The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-06-15
TARIFF is MOTHER OF TRUSTS.
HAVEMEYER SAYS THERE is TOO
MUCH LEGISLATION.

= hNDntEAF-ShPiAAA anu Ia
bOr should BE Left AIOne-The
Price for business Reasons, Not
Philanthropy.
Washington, June H,-Mr. Henry o.
Havemeyer, president of the American .Su-
gar Refining Company was examined by
the industrial commission to-day in cons
nection with its investigation of trusts.
His testimony related almost wholly to
the sugar industry and he opened with
a vigorous attack upon the customs tariff,
which, he declared was the mother of
all trusts" becoming such by providing
IAN inordinate protection TO manufactur-
ed articles"
Continuing his statement, he asserted
that a tariff Of 10 per cent was az high
as any tariff should be. He contended
that sugar Is Disseminated against In tho
tariff in the interest of the Louisiana cane
growers, the beet sugar makers and sugar
growers of the Hawaiian Islands. To
these interests. he contended the United
States contributed $2i,O0o,O00 which was
taken annually out Of the pockets Of tho
people. The protection on sugar amounts
ed to only one-eighth of a cent pound.
or about S12 per cent. ad valorem. It
ought to be twice as much.
what the sugar refining business has
paul OF - pdglHkt represents HotnlI&
more than an adequate return on the caps
ltal invested" he said.
Wants Revenue Tax.
"What Congress should have done was
to have put an internal revenue tax on
the American production Of sugar. The
representations made in Congress con-
cernlng the trust" he declared, were un-
true, and II Il was fact that the people
suffered from trusts they must blame the
Af uTbta thea
trusts We're merely the machinery. No
advantage had ever been taken by his
company OF the protective system beyond
the one-elghth of a cent given
lie idmtted freely that the company
did all possible 70 advance It's own busi-
ness interests lie did not think the cor
porations were under obligations 10 the
different states. but that the reverse was
lrue.
Capital and labor" he stated, would
adjust themselves II left alone"
The only way to prevent competitions
MIR. Havemeyer testified, was 90 Keep
prices at a minlmum-not necessarily in
the interest of the consumer. but as a
matter Of business.
lie referred to the antitrust laws OF
some Of the states as a premium on dis
honesty, specifying the Missouri law.
There were always two classes Of people
in a COMMUNICATIVE Industrious and thosa
who wanted 10 live of them
Value of the Property.
Replying TO questions by Prof. jerks nf-
| ter he had concluded the reading of his
| paper, Mr.. Havemeyer said the American
company was capitalized for much less
than II was worth.
but for the ciamor against trusts" he
| said, '1t could be sold for three times its
Yet, he thought the refineries could be
duplicated tor $35, coo 900 or N0,O00000.
The present capacity of The trust Is, he
said, $4,000 barrels a day and the output
$1,000. He thought the trust was refining
about 50 per cent of the sugar refined in
The witness spoke very freely OF the
methods Of the company IN preserving and
extending us business IN me earller, his
tory of the enterprise he said he did not
hght the Harrison refinery at Philadei-
phia.
came into the field with his enormous
plant We had to do that or suspend our
dividends. We went into the fight and We
kept IL up until We got the refinery"
The last drop in the price of sugar had
been caused by the starting, Of new refin-
cries which had threatened to take fifty
per cent OF the business.
Policy 10 Put Down Prices.
1T was a part of our policy to put prices
down and let the opposition take the
result, whatever IL may be. Every sale
made by the opposition displays so much
ness"
Mr.. Havemeyer then went on TO say
that what the company did II did not do
for motives Of philantnropy-that IL had
It's own shareholders TO protect
AHBDOdg can Duy our StOEky ne CDH-
| tnued ''and as q consequence the public
| owns the stock. But | doubt whether any
one would want any Of the stock of the
| independent rcfineries'
"How many stockholders have you2a
asked Prof. Jenks.
About 1i,OOO" he replied. and added:
Enough TO take Cuba, and they would
| take il if they could"
The latter remark was made In light
| vein. lie stated as his opinion that the
Cuban sugar should be brought in free OF
duty, and that this course would bring
| refined sugar down to cents a pound.
In Coffee Business 10 Stay.
Speaking OF the coffee business Mr..
| Havemeyer said he was in the business
Mr.. Havemeyer's statement aroused
great interest, and the next three hours
| him in rapid succession by memDers OF
| the commission He al first declined to
| state whether the company was making
| money at present. saying that was tho
| business Of the company alone. but he
afterwards made an incidental statemenC
| which the commission construed into an
admission that the business was not
The witness confessed that his cotnpany
| had very little regard for the welfare OF
| rivals In business saying that prestige,
| ability, experience and wealth would vim
| in the long run in the struggle, and that
| trusts were an example Of the survival
| Of the httest in business
THAT is trade" he said "and the soon-
| er you realize it and quit trying to control
/
A man cannot expect 70 continually have
| himself wet-nursed by the government.
| If men do not want 70 buy our stocks they
need not They do not need goyernmept
protection. II they wade In and get
| stuck, let them get out and, II they wishs
| wade In again. The fate OF rival concerns
| Is their affair, not ours
business, Not Ethics.
Speaking OF the ethics of life," sug-
| gested by a member Of the commission,
Mr. Havemeyer said: Il do not care two
cents for your ethics. ! know something
about them. l am talking about busi-
ness"
He declared that the tariff enabled the
| steel trust TO mulct the public TO the ex-
| cent OF 50 per ton, and said, incidentally,
| that Mr. Carnegie had not yet stated what
| he was going to do with his money.
on the question of labor, Mr.. Have
meyer said the laboring element were
| forced 10 form organizations, but that In
| doing so they sacrificed much independ-
ence, and the unions had the effect OF
'sbringing other men down 20 low level
He contended that he was friend OF
labor and said that good men in the en-
,11 Of ha ppr