The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-06-26

L. -. a. continue their business All tnat
~ ~ hsen said amounts pracuca'n " - -
thai The reiiners OF sugar Hle Sn''tN .t, ma,
snare OF protection. and that Is eNave ~, min
We charge We say tnat you tan ~, -tJri
w W. H. ,,..am w thout admitting 10 par w.
,a,tar IN ia advantages those Wno W ~ IL
need them, | am not willlns W una ne, 80 ia
high Mace that the republican party Ia" Snsar
~ ,,e" tnoteiIaet and conscience 10 inc Suhal
irs =, IA prefer TO believe that y mas
tsen driven by the logic OF It's position 70 tne
ossistance OF a monopoly Wnivn na9 So" A..
so bold under its special 9riviisses tnas ~
seandalizes congress ana Inc S'% renubcan party
ms, confess that II has sold ltseil 70 tue
sugar trust or 1t must admit that protee'''u
can not deny its benefits to monopoN. :, az
You can not claim that the ul ~ easnaa s,,gsr
cents on tho hundred pounds OF renhed SuEir
IL reouired TO make the sugar rehllns ou isi
ness profitable That 1t is not needed - sus
ceptible of easy demonstration. lne au'a ~
tage which your diner mere d6s neI while
sugar Trust exceeds A.U9,OOO anhualN. WHY !,
the reports of It's own officers snow tuat ~
declares diyidends equal to silI5.VVV per an ,a
num- and carries large sums 10 Us ~
fund each wear. Taking no accouhS 0 oa, 40 40
reserve fund and subtraetlng the sf,Vo,'Vt ~
which YOU give from the Snl@o'VVJ "hlch !.
declares in dividends. II shows an Sarnlus
Capacity of s. 900 without your aSai '"" .
which is at least 10 per cent on ny aS' ~
valne of its property And, sir although the
actual cash value Of the pronerty Owned SSd oSn pt
~ ts,ear ,rr,,ef does not exceed S2OOOOOJO. IL
has been capitalized at S15OO0 0QV, ana s acl
share OF its stock is today worth more yuan an
mar. It's capital stock Is divided into 50 .oOJoJO
~ nreferred stock, upon which there Is
guaranteed dividend of Z per cent anu so!.-
900, COO of common sSe2k, which has been pay
ing dividend of l2>per cent the common
stack is Of course absolutely worthless uhtll
the preferred stock is first paid IN tull; ana
although il Is perfectly well known 10 every
BODY who has taken the trouble 10 lnNesu'
rpte the question that the SS1 5OO,OOO or COM
mon stock represents nothing except con-
gressional favor, it is today worth 40. cents
on the dollar, while the COO, which rep
reseuts an actual investment nj nernapS SEV'-
COO. 900 Is worth only ll5 cents on the collar
With these facte staring them in the face the
republicans OF this house aud of the senate
have Increased the tribute which this odious
and powerful monopoly Is collecting from the
American people. Either the men who DO
these things are dishonest or the system which
compels the doing of them Is vicious:
have no patience with the narrow view winch
can mot explain the sugar schedule except
unon the score of the personal dishonesty or
republican senators and representatives ne
cause my eXncrience teaches me that as
honest man is rare In either branch OF con-
gross. NV deliberate Judgment is that the
Sugar Trust possesses its power over YOU not
because 1t buys your individual votes. but
because 1t is a part Of your system. and as II
helps to support YOUR system. your system
is compelled to help support IT. ana II is
certain that trusts will continue TO increase
in number and power as long as you continue
your policy OF protection. Men NAV perceive
their danger and cry out against them, but
these vast sggregatons Of capital will go on
destroying all individual and independent en-
terprise until their growth is arrested BY the
destruction Of the protective system which
has fostered them.