The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-11-02
The Half Was Not Told,
Says Oxford.
CONTINUED From First Page.)

Continued From First Page.)
wasted and stolen? What does it MAJ
ter if your institutions are endangered
and your laws trampled under foot?
What does it matter if unnecessary
and burdensOme taxes are imposed
upon you and a privileged few licensed
to plumber and loot the many, so long
as you make money and are prospc..-
ous?' They hold Cleveland and his
tariff responsible for low prices AID
adversely and give Mckinley and mis-
tariff credit for high prices and pros
perity. When we show them by un-
questioned records and statistics that
banks had begun to fail, that factories
had begun to close, and farm prices
had sunk below the cost of produc-
ton eighteen months before Cleveland
was nominated and more than two
years before he was elected, they wax
their heads and, with one accord. say
cleveland did it When we show them
that the PopuliSt party was organizer
as a protest against low prizes ana
hard times in the middle of Harrison's
administration, and in the election
of 1892 pOlled over one million vote :
against both Harrison and Cleveland,
every one of which was a protest
against the hard conditions which hao
grown up under the Republican pa; =
W and its tariffs they Wag their heads
and say 1t was Cleveland who did it.
When we show them that the panic
reached it's elimination in the summer
of 1S93-more than year before the
Democratic tariff act was passed, they
wag their heads and say The Demo-
cratic tariff Drecipitated it. When we
show them that Canada, Mexico, Eng
land and France-some free trade ana
some protective cOuntrieS-afe TO-DAY
enjoying a prosperity just as great 10
ours, and when we show them that
the prices we are now getting for our
staple agricultural products are due
to the high prices these produces nrlnS
abroad, where the bulk of our surplus
is sold, where they have neithe: MIC
Kinley, Roosevelt nor the DlhGleV tar
ff they simply wag their heads ana
say Mr.. Roosevelt and the tariff ma
il for us: we know not what mas done
it for them 1t is the old, old story or
a lie we'll told and stuck to.
Price of Staple Products Same ieFc
as Abroad.
Fellow citizens, do you know that
cotton and corn end wheat are selling
all over Europe today for the same lIeS
sell for in New York and Chicago? DO
YOU know that if the price of cotton and
wheat falls a cent in Liverpool today
it will fall a cent in New York to-
morrow, and if it rises cent in Liver
pool today it will rise cent in New
York tomorrow? One-third of the cot
ton raised in this country is consumed
by our own mills the other tWo-thlrds
by European (mOstly English) mills.
Three-fifthS of the wheat we make in
this country is consumed here ana the
other two-fifths is consumed in Other
countries The man who buys your
cotton therefore, buys one-third OF IL
for our mills and two-thirds for me
European mills; and likewise with
your wheat. Did you ever have the
buyer of your cotton to say TO YOU:
I want this bale to sell to the cotto"
mills in this country where we nave
Roosevelt and the Dingiey tarlT. 1
will give you twelve cents a pound for
it, But / want those two bales for
the English mills, where they have
free trade. l can only give you eight
cents for them?' Did you ever have
the purchaser of your wheat to say 10
you: These three bushels / am buy
ing to sell in this country, where we
have protection. I will give you $1.OU
bushel for it; but these two bushels
am buying I" send to free trade
England. / can only give you seventy
five cents for it
mo, my friends the Englisnman
pays the same price for the two-thirds
.
and make into cloth that our own
mills pay for the one-thlrd part OF our
cotton which they buy and make into
cloth. The foreigner pays the farmer
the same for the part OF bis wheat
and corn crop which is bought and
consumed abroad that he gets for the
part that is consumed here, and the
price of these great prJducts of the
farm is the same all over the world. II
they are high here. they are high
elsewhere; if low here, low elsewhere.
They rise and fall and fall and rise.
here and everywhere, according to the
quantity raised and the wants of 'han.
But, my friends, it is not so with the
price of tariff and trust-protected
goods They are always high here.
High here when high abroad, ana high
here when low abroad. An1 why?
Because the tariff and the tariff
made trusts have exempted them from
competition and the operati IN of the
laws of supply and demand. ! do lot
deny that the Republican prosperity
argument is sound so far as trusts
which it has licensed to exploit the
people are concerned, but so far as the
farmer and consumer are concerned
it is a fraud and a humbuG.