The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1897-07-29
That Sugar Schedule.

the tariff law by the highest authorities
in Washington and New York shows
the falsity of the statements which such
papers as the Milwaukee Journal have
been parading that the bill is advan-
tageous to the sugar trust, and espec-
tally shows the falsity of the charge
that it is more advantageous to the re-
finers than the Wilson law. The bill,
as framed by the house, made the rate
on refined sugar 10y cents per 100
pounds, or ! of cent per pound great
er than the average rate on unrefned
sugar Since It is asserted that sugar
cannot be refined for less than ! of a
cent per pound. this difference, or
differential" as it is termed, was
deemed fair and not in any way ad
vantageous to the trust. The senate
increased the differential by reducing
the rates on raw sugar, and this action
was criticised as giving the sugar re-
fners, whether in or out of the trust,
an advantage. The house was deter
mined that congress should not rest
under the suspicion of having given to
the sugar trust any advantage, and in
sisted upon the return to the rate
which gave a diferential" of only III
cents per hundred pounds. The senate
conferees urged that an additional pro-
lection be given to the beet sugar
growers, and as a result the rates we're
advanced by the conference committee,
but in manner which left the diff
ferential" precisely that named by the
house bill, i. e., III cents per hundred
pounds. This is generally conceded to
be no more than the actual cost of re-
fning, and does not therefore give the
sugar trust any advantage The fact
that sugar trust stock advanced Incl
dentally when the action Of the con-
ferees became known has led to the
charge that the action of the committee
was in some way advantageous to the
trust. The explanation of this adj
vance, however, lies in an entirely diff
ferent direction. The sugar trust had
imported during the past few months
over 700, 900 tons of raw sugar, know
ing that the amount of increase in tar
| if rates of the new bill would enable
them to realize an enormous profit.
The fact that the trust had this enOr-
nous amount on hand and would prob
ably make profit on it caused the
stock to advance from time to time. for
it was known that the profit which the
trust would make upon this speculation
would figure in the neighbOrhoOd of
$50, 100000. But a. shadow was cast
upon this question of an enormous
profit by the fact that Secretary Gage
had recommended to congress that an
! internal revenue tax of l cent per
pound be placed on all unrefned sugar
in the country at the time of the en-
actment of the law, and it was not un
| til those who were watching this sub
ject were convinced by the report of
the conference committee that this in
ternal revenue tax would not be i'm
posed upon the sugar in hand that they
| became assured of the enormous profits
which the trust would make upon it's
stock Of sugar thus accumulated. When
| they were assured of this fact it was
apparent that the dividends which the
trust would be able to pay in the ensu-
| ing year by reason of the advance in
the 100000 tons of sugar which they
| held would be enormous, and the value
of. it's stock correspondence advanced.
1t was this fact, and this only, which
caused the advance in the stock of the
sugar trust during the closing days of
| the consideration of the bill. Every
| body familiar with the subject knows
to certainty that the bill cuts off the
special advantages which the trust had
under the Wilson law, and nobody
should be fooled by the claim of the
Journal that the advance in stocks of
the trust was an evidence that the new
law is advantageous to the trust. 1t
gives to the refiners barely the differ
ence between raw sugar and refined
sugar, or the actual cost of refining,
and nothing more, and that, it is con-
coded, is justice.