Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1903-10-01
Workings Of Coal Tariff.

u
Workings Of Coal Tariff.
The same act put duty of 81 cents per
ton on coal. a duty which a beloved re-
publican statesman and member OF the
cabinet said was placed on the statute
books by stealth and yet 1t received the
from the state of Iowa.
VIII you explain to me where you de-
rive benefit by a tax on coal? The grea:
state of Iowa produces thousands AND
thousands of tons OF coal. We export 10
foreign countries vast quantities and yet
the beloved statesman of Iowa wishes 70
stand pat upon this proposition In ordef
that he may be true to party and Keep
out the vision of tariff reform, and pre-
vent possible breaking away from the
eastern protectionists They offer you no
stantly, but the benefit which IT brings 10
you, wish some one would explain.
We have bat to examine the steel trust,
the most wonderful combination man ever
knew Its total capitalization of bonds
and stock amounts at this time TO- nearly
81. 4yl, oe0 and upon that gigantic capital
20 per cent. Its annual product is beyond
comprehension. II controls the source OF
supply of the iron ore of the United states.
II controls the transportation OF all the
cent. or more OF the iron mills of the coun-
try. One-half CT its capital is water.
The Standard Oil Trust.
The most gigantic trust of modern times
Is the Standard on trust 1t has done
more TO build up other trusts than any in
stitution in this country, and yet. you
stand in its presence awe stricken. 1t is
using one of the products of nature. The
God of the universe did not intend that
tho Standard Oh company should monopo-
lizc the oil of the world. but 1t is doing
II. This company has killed all competi-
ton, but the 'stardpatter' does nothing
but applaud the writing of it's victim.
l wonder IL Governor Cummins does not
believe that this t;iiiif schedule is a shell
ter 10 monopoly In this instance. The
Standard on, company uses great deal
of tin. DO you not remember the roseate
view they gave YOU a few years ago con.
corning tin? DO you hear anything on
are as silent az clam on this subject. The
Standard Oil company manufactures 10000
iive-gaIlon tin cans daily for use in ex-
porting its product. but not a single piece
TIN IN Wales. There is an enormous duty
on TIM so great IN fact for long time 1t
amounted to prohibition of the foreign
article. When the Dingley tariff schedules
were formed a cnusc was inserted, prob
ably by STEALTH saving that upon all tin
used in exporting American products the
duty would be RELATED that Is, the United
States would pay back all the duty re-
cetved from the importer. The farmer who
buys tin for use ON he farm. for use any
where must pay the duty, is deprived OF
competition and receives nothing In re-
turn but the good will of the Standard
Oil company. 1t is protected by law from
competition with foreign oil from abroad
and from within it protects itself by mon
itude for these be!leficent acts by erecting
colleges.
Asst Wild Cat Currency.
our friends. the enemy. are unwilling
that the people should control the money
hut wish corporations and banks to
do. hold in my hand u copy of the Aid
rich bill introduced at tie second session
Of the last congress. maintain and insist
of the Aldrrh bin would be ruinous to
the prosperity of our country and would
place additional powers in the hands of
The rational banks for the purpose Of con-
trolling the money of our country. You
wish to sec tho money of our country care
fully safeguaracd. Not single dollar TO
be worth less than hundred cents. Our
worthy governor himself family indorses
tho Fowler measure, a bill that means wild
cat currency of the widest sort.
Do you fully appreciate that system OF
statesmnnship which wishes to engraft
on the law of our country. statute
permitting ten dollar bill TO be based
upon the assets of some defunct bank and
Is unwilling to have the ten dollar bill
based upon the silver bullion of our coun-
try? Which asset would you prefer? That
of the bank in the hands of receiver or,
silver bullion in the vaults of the United
States?
Such is the Intention of the Fowler bill.
The Aldrch bill is along the same limo
but step in advance. by its terms it
permits amy bank that will deposit with
the treasurer of the United States first
mortgage bonds Of amy railroad not in
Guiding street railways, which has paid
dividends of not less than 4 per cent. per
entire capital stock for a period not less
than ten years previous to the deposit of
the bonds. to become a depository of the
United States N the secretary of the treas
ury will select the bank
A careful study Of this will expose the
cloven foot. 1t simply means further pow
er being placed In the hands of the ma
tional bank. and an additional market for
railroad bonds. There IL no reason why
the government of the United States is not
safe to control the money OF the coun-
try national bank, and 1t is not advo-
eating fanaticism to 80 believe,
Personally, and independent of party,
ann an old fashioned democrat, believ-
ing in the use of gold ana silver as the
cannot bring to my mind the thought that
cure than the government itself.
We have given to banks, at the present
time, almost unlimited power. They have
1t within their power to Increase or de-
crease the circulating medium of the coun-
try as they wish, If the banking bust
ness and the issuing of money is a good
thing then banks should be. willing to
by bonds of the United States.
power To base a single dollar Of the honey
they issue on bonds. that are not as good
rs the government itself. The Fowler bill
gives to these banks then, additional DOW
or They can buy railroad bonds whether
at par or not, of any road, and such bonds
VIII become assets of the bank, and upon
such, base the medium of exchange for
the people of the United States be-
lieve the very statement of the proposition
is enough to rcfute ii. When we take the
bond of the average railroad of the United
the credit of the United States, then
tell you the silver fanatic is II star of the
first magnitude compared with the men
who advocate such doctrine.
Aldrich's Banking Scheme.
The. Aldrich bill has reference to tho
deposit of public funds with banks No
bank can be selected unless 1t is a ma
tional bank and then 1t must be desig-
mated by the secretary of the treasury.
whGn it suits him. If lie wishes he may
place all the funds in a few banks. and he
In order to remove the stringency would
probably select Wall street institutions.
This money is loaned to the banks: the
government is in fact. not depositor.
The banks are to pay one and one-half
per cent: per annum. Is that profitable
funds SO loaned come principally from
custom duties. If the prime object is to
get the money into circulation and out of
the vaults; of the treasury, why not re-
duce the tariff, permit a little compete
ton in the iron salt and lumber industry
and thereby reduce the surplus?
Inc democracy Is. and at all times will
be. opposed to such doctrine as this.
The money of our country must be safe
guarded by every. possible right and men
who are unwilling to purchase the bonds
of the United States at ruling prices
should not be permitted to use the credit
of the United States in the form of money
or become eustodians OF public funds This
question will never be settled my friends,
until it has been settled in the manner
and form urged by Andrew Jackson, who
insisted that the medium of exchange OF
our land should be directly under the con-
troll of our government and then there