The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1903-06-24

| low, intsl,tgence and sill lower stand
ard Of living depress wages to the
margin OF bare eXiStaHCe, and Is rap
| ;1lv brutalizing the social condition
of 1he commonwealth. The coal mag
Mares DIaintiyeiy remark that there
| il surplus of labor ii the coal re-
sion.
This surplus exists largely be-
carsn if was brough. there in de-
fanca OF the contract labor law to
supplant American labor and leuuce
wages OF what value is the high
| ,a1iff in supporting the standard or
wages paid TO American labor?
The manufacturer has secured the
double advantage Of cheap labor and
! exEOrbitalt prices for his product.
| The occasional advance IN wages
hears no relation whatever to the
enormous advance in profits. All
| mis- points to the gradual absorption
of the profits Of the Land by hand
full Of men.
1t means the upgroWth OF class
| of working people totally UNIT TO
sustain our form of government. 1t
means the aggrandiZement OF small
upper class, whose idlenesS already
| leads to RIGHTEOUSNESS and the waste
of wealth which has now reached its
climax in certain eastern cities.
| What of the agriculturists and
the non manufacturing classes resi-
! deaf ia the Mississippi valley? 1t may
be admitted at once that times are
now apparently good in that region.
| WHY not? II contains 60, 900 900 people
who produce three-quar,ers OF all the
natural wealth OF the United States.
| They have done We'll since the hard
times. but the could have done bet
| ter. They nave received nowhere near
! the amount OF profits to which their
enterprises and lheir natural re-
! sources entitle them. They are now
waking to the tact that their energy
produces the wealth upon which the
commercial prosperity Of the nation
( depends
"Under the present tariff sys,em
/ they pa eXOrbitant prices for manu-
/ featured articles. but sell their own
! Staples at prices made in the cheap
| est markets OF the world; they must
compete with the cheapest labor in
! the world commercially. they are
/ caught both coming ald gOing.'
while tne,' have always supported
/ protection they now see their foreign
markets gradually closed against
! them in retaliation for a tariff which
/ shuts European manufacturers out of
/ the markets Of the United States. One
may not commence without eXchang-
| ing commodities. 1t is ridiculous to
suppose thai Europe will indefnit5IE
/ q -
| if and still give Us free access to her
own markets. She will not Indefinite
! IL trade gold for food products. She
could not, even if she would.
Although reciprocity has been
promised to the Mississippi valley in
every party platform for ten years, |
am informed by a well-knOwn and
very practical politician in Washing
ton that the protective element of the
/ party has not the remOtest intention
of passing any reciprocity treaty
whatever or taking any step toward
the reduction of present duties.
Our -four and corn. hogs and ba-
con may be gradually excluded from
| European markets. but nothing is to
be done toward reducing the tariff
which leads to these restrictions.
In a nutshell, the Mississippi val
ley gives everything and gets nothing
under the existing system. 1t sells
| cheap and buys high. 1t produces the
wealth without which the east could
not sustain itself for one day. But
for its colossal railroad earnings and
its increasing development of natural
wealth, the Wall street operators
would have to put up their shutters
The Mississippi valley should not
submit indefinitely to the yoke under
which, by the aid OF the present high
protective tariff, its riches are poured
! into the Golfers of eastern specula
tors"
1T is this sentiment that Overhangs
the money market at present like a
dark cloud It's meaning should not
be misunderstood. The people Will
no longer buy industrial stocks at
Wall street prices. The west will no
longer lend it's money to keep inflated
values Thousands of millions OF Sc
curities' earned by eastern banks and
ed at home. This means call money at
at home. This means call money at
high prices, small squeezes at any
time, continual dullness till large
snare Ol Vie JOlSOH vi iiotitlouS '"i'
alton is sweated out of the CONNER
cial system.
That this must be done is inevita-
bic. 1t is only a question of how and
when and accompanied by how much
tribulatiOn. The heyday of prosperity
has passed, even the west Neither
railroad nor industrial. securities will
rule as high as hitherto. The indus
,y1ft
reach the point where they will pay
a fair dividend in average times.
This means the absolute obllter-
alton of some stocks and heavy losses
in others. Bad crops next fall would
surely bring harder times. An attack
upon the protective system at the next
session of congress would shake TO
their foundations such of the trusts
as depend upon exorbitant stocks. AL
together we can hardly escape com
mercial depression within the next