The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-09-18

/
knows that the cutting off of competi-
ton has tendency to constitute mo-
| nopoly."
| Just here there was an interruption
| that added force to the remarks of the
speaker. telegram just received by
Mr.. Joserhus Daniels was handed Mr..
Pou. 1t conveyed the information that
| Speaker Henderson, of Iowa, disagreeing
with his party in that State in their
platform declaration that the tariff is
the parent of the trusts, had declined to
accept the denomination given him. After
reading this telegram Mr.. Pou continued:
Secretary Shaw spoke in the State of
Maine, in the city of Rockland, on the
same night that l spoke in the city of
Thcmaston and among other things he
said The protective tariff is not the
mother of trusts, thought it is the par
ent of conditions that make it profitable
for capital to combine Now will you
please explain to me the difference be-
tween this and the statement l have
just made. Oh, no, the tariff is not the
mother of trusts, though it is the parent
of conditions that make it profitable for
capital to combine. In common parlance.
should say that between the statement
L
secretary has made is merely the differ
ence between tweedle-dee and tweedle-
dunn.
"What has been the result of this
combination of capital? The great rail-
road magnate, James ]. Hill, says there
are one hundred and eighty-three Ameri-
can corporations commonly called trusts,
with capital of five billions of dollars.
This is twice the entire circulation me-
dunn of the United States. AS matter
of fact. there are two hundred and ninety
OF these organizations, with a capital OF
ten billion of dollars. This amounts TO
as much as the combined stock OF money
of the United States, Great Britain
and Germany. 1t is not worth
while 10 argue the results that follow tnls
great aggregation of wealth. The Amer
lean people are at their mercy. IL you
have anything to sell the trusts you
take the price that the trust allows you.
If YOU buy anything from the trusts you
nav what the trust charges you' ana
YOU are powerless as slave 10 prevent
this injustice. I wish to make state
ment here tonight and to ask every man
to take it home with him. me trusts
are not only treating us worse than they
treat foreigners, but they are treating
us worse than foreigners treat us. surely
thew ought to show us the same con-
sideration they do the foreigner.
Here is proof of this, and 1T is from
authority whom all would recognize as
unouestionable were l permitted to give
the name of the writer of the letter that
7 hold in my hand. 1t is from a cotton
mill man and it was written Few DAYS
ago. In response to letter from me
asking the price of cotton mill ma
chinery in this country and in England
he writes: "A carding machine can be
bought in England for from 1915 to $780,
while the same machine in the United
States costs from 5000 to $3.50. Mule
spindles in England cost from S1OO to
s1.25 per spindle; in this country from
Ills to 1925 per spindle. There Is ABOUT
the same difference as to fly frames.
Ring spindles cost about $500 in England
and $500 in this country"
."These are the exactions of the tarlE
bred trusts. After seven months service
in the House l am convinced that the
Republican party is not the party for
young men, (Applause.) THE South
is going to develop, but 1t will be under
Democratic rule, and, not because OF Re-
publican policies (applause). l made the
same statement of the exactions OF the
tariff in a speech while campaigning in
the North, and Republican present said
if this was so the Republican party ought
to be defeated l asked him il l con-
WINGED him would he vote against 1T, but
he did not agree. / told him of Babcocks
declaration that goods were sold abroad
cheaper than at home and of his bill to
put such on the free list. Babcock's bill
is sleeping and Babcock has now trim
med his sails"
1.-The Republican party is the Trust and
the Trust is the Republican party. Roose-
Welt is a good man, but he Will brag and
he actually had suit brought against the
Beef Trust am not a prophet nor the
son of a prophet, but that suit Will be
kept pending till after the election When
the attorneys will find some defect in
the bill and it will go off the docket and
the Beef Trust will go on doing business
at the old stand (applause.) 1t is Roose-
velt's joke, and it is enough to make
even Republicans smile, being equal to
Roosevelt's speech against trusts and his
going to dine Immediately after with H.
C. Prick a magnate of the Steel Trust.
Il talk with the people, but | drink with
the trusts is the way Mr.. Roosevelt
equals the Dutch story kept alive by Mr..
Daniels"
After quoting prices showing how the
Steel Trust was selling steel rails abroad
cheaper than at home by from SO to 81
a ton. and of the same condition as to
the Tin Plate Trust, the Barbed Wire
Trust and other trusts, and stating that
he could name fifty different articles OF
American manufacture sold cheaper
abroad than in the United States, he said:
"What does this amount to? 1t means
that you are simply permitting the trusts
to punish you for allowing them to be-
come great and powerful. How long
will you submit to it?''
1.-The Democratic party contends that
the tariff duty should be reduced to such
point as will force the American man
ufacturer to sell Just as cheap to the
American consumer as he does to the
foreign consumer Is not this right?
Will any Republican deny the justice of
this position? We hear a great deal
about remedies for the evils of trusts.
l do not believe that any political party
can pass a law bringing about dissolu-
q; - ;a4 bo