St. Paul daily globe., 1895-02-08
WHAT DO THEY WANT?

WHAT Do THEY WANT?
The house voted down and out the
administration bill presented by the
committee on banking and cur
rency. The vote was nearly the
same as was that on the rejection of
the Carlisle bill. The third reading
of the bill was refused by vote of
134 to 161. Mr.. Springer's motion to
reconsider was laid on the table on
the motion of Hatch. This killed the
bill
There are some hopeful indications
in the proceedings. The amend
ments offered by the silver men,
aiming to secure some recognition
for their favorite metal, were voted
down decisively. 1t is evident that
the majority objected to the single
proposition of a bond issue to re-
deem the greenbacks without other
measures looking to note issues be-
ing coupled with it. There is a state
bank contingent in the house whose
votes probably went against the bill
for the omission of their hobby. '.
The silver men voted against it, of
course. 1t meant the death of
everything they hope to accomplish
at the hands of this congress. It
ought to. The votes on their amend
ments should show them the hope
lessness of their cause, in this house
at least. There was division
on party lines only on the
vote on the Reed substitute, Mr..
Reed carrying his party with him
nearly sOlidly. On the final vote
forty-two Republicans and ninety
two Democrats voted for and fifty
six Republicans and ninety-eight
Democrats against the third read
ing
1t is evident that a majority of the
house do not know what they want
in the way of currency legislation,
or can't tell what they want We
see no hope of any legislation origi-
mating in the house. 1t is too hope
lessly at sea. No party is united.
The only prospect lies now in the
senate. There the same divisions ex-
lst, but no bill has been presented
yet that has any chance of passage
that so sharply defines the issue as
did the house bill. The senate is more
disposed to compromise differences
than is the house, as was shown on
the tariff bill. 1t is possible that a
bill may be framed with concessions
on all sides that will pass the senate
that it will be something very like
the bill of Senator Jones, of Arkan-
sas.
If, however, neither house should
act, and this congress adjourns with
out legislating on the currency, we
expect that the Fifty-fourth con-
gress will be called in session immedi-
ately by the president Mortifying
as it is to have a Democratic con-
gress confess its inability to frame
and pass a measure reforming our
legacy Of crazy-quilt currency, the
matter is too important and too
pressing to be delayed, and we be-
lieve that the president will sum-
mon the new congress to address
itself to the task. We believe he will,
and we are certain he should.
SOMETHING ABOUT MATCHES.
Next after the Standard oil trust
stands, in point of age, the Diamond
match trust. 1t rather eXcelS the
former in rapacity. It makes prices
on the Jay Gould plan of ''all the
traffic will bear" The tariff helps
them to make the traffic bear by a
tax of some 80 per cent on the prod
ucts of any competitor outside this
free and blessed country. Its board
Of directors met the other day and
figured up the years business. Cash,
plants and water, all told. make
capital of $9,O0O,O00 The regular
quarterly dividend of 2 IL per cent
on this was declared. AS this left
a surplus of 81 ,000 000 profits, they de-
cided to distribute this in an increase
of stock among the stockholders, so
that hereafter, and until the next
divide, the capitalization will fpe
$1O,0O0,OOO
The trust is maintaining the
american wage scale" and "help-
ing American labor hold up it's
dignity" incidentally letting labor
and the great American public earn it
10 per cent cash and II per cent stock
dividends. 1t employs in making
all the matches this unshackled peo-
pie use seventy men, whom it pays
$24, 400 in wages, or an average of
$348. 1t works Col females over fif-
teen years Of age, to whom it pays
in wages SOB, ,442, or an average of
$172 a year. 1t also works" twenty
children, who receive 81, $50 in wages,
or $3.50 year. 1t pays in wages in
all $129, AL. 1t uses material valued
by itself at $685., COS. In wages and
material it uses annually 81, ,G64, 449.
1t values the product at $2,193, ,6S8.
Taking out the wages and material
we see where the dividend comes
from. 1t leaves a margin Of 81 ,O29, ,1S9
to be thus distributed. Labor gets
a trifie over per cent of the value
of the product, and capital gets a
trif1e less than so per cent. We thus
SET dI lile precise amount OF the
dignity Of labor that makes matches,
the extent of its protection by our
benign government, and the modest
recompense of the philanthropists
who make the matches that light our
lamps and pipes, and kindly and
condescendingIy permit men and
women and children to labor for
them.
THE FINANCIAL MIDDLE,
Secretary Morton is one of those
whom study, experience and observa-
ton have taught the lesson that senti-
ment and law each have their proper
and useful places in the economy of
human affairs, but that their useful
ness depends entirely on each keep
ing its own place. When sentiment
takes the place of law, or the re-
verse, mischief inevitably ensues.
| He has said that he does not believe