The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-09-18
THE NEW BRYAN BOGY.

The bogy OF Imperialism having made no
impression upon the people as a para
mount ISSUE" Mr.. Bryan, at st. Louis. de-
attempt to convince the country that the
general prosperity of the people is a myth.
Mr.. Bryan read a list of trusts which have
been formed since 1896. and said that they
are only samples. He stopped before he
reached the American Ice Company and the
Jones Cotton Compress Company, which
are in the list. The best answer that can
be made TO Mr.. BryaD's talk about trusts
is that the Republican party is no more re-
sponsible for them than is the Democratic
party. The next thing that can be said is
that many trusts are not prosperous. Mr..
Bryan named twenty-three trusts. and the
Democratic papers have been furnished
with a column of the names of such cor
Mr.. Bryan are listed in the New York
Stock Exchange. The values of these stocks
are rapidly declining, the latest quotations
of those listed being as follows: Steel and
Wire. 36A; Steel Hoop. 1872; Linseed Oil.
90; Plug Tobacco, 26; Federal Steel, 34h
common, and eshs preferred. These stocks
were put upon the market at par. The
only trust whose stock is above par is that
Of the sugar trust, which was formed in
1857. when Mr.. Cleveland was President.
While in Congress Mr.. Bryan, as a men,
Der of the ways and means committee,
signed the report submitting the Wilson
bill. which provided for free raw sugars
and imposed a duty of one-fifth of a cent
Leans I'm the House and a part of the DEM
ocrats defeated the schedule Of the COM
nittee. of which Mr.. Bryan was a member.
favoring the report. So, if Mr.. Bryan's
had had its way the sugar trust
would nave had a far better thing than it
has enjoyed. Why are the stocks of every
important trust in Mr.. Bryan's list far be-
low par? Simply because the properties do
not earn money to pay dividends.
II these trusts, or combinations of fac
tories. were the monopolies Mr.. Bryan says
they are-monopolies like the Tammany ice
trust and the Jones cotton compress trust
they could control the market and put
prices where they would pay dividends on
the stocks. If the combinations of plants
were earning money to pay dividends capt.
talists would tumble over each other TO
obtain some of them. When there is 10 per
cent. of the producing capital in any
branch of manufacture outside of the COM
bination a monopoly cannot be forced.
Mr.. Bryan quotes. from some book which
the public cannot reach. the prices of
wheat. corn and oats to prove that prices
have not advanced under the Mckinley adj
ministration. Why did he not go to the
open quotations of the newspapers. which
everybody could consult? Because the
public could learn that he does not deal
with facts. The fact is that prices were
at the lowest level four years ago. when
Mr.. Bryan was going about the country
preaching Is to 1 as the only hope of the
people. The comparison to make is Sep
tember. 1896, and September. 1900. Such a
comparison was made by the Noblesville
Ledger two or three weeks since, the prices
being those paid by dealers in that city,
which. for Sept. 1, 1896 and 1900, were as
follows: