The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-20
RGEST CIRCULATION OF AMY NORTH CAROL

the present admlnlStra ton TO collect ana
retire the greebacks, its bill would
have resulted in deficiency.
Have the industries of the United
States suffered under the present law
from foreign competition? 1t is only
necessary for us to examine the treasury
reports to find our answer. AS remarkable
as it may appear after all that our Re
publican friends have said, the treasury
reports show that instead Of foreign COM
petition increa sing under the present law
it has actually decreased as compared
with the Mckinley law.
Another more practical but less potent
reason why the Republican party cannot
undertake in earnest to suppress these
hurtful combinations of capital is that
it's vast and complicated scheme of taxa
ton for private purposes is maintained by
the active and financial support of those
who have personal and business connec-
tons with these trusts; and as you rely
upon the votes, the influence and the
campaign subscriptions of trusts, it is
unrea sonable to suppose that you Will
deny them a participation in the profits
of system which they have helped to
fasten upon the country. We have suf-
ficient and abundant proof of this fact
in the pending bill, which gives to the
sugar trust n pure gratuity which eX-
perts estimate at not less than S4 ,000,-
900 annually.
II am not willing to charge in this
high place that the Republican party
has sold its intellect and conscience to
the sugar trust, and | prefer to believe
that it has been driven by the logic of
its position to the assistance of mono
poly which has grown so bold under its
special privileges that it scandalizes
Congress and defes the power of the
courts. But, sir, the Republican party
must confess that it has sold itself to
the sugar trust or it must admit that
protection cannot deny its benefits to
monopoly"
Mr.. Bailey reviewed the sugar schedule
at length and scored the sugar trust, ad-
ding: my deliberate judgment is that
the sugar trust possesses its power over
you, not because it buys your individual
votes-but because it is a part of your
system, and as it helps to support your
system, your system is compelled to help
support it; and it is certain that trusts
will continue to increase in number and
power as long as you continue your policy
of protection.
Eve stand upon the broad and unas-
saiable ground that taxation can only
he justified when it is levied for the
purpose of supporting the government,
and that all taxation which is designed
to enable one class to collect tribute from
other classes is a legalized robbery.
Il am aware, sir, that there are some
who pretend to believe that an atterance
like this is not in harmony with the plat
| form of our last national convention;
but there is nothing in the language of
that platform or in the circumstances
attending its adoption to warrant that
opinion.
Il am opposed to Republican protection
because it discriminates between Ameri-
can citizens, giving to the one who sells
an unjust advantage over the one who
buys; and ] am opposed to this modern
| theory of free raw materials because ii
| discrminates between American cih-
zens, giving to the one who buys an I'M
| just advantage over the one who sells.
II do net pleadsfor special privileges
| for the farmers; | only plead in defense
| of the Democratic party for having said
that in dealing with this question it will
keep its pledge that none shall enjoy
a special favor nor shall any suffer a
special burden; but that all shall stand
equal before the law. To establish and
maintain the equal rights of men was
the great mission to which it founders
dedicated the Democratic party q hun
bred years ago, and to which we recon
secrated it last year. If we adhere
steadfastly and faithfully to this, The
most vital of all our principles, the
American people will reward our fidelity
with their confidence, and we can reward
their confidence by perpetuating forever
and forever more this, the creates gov
eminent that ever rose to animate tn,
hopes or to bless the sacrifices of man
kind"