The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-06-19
THE INTELLIGENCER.
WHEELING, JUNE 10, 1900.
The Tariff and Trusts.

The testimony OF President Havemey-
er. Of the sugar trust, before the indus
trial commission in Washington, on the
subject of trusts, has created consider
able comment by reason of Mr.. Have
meyers assertions as to the RESPONSE
bility for trusts and some absurd points
he made that are dlsproved by the his
tory of the two greatest trusts in Amer
lea, including the one he represents.
i The distinguished witness gave some
logical explanations, from his own
standpoint, of what combinations are
that Is. those that are strictly legiti-
mate. For Instance. he declared they
ARE the instruments for uniting the In
terests of 4 large number OF persons of
small means into II large aggregation Of
4 capital" He said that an attack on
these trusts is an attack on the stock
holders who. as u rule, are men of mod
crate means.
Perhaps, had Mr.. Havemeyer stopped
here he would not have rendered him
self liable to the amount Of criticism
that is being INDUCED In. But he did
not do that. He departed from the main
question long enough to consider the
political phase OF the trust question. He
declared that "the mother of all trusts
is the customs tariff. The existing bill
and the preceding one (the Wilson Billy
have been the occasion of the formation
Z of all the large trusts, with very few
exceptions. inasmuch as they provide
for an inordinate protection to all the
interests of the country. sugar refining
excepted"
Here is where President Havemeyer
made his break which is almost funny
enough to place him In ridiculous
light before the country. It has afford
ed some newspapers and public men an
opportunity to call attention to the fact
that the two greatest trusts In America
are not affected at all by the tariff. The
New York Sun briefly states the truth
when 1t says. concerning the above re-
(. marks by the sugar king: 1.-The great
est Of all trusts. the Standard OIL trust.
and MIR. Havemeyer's own company.
the Sugar trust two capitalstic piles so
colossal that they tower above all 9TH
ers of their class, are not built upon
the tariff at all. Oil is on the free list.
with provision for retaliatory duty
upon oil from countries that tax oil i'm
ported from this country. Refined sugar
has duty of only about three and a
half cents al valorem, rate so low
that, Mr.. Havemeyer declares, sugar
refining is outside Of the protected in
dustrias."
These things being true. the two
greatest trusts-those that have been
more strongly denounced for their
methods than all other trusts-are liv-
ing evidences of the untruthfuness Of
President Havemeyer's point. The Sun
is right, and agrees with the majority
of our practical minded business men.
legal and economic authorities, when
1t declares that THE philosophy Of
trusts goes below the tariff Trusts
exist in other countries that have not
protective duties. The remedy for them
is not in tariff legislation. Those that
work evil with fictitious stocks that eN-
list only on paper will bring their own
destruction, and. In the meantime, wise
business consideration and discussion
should develop n proper solution OF the
general question. DemagoSic politics
and crazy financial theories will never
fIo II W. -r,.-