Music Trade Review

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THE MUSIC TRADE REVIEW
REVIEW
PUBLISHED BY EDWARD LYMAN BILL, Inc.
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this paper. We also publish a number of reliable technical works, information concerning
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Vol. LXX1II
NEW YORK, SEPTEMBER 17, 1921
No. 12
MORE HOMES, MORE PIANOS
of economics have maintained frequently that much
S TUDENTS
of the depression in certain lines of trade is due directly to the
fact that there was a scarcity of homes, particularly new homes, in
the country, and that this scarcity, coupled with the overcrowding of
existing domiciles, killed possihle interest in the purchase of products
calculated to beautify the home or lend to its cheerfulness. In other
words, a family temporarily crowded into the modern two-room and
kitchenette apartment has little interest in the purchase of a baby
grand piano or a period talking machine.
Now comes the gladsome news that building operations during
the past couple of months have shown a steady, substantial growth
throughout the country. In July, for instance, building permits,
chiefly for homes, exceeded in value the permits issued in any July
since the war. The demand for building hardware is the heaviest
in months, and a similar condition is reported in the case of other
builders' supplies, all of which is having its effect on kindred lines,
such as house-furnishings, under which heading may be included
musical instruments.
Rapid development in building operations is taken to indicate that
the demand for musical instruments and other commodities of value
from new home-owners will, in a large measure, offset the possible,
and in fact apparent, effects of the unemployment situation. This
building activity is just another factor that leads to confidence in the
immediate business prospects of the-music and allied industries.
THE GRADUAL RETURN OF GOOD BUSINESS
H E coming of September, heralded as the official opening month
of Fall so far as business is concerned, did not result in a sudden
rush of piano sales, either wholesale or retail. The mails during the
opening days of the month did not bring to the manufacturers vol-
umes of orders sufficient to keep the plants working at full blast until
after the holidays, nor did procrastinating prospects crowd into the
retail stores to close pending deals.
Probably this failure of September to swing the pendulum
T
SEPTEMBER 17, 1921
of business in a new direction proved disappointing to various mem-
bers of the trade who have been waiting more or less patiently for
something to happen, and in many cases resting while they waited.
As a matter of fact, however, there has been a very notable improve-
ment in business during the past two or three weeks—sufficient
improvement to fulfill the prophecies of those trade members who
held that the Fall would witness a very satisfactory, although not
abnormal, volume of business.
A number of the more successful dealers have begun to stock
up for the demands of the coming three or four months, but there
are still too many who persist in buying goods on a hand-to-mouth
basis. Travelers continue to return from the road with reports of
retail stores that are practically devoid of stock, and the reports
serve to bear out the belief that there is going to be considerable
business lost this Fall because retailers have not the goods to offer.
Reports of a better tone in the business world generally are not
simply the mouthings of confirmed optimists, but have a real basis
in fact. The improvement began last month with the movement of
the agricultural products. It is also noticeable that the industries
began to show greater activity with a consequent good effect upon
the unemployment situation. The revival process is not rapid or
sudden, but it is in evidence nevertheless.
When general business is good it naturally follows that the music
industry is going to profit by that condition.
SENATOR SMOOT'S TAX PLAN
I
N the language of the day, Senator Smoot, in presenting his plan
for a non-cumulative sales tax as a substitute for all existing
revenue laws, has started something, and while there is considerable
doubt as to the possibility of Smoot's ideas being carried out by the
Senate Finance Committee, he at least has started the members of
that legislative body thinking seriously on the question of revenue
legislation that will be simple in its phrasing and in its application.
Moreover, it is reported that some of the strongest opponents to the
sa'.es tax idea in its original form have declared themselves to be
open-minded on the Smoot project.
That the Senate Finance Committee is not inclined to pass the
House bill as a cut-and-dried affair, and is going to give the tax
question mature consideration, is evidenced by the fact that that body
is willing to receive in conference this week representatives of various
trade associations suffering under the burden of excise and other
discriminatory taxes for the purpose of hearing the opposing
arguments.
It is, of course, too early to judge the results of the conference
on Wednesday, and it is not well to be too optimistic. The fact,
however, that those who seek to have excise taxes eliminated have
had the privilege of presenting their arguments in person leads to
the hope that the effort has not been in vain.
THE AMERICAN VALUATION CLAUSE
T
HE attitude of the majority of musical merchandise importers
and manufacturers in opposition to the American valuation clause
of the Fordney Tariff Bill, as passed by the House and now before
the Senate, brings to light an angle of the tariff legislation that is
certainly deserving of the earnest attention not only of musical
merchandise wholesalers and dealers, but of business men at large.
The facts as set forth by Fred Gretsch, president of the National
Musical Merchandise Association, in The Review last week, and by
William J. Haussler, of C. Bruno & Son, in the Musical Merchandise
Section of this paper this week, would seem to indicate that adherence
to the American valuation plan would not only stifle the import trade
of the country, but is calculated to have a similar effect upon export
trade through retaliatory measures taken by other nations.
The chief basis of complaint is that the valuation plan offers no
real standard by which imported goods can be valued by the
importer. It rests entirely with the Collector of Customs and those
whom he may bring in to advise him as to what value, according to
American standards, is to be placed upon the foreign product, and
unquestionably provides an open road for much unfairness in that
connection.
The musical merchandise men, as individuals, and very probably
through their association, will see to it that protests against the
valuation clause are presented to the members of the Senate, it being
realized that there must be overcome considerable favorable, and. it
is declared, selfish, propaganda in support of the clause.