Daily independent. [volume] (Elko, Nev.) 188?-1915, 1888-05-24
THE TAX ON BORAx.

The failure of the firm of w. T. Cole
man & Co. is due to the Mills bill which
proposes to place borax on the free list,
{although there is no assurance that
the measure will become o law) reminds
one of the "devil shearing hogs"
which produced great cry and but lit
tie wool. The Boston Globe puts the
whole thing in O nut shell in an article
headed "The Downfall of One Trust"
which is herewith reproduced in full.
William Tell Coleman, of San Fran
cisco, whose firm has failed for $4,000
900, was one of the New York Suns
favorite candidates for the Presidency.
He was, doubtless, one of the few men
accustomed to act with the Democratic
party, who in this emergency oppose
the Just and reasonable reduction of
taxation proposed by President Cleve-
land.
Perhaps It may not be difficult to see
why this California Democrat opposes
the Democratic policy of tax reduction.
When his failure was announced it was
telegraphed all over the country that
the Mills tariff bill was the cause of it.
"rhe firm had $2.O0O,0O0 locked mp In
borax," it was said. 'and the Mills bill
puts borax on the free list" From
this the high-tax organs will doubtless
draw the moral that tariff taxes should
never be reduced.
But the facts rather obscure the
moral. The California deposits of borax
are the richest in the world. They
need no protection. Even ut the same
prices paid for the pauper borax OF
other countries the owners of the great
deposits which nature placed under the
soil of California would be richly re-
munsrated. The duty on imported
boracic acid merely snables the Califor.
MIA millionaires to put larger profits in
to their own pockets. at the expense of
all the blacksmiths and washerwomen
who use borax.
Three months ago all the borax
mines in the country, includih !,
those controlled by William T. Cole
man IL Co.. formed "Trust." 1t was
Intended absolutely to control the sup.
ply and the price. Coleman & Co.
were the leadii g spirits. and their
mines were, by tie agreement, to fur.
nish about one-third of tae entire ont.
put. Such trust was only made DOS
sible by the protective" duty, which
gave the combine monopoly of the
home market.
Without this tariff protection the
trust could not have existed for single
day. With free trade in borax, how
ever, the business would have been CAR
ried on just the same, supplying the de-
mand as we'll and employing just as
many men; but the price on the con.
SINNER would have been DO per cent.
less, willie the pr, fits of the mine own
ers would still have been ns high as in
reason they coulI ask. But because the
Mills bill only threat, ned to put boiax
On the free list the power Of the trust"
collapsed, and the failure OF the frm
that VAS correring the peoples supl lies
to tho extent of 1000, 900 followed.
We hope the high-tarifR organs will
make the most OF this "ruin OF Almeri
can industry" by tariff reform. But
lot them not fail to point out that til.
Industry" that IL ruined is the indus
try Of trust making, not The industry OF
borax milking.
The democratic party has promised
the people that it will ruin the "infaut
indu' try" of making trusts" and il il
keeping its word. The Mills bill has
not yet become a law, but already the
Borax Trust tottcrs to its full. II Is the
fpt victory OF President CIeveLnd's
war ON the trusts. SO perish I'LL the
enemies of Legitimate business ana hon.
est lnborl