The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-10-26

dicated very frankly by Senator ALL
son, than whom nobody speaks with
more authority In the speech delivered
by him at the opening Of the Iowa cam
paign, Mr. ALLISON not only denied that
the tariff is the mother Of trusts, but con-
tended that any attempt to cripple COM
binations of capital by permitting free
trade in trust made goods would do
more harm than good, even II such
scheme were practicable. II would not
be practicable, he thinks, inasmu oh ~
it would lead to endless contests in the
custom houses and the ports, touching
the question what are trust made goods.
AS distinguishable from other goods OF
like character, produced here or pro-
duced abroad. Assuming, however, the
practicability Of the plan. what, he asks,
would be the effect According to the
census of 1900, about II per cent. OF the
articles manufactured in this country
were then made by what we call trusts.
Senator ALLISON does not deny that tho
percentage has increased since 1900, but
he challenges contradiction Of the state
ment that, even now, it does not exceed
20 per cent. Of the total product. II,
then. the Iowa idea" means that all
goods resembling trust made goods
should be put on the free list, and il this
idea should be carried out, the American
citizens producing so per cent. Of our
manufactures in competition with the
trusts would be crippled II not destroyed,
through no fault Of their own, in order
that the trusts, producing 20 per cent,
might be restrained. Is it possible,
asked Senator ALLISON, to devise more
effective method of annihilating the pro-
tective system than the insidious pro-
posal of withdrawing protection from
trust made goods?
Important also, as probably foreshad-
owing the course that Congress will
be permitted by the dominant party
to pursue, was Mr.. ALLIsoN's reference
to the schemes for increasing the volume
of the circulating medium. The Sena-
tor insisted that none Of the proposed
reforms in our currency falls within tho
limits of legitimate debate in Congress
at the present time, because, although
they have been the subjects Of more or
less discussion In magazines and news
papers, no political party, as such, has
made itself responsible for any of these
plans. That our existing currency sys-
tenn can be improved Mr.. ALLISON has no
doubt, but he does not believe that ii will
be revolutionized so as to deprive the
Federal Government Of the substantial
control that it now exercises over bank
circulation. He is certain that no modifi-
cation of the present system will be made
that will not provide absolute security
for the notes issued by or under the
authority Of the Federal Government
and for their convertibility. It the will
of the holder, into gold. The Senator,
moreover, is by no means convinced
that there is just now any pressing
necessity for changes in respect Of our
circulating medium, as regards expan-
sion or elasticity. 80.
If legislation should be imperatively
needed to facilitate relief from the ac-
emulation Of money in the Treasury,
the Senator from Iowa would favor it.
Meanwhile. however, he declares him.
self firmly opposed to the debating Of
bills and projects that are not involved
in the approaching campaign, and that
~ had hn ~
either political party.