In 1913 Fred Gruen made this presentation for the Ways and Means Committee of the House of Representatives
Yet more historical documents and data for you to digest. Are you full yet of Gruen material?? You ARE reading everything that's being posted on this site, right? If not, no whining about lack of Gruen documents to read. This one is dense. It's an interesting but difficult read.
There WILL be a test that determines if you are able to access some areas of this site.
There are a number of interesting facts buried in this "denser than a blackhole text"
An example fact presented is the average cost of a movement
- 17 jewel unadjusted movement $1.80 ($42 in today's dollars)
- 17 jewel adjusted 5 positions $6.50 ($157 in today's dollars. 3.75 times the cost of an unadjusted movement)
This tutorial, provided by Fingyan.com will be helpful as you read the text:
A tariff is a tax levied on imports or exports or you can say tariff is a tax imposed on imported goods. The word is derived from the Arabic word taārif, meaning ‘fees to be paid’. It adds to the cost of imported goods and is one of several trade policies that a country can enact. Every country has separate tariff regulations. It helps the government earn extra funds, reduces dependence on foreign markets and protect local businesses. The five main types of tariffs include revenue, ad valorem, specific, prohibitive and protective.
Revenue Tariff :- A revenue tariff is a way that the government will try to increase their funds. A tariff on coffee imports imposed by countries where coffee cannot be grown, for example, raises a steady flow of revenue.
Ad Valorem :- An Ad Valorem denotes a tax, duty, fee or commission that is calculated as a percentage of the good imported. The problem is that as the value of the good rises and falls on the international market it will change the amount of tariff that needs to be paid. This can be problematic because it makes life even more uncertain for importers.
Specific :- A specific tariff is a fixed fee levied that needs to be paid on imports – this money won’t vary in the same way as the Ad Valorem tariff. On the other hand it varies according to the type of good imported. For example, a country could levy a $10 tariff on each pair of shoes imported, but levy a $200 tariff on each gadget imported.
Prohibitive :- A Prohibitive tariff is there to discourage people from importing a certain item. A protective tariff is used to raise the price of imported goods as a protective measure against the competition from foreign markets. A higher tariff allows a local company to compete with foreign competition.
Protective :- A protective tariff is intended to artificially inflate prices of imports and protect domestic industries from foreign competition. It is there to defend industries within a country. If a foreign country is able to product a product at a much cheaper price it will be more attractive to consumers; this means that most will abandon the expensive item that is produced locally. A protective tariff will mean that this imported product will be more expensive and the local industries will find it easier to compete against it.
Using the embedded viewer you can read the document right on this page on the web. I've set the security such that you can download it for reading it offline.
While the source information is obtainable without restriction, in a difficult to read, grayscale scanned JPG format. To obtain what you see on this webpage, a highly readable, very clean and clear document, every word was painstakingly typed into Microsoft Word. All of the tables turned into Word tables, etc.
I only ask that rather than reposting the document in other locations that you send interested parties to this web page where they can read it online and download their own copy.
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