Los Angeles daily herald., 1888-09-30

tuo pOiub MaAo 10 tH6t tIlcy COulu uob
exist and thrive in this country without
high tariff. submit an extract from
the Chicago Tribune, a good Republican
authority, which declared as follows:
What is trust but combination OF
tariff protected manufacturers to strangle
competition, monopolize industry and its
products and fleece consumers? 1t has
no other purpose, whether it is sugar,
steel or a lead-pencil trust. The ultra
tariff tax is their sole support. The con-
nection between tariff monopoly and
trustism is clear. So long as excessive
duties are maintained, these trade rings
will be enabled to bleed the people.
Reduce these duties to decent, reason
able figure, and they will be smashed.
The effect of trusts as claimed by this
organ of the Republican party is to
strange competition, monopolize in
dustry and its products and fleece con-
sumers," is not too strong. 1t does all
that and much more. Holding the home
market we'll in hand, trust is able to
drive labor out of employment, reduce
production until the price for one-half
will afford profit equal to that derived
from full production. But it does still
more. The trusts see to. it that no i'm
ports come in like the articles they pro-
duce, for they fix their selling price Just
enough below the high tariff to undersell
the foreign rival and prevent imports.
Thus the Government is deprived of
revenue on the one hand, the consumer
is fleeced on the other, labor is robbed of
employment, while the conspirators
grow rich and laugh at the folly of law
makers.
The Republican party is responsible
for the out-growth and logical results of
the high war taxes which now prevail.
As a result, $40, 900 900 of useless and
unjust taxes wrung from the people now
lies as surplus in the Treasury.
When it is considered that the
total money circulation in this country
is about sixteen hundred million of dol
lars or twenty-six dollars per capita, and
that about one.twelfth of the whole cir
culation is withdrawn from the business
of the country, the people may well be-
come alarmed; but the condition is worse
than this. There is locked up in the
treasury about six hundred millions OF
dollars, leaving only about one billion of
money in circulation, or sixteen dollars
per capita, and the increasing surplus be.
| ing Withdrawn from business is at the
rate of nearly ten millions per month.
So under the same policy the entire cir
culation would be substantially with
drawn in period of about eight years,
and thus bring general distress, bank
ruptcy and ruin in all commercial and
industrial pursuits in the country. Few
can realize how fast the peoples monev
is being withdrawn at the rate of ten
millions per month, that is $33 5000 per
day; $1,37S per hour and $23 per minute
The financial condition of the country is
alarming in the extreme and unless the
remedy is quickly applied the result may
be very disastrous.
The Mills bill offers the only remedy
now proposed to the country. 1t is not
complete and as full as the Democratic
party desired it, but it begins the good
work and will keep down at least the in
creasing surplus. This measure is not
radical, nor does it propose to make all
the reduction on any one source of re-
venue. On the contrary, to relieve
as far as possible the necessaries of life,
all raw materials, leaving taxation upon
luxuries and upon those articles the best
able to bear it. The total reduction pro-
posed is 1916, ,054 %; of this amount
$SH, 1OJ3OUO.1O ID lCnltUCQ NY pldCllR dTIl-
cles of prime necessity and raw material
on the free list. $31 $50, ,94l.74 is a re-
duction On articles bearing import duty,
and $24, ,455 ,607 90 is the amount reduc-
ed of internal revenue, while the estima-
ted surplus on the fiscal year of 1888 is
estimated to be $S1 100000. So every
business man must see that wise dis
tribution has been made from all the
sources of revenue with the purpose of
injuring none. On the contrary, it pro-
poses to do the greatest good to the great
est number. The measure is extremely
valuable because it has corrected many
of the inequalities of the present law,
which arbitrarily fixed rates, running
from one per cent to 208 per cent. Al
ways discriminating in favor of the high
priced article, the rate on it being lighter
and against the low priced article, the
rate on it being heavier. This inequality
was fostered by the article carrying a
specific and ad valorem duty. The specific
duty rated upon the pound or square yard
without regard to value and the ad val
orem rate fixed upon the value OF the
article imported. About all of this is
stricken out and simple ad valorem
duty fixed upon the items in the sched-
ule. If the bill had nothing else in it
but this reform, it ought to be adopted.
Again, the articles of lumber, wood,
salt, hemp, jute, chemicals, metals, tin =,
ties and wool, comprising the free list Of
over $22 100000, is without doubt a
great relief to the people. This, how
ever, is opposed by Republicans. Let
the country remember that this reduc.
ton and reform is the only measure of
relief proposed by Congress, and unless
it is adopted the people must submit
longer to the exactions and expressions
of the war tariff with all it's disastrous
consequences. 1t is, therefore, not a
| choice between measures, but it is the
only measure through which the country
can hope for relief.
The Democrats have administered the
Government nearly four years without
the charge of corruption or diversion of
a dollar of public funds. They have
eliminated useless expenditures and i'm
proved the efficacy of the service. They
have laid a strong grip upon corpora
tions, monopolies and trusts, and are
driving them to take refuge under the
| flag of truce held out to them by Mr.
Blaine and his party. Over so, 1000, 900
acres of land have been wrenched from
corporations and given to the public do
main, and 65, 1000, 900 more may be here
after. The Land Office and other de-.
partments have been reorganized and
put upon better footing. The Pension
Bureau has been improved, so that it