The Montgomery advertiser., 1901-10-11
CONGRESSMAN BABCOCK
SAYS PRESENT TARIFF SYSTEM
 AID MoNoPOLIES.
High Prices for Steel-Domination of Worlds Market, He Holds, Shows That High Duty
 is Not Needed.
Chicago Tribune.

Chicago Tribune.
 When any article can be manufactured in the United States cheaper than any where else and is an article Of export, the duty produces no revenue and affords no protection, but simply enables those who secure control to make such prices as they see fit in the domestic market up to a point where it can be imported"
 This is word for word the principle upon which Congressman Joseph w. Bab- cock of WiGconsin would reform the tariff. He made the announcement in his room at the Auditorium last night. He puts it this way
 Wants No Monopolies.
 "I am making no assault on tariff schedules. I have applied this principle to only one schedule, the steel duty. show how it works with regard to that.
 T am a Republican and protectionist. I believed in the Dingley bill at the time. Protection means the fostering of indus tries in their infancy. But protection does not mean the support of monopolies, whether of an individual or corpora tion. l want to see the Republican Party abreast of the times, dealing with pre- sent conditions, not grown mossback like the Democracy.
 Now take this steel schedule. Steel billets can be produced in this country cheaper than anywhere else in the world. We have got Great Britain, Germany and Belgium thrashed on the matter of steel, and they know it. We alone possess the coke to run furnaces that produce from 600 to 800 tons a day. In Europe they have furnaces that can produce only 100 tons a day. That is because of the coke. This coke, known to steel men as strong structural coke is so called be- cause it alone is capable of supporting a mass of ore without being crushed. That coke they do not have in Europe.
 The Steel Situation.
 Yet the protected steel monopoly owns 90 per cent of this coke. Also, it owns 95 per cent of the surface ores. Neither steel rails, steel plates nor steel billets are imported into this country. Why? Because Europe cannot produce them as we do. We are supplying them instead.
 The only steel imported Is 'Swedes- iron a handmade, hammered, charcoal steel. use6 only where very tough steel is needed
 The Pennsylvania Railroad is building its own steel plant, using its own ores and fuel to manufacture its own steel rails, so as to be able to- get them for $l6 to SIS a ton, where it would have to pay the trust S24 a ton. The road under stands the situation, It is very clear.
 Now that is one schedule. There are OlHtTS, nut am concentrating on InlS one. Why don't you question the sugar t1hedule as well? l am asked that, Be cause the sugar schedule does not come under my principle. It is our greatest port. It is legitimate protection also. protects the beet raisers in the West and the cane growers in the south.
 Production of Sugar.
 Here are the figures. This wear our production of beet sugar was 19S. 800 tons, of cane sugar 70O,000 tons. The Southern States produced 3000O0 tons. Porto Rico 100000 tons and Hawaii 300,O0O tons. Three years ago our beet sugar product was only S2 900 tons. Secretary Wilson expects that under the present protection beet sugar production will have an indefinite extension. That is why do not quarrel with the sugar schedule.
 Congressman Bahcock has recently re- turned from four months trip through France, Germany Austria, Italy. Bel gium and the British Isles. He made al- most an identical trip six years ago. He saw a revolution. such a thing as the world never knew before," to use his own ""5Sn; Our Credit fs' illustrated" he said. 'by the quotations of government bonds on the London market. Here is what l found: Range for per cent. bonds of cent. United States bonds, 113 per cent. Range for per cent bonds, from 42 to IA; per cent. United States bonds. 137. Where United States bonds stood at ll3,
 
 Big Order for Steel.
 "At Belfast in the week of my visit one concern placed an order in the United States for 2O,JCO tons of steel. the greatest ever placed in America. Iris means 1000 cars of 4o.000 pounds each, or twenty-five trains of forty cars each, or train between six and seven miles long. The Belfast people saved about 1 pound per ton and got a better quality hy placing the Crder in America. This is no mere selling of our surplus in for eign markets. It is dominating, the worlds market. And yet they yell for protection. They want their $S per ton duty. as it now stands. Our exports last year amounted to $7S0. 900 OoO. This continued five years | longer would drain Europe of all her cir culating medium. We have got our SC, curities back. We are now paid in gold | and We are getting their securities.
 Congressman Babcock says he has en- | tered the fight to stay to finish.
 A GoodWord for Corn Bread. Nashville CTenn) American.