New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-02-26
TONGUES AGAINST BRAINS.

Would it really be well for the country to be
governed by men who would drive out OF Dusl-
ness any manufacturer whose profits exceeded
per cent on his money? The followers of Mr..
Richardson. the Democratic leader in the House,
must surely be able TO perceive without much
thinking the meaning of his latest proposal
Who supports the farmers of Tennessee, Ala
bama and other Southern States: The follow
ers know, if Mr.. Richardson does not, that they
are supported 10y those whose purchases supply
a market for the cotton and grain, the meats and
vegetables raised on Southern farms. Without
great army of manufacturing and mining
hands 10 buy the food from farms and the cloth
from cotton mills, the farms would not be worth
as much as richer virgin soil is worth in the
wild and unsettled regions of the Far West,
where square miles of land can be had for moth
ing Are the people Of the South destitute of
sense when they offer all sorts OF inducements
10 encourage the location of manufacturing con-
Germs among them, or is it the man who would
prevent any such development and diversified
ton of industry who is destitute OF sense?
TO prohibit transportation of products by
concerns earning more than per cent is to pro-
hibit any investment in manufacture. No man
would expose one dollar of his capital to the
risks OF business if ne could get only per cent
profit, while by lending bond and mortgage
he could get q per cent without trouble or risk,
and sit in comfort while others work for him.
All manufacture would stop, and mining and
trading also, if per cent were the limit of
profits 10 be permitted. If that is 10 be the limit
of lawful profits for those who gather large cap
ital and combine different works in order 10 pro-
duce and sell more cheaply than others, prog
ress In such Industries must stop. Bad years
come In all trade or manufacture. Failing mar
kets, suddenly curtailed demand, make losses
Inevitable in such years, even for those who
have been doing best But if the capitalist is
not legally permitted TO hope for anything bet
ter than per cent TO make good all the losses Of
bad years he will take his easy per cent on
mortgage every year and let somebody else take
the work and the risk.
OF course, no reasoning being can judge what
Mr.. Richardson may set up in excuse. But pos
sibiy he may urge that his per cent rule is in
tended 10 apply only 10 such corporations as he
may suppose to have monopolies and TO use
them unjustly. The difficulty is that he evil
IDENTIFY has not the smallest idea what he means
by monopoly He launches one bill at the sugar
company, being by some miracle left ignorant of
The fact that this company is at present fighting
Tor its very life against an opposition which has
many millions invested and has TO urge IL for
ward particularly strong feeling besides the
desire 10 succeed IN business The same daily
journal which printed his ignorant resolution
aiso printed the news of further cutting of
prices by competitors against the Sugar Trust
another shot Mr.. Richardson aims at the Tin
Piafe Company, having been able to get through
'ae last year without seeing any of the an
nouncenents Of companies formed and works
started or approaching completion for the pur
pose OF competing With this concern If the 4
per eeht embargo is liable to apply to every
rohcefn about which Mr.. Richardson knows