Smyrna times., 1894-09-26
The Sugar Question.

We published last week over the
signature Your Correspondent" a
strong criticism on a newspaper clip
ping in the TIMES on the advance in
the price of sugar as the result of the
new tariff.
While the TIMES is medium of local
news including correspondence per-
tanning to the interests of this COM
muEity and State,it is hardly the desire
of our readers to engage in a long po-
litical controversy, but having admit
ted the article above referred to, it is
but fair to admit a statement on the
other side and there end the matters,
unless it be to correct Interpretations.
A correspondent in cOntrOverting the
statement last week, says:
The intelligent readers of the TIMES
will know that statements of "Your |
Correspondent" is not only "gross
error" but absolutely untrue, and the |
writer well knows that "yOur corre- |
spOndent," does not know the truth of |
the matter he undertakes to write |
about and what he states if reversed |
would be entirely true. Your corre-
spondent" certainly did not intend to |
misrepresent the facts and the writer
will therefore undertake to enlighted
him. When the present incompetent
administration, came into control of
the government and President CleVe.
land appointed Mr.. Carlisle, Secretary
of the Treasury, the gold balance was
$100,000,000, which had always been
kept at that by the previous admins
tration, as a basis for the issue of
Treasury notes, while the Treasury
balance for the payment of current ex-
penses of the government was fully
ample for the purpose, and never began
to decrease until six months after the
administration had undertaken to
manage the affairs of the government,
and when President Cleveland and
Secretary of the Treasury Carlisle un-
| dertook to give the business people of
the country an object lesson, in order
to force a repeal of the purchasing
clause of silver, a panic ensued, the
worst the country ever experienced,
and the depreciation of values, if it
could be correctly ascertained, would
amount to billions of dollars. This was
in the summer of 1898, when the rev.
enues of the government decreased so
largely by reason of the falling off of
impOrtaliOns that it became necessary
for Secretary of the Treasury Carlisle,
to negotiate loan of fifty millions of
dollars in order to maintain the reserve
gold balance of one hundred millions of
dollars and his juggery with the
bankers of New York from whom he
obtained the money, caused them to
lose confidence in his management of
the Treasury, so that when it was
thought likely to be necessary for him
to negotiate another loan in order to
maintain the gold reserve, it was init.
mated to him by them that they would
not take the loan; that they took the
previous loan of 100000 in order to
save the credit of the government The
gold reserve at this time which should
be not less than one hundred millions of
dollars, is only about fifty millions.
Then Congress met in September in
extra session, in order to repeal the
silver purchasing clause, and remained
in session for three months, in order to
accomplish the object, while the busi-
ness Of the country became paralyzed,
imports continued decreasing and as a
consequence the revenues of the govern
ment derived therefrom also, and the
|
creased, all of which "your correspond
ent," seems entirely ignorant of.
December 1898, Congress again con-
vened in regular session, and about the
first and only thing they did was to
tinker with the tariff, and after being in
continuous session for eight months,
passed tariff bill with an income tax
attached, reducing the duties on most
| Ill II oc g., ~
imported into this country in oompe,
tition, with American manufacturers
and produce repeating the reciprocity
treaties with foreign countries, destroy.
ing the commerce with those countries
paralyzing all kinds of business, de
strOying all new enterprises, causing
factories to reduce the wages of theiI
operatives or to shut down, railroad
! earnings to largely decrease, agricul
tural products to sell at prices never 81
low and wheat, that farmers were
promised by lying politicians $l.25 &
, bushel, now selling for about so cents
y the lowest price known in the history
Of the country and yet "yopr GORE
spondept" seems oblivious to all these
facts and not gross errors" as be may
be pleased to term them.
n Sugar, both raw and granulated wal
4 never so cheap to the consumer, so be
h fore this new tariff passed by the last
!. session of the imbecil congress to whicl
the President would not affix his sig
nature. Both raw and refined are pu
rs rs on the dutiable schedule, while unde
il the repealed tariff, raw was put on tn,
free list and bounty of Q cts. pound
ID given to the American growers, il
a order to encourage increased produc
" ton and duty put on refined in orde
To to protect American re6ners, whicl
$ caused large decrease in prices to th,
consumers, and a very large increase il
ir the production of cane, beet, sorghum
a. " and maple sugar. Prices of granulate,
sugar, at the retail grocers was selling
" on an average Of about cts. the pount
ie while now it Is quoted in the marke
reports of the daily newspapers a
wholesale at cents pound; at retail
in the city of Philadelphia 81 and il
the country stores at cents a pound
The causes of these changes in prices Q
q sugar to the consumers, are owing h
that Octipus, the Sugar Trust, who's