Corvallis gazette. [volume] (Corvallis, Benton County, Or.) 1900-1909, 1903-12-01
EDITORIAL COMMENT.

Forty-tour New Jersey Trusts
which have been placed in the
hands Of receivers since January
I, of this year, with authorized
capital of $50, $40, 900 and which
became trusted to the amount OF
$17,272,333 for the payment OF
which they were found to have
estimated assets of only 81, $685.
684, scarcely enough to pay re-
ceivers and lawyers fees and give
decent burial to the corpses of
the defunct corporate trusts.
The New Jersey Trust-promoting
boom is certainly not progress
ing so smoothly as heretofore,
and still the good work of those
deceptive watered capitalized
combinations are reaching a
proper accounting. as water un-
disturbed will sooner or later
seek its proper level.
= u u
From the commercial columns
of the great dailies we learn that
the great oil Trust has advanced
the price of coal-oil two cents a
gallon in less than a month.
Statisticians who have been fgur-
ing on what this means to the
Trust, state that it gives an an
nua1 added increase of $50, ,ooo,-
600 to the income of the trust
magnates, and means an addi-
tional tax on the people to that
amount. This enormous tax.
which touches the very life of
the people, is paid almost with
out murmur. And this is only
one out of many such. Coal has
already advanced, and will go
higher as soon as the cold wealth
er makes it an absolute neces-
sity; meat of all kinds has ad-
vanced. This gain is not the
gain of the producers. The
prices that the Trusts pay tc
them is screwed down to the low
est notch the continuance of life
and business will permit. The
question that forces itself on II:
is: ''What are we coming to p
Conditions something like thi:
have prevailed for years in Eng
land, and yet "in The heart o
the wealthiest city, in that mos
Christian land,' the fact stand'
out in ghastly prominence, tina
one out of every six in Londor
dies in a hospital, workhous'
or a prison. And we call our
selves civilized Just think o
orr ancestors making fuss abou
a tax on tea, and throwing i
into Boston harbor, while we pay
a tax of $50, 900, 900 year OF
coal-oil, just levied by our dea,
''brother' Rockefeller What
are we going to do about it?
- - -
Until recent years fnancia.
conditions were such that the
West was largely in debt to ane
dependent upon the East, and al
the same time the East was ii
debt to and dependent upon the
nations of the old world. Ir
1893, the immense fall in prices
was due mainly to foreign selling
OF the industrial stocks and
bonds of enterprises in this coun.
try. Since that time great
changes have taken place.
Financiers of the United States
have been able to buy back the
American stocks and bonds held
abroad, and thus in a great meas
ure establish financial indie.
pendence for the business inter
ests of this country. Ia the
years ending in 1901, the balance
of trade in favor of this country
was over IS, 900, 900, GOO, and the
gold imports in the same time
was under 800, 900, 900. With
the liquidation of the great debt
to Europe, the United States be-
comes able to accumulate surplus
instead of having to use her large
balance o. trade to pay debts to
Europe. In like manner the