Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1903-08-04

In England, and to allow for this in
estimating real wages; that is, what
man can buy with his days work.
But this is not all The protection
lists forget to tell us that England is
the only free trade country in Europe
and that times are even harder in pro-
tected Germany, Italy and Russia and
other countries than in England; that,
Indeed, it is mainly from the protect
ed countries of Europe that the flood
of immigrants is now coming. They
are being driven out by excessive tariff
and other taxes. Those who remain
are rapidly becoming socialists and
threatening to overturn protection and
perhaps the government with 1t. The
socialists made great gains in the Ger
man elections few weeks ago be-
cause of hard times, which their speak
ers attributed largely to high tariff
taxes and merciless tariff trusts in
steel, coal, coke, etc.
In this connection, it may be noted
that five years ago the German writers,
editors and business men We're "whoop-
ing it up for protection and trusts
(cartels) there. jus as our learned com
mercial writers have been doing here
for three years. They said that the
great syndicates controlling the indus
tries of Germany could regulate pro-
duction. adjust supply to demand and
all the rest of it, so that there could
be no over production and therefore no
real depression in business. Most Ger
mans were optimistic then. Now all is
changed. Three years Of severe de-
preston and hard times have devel-
oped big crop of pessimists and
'.croakers" They are cursing high tar
if duties and trusts ito beat, the
band" They are ridiculing the optim-
lists of five years ago and parading
their prophcsies before the people.
The trust-tooters in Germany just now
are very meek and humble specimens
of mankind They have had their day
and are now having their night.
Is there not a lesson in Germany's
experience with trusts for us? Why
viii our great heads not learn this les
son?
The Iron Age contains long edi-
torial entitled, a Theory of Industrial
Depressions" 1t says: There is good
reason to believe that panics, followed
by periods of industrial depression Of
greater or less duration. were former
" due TO causes rather psychological
than material, and that owing to re-
cent greater changes in industry. des-
ignated ''co-0rdinations by Mr.. Car
negie. we have "a series of entirely
new economic postulates. which con-
fuse statistics and silence prophecy"
1t. however. suggests strongly that
our trusts and banks, by -vorkiDg har-
moniously together. can vert panics
and depression. and asserts Fit VIII be
dangerous TO attempt TO formulate
laws which are intended to explain
what may never again happen
This editorial may have been cop
led from some German magazine OF
1895. Possibly within two years this
same Iron Age may be blaming our
tariff and trusts for hard times and
be quoting some Of to-day's strong
antitrust articles in German papers.
1t is even nov uncertain If our trusts
are making friends OF all. Our pres.
ent day trusg-tooters should not for
get that those who laugh best laugh
iast-Byron w Holt
Protection and Bounties IA Canada
The close connection between pro
lection ard bounties and the beauties
OF both. II vou want to squander
nsoney. IS evident from what we can
now see In Canada Two or three
years ago Canada beyaL TO pay boun-
ties TO her manufacturers OF iron and
steel These amounted 10 s. or So per
ton bat were 10 diminish each year