The Republican journal. [volume] (Belfast, Me.) 1829-current, 1897-07-29
Our Washington Letter.
Correspondence of The Journal.

tors have been reduced to the single sub
ject for an attack upon the tariff bill, of
its relation to the sugar trust, it is well
enough to state some plain facts bearing
upon this subject.
The bill, as a whole, is probably more
satisfactory to the people than any tariff
measure which has passed Congress in the
recollection of the present generation, and
the features of it relating to the sugar
schedule will be found. when thoroughly
understood, as satisfactory as its most
highly commended features.
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 the
trust much of the advantage which it had
under the Wilson law.
Stripped of all technicalities, the cold
facts are that as the bill left the House the
rates on refined sugar were II - cents
per hundred pounds greater than the
rates on raw sugar. OF course, the rates
on different grades of raw sugar were diff
ferent, but taking the number of pounds
of any grade which were required to
make hundred pounds of refined sugar
it was found that the rates were on an
average of II 1-2 cents per hundred
pounds less than those on refined sugar.
This means that the sugar refiners of the
country, whether in the trust or out of it,
were allowed a difference of II 1-2 cents
per hundred pounds, or is of cent a
pound, difference between raw sugar
when imported and refined sugar when
| imported, thus giving them an opportunity
to import raw sugar at is of a cent a
pound less than the rates at which refined
sugar can be imported. 1t is generally
conceded that the cost of refining sugar is
not less than about Is Of a cent a pound
so that the rates really given to the sugar
refiners are simply the bare difference be-
tween refined and unretined sugars of the
cost of refining.
1t is we'll known that the rates adopted
by the Senate were more advantageous to
the sugar retiners, but it is fact that the
rates agreed upon by the conferees made
precisely the same difference between raw
and refined sugars that the House bill
made when it was passed by that body
| The conference report did increase the
rates on refined sugar slightly, but it also
increased the rates on raw sugar, thus
making the difference in the rate of duty
between raw and refined, or the ''differen-
tial," as it is called, precisely what the
House bill made it originally, u ID cents
per hundred pounds, or is of cent a
pound.
But, says the objector if the conference
report gave to the sugar trust no advan-
taSe, why was it that sugar trust stock adj
vanced during the time that the bill was in
consideration by the conferees and after it
was presented to the public?
The answer to this is simple enough. The
sugar trust knowing that the new bill
would certainly advance the rate of duty
on sugars as a protection to American pro-
ducers, has been bringing into the country
as rapidly as possible sugar in enormous
quantities, getting it in, of course, under the
comparatively low rates of the Wilson
and had in stock by the time the confer
ence report was presented to the public
over 700 thousand tons of raw sugar or.
in round numbers, 1900, 600, 600 pounds.
Think of it. Enough sugar to load seventy
thousand cars, or to load three thousand
five hundred freight trains of twenty cars
each, or to make one continuous train
over fifty miles in length. On every
pound OF this sugar which it had in stock
1t was perfectly apparent that it would
make whatever profit there was between
the tariff rates of the Wilson Jaw and the
increased tariff rates of the Dingley law,
or an aggregate profit calculated at l.
million dollars.
Is it surprising that sugar stock went up
in view of the fact that this organization
would make upon the sugar which it had
brought into the country II million dol
lars by the mere advance which the franz
ers of this bill have found it necessary to
make in tariff rates in order to protect the
sugar producers of the United States and
bring revenue to the Government?
But, the objector will say, everybody
familiar with this subject knew that the
sugar trust had all this sugar in stock, and
since this fact was we'll known this does
not account for the sudden rise in sugar
trust stock which followed the sudden an
nouncement of the agreement of the con-
ference committee.
This is true, but the explanation of the
sudden advance, which was caused by the
profit thus assured to the sugar trust
through tAe enormous stock on hand, is
found in the fact that Secretary Gage had
recommended to Congress the placing of an
internal revenue tax of one cent per pound
on all unrefned sugar in the United States
when the new tariff law should 90 into
effect, the object being to compel the