The Tariff and the Farmer. 19 



most cases only the individuals of the same group are 

 in competition with each other for the same product. 

 Now instead of these competing with each other for the 

 trade, it is more and more becoming the custom to estab- 

 lish a standard price, subject to some variations. While 

 price is based upon cost, which includes fair profit for 

 service performed, it by no means stops at that level ; it 

 is carried up as high as it is thought the traffic will bear. 

 With foreign competition shut out, and themselves sole 

 judges of what the price shall be, no one who knows 

 human nature would expect an exhibition of fairness or 

 moderation. Each group has a monopoly in its line, 

 and each is eager to make the most of it. With irrespon- 

 sible agents, all seeking to become quickly rich, in the 

 place of the self -regulating method of free trade no one 

 can doubt but that farmers' supplies will be and have 

 been greatly increased in price. That this is the result 

 is the opinion of men of prominence (see chapter V). 

 Mr. Mulhall, a noted English statistician, gives it as his 

 opinion that '^the value of American manufactures is 

 artificially raised by protective tariffs fully 33% over 

 the real value. ' ' 



Governor Cummins of Iowa expresses the belief that 

 tin plate, steel rails, barbed wire and kindred articles 

 are made about 100% too high by tariff monopoly. 



Ex-senator Washburn of Minneapolis speaks of indus- 

 tries that, ''sheltered as they are by the Dingley tariif, 

 make profits of from 25 to 100%." He speaks, too, of 

 ''the enormous prices of barbed wire, lumber, glass, steel 

 rails and paper." 



Ex-governor William L. Douglas of Massachusetts, 

 one of the largest shoe manufacturers in the United 

 States, thinks of the tariff tax that where "$16.52 per 



