The Hawaiian gazette., 1894-10-12

| ueLudHucu W Oc IeueeIQ6u, duu ulU
not know what was to be given to the
Democratic campaign fund in New
York in the same year. The company,
he said, did not expect any return.
He had long since learned the truth
of the colored mans beatitude,
blessed am dose who expect muffin,
and dey doan't get muffin" Whether
this negative blessing will ever strike
the Sugar Trust is matter of some
doubt, in view of Secretary Searle's
confession that, without any defin-
ite understanding as to any benefits to
be received thereby" it is expected to
get fair treatment "of our business
industry" )" and he adds, "it needs
fair protection from either party, aside
from any contributions or anything
else"
The Sugar Trust is satisfied with an
al cdtorem duty on raw sugar. 1t
yearns aud struggles for a differential
duty of of ! cent per pound on i'm
ported refined sugar, and that without
any apparent intention of cOnceding
| ditferential wages to the workmen,
many of whom have been Frustrated
by the recent intense heat, employed
in its several refineries. 1t wants the
differential as compensatory to the
| Sugar Trust; it refuses the diffarential
asked by steaming workmen as COM
pensatOry to them. II. o. Havemeyer
says that there are at least fifty articles
| indispensable to the manufacture of
sugar from the raw material that are
assessed from 25 to 75 per cent. by the
proposed tariff bill, and that these du-
ties increase the cost of manufacture
by more than ] of cent per pound.
Perhaps-the exhibit is in order. Any
how, the Trust affirms that the differ
ential eighth is "a matter of life and
Lori death" to it. If so, it is of great
Importance. But that is not so clear.
w. c. Ford, Chief of the Bureau of
Statistics, in speaking august 2d), of
the years foreign commerce of the
United States to a representative of
the United Press, said "The imports
[of sugar, raw and refined] in THE fis.
cal year] 1894 were unusually heavy,
4,344, 456, 1888 pounds, or sufficient to
meet full years demand.n If the
differentIal duty of / of l cent per
pound were imposed-which it would
net be-upon the whole of this amount
it would yield S5,430,570. But the
Sugar Trust paid % per cent, or $16,-
100000, in dividends on a capital of
S75 100000 in 1S93-a capital about
five times what it would cost to re-
place its plants. In other words, it
paid dividend of 10 per cent. in 1893
on the estimated cash cost of its prop
critics. If it should not obtain the
differential, and its dividends in 1895
be reduced to s11,0O0,0 900, that sum
will be l44 per cent. on its capital of
S75,000,000, and 735 per cent. on its
actual investment of $15, ZOO, 900. If it
should obtain the / differential the
rates of dividend on capitalization
and cash value would be still higher.
But as the House conferres who so
passionately protested that they would
never consent to the Senate's scheme,
have not only consented, but are said
to have conceded raise of the differ
ential from l S to 1-5 of | cent per
pound, thereby adding five cents per
hundred-weight, or over S1,2O0,O00, to
the profits of the Sugar Trust, it is
manifest that the dividends of 1895
will be considerably higher than
those of 1898. This will prob
ably be satisfactory to certificate
holders, and especially to the
barons who created the Trust, whose
salaries, if trustees, are said to have
been and may now be 100000 year
cash, while the officials are said to re-
ceive still higher compensations. If,
as "a matter of life and DEATH" these
concessions ought to be made the
sugar refners who receive such divi-
dends on their investments, then how
much of protective duty should be
claimed by and conceded to manufac-
turers who are not able to make any
dividend on the cash, much more the |
fictitious capital with which they are |
doing business?
CONCLUSIONS DRAWN.
The poverty-stricken Sugar Trust. |
as a member OF the "charity list,n
with hand on the throat of Congress,
demands this donation from the Amer |
lean people. Is it "a matter of life |
and [orl death" to its business or
stockholders? Chairman Harter, of |
the House Subcommittee on Trusts,
in his letter of July 9th, 1894, to Pre-
sident II. o. Havemeyer, affirms that |
the duty of half-cent per pound upon
all sugars above No. Is Dutch STAN
dard has put into the pockets of the
Sugar Trust and the independent re-
finers within the past three years over
SAC, 100000 of the peoples money,
while the government received only
$780, ,74l within the same period.
The end is not yet. The people will
make their convictions felt at the
polls, as well as through the press.
Perhaps they will prefer to buy their
sugar at something like the prices
they are paying now, to put refined as
well as raw sugars on the free list, to
strip the Sugar Trust of the degree of
protection granted by the Mckinley
bill when it was purpOs ed to encourage
the competitive refneries then exist
ing, and to require their Congressional
representatives to provide the neces-
sary revenue for the National Treasury
by duties on articles used mainly by
the opulent class to which the mono
polists belong. Taxation is not for the
benefit of class, but for that of the
nation.-Harpers Weekly, Aug. 18th,
1894.
Op0WNrn I'M nuF CTTDF