The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-07-26
SMASH THE PLATE-GLAss TRUST.

1t is be regretted that a paper which
Is commonly supposed to have clear
views of the tariff question, such as the
Springfield Republican, should occasion
ally become befuddled and confuse it's
readers by the adoption of pretectionist
ideas. The Republican suffers such
fall from it's high estate in the follow
ing:
Another industry overstimulated by
excessive tariff has organized trust to
escape the naturally demoralizing eff
fects-the plate-glass manufacturers,
more than half of whom have formed
the National plate glass company with
a capital Of $S,000,000. Now the factories
have been shut down for an indefinite
period owing to overproduction and
close money. 1t is not foreign competi-
ton which troubles them so much as
home competition invited by the posi-
bic monopoly profits held out by
tariff Of over 100 per cent. Natural con-
ditions would seem to be able to stimu-
late competition plenty strong enough
without calling TO their aid excessive
protective duties, which in the end drive
capital into these high-handed attempts
to beat down all competition.
What does the Republican mean by
overproduction? Evidently it means
that more glass is produced than
is used under existing circumstances
and a present prices. If the plate
glass manufacturers had done what
the protectionist theory provides
they should do; i. e, reduced prices on &C
count of domestic competition, the mar
ket would at once enlarge and the So
called overproduction would cease. Com
petition, whether foreign or domestic,
reduces nothing but profits. There is
nothing naturally demoralizing' about
it, On the contrary it is the natural
and healthful agent of symmetrical de-
velopment of industries. When profits
in any business are abnormally large
capital is attracted to it and competi-
tion brings it to natural relations with
other enterprises. When profits be-
come too small capital is withdrawn,
unless by combination profits can be
restored. In the plate glass business
prices have not been reduced to a point
to cause loss of profits. This is GER
tain because there has been a continual
importation of foreign plate glass, not
withstanding the enormous duty imposed
on it. There cannot properly be said
to be any overproduction of plate glass
in this country so long as we import
more than million dollars worth per
annum.
But the plate-glass trust is not in
terested in the question of production
further than as it affects prices The
members do not want any extension of
crease of price will result in decreased
use of plate glass and that decrease of
price would produce an increased use of
plate glass. Their object is to restrict
the purpose of increasing their profits.
They care nothing for the fact that hun
dreds Of men will be thrown out of en-
plOyment They care nothing for the
fact that property in the neighborhood
of their works will depreciate in value.
They care nothing for the fact that their
combination is criminal in character and
punishable under the laws of the United
States. All they want is more profit,
and they are enabled to get it because
of the tax imposed on plate glass. There
is an easy way to smash this trust, as
well as hundreds of others. Take away
the tariff wall behind which they are
sheltered. If we need any revenue from
plate glass reduce the tariff to strictly
revenue basis. If not, wipe 1t out alto
gether