Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1897-08-13
WASTHEIR LASTSHOT
DEMOCRATS HowLEp AT RISE IN
SUGAR STOCK.
Claimed 1t Was Due to the Great Ad.
vantage Given the Trusts by the Con.
ference Rcport-The True Cause of
the Advancc.
Due to 1mportations.

Due to 1mportntiOns.
Special Washington correspondence:
The Democrats in the House and
Senate shouted themselves hoarse
when sugar stock went up by leaps and
bounds Immediately following the ac-
tion of the conference committee ON
the sugar schedule. They claimed that
the cOnferees' action gave to the sugar
trust all the advantage it asked and to
casual observer and one unfamiliar
with the facts this might seem the case.
But IL little study of the situation shows
the true cause of the advance, and not
to be in any way attributed to any ad-
vantage given to the trust by the ac-
ton of the conference committees; on
the contrary, the trust had IL genuine
setback from the advantages At has
been enjoying under the Wilson law.
That sugar trust stock advanced as
it became apparent that the tariff hill
WAS approaching completion is undc
niablc. That it did advance with leaps
and bounds when the action of the
confcrees became known is equally
true.
Now what is the cause: Does the
bill give the trust amy secret and mys-
tcrious advantages of which the public
does not know in detail? Are Chair
man Dingley, Representative Payne,
Senator Allison and others mistaken
when they say that it does not? The
people will not believe that these men.
i'll whose long public career there has
been no suspicion of dishonesty, are
wilfully and knowingly misstating the
facts or making assertions that arc not
based upon facts, or at least what they
believe to be facts.
These men assert that the tariff rates
of the bill give the rctiners no more
protection than the actual cost of retin-
ing. viz, Is of IL cent per pound. No
body who knows the men making this
assertion will believe that they are
stating other than what they believe to
be the truth. The question then is as
to whether they are mistakcn-wllatli-
cr, TO use the term of the day-they
have been 'buncoed" by the sugar
trust or by the experts upon whom
they have to rely for their information.
III not, is there any other cause which
would legitimately result in the ad-
vance in sugar trust stock as has been
the case?
1t was generally conceded when the
bill passed the House that it was not
in any Way advantageous to the trust,
but that. on the contrary, it took away
from it the advantages which it had
under the Wilson law. AS the bill left
the House the rates Oh refined sugar
were 121a cents per hundred pounds
higher than the rates on raw sugar. OF
course the rates on different grades of
raw sugar are different; but taking
the number of pounds of amy grade
| which were required to make IL
| hundred pounds OF refined sugar
| it was found that the rates were
ON an average of 12l. cents per hum
| ,!rcd pounds less than those OH refined
| sugar. This means that the sugar re-
| tincrs of the country, whether in the
| trust or out of it. were allowed IL differ
ence of 1919 cents per hundred pounds,
| or Is of 1: cent per pound difference be-
tween raw sugar when imported and
refined sugar when imported, thus Civ
ins them an opportunity to import raw
sugar at * of cent a pound less than
the rates Mt which refined sugar can
be imported. Since it is generally con-
ceded that the cost of refining sugar is
not less than about 1s of cent a
pound. III is apparent that the rates real
ly given 10 the sugar refiners are SIM
ply the bare difference between refined
l .
1ining.
While the rates adopted by the Scn-
ate were undoubtedly more advan-
tageous to the sugar retiners. those
finally agreed upon l,E the conferees
made precisely the same difference be-
tween raw and refined sugars that the
House bill made when it was passed
by .hat body. The conference repor.
did increase the rates on refined suga,
slightly, but it also increased the rates;
OH raw sugar, thus making the differ
encc in the rate of duty between raw
and refined, or the 'diffcrental." as 1t
is called. precisely what the House bill
male it originally.
If, however, the conference report
| ICslllS s,dlNC lltC AO StltNitll-
tagc, why was it that Sugar Trust
stock advanced during the time that
tile hill was in consideration by the
conferces and after it was made pub
lie? This is pertinent and proper
question.
The answer to this is simple enough
Tie Sugar Trust. knowing that til.
new bill would certainly advance TIL.
rate of duty on sugar as IL protection
to American producers. has been bring
ing into the country as rapidly as pos
siblc sugar in enormous quantities. get
ting it in of course under the compar
ativcly low rates of the Wilson law
1t has secured the world for sugar and
had i'll stock by the time the conference
report was presented to the public Over
100000 tons of raw sugar, or. in round
numbers. 100000, 900 pounds. Enough
sugar with which to load 10000 cars
or $500 freight trains of twenty ears