The Tariff Act of 1890 Defended Speech of Hon Nelson W Aldrich of Rhode Isla
The Tariff Act of 1890 Defended Speech of Hon Nelson W Aldrich of Rhode Isla
Nelson Wilmarth Aldrich
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5 This table shows a decline in prices in all cases varying from 2. 8 cents per yard to 17. 7 cents per yard. I will also have printed in the RECORD a letter from the Royal Weaving Company, of Pawtucket, R. I. , explaining this statement. T have in my possession samples of all the goods on which prices are quoted in the various tables I have submitted. It is undoubtedly true that the price of most descriptions of cotton velvet and corduroys included in Mr. McKeever's table are somewhat higher t...o-day than they were in 1889 and 1890, just prior to the passage of the McKinley act. An effort was made in the years 1887, 1888, and 1889 to establish the industry of the manufacture of cotton velvets in this country; but in 1889 and 1890 the prices were reduced so low by the foreign manufac- turers as to drive most of the American producers out of the mar- ket; and while it is true that there has been a reaction in prices, it is also true that prices in 1892 on all classes of goods are less than they were in 1885.
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