Daily capital journal. (Salem, Or.) 1896-1899, 1899-06-24


produced before the ways and means
committee, Of which Mr.. Dingley was
chairman, brought out the fact that
sugar in modern refinery, with the
best machinery, we'll located, can be
refined at cost of about quarter of a
cent per pound. We therefore find that
sugar refining under these conditions is
receiving a.protection.of not 80. but
90 per cent al valorem, based on the
cost of refining sugar. The protection
granted the sugar producers who max
the article Of sugar itself, is 80 per cent
on the cost of raw sugar today, or iden t.
ical with the protection granted the
sugar-refining companies"
Mr.. Oxnard declares that American
sugar-producers would suffer and the
development of the beet sugar industry
be retarded by the admission of raw
sugar free Of duty. He adds.
There is no trust among the sugar
producers of this country and there
never can be, for the simple reason that
the beet-sugar industry can be started
in almost any part OF the Union"
In conclusion he says: al will not dis
pute Mr.. Havemeyer's claim that 10 per
cent is sufficient protection TO the sugar
refining interests which he represents,
but do assert that he cannot make the
American people believe that the
industries OF this country and
business prospered during the years We
were struggling under the Wilson law
when the average protection amounted
20 10 per cent ad valorem. II Mr.. Have.
meyer had said that keen and losing
competitor in business led TO the forma-
tion of trusts he would be right, for
tariff has nothing to do with the forma-
tion Of trust"
Henry Blair, United States senator
from New Hampshire, said in an inter
view last night: TRUSTS are evidently
TO be the leading industrial issue, il not
the controlling issue in the next cam.
paign. AS an industrial issue, the trust
question must be the principal one be.
fore the country. Its relative import.
ance as a campaign issue with expan,
sion or so-called imperialism is moi
easy TO anticipate. believe the next
presidential campaign will turn upon
the industrial issue.
"The most Objectionable trusts origi
nate in the efforts Of the owners of un.
profitable plants to save themselves by
combination with others. Trusts exist
in free trade countries, and the prin
r cipal trusts in America are not depend
, ent upon protection for their existenc,
or growth.
"The great abuse connected will
trusts seems 10 me 10 be the fact tina
I they seek TO destroy competition
,. 10y combination OF unprofit
} able plants, which they design 10 clos
!. up enthusiastically destroy, with thos
i which are retained for active productio
+ and guarantee returns upon this idl
= capital. To obtain the money 10 pa
4 this they must unduly tax the con
1 munity in prices unnaturally high.
j. Combinations OF this escription ar
:, against public policy. II conveyance
I. which have been made are valid becaus
:. there is no law against them, certainl
r new laws could be enacted which woul
\ declare such future conveyances illegi
and void as initio, believe that th
evil would cease. Such legislatio
would not interfere with legitimate il
vestment and the employment Of gres
Masses OF capital in productive ente
j. prises.
& "It is the business Of the Republica
I party 70 investigate and deal with tn
2 new aspect of our business and ma
= tional affairs and find the true solution
More and more the trusts will own n
: capital which does the business Of III
world, and all the machinery, which
but another form Of capital. lneyi
ably, then, they will seek the cheal
est labor, for capital and machinery al
in their nature portable and will (
where the cheaper labor H.