New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-02-03
SALT
To the Editor Of The Tribune:
SIR have had my attention called to an article in
The Ereaino Post of the 10Th inst asking The TRrB-
Y The Tribune.

To the Editor Of The Tribune:
SIR have had my attention called to an article in
The Erening Post of the Goth inst, asking The TRIB-
UNE to declare as follows:
For instance We have BEEN time trying to get
THE TRIBUNE 20 declare for the people against the salt
monopoists But il will not do so ii confesses itself the
enemy Of the people and the friend ally aud supporter
help Of tarT laws to such an extent e&orbtant
prices they have put SALT that according to the sworn
of s6OOO0 divided s. cash It's stockholders
accumulated cash surplus OF sO0OOO ana raised the
actual value OF ITS property on hand not less than $1,000
900 more all within seven years. ........
Not only does TIE TRIBUNE support these monopoists
its actually defends their attempt TO get still higher
duty laid foreign salt and this though they have al
ready got themselves relieved from the internal revenue
tax
If you will permit me to answer for you, desire to
say that if The Post had understood the matter as
Mr. Wells ought TO have understood 1t if he had re-
collected and correctly comprehended the testimony
in the case spoken Of it would find that originally
this business of salt manufacture at the New-York
State Salnes was carried on by men of limited
means. in small separate manufactures, compelled
from their situation to buy everything necessary for
their manufacture in small quantities and at retail
prices and 10 sell their product at home in strong
competition with each other and often from necessity
at loss while the middle man and Spectator took
care that the final consumer did not reap much bene
fit therefrom. 49, -~
1t would also find that this monopoly it complains
of is only cooperation of the individual interests
of these manufacturers and that the 100000 capital
is simply cash basis upon which TO to advantage
over 100000 Of money invested in manufactures,
really az necessary capital as the cash which e1-
presses for business purposes the nominal capital
1t would learn also, that during the first five six
years of tins cooperation, it required all the ndvid
ual responsibility of the members of the Company to
-. IL. l.. . n n.a
year to carry on successfuyRthe business. so that
whatever of profits have been made in the enterprise
they ore the result of an actual capital of over
100000. instead of the 10000, as mentioned by
Mr.. Wells.
1t would comprehend in addition, that this com
bnaton or cooperation. of individual strength has
enabled the individual manufacturers largely TO
cheaper the cost Of coal for fuel Of barrels and cloth
for packages; and, by becoming their own statesmen
TO the actual consumer share of the profit made
heretofore by the middeman has been saved to the
manufacturer, while the consumer has been pecuni-
arily benefited; the cost of transportation has been
regulated by the absence of compelled competition
and labor, while fully remunerated, has been made
equable and steady. All these economies have con-
trbuted largely 70 the benefit Of the manufacturer
without enhancing but absolutely reducing the cost
Of the article praducod to the consumer
Again, The Post MI Wells and all others should
recollect that during the War Of the Rebellion, there
was a time when. p the Mississippi closed ocean
transit to Now-York .'pston, Philadelphia, and Bal
timore insecure, will cold at 80. and more. pre-
MUM. the manufacture Of domestic salt did not
dictate but the demand Of the Spectator and con
sumer made tho price of SALT and that in these years
1862, G3 and Gi these large profits were made, and
were not the result of any legislative tariff.
But now let US examine the truth of the figures
of profits made by Mr.. Wells and used by The Post
FIRST: The cash dividends are about one-haf the
amount of S2OOOOOO
Second: The surplus of 100000 Mr.. Wells knew
represented profit Of $4,000 in tho purchase and
sale of coal mine and to that extent part Of
the profit on salt
Third: That all the profits divided on an actual in
vested capital of over a. 900 though nomnaly
the expressed capital Of slG0ODO. were absolutely
paid 10 the manufacturers previous 10 the year 1865,
since which time up 10 the date of Mr. Weiss nyes-
tgation the sum of only sC7 500 by way of dividend
had been paid. A.