Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1896-10-16
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surplus from abroad. Mr.. Mckinley
acknowledges that when he says tina
wool is now worth fourteen cents wher,
it was worth thirty. He told us few
years ago that the foreigner paid the
tariff; but it looks to me that il we
had tariff on wool and it would in
crease the wool to thirty cents pound
and | bought that wool, that l would
pay the tariff when l bought The
product at thirty cents instead o
fifteen cents pound. So you see on
any commodity that we have to buy q
surplus of, the tariff becomes q tax
Take that class of products in thi,
country of which we have an abundance
of raw material undeveloped and if the
product is high, put on protectiv,
tariff and the price will come down by
competi tion-until such times as the
trusts, combinations and monopolie,
combine and raise the price or keeT
up the price in spite OF competition
(Applause.) The tariff on that COM
modify of which we have an abundance
of raw material will develop home in
dustry and by the development o.
home industry it will cheaper the
price of it until such times as trusts
and combinations prevent competi.
ton.
If we had an Attorney General in
the United States that was not cor.
poration and trust lawyer and who
would abide by the laws OF the country
and enforce the laws against these
trusts and combinations and corpora
tions, the trusts would be broken. We
want an enforcement Of the la,ps that ioe
hare more than we want new laws.
We are living in reign of anarchy.
The Attorney General of the United
States does not enforce the laws
against trusts or corporations, yet these
are the gentlemen who shout anarchy.
Now, referring to the subject Of cor
porations, 1 want to say that l have
had some experience with them. am
not talking of what have read in the
different papers. l was private secre-
tary to the President of railroad con-
struction company and / may say
right now that have associated with
every class of men engaged in corpo.
rations, from the day laborer to the
President who lives in the gilded pal
aces of Wall street. have met them
all. There is not very much difference
between one man and another. l
found as much principle and as much
education and a thousand fold more
humanity in the laboring classes than
I ever found in the palaces Of the rich.
Corporations are a good thing. l be-
lieve in laws that are fair to the cor
porations and fair to the people. |
believe in the enforcement of the law
and / believe in the prosecution and
enforcement of the law against grand
larceny as we'll as against petty lar
ceny. Now just let me give you a lit.
tie experience l bad down in the State
Of Idaho.
was interested in irrigation bus
mess and organized canal company
to complete canal partly constructed.
| went to New York and interested
investors. / needed but about $685.
600 to make it success. l proposed
to bond for $4,000 and sell bonds at
80 cents on the dollar. But l could
get no offex unless l would bond for
$500, 900, sell $1,000 in bonds at Is
cents, and pocket 100000 as profit. l
figured up the result and the farmers
under that canal would have to pay
off those bonds by paying water rents,
would in 20 years pay, besides the &C.
tual amount invested, in interest upon
these watered bonds and the principal,
$40, 900 on $40 per acre tribute to
Shylock and his agents.
Nearly all the enterprises that have
been carried out in this western coun-
try have been upon that came plan.
Many of the railroads in this country
are bonded for twice what they cost.
Who pays the interest on the bonds?
The farmer, who raises the products
and ships it to market pays it in
freight rates, and aoho gets the benefit OF
it? These patriotic fellows who are
talking about sound money to-day
living in gilded palaces. who call you
anarchist because you won't let them
rob you longer. (Applause.) That is
what they call Observation-Disclosures
they see more in the election of William,
j. Bryan than merely free coinage.
(Applause.) With Bryan for President
We will have no more issuing bonds in
times OF peace. We don't want the
Nicaragua canal built by the Republi-
can party as they built the Union Pa
cific and Central Pacific railroads, by
which they furnished money enough
to build the roads, loaned it to Hunt.
ington and his accociates, and not q
dollar of interest or principle have
ever been paid, the contract being sc
constructed that the government could
not collect the interest till the whole
debt was due, and now if the Repub
lican party is successful the debt viii
be funded at per cent. for fifty years
more. Here is what Bryan says of til.
funding bill:
"The government cannot afford t.
discriminate between its debtors ant
must, therefore, prosecute its lega
claims against the Pacific roads. Such
policy is necessary for the protection o
the rights of the patrons as well as TO
the interests of the government"
They also gave land enough to maxi
an empire in extent. May God pre-
vent them from ever carrying out an
other enterprise like that.