The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-09-26

as no definite time is given for the re-
fineries to start UP again"
This is the way III which the benefi-
cent trust has been able to steady the
price OF refined sugar so that in more,
than two mouths it has declined less
than one-hfth of cent, while raw,
thanks to the ''standoff" qualities of the
trusts buyer, has declined fully cent.
1t costs less that nine-siXteenths ola cent
per pound to refine sugar. We consume
an average of 20 pounds per capita.
Hence at present prices the trust is
making at the rate of about $4,000 900
profit per year on its capital, watered
from about $50, 100000 UP to S75, OOO. 900.
A most beautiful arrangement for the
re6neries! But thev cannot maintain so
wide difference between raw and re-
tined sugars forever, for foreign refined
can be profitably imported at 500 cents
after paying the. duty of one-half cent.
1t it were not for this duty, granulated
sugar could not sell for more than $50
cents.
This duty was given to the trust by
Mckinley and Aldrich in consideration
of prospective financial aid to be given
to the Republican party. 1t has been
openly charged by Colonel Mcclure that
the trust fought the battle in Rhode
Island that reelected Senator Aldrich,
and that it contributed to the national
Republican campaign corruption fund
in 1892. Probably it did contribute
100000 or 5000, 900 to aid its friends.
But what bargain! The half cent
duty is worth 100000 900 year to the
trust.
We wish to call the attention of Chair
man Wilson of the ways and means
committee to the great fortune which
the trust makes each year out of this
half cent duty ana remind him that it is
paid by the s., O00, 900 unwilling subjects
of the trust in this country. We would
remind him that they prefer fuctuating
and low prices to steady and high prices;
also that the tariff in this case has be-
come what the New York Tribune calls
an instrument of extortion" not only
from consumers, hut also from produc-
ers of raw sugars and from laborers in
refineries. 1t is the duty which gives
life to the trust and enables it to choke
off competition by buying up new refin-
cries at exorbitant prices.
Because the trust is the only buyer of
raw sugars on this side Dc the Atlantic
it dictates prices so that, while refined
is always higher, raw sugar is invariably
lower here than in Europe. And when
the trust has to purchase in Europe-as
it does every ye''r-it always pays more
than the American price for the same
grade of raw sugar We have seen how
the trust, being the only employer, can
tyrannize over laborers. It is omnipo-
tent. Worlingmen who are not fortu-
nate enough to know another occupation
must either starvc or submit to its terms
and be roasted alive.
We wish also to remind Attorney Gen
eral Olney that the trust is most fla
grant violator of the federal antitrust
law, which makes illegal 'every con-
tract, combination in the form of trust
or otherwise, Or conspiracy in restraint
OF trade or commerce among the several
states or with foreign nations" Not only
does this own 80 per cent of the refineries
east of the Rocky mountains, but it has
for some time been joint owner with
Spreckels of the two retineries on the Pa
clfic coast. 1t conspired to obtain con-
troll of the Spreckels refinery in San
Francisco by offering Spreckels big
salary and half of the profits if he would
combine his refinery, with 600 barrels
capacity, with the trusts refinery there,
with 1000 barrels capacity. He accept
ed and is now manager of the Western
Sugar Reineries company-the western
end of this Sugar trust. 1t is such Wig
orous end that it never sells for prices
lower than those in the east, and at one
time (July 8, 1899 its price for granu-
lated sugar was ST when the eastern
price was only Il cents
Messrs. Wilson and Olney, don't for
get this most benefcent trust!
BYRON w. HOLT.