Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-10-30
ROBERTS At R[|NB[Ck
Director Of the Mint Speaks to
Large Audience at That
Place.
"
Argument Of the Democrats Re.
futed In Clear and Con-
else Manner.
Cousins Makes a Good Impress
sion on Voters at Web
ster City.
special to Times- Republican.


Reinbeck, Oct. 3o-Hon. George e.
Roberts, director of the mint, spoke to
a large audience here last evening. His
speech was one of the clearest and best
ever delivered here and he received the
closest attention.. He said in part:
zone of the most eminent and popular
political leaders in this country, in an
address delivered at Kansas City on
Labor day last, made the assertion that
every decade in our history shows an
increasing production of wealth and
that those who produce 1t have less of
it.. This is grave and startling indict-
ment of the existing order of society. II
is charge that If it does not justify, at
least suggests, violence. The man who
made it does not advocate violence. II
is due him to say that no one has spok-
en- more emphatically, or I believe more
sincerely, In condemnation of the horror
at Buffalo than he. But his argument is
that While the robbery of the many for
the benefit of the few is fact, and
while it might justify violence under
another system of government, in this
country peaceful means are provided for
making the government whatever ma
jority of the people want 1t to be. and
therefore there is no occasion or justifi-
cation for violence here.
Now what basis is there for this
statement that while the production of
wealth ia constantly increasing the pro-
Queer gets less of it? None in the world
thority supports it. All authority and
all intelligent observation refutes it.
Moreover, with labor free and wealth
increasing faster than population, it is
fundamentally impossible to have such
result.
How does that accord with your own
observations? Which has been going
down in the last five years in this COM
munity-the wages of capital or the
wages of labor? / can remember when
the rate of interest in Iowa was 10 per
cent and higher, and when man who
had $4,000 could depend on an income
OF $4,000 per year. Now man who has
s50, 900 can count on only about $500 per
year. remember when the agent who
negotiated farm loan for borrower
used to get 5 and even 10 per cent for his
services. Now he gets about per cent
on five-year loan. remember when
the county in which live paid 10 per
cent on its bonds, and what an achieve
ment in financiering twas whens they
We're refunded att per cent. Now they
pay 31a per cent. Those are the earn
ings of capital. When the trunk lines
of railway across Iowa were built their
bonds bore interest at Z per cent. Their
recent issues bear 31a per cent. Within
the past four years the Lake Shore &
Michigan Southern railway has paid off
it's old debts, drawing per cent, by
making new loan att3h per cent. The
New York Central is still paying inter-
est at per cent on bonds issued In 1872.
These are the wages Of capital. The rate
of interest is the best indicator we have
lof the general earnings of capital. IL
iinstead of loaning his money for others
to do business with capitalist chooses
to employ 1t in business himself, he may
make more than the rate of interest and
he may lose his capital. But the same
cause that drives down the rate Of in
terest forces down the earnings of CAPT.
tai in business That general cause is
the increase in the supply of capital.
ION the other hand, the wages of la
Dor show constant tendency to in
crease. Every investigation that is
made, every comparison of present
wages with those of the past shows 1t.
But the most imortant gains to the
wage-earners are not found in their
wages. They appear in what wages
win buy. The benefits of this competi-
tion of capital, and of progress In the
industries, naturally come to the masses
in reduction in the most of what they
buy. They came to the farmer in a re-
duction of the rate of interest, in bet
liter and cheaper transportation facili-
| ties, in better and cheaper implements,
in the growing value of the land and In
the reduced cost of all he buys.
Does anybody know what the policy
of the democratic party is upon any
question today? Can anybody foretell
with any degree Of certainty what the
attitude of that party will be next year
| or in three years upon the silver ques-
| ton In Iowa they stand by the Kan
gas City platform by close scratch this
year. Next year they may abandon It,
but after they have abandoned 1t they
may be for it still. The sentiment COM
monty expressed is that this is not an
opportune time to press it. I should
| think not; but what security to the
| country would there be in abandonment
4 for that reason?
THE democratic party makes spe-
cialty of it's opposition to trusts. If the
trusts could be killed by denunciation
1.-THE problem would be very simple one
They would all be dead now. But the
| truth is that what is called the trust
problem is very difficult one to legis-
Hate upon in any practical manner
What is called trust now is simply a
corporation, like any other save in size
1t is organized, like other corporations
under state laws, and is not amenable tc
Legislation by congress. An effort was
stitutional amendment submitted giving
4 power to congress to define and regulate
monopolies and trade combinations, bul
lit was defeated, the democratic mem.
Ibers opposing 1t almost unanimously
All direct legislation upon them must
Therefore, come from the states, ant
without uniform policy followed by al
the states little that is practicable cal
be done.
Everybody admits that there arr
dangers to be feared from these grea
lcorporations, and that 1t is desirable t.
have safeguards. The recent action o
4 the sugar trust in cutting the price O
sugar in the local territory of certain