Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1900-01-04
TRUSTS AND THE TARIFF.
Falsity of the Claim that Protection
Promotes Higher Prices.

Fa1sity of the Claim that Protection.
Promotes Higher Prices.
1t may be worth while to notice two
points made by Mr.. Bryan in his
speech in Chicago denouncing home
trusts. Mr. Bryan said:
IF an article can be produced in
this country as cheaply as it can be
produced abroad, then the trust could
exist without the benefit of any tariff
at all, although it could not extort so
much. No one can dispute that tar
if law, an impost duty, enables trust
| to charge for it's product the price of
a similar foreign product, plus the tar
| if"
The/price of foreign cotton ties be-
| fore the Mckinley bill became law
was 81 IL bundle The duty imposed
| by this law was 81 O3 bundle and the
price of the American cotton ties, while
| the tariff was in force, was 90 cents
and then S5 cents a bundle. There was
no extortion whatever, because the
| price was % per cent lower under the
| law than it was before the tariff of
| $1.O3 q bundle was imposed on foreign
| cotton ties. If Mr.. Bryan's assertion
| that mo one can deny that tariff
| law, an impost duty, enables trust to
| charge for its product the price of
! similar foreign product, plus the tar
| iff,'' was true, the price Of the Ameri-
| can cotton ties would have advanced
| to $215 a bundle. The Mckinley law
| was repealed by the Democratic Will
| SON German law, the tariff of $1.O3
| bundle taken off and cotton ties left
| free of duty. What was the result!
| A trust las organized and the price OF
| cotton ties was advanced to $1.25 ana
| then $1.40 a bundle, proving IN the
| most conclusive manner that under
| free trade "a trust could and did eXtort
outrageously without the benefit Of any
tariff at ALL" The price Of soda ash
| under free trade was $4S ton. The
| Solway Process Company, the only one
| In this country making soda ash, and
| therefore monopoly, or American
| trust, while the protective duty was
| SIS ton, sold soda ash at SIS and VIZ
a ton. This proves there was no ex-
| tortion under the American trust, but
/
| foreign trust-Louisville Commercial.
Protection and Currency.
The great blunder made by Cleveland
and the Democratic party in 1898 was
| in trying to maintain the gold standard
while throwing wide open the trade
doors Of the American Union to for
eigners. The consequences asserted
| themselves almost simultaneously. AS
the foreign goods poured into the coun-
| try gold flowed out and In short time
we were suffering all the Ills which
| manifest themselves whenever appre-
hension concerning the sufficiency OF
the supply of basic money exists.
This state Of affairs continued until
after the election of Mckinley gave
the country assurance that the tariff
would be so adjusted that the wants
of the country would be satisfied with
the products of American workshops.
The easing UP was at once noticeable,
but the full effect of the benefit was
not experienced until exports largely
exceeded imports. Then a sense Of Sc
curity took the place of distrust, and
the people ceased to concern them
selves about the gold question. This
state Of mind will continue so long as
the Republican party is true to its ira
| ditions and adheres steadfastly to pro-
lection, the great trade regulator. AS
long as we impose our tariffs judicious-
" we need not fear an adverse trade
balance, and while it Is in our favor
| there will always be plenty of gold in
| the country to meet all currency re-
| uuirements. The lesson Of the situa-
| ton ought to impress itself on our leg
| islators. It is a very simple one. 1t
| is: Stick to protection and favorable
| trade balances and the money question
will take care of itself.-San Francisco
| Chronicle.
Big Figures of Prosperity.
The manner in which the restored
prosperity Of mckinley and protec-
| tom has touched the finances Of the
| American people Is indicated by a re
port lust issued by Comptroller Of the
| Currency Dawes. In collecting the
data entering into his report nearly
| ten thousand reports from banks were
examined and compiled. The results
Of the investigation indicate magni-
| tude Of banking resources, and rate
of growth in number of deposit ac-
| counts which is unparalleled in the
financial history of the world. It Is
| shown that in tho mast ten wears de-