Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1890-04-23

Great Profits Of the Sugar Trust
II has been recently stated that the
profits Of the great sugar trust ara equal
70 from 30 to - per cent. on the capital
actually invested. The appraised vaiua-
tim OF the different concerns On entering
the trust was about $1,000, 90. In Civ
ing out certificates Of capital TO the mem
bers Of the combination the capital WIS
raised 20 three times that amount.
The motive Of this Is plain. The enor-
nous profits Of the trust, If reckOned on
= capital Of $50, 0O0, 900, appear less eI-
orbitant than If reckoned on the actual
capital and attract less attention and
hostility from the public.
Meanwhile the head Of the trust, Theo-
dore r. Havemeyer, defends himself
very logically by the principles Of the
protectiOnists in the following style.
1.-The great cry Of one Of the great par
ties is for protection; that il, they cry
for il loudly during campaigns. But
when we proceed to give ourselves some
protection a howl is raised. They de-
Inand protection for the industries.
When an industry protects itself it is
said that il Is Illegal
The sugar trust is a very shrewd and
daring Infant industry" il seizes the
thunder Of the protectionist Jove and
uses IL for its own ends. The trust is
thoroughly logical. II It is a good thing
o. have the products Of American mills
and factories increased in price TO the
consumer above their normal value, Why
may not different branches OF industry
form trusts 10 raise prices and thus pro-
tect themselves: They will realize larger
returns on their capital, and that means
protection to the American laborer; for
IL il one Of the beautiful dogrnas Of our
protectionist teachers that the more
money the employer makes the higher
the wages Of the labOrer will be.
Good protect.Onists ought really 10 ap-
plaud Mr.. Havemeyer and his associates
In the trust, and ought To hold them uE
70 the admiration Of the people.
And the consumer ought not 10 com
plain. II protection is TO raise prices &c
him at all, it really matters very littl,
whether it come through congressional
enactment or whether it b. the result oil
private combination.
Consumers ought to be more consid
crate, and not TO denounce Mr. Have
meyer as an ''all round villain"
We should remember that trust i:
purely private affair" with which
the government has nothing 70 do.
Meanwhile the sugar trust is firmly
holding its ground behind a wall Of s.
per cent. average al vaIorem duties; anC
the reduction on raw sugar without
any reduction on refined sugar-as Is re
ported 10 be the plan Of Mr. Mckinley
committee, provided he can get the con
sent OF the Kansas representatives TO
any reduction at ali--will only serve I,
strengthen the defenses OF the suga
trust
There is one practical way 10 turn tn;
position Of the trust; and common sens.
people cannot see why that should no
be adopted. Mr.. Mckinley himself saic
to an Ohio audience during the campaign
in that state last fall: Whenever thi
free composition is evaded or avoided By
combinations OF individuals or corpora
tions, the duty should be reduced anf
foreign competition promptly invited.
50, after all the wild and windy dec
lamation Of Republican stump speaker
in election times, their ablest leaders d.
believe that the tariff raises the price o
goods to the consumer. If the tariff
does not raise prices, then Mr.. Mckin
ley's fine sentence would lose its point
for 1t would be foolish procedure q
strike at the sugnr trust by the remova
OF duties if these duties do not keep tn.
prices up.
We are now collecting $50, 900, 900 &
year in duties on sugar-the poor bear
Ing relatively much higher proportion
of the burden than the rich-and until
the present Republican congress Assem-
bled everybody supposed that the govern.
ment had no need for this enormous sum
Now, however, it seems that congress il
making away with the surplus in such a
record breaking style, and is carrying
out 30 fully the late Corporal Tanner.
exclamation, ITO hell with the surplus!'
that instead Of q surplus we are 10 have
deficit, and that there is more method
than madness in Mr. McKinley's drae
net process for finding new subjects Of
taxation.
From present appearances the sugar
trust has nothing to fear.