Courier Democrat. (Langdon, N.D.) 1891-1920, 1903-08-06
HALF TRUTHS and LIES
Attempt of the American Econ
omist to Defend Steel Trust.
ITS CLAIMS EASILY DIsPROvED.

Statements of Economist and Of
President Schwab Don't Hnrmon1ze.
Attempt to Brighten Us by Calling
Up Ghost of European Trust That
Died Twenty Years Ago.
1t is amusing to see protectionst
squirm, hedge, back pedal, deceive and
falsify when confronted with facts.
He butts up against some hard, cold
facts and recoils, rubbing his head and
suffering stream of statements
ranging all the way from half truths to
full hedged lies.
The American Economist, organ OF
the 1000 members of the Protective
Tariff league. who pay 100000 year
in dues that juggled statistics and false
statements may be sent regularly to
6O00 newspapers. is taking the Dubuque
Na.) Daily Times to task for contendinG
that reduction in the tariff on steel
rails would result in corresponding
reduction in price. The Economist
says:
'Now. we ask the Times to consider
the following before going to our con-
tention that removal of the duty on a
reduction of So would ruin the indus
try. Oh, yes; we will acknowledge
that the price would go down to $24 or
$40, or even less perhaps. This price
might rule for six months. but who
would benefit? You cannot re-
duce the duty on steel rails without re-
ducing it on other articles. and if YOU
could slump in the steel market alone
would create a panic in business cir
cles."
To make good it's assertions the Econ
omist quotes figures from the report OF
the industrial commission. showing
that for the $40 months from 1890 to
1901 1.-The margin between the cost and
selling price of steel rails averages
$780, It then continues: Nov, if
the margin on ton of steel rails is
only $500, what result would Il reduc-
ton of S. in the duty bring? A loss to
the business. q decrease in wages OF a
surrender to the international European
steel trust. There is no steel trust i'll
the United States, but If there were we
would prefer to be at its mercy than at
the mercy Of foreign trust"
We will quote also the following
statements from the Economist: The
labor cost in ton of steel rails is fully
80 per cent. = Will the Times tell us
how we are going to hold our market
unless we reduce our wages to the
European level? The European
trust would win and our steel industry
would be ruined, or our steel workers
would be getting only one-half or one
third the wages they are getting now
** We deny that the same quality Of
steel rails can be produced in this coun-
try ut as low cost as abroad."
The international European steel
trust. which is such horrible monster
in the eyes of the Economist, is worthy
of a moments attention. The Econ
UlulSl ueElScS 4lS AUOAS
this trust from testimony given before
the British royal commission. in which
it was asserted that most Of the steel
rail manufacturers Of England. Bel
GUM and Germany agreed upon what
proportion each country was to have of
the orders of the world-that is. orders
for export. They also maintained
prices from "a to "a lbs. ton at the
works The Economist leaves its read
ers to infer that this hideous trust is
recent. 1t says that If we should ire
move our duty on steel rails to a rev.
enue or free trade standpoint" this
trust would wake up and get busy
within twenty -four hours" The testi-
mony. however contains internal evil
dence indicating that this European
monster existed some eighteen or TWEEN
ty years ago. 1t is this specimen of a
monster, belonging to an extinct species
Of past geological age. which when
living was not one-tenth the size nor
one-aftieth as ferocious as the steel
monster now doing business in this
country, that the Economist 20 dread