Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1903-08-05

in England, and to allow for this in
estimating real wages; that is, what
q man can buy with his days work.
TOnalta II .prot ectioIl.
But this is not All. 1ne-
lists forget to tell us that England is
the only free trade country In Europe,
ind that times are even harder in pro-
tected Germany, Italy and Russia and
other countries than in England; that,
indeed, 1t 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 a 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, 1t may be noted
| that five years ago the German writers,
| editors and business men We're "whoop-
| ing 1t up for protection and trusts
| (cartels) there. JUS as our learned com
mercial writer's 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 nc
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 ant
"croakers.' They are cursing high tar
1 if duties and trusts ''to beat thu
band" They are ridiculing the optim
lists Of five years ago and paradin:
their prophesies before the people
The trust-tooters in Germany just nov
Z are very meek and humble specimen
OF mankind. They have had their da.
and are now having their night.
Is there not lesson in Germany
experience with trusts for us? VIII
will our great heads not learn this les
son?
The Iron Age contains long ed
,, torial entitled, "a Theory Of Industria
Depressions." 1t says: ."There is goo
reason to believe that panics, followe
by periods of industrial depression Q
greater or less duration, We're former
ly due to causes rather psychological
than MATERIAL and TINT owing to n
cent greater changes in industry, de-
| ignated Denominations" by Mr.. Ca
negie, we have "a series of entirel
new economic postulates, which col
fuse statistics and silence prophecy
: 1t, however, suggests strongly thu
8 our trusts and banks, by working ha
u moniously together, can avert panic
g and depression, and asserts sit will
dangerous to attempt to formula
Q laws which are intended to eXpla
S what may never again happen
,. This editorial may have been co
IL led from some German magazine
r, 1903. Possibly within two years til
n same Iron Age may be blaming o.
1t tariff and trusts for hard times NJ
" be quoting some Of to-day's strol
# antitrust articles in German paper
g 1t is even now uncertain II our trus
are making friends of all. Our pre-
ent day trust-tooters should not fl
get that those who laugh best laul
last-Byron w. Holt.
Protection and Bounties in Cauad
Tho close connection between ID
q lection and bounties and the beauti
e of both. II you want to squand
money, Is evident from what we C
now see in Canada. Two or thr
d years ago Canada began to pay boz
q ties to her manufacturers Of iron a
' steel. These amounted to S. or So !
ton but were to diminish each ye