ness barometer began to rise. What
are the factors on which we may rest
with confidence that their operation
will mean fair business weather?
"No want exists in the resources
with which we must work; the
alarms of war are not heard among
us, and our fields remain not only an
unexhausted but on expanding re
source. We may, therefore, pass to
discuss another phase of our subject
in the hope that there also will be
found facts- that mav lend vigor to
effort and hope to industry.
SALES ABROAD INCREASE
"The man whose training has been
along business lines is almost of
necessity a respector of facts, and he
welcomes facts the more if they are
such as bring him cheer, add to his
self-respect and indicate prosperity.
Recalling what was said about the
depression of industry 'abroad, It
must be obvious to practical men that
at such a time industries are looking
for orders and prices are relatively
low. If it is difficult to compete in
the markets of the world, with Great
Britain and Germany, now is the
time of all times when it is hardest
so to do, for both of these our com
petitors need orders and -will natural
ly make every practicable commercial
effort to obtain them. Yet it is the
fact, and to my mind a fact of great
stimulus and' significance, that in this
verv period of foreign depression the
products pf our industries have been
sold abroad to a greater extent than
ever before: ' ' '
"The trade balance in our favor
on merchandise transactions between
ourselvcK and foreign nations grew
from three hundred and thirty-six
millions for the last half of 1911 to
three hundred and sixty-six millions
for the last half of 1912, and grow
still further for the six months end
ing December 31 last to the great
sum of $404,500,000. this is an In
crease in the last six months of 1913
over the like period of 1912 in ex
cess of thirty-eight millions of
dollars, or over ten per .cent. If busi
ness continues at this ratio through
out the remainder of the fiscal year,
the result in our favoi will far ex
ceed anything hitherto "known. For
the six months w.hich ended with the
close of last year, we exported manu
factures as follows:
"Foodstuffs, partly or
wholly manufactured $158525,220
"Manufactures for fur
ther use in inanufac-
ture ' 190,099,294
"Manufactures ready
for consumption . . . 378,047,929
"Total of manufactured
goods in six months 727,272,443
"Out of our total exports, domestic
manufactures form fifty-five per cent,
and out of these exports of manufac
tures, more than half are fully fin
ished manufactures. In other words,
we are shipping the products of our
mills and factories abroad at the ap
proximate rate of five million dollars
daily, and out of this vast sum the
largest part is composed of goods in
which the percentage of labor is
the greatest, namely, fully finished
goods.
BIG GAIN IN ONE MONTH
"In the month of December last
the exports of fully finished manu
factures were over seven millions
larger than in November, and but
one pionth out of the last six equalled
them in total value.
"But you have all been told, and
told repeatedly, that with the reduc
tion of the tariff would come the
flood of products of the so-called
'pauper labor of Europe.' It is amus
ing to read in the foreign technical
press the humorous comments on
this type of fear. They do not look
at it that way, but the reverse. But
let us see what the actual results are,
now that tho tariff has been in force
over four months. The imports for
the six months ending December 31
last were twenty millions less than
for the same six months of 1912.
'Ah,' you say, 'but you have heard
the imports for December are the
largest in the historypf the country.'
So they are. They'amount to one
hundred and eighty-four and a half
millions, an increase over the largest
previous month, which was October,
1912, of six and a half millions, or
3.7 per cent, but if one compares
these two months of great imports
the increase will be found wholly in
foodstuffs and raw materials, and
there is an absolute decrease in the
amount of manufactured goods of
every kind. For example, the larg
est item of increase, almost eight
millions, is in crude materials for
use in manufacturing. Almost as
much, about seven and a half mil
lions, is increase in foodstuffs in
crude condition and food animals, as
I have said before, comparing these
two months, December, 1913, and
October, 1912, the two largest
months of importations in the coun
try's history, one under the new
tariff and one under the old, there
is an actual decrease in all three
classes of manufactured goods in
December last as- compared with
October of 1912.
"The new tariff has not thus far
resulted in any material increase of
importations of manufactured articles
to compete with the products of our
own factories, but rather its im
portant effect haH been to add to our
food supply.
NO WARRANT FOR FEAR
"If we look more closely at these
exports and imports they .will not
bear out either the statcmentH so
commonly made that we cannot com
pete with foreign makers or warrant
the fears that foreign makers will
Intrude dangerously upon' us in our
own markets.
"Tho Frankfurter Zoitung said
concerning tho German Iron and steel
trade last June:
" 'Ordera havo boon very difficult
to obtain for some time and prices
have been weakening.'
"Tho Birmingham (England) Dally
Post of July 12 said:
" 'For somo timo past manufac
turers in almost every branch of
trado havo been complaining that
new business is scarce. The
matkcd falling off In iron nnd stool
is one of tho most important fea
tures.' "In the face of these foreign con
ditions tho total exports of iron and j
steel and manufactures thereof from ,
this country Increased in last October (
over the totals for either July,
August or September. Somo will say,
'What happened after tho new tariff I
went into effect?' Just this: The
imports of iron and steel in October,
1913, tho first month under tho now
tariff were $2,575,000 less than they
wero in October of the previous year.
The exports were $25,189,000, near
ly ten times greater than the imports.
