The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1897-07-20
knew It's cause had been triumphant at

Fools day was ushered in by an adj
vance in sugar of one-eighth of cent,
making the price SIS. Raw sugar was
being rushed in by the cargo free of
duty. The Dingley bill was sure to pass
Some fractional loss of profit had been
suffered by the big drop in price between
January let and February 10th. The
price at the last named date was still
left one-eighth of a cent lower than
what had been considered the normal
value under existing conditions and the
Wilson bill, in September of the previous
10th had put the price up to one-fourth of
a cent above the September rate and one
eighth above the November. AS COM
pared with September the increased pro-
fits of the March price would be $12,0 goo, 900
a year. This April Fool raise taxed the
people another $6,00OOO0, making the
whole burden $1S,0000 900. The Wilson
BILL as amended in the senate, had in
creased profits, already exorbitant, and
out of which the trust fattened.
But there developed a good deal of
hostile criticisms in the senate to this
program of wholesale public robbery.
The friends of the trusts saw they were
crowding the mourners little. Experts
had figured out what the results would
be, and the trusts demands were mod
erately discounted. On April 10th, there
20 &c
putting it back to the figures of March
10TH 1t meant loss to the trust of
$6,OO00OO, but they were still $12,0O0,0oO
to the good, and like wise men they were
content with two-thirds of loaf, and
we'll they might be. for it was large and
sweet. But further difficulties arose
At the end of another week so much
friction was encountered in the confer
ences between the trust lobby and the
trust ways and means committees which
met at the Arlington hotel that the trust
nearly lost heart entirely. The price
was dropped toss on April 2Sd, and here
we were back to the figures of November
18th, when only the election of the pres
ident had been sure. This Topped off
Sc, 000, 900 of ill-gotten gains, and there
was barely one-thirdl of the loaf to be
glad over.
But worse was to follow. Senator
White, Senator Vest and others had been
sharpening a little pencil and figuring
the cost of sugar at each step in the
process of its production and the enor-
nous profits to accrue to the trust were
beginning to be understood by every
body. The path OF these good men of
the trust, who were diligently seeking
for the wave of prosperity became be-
set by snares. On May 21st the price was
put down to 51a cents. Here, then, we
are back where we started in Septem-
Der when the Democrats held all branch
es of government and there was danger
of more of the same kind of thing, and
worse in quality to. come.
But the lobby in the parlors of the Ar
lington did not lose al! hope and courage,
and manfully stood by their guns, and
Senator Allison's assurance that the
Dingley bill was likely to do the sugar
reflners an absolute injury, while the
senate amendments even would not
bring the cost Of refining quite up to the
figure of the Wilson bill had bracing
effect on a few veteran senator's BY
June 18th the skies over the Arlingto
were so cloudless that little remedial
measure was ventured on, and the price
was put up to SIS cents. Here we are
once more a little bit consoled We
have the original Republican rate of
November 18th again in force, and there
is prospect of $4,000, 900 added profit to
make up for the expenses of the hardest
campaign ever fought in America.
The longest day of the year came and
went, and with it the longest contest
on sugar drew to a close. July broke
upon the world, and the wave of pros
perity began to be knee deep on the
Moquette carpets of the Arlington
Things looked so we'll in the senate that
The price was pushed up to 5A cents.
Ha! Hal There doomed up s12,O00,0 OC
extra profits per year. That is good as
| far as it goes, but it does not go far
enough. Another week slides by and
the bill slides through the senate and
goes to the conference committee, where
| it looks as if there would be but one
thought, How quickly can we get the
bill through? So Thursday, July Sth, up
goes the price to SIS again. This is the old
April Fools day rate. 1t is three-eighths
of a cent higher than the best to be
hoped for under the Wilson bill, and
gives those who bore the burden and heat
of the great campaign for prosperity q
chance to recoup themselves for theil
extraordinary expenses. If they can only
hold the market there it means SIS, 900 ,O0C
per annum to be paid by the people to
the trust over and above profits already
exorbitant. But that is no more than
right. Did not the trusts elect the pres
ident, and does not the administration
stand for prosperity? And shall not
those who made the majors calling and
election sure be the first and the nearest
to partake of the blessing of prosperity
Yesterday the sugar market again took
a gigantic bound, advancing from 12t
| to LA. The'sugar trust at all events has
certainly received it's goods from the