Misleading Theories

The eost of the raw material the manufactured article was a theme of discussion in the Presidential campaign of 1892 among the advocates of the socalled reform Tariff. Faots, ascertained liv inyestigation, show that such cost isvery small ín proportion to the other expenses. For illustration, the pric.e of an elabnrately made anido of liouseliold furniture may be $100 to $150, vet the raw material used in the sanie may cost $12to $15. This is equally true of a piano costiug from $300 to $800; the raw material may eost $25 to $30. In these oases the cost of the material is estimated as it reaehes the hands of the workmen and not an iron ore in the mine or wood in the forest. lts great expense is in the wages of the workmen who procure it. Mr. Cleveland, . himself, laid great stress upon the free admission of ron ore and coal and was specially earnest for wool to be admitted free of duty. ïake an illustration : a gentléman's suit of fine broad cloth weighs, with the trimmings, etc., frouiö) to 1% pounds; the cloth itself does not weigh more than 6 or 6}i pounds. Suppose an American manufaeturer buys the best quality of merino wool to use in making his cloth, and in order to cover the wastage he buya 10 pounds of the wool. The McKinley bilí imposed a dutj' of 11 cents a pound on that class of wool. From this it follows that each gentleman's broadcloth snit costs $1.10 more money because of the duty. Now intervenes oue type of statesmanship, whieli, in order that, perhaps, a half million of gentlemen may each obtain a suit of broadcloth $1.10 cheaper, all wool is admitted free of duty. In consequence the sheep raising industry of the United States, which is estimated in value to be nearly $100,000,000, is depreeiated about one-half. - American Economist. Monday's Chicago ínter Ocean has reports from the Dakotas, Minnesota and Illinois, all to the efl'ect that the crops are to a great extentfailures. The wheat erop in the Dakotas is full of simit and rust, and the rain and hail has destroyed much of the corn erop in Illinois. A private letter to the writer from Grand Forks, N. I)., says : "Everything here is on the verge of a boom, and if good weather continúes the 'Dakotas will harvest the largest erop in their history. The wheat is very heavy, in some places too heavy. The farmers will begin cutting in about three weeks, and if the marke't goes up- and it looks very much like it- this country will be right on the band wagon, to use the slang of the day." Ilon. James O'Donnell, of Jackson, is announced as Speaker of the Day at a big Labor Day celebration, to be held in Owosso Sept. 2d. If anyone thinks James is sleeping they are wouderfully mistaken.