The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-09-30
SENATOR PRITCHARD'S CLAIM
OF PROSPERITY OF COTTON
MILLS THROUGH PROTECTIVE
TARIFF DESTROYED BY SWORN
TESTIMONY OF COTTON MILL
OWNERS.

Senator Pritohard expects to carry
North Carolina for the Republican party
upon two arguments. The first is that
the protective tariff has caused the cot
ton farmers to get very much higher
price for their cotton than they received
under the Democratic tariff law enacted
during the administration of exPresi-
dent Cleveland.
We have seen that this argument is
not founded upon fact. We have seen
that cotton fell as soon as Mckinley was
elected and that for two years after he
went into office the price averaged nearly
two cents lower per pound than it had
averaged during the last two years OF
Clevelands administration under Demo-
cratic tariff reform laws.
He depended upon carrying Eastern
aud Southern North Carolina, the cotton
region. on this argument He has utter
~ failed to make any impression in that
section. He now goes into the Piedmont
and Western part of the State using his
StCOuu great SulDViits SO-NIh' hete
the protective tariff has brought great
prosperity to the cotton milling section.
He said at Kinston that cotton mills
were being built faster than ever was
known; that they were making money
faster than ever before and paying larger
dividends.
TufO fol tho cnttOn mill hUSi-
ness. Senator Pritchard's statement is
the opposite of the fact. Instead of re-
ceiving the great measure of prosperity
which he says they have received the cot
ton mills for the past two years have
gone through period of great depression.
They have seen other branches of bust
ness prosper, while theirs has Jagged
behind. They have seen that under the
operation of the protective tariff every
thing they bought except the raw ma
terial had been artifcially increased in
price. The price of all the machinery
they used, in building or in repairs, for
all the dye stuffs they used, in short,
everything that they needed in the opera
ton of thir business, has been increased
in price without any compensating benefits
to them.
We arc enabled to make this state
mcnt not as a mere assertion, but as a
fact proven in court and judicially estab-
ishcd by the United States Circuit Court
of Appeals. Last winter some stockhold-
ers in one of the large mills of this State
became dissatisfied because they re-
ceived no dividends upon their stock, and
when they examined the books found
that, instead of making money, their
mills were losing money Thereupon.
they applied to the court for receiver
and asked that the mills be closed up, as
they were losing money. Those in
charge of the mills answered and al
mitted that they had lost money heavily,
but they said this was due to the stagna-
tion in business and mills generally
were losing money The owners of this
mill introduced then affidavits from a
great number of the most prominent
mill owners in North Carolina. They
are men of the highest character and
standing They are men who have given
their lives to the mill business. They
are generally North Carolinians of the
very highest type. They know what they
are doing. They know thousand times
more of the business than Senator Prit-
chard knows, and their sworn testimony
is to the effect that the past two years
have been the worst that the business has
ever known.
We quote extracts from the affidavits
OF some of these gentlemen. The origi-
nails of these affdavits are in the office
of the United States Circuit Court at
Greensboro. n. c., and any person can
get certified copies by writing to Mr.
Samuel L. Trogden. the clerk. and pay
ing his fees.
Hon A. A. Thompson, President of the