The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1899-09-09
WHO IS IT'S MoTHERa
Henry O. Hnvemeyer'r Assertion RE-
gnrding Tariffs md Trusts Pro-
duces Results Not Contemplated.


duces Results Not Contemplated.
Mr.. Henry O. Hayemeyer's intemper-
ate declaration that "The mother OF all
trusts is the custom tariff" has been
so completely disproved since the dec
laration was made that il is unlikely
that even Mr.. Hayemeyer would ven
trre to repeat il even IL he should be
provoked 10 make a retort discourteous
by criticisms OF the sugar trust and it's
methods.
The customs tariff is not the mother
of all trusts; neither is il the mother OF
any trust, in the sense Of fostering such
combinations. or indeed in any sense
whatever. The genesis of trusts is
greed. Greed was the origin of the
most gigantic trust ever formed in this
country, the Standard Oil trust. The
sugar trust had precisely the same in-
ception. and Mr.. Hayemeyer and his as
sociates. instead OF devising an entirely
original plan. copied closely the same
methods which were pursued by the
Standard Oil trust when that combine
ton was organized five years pre-
viously.
No one will pretend that the customs
tariff was the mother of the Standard
Oil trust. and IL would be equally alb
suyd 10 claim like maternity for the
sugar trust. The success of the sugar
trust was chiefly promoted by excessive
overcapitalization. Twenty sugar re-
iineries, with capacity sufficient for
meeting the requirements of the trade
and having a combined capital of not
exceeding $10,000,000, were united UNI
der the sugar trust, which was organ
lied with a capital of $4,000. OO0--an in
lection OF $40.000000 Cf water into the
combination. This water was, il may be
noted, manifestly nece ssary in order TO
conceal the enormous profits of sugar
refining. as the water in jected into the
Standard Oil trust was necessary for
the concealment of the profits of oil re-
fining.
With the S40,OOO,000 of water as the
nucleus of $25,O00,0O0 mare OF water.
which was subsequently Injected when
the capital was increased To $75.O00,000.
the sugar trust Immediately became
formidable. so formidable, indeed, that.
SO far from soliciting tariff legislation
by congress. the managers assumed
position of offensive dctation which has
since been maintained. This position of
defiance and hostility shows clearly
that the sugar trust acknowledges no
debt OF gratitude for favors past and
has no hope of favors to come. IL Is in
conceivable that II the managers OF the
sugar trust felt that they were in the
least degree dependent upon or indebt-
ed 10 the customs tariff, either for the
inception or the future operations OF
the trust they would imperil their in
terests by the offensive stand taken by
Mr.. TIavemeyer but would, on the con-
trary, be humbly submissiye-an atti-
tude, il may he observed, which has
never for n moment been assumed.
The customs tariff has not been I'm
the least degree essential 20 the success
OF the sugar trust. The operations OF
this combination have been conducted
i'm such a way that under all tariff con-
ditions sugar refining has been inn
mensely profitable. The industry has
prospered under the Mckinley tariff.
under the Wilson-Gorman free trade
tariff and under the Dingley tariff. and
the degree of prosperity which the
sugar trust has enjoyed does not seem
to have been perceptibly changed by
! the operation OF either free trade or pro-
tectvc tariffs. Mr.. Havcmeyer and
his associates are evidently Indifferent
10 tariff legislation.
The Indictment of the sugar trust
before the bar of public opinion and the
arrogant and offensive manner OF the
| trust whenever il has been called upon
from time 10 time TO plead TO the in
dictment have done much 10 bring into
prominence the sugar trust MS the chief
among the injurious monopolies of the
nineteenth century. lrritated by this
accusation, Mr.. Havemeyer retorted
with the incorporate and unfounded
assertion regarding tariffs and trusts.
The assertion instantly claimed the at
tcntion OF the country MS one TO be
classed rs important IL true" and
doubly important IL not true. Events
tend 10 show that it's lack OF truth con
stitutcs its chief claim 10 Importance.
II Is curious illustration OF the adage
about n lie travelling faster than the
truth. with the additional popularity
that the lie has served the very useful
purpose of bringing ont the truth in tho
clearest and most unmistnkable light.
Thus II falls out that Mr.. Havemeyer
did not lose his temper and his head
wholly In vain.
/
/ Higher Wages for 5000.
As % result OF the final conference ne