November last showed a similar re
sult. Tho imports wero less than
$2,500,000, a smaller sum than in
October, and less than in tho previous
November, while tho exports were in
excess of $20,000,000 December
brought the total imports up $2,815,
000 for that month, as compared with
steel and iron exports in December in
excess of $22,500,000. Taking the
first three months under tho new
tariff the imports of iron and steel
and their products were actually less
by $330,000 than for the three corre
sponding months of the previous year
under the old tariff, while against
total importations during these first
three months of tho new duties of
$7,900,000 there were exports of
iron and steel and their products in
the same period of almost $68,000,
000: NO SOUND CAUSE TO WORRY
"Certainly this is not a situation
to cause any one alarm. When ve
are able In one industry after the
duties are lowered to sell abroad
sixty-eight million dollars as against
purchases of less than eight millions
of dollars, and purchases indeed
which were actually smaller than
.those made under the old tariff, no
one has any sound cause to worry
about his market being flooded. The
tide runs the other way.
"If there is one fact which more
than any other stands out clearly in
tho business history of the last few
years it is this: That American man-j
ufacturers in many lines have shown
1 not only usual but extraordinary
! capacity in extending their sales into
foreign markets and in meeting in j
open competition tho producers of
the world. That which wo have been
taught wo could not do we are as a
matter of fact daily doing. It would
certainly be strange if-we were un
able to compete, for example, in pig
! iron with Germany and England
when our yearly production is a
million tons greater than that of
both nations together. If quantity
means low cost this should be con-
1
Isidered settled.
"Among other elements that count
for confidence Is the fact that the
weather in the great agricultural
states was in the early part of the
winter such as permitted the farmers
to give due attention to their soil,
while the winter wheat belt, in which
a larger acreage than usual has been
sown and in which the plant wan at
last accounts in good condition, Is
well covered with gnow a circum
stance which is for the present
wholly favorable. From tho condi
tions thus far existing concerning
this important crop no unfavorable
prophecies can bo drawn.
"Tho unfilled tonnage of the
United States Steel corporation on
January 31, 1914, was 4,000,000
tons an increase of 330,000 tons
over tho unfilled tonnage at the close
of December and larger than tho un
filled tonnago at tho close of any
other month since September.
CONCERNING THE UNEMPLOYED
"It remains, to dlsciiBs briefly two
other olemonts of tho existing situa
tion. These are tho prices of Com
modities and the matter of unem
ployment. Taking tho last of these
first, let mo say that the principal
fact about tho subject seems to bo
the lack of precise knowledge. Tho
whole matter has to bo treated with.
Caution, lest wrong inference bo
drawn. During tho winter months
thousands of laborers arc thrown out
of work for climatic reasons in fill
our northern statrs, and it Is normal
that they should concentrate, as for
years past they havo done, in our
largo cities and industrial centers.
"Statements have been made and
denied to the effect that there are
more unemployed in New York this
year than usual. This may be true
without meaning that there is arty
abnormal excess of unemployed In
tho whole country. New York city
is known to be in the act of spending
several hundred millions upon sub
way construction. This has been
widely advertised, and as the work
goes on throughout the winter it is
especially attractive to men seeking
employment.
"Concerning the cost of living,
there are a good many media be
tween tho producer and the con
sumer whoso Interest it is to get as
large a price as possible. This is
the case, as we have seen, with the
Argentine beef which reaches New
York. Nevertheless It is the fact, as
a largo dry goods dealer has recent
ly stated, that many things are
bought in tho wholesale trade al
ready more cheaply than they were a
year ago, particularly woolens and,
as we have seen, beef and butter. Tho
tendency is therefore clearly and
openly Jn the direction of a reduction
in the cost of food and clothing
through the removal of the tariff
tax."
Stop Using A Truss
STUART'S Pl.APAO.fADt
are different from the tress, kefoc
medicine applicaton raade sM
adhesive purposely to beM tk
parts securely In place. M snas
or buckle attached no etmeafew
pring. Cannot slip, so twmtl
chafe or press against the bm.
Thousands have suceessfttlly
treated themselves at home with
out hindrance from work most
obstinate cases cured. Mm
velvet easy fa sppty Inex
pensive. Awarded Gold Medal.
Process of recovery Is natural,
eo afterwards no farther bs
for trusses. We prove It by
sending you Trial of Flat
absolutely free. Write today.
WM0 CO., tek I21f M. Ink, Ms.
RINGER'' RICYGLES
Have imported retltr efiaint, TfrccMtts ir4
peaau; new utparturt c easttr-liraJttt wl
liueti j'unaurt rroff Tirts. HifHttt gradi
tqutpmtm ana many advanced features pos
iry no ower wi.eeis. uuaranitcajyrs.
FACTORY PRIGESM
otliers ask for cheap wheel. Other reliable
models from 112 op A few gaerf:
hand machines $3 to .
hdays'freetbial::
HM.fl fmstiwU 4.JiJJ m.u.I & Z ft C
without a ttnt iti advance. BO WW Ot
STUARTS"
MHUV I
Q PuswPads fl I
IB I
j RUPTURE I
fp30El7
-fffsf '"
m rem svTvm
m uicycic or a pair 01 ures iron. anyoiul?
ftritf Until yen get our big new catakg mm!
-m 4trr
TIBCC; CotcrhrakoearWb8s,itHs,
w imiu, mu suonncs nair twwi ruttt.
Rider Agent
.fl. fir.! -
MEAVCYCLKCO,
ara, udu sunnne naif unuti prutM.
everywhere are coining money $JMf tr
"""" rviiio UHIIIT.
DjH. W 177
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