Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1904-01-12
A pAupER PRINCE.

A PAUPER PRINCE.
All Kinds of Favors Contribute to
the Welfare of the Steel
Trust.
Andrew Carnegie once said that steel
is either prince or pauper. He
meant that the industry is either very
prosperous or very much depressed at
any particular time; that it goes
from one extreme to the other. But
this billion dollar trust is also the
prince of paupers, for it asks for and
receives more and greater favors than
ever before fell to the lot of any other
individual or corporation.
In the first place, it receives from the
United States a tariff bone which
amounts to about $75,0O0,000 year.
That is, fully s75,O00,0oo of its $780,
900. 900 Of net profits last year were due
to the tariff on steel products, absolute
ly unnecessary to preserve the indus
try, and serving only to enable the
trust to extort $75,000,000 year from
our citizens, who are compelled to pay
40 per cent. more for steel than is paid
by foreigners who buy steel of the same
trust. If bills are introduced In con-
gress to reduce the duties on steel, or
to in some way relieve the oppressed
consumers, the steel trust writes to or
sees Congressman Dalzell, or some Of
its other representatives, and the re-
publican leaders at once decide that 1t
Is unwise to touch the tariff at present;
that 1t would disturb our prosperity to
stop the robbery by the trusts; that
the republicans can be trusted to re-
wise the tariff when there is great need
of it; that it is best to leave this ques-
ton until after the presidential cleo
ton; in short, that it is best to
stand pat" And so the steel trust
continues its $75.OoO.GO a year graft.
In the next place this steel trust is
always getting special favors from
those semipublic institutions. the rail
roads. 1t is not generally known that
Andrew Carnegie, like John d. Rookie
Teller, got his start, or rather his lead
through secret and illegal rebates
from the railroads; yet such is the
fact. AT no time, for 20 years, have
the railroads not been giving illicit
rates to the steel manufacturers. Pres
ident Schwab testified before the in.
dustrial commission that the railroads
always gave specially low rates or
materials to be exported. This is IL
legal and against public policy, but thu
interstate commerce commission i:
powerless to compel the railroads tt
give the same rates to all corners. A.
a result we Americans not only pay A
or SO per cent. more for steel, but hav'
to pay additional freights on othel
goods to make up for the lower rates
charged on steel transported for for
eign markets. 1t is beautiful system
for the steel trust. 1t catches u!
going and coming. And now the rail-
roads are said to have granted the re-
quest of the steel trust for 20 pei
cent. reduction on all finished stee
products transported to the seaboard
1t is also expected that the steamship
companies will be good to this grea
beggar and give it specially low rates
This will enable the trust to sell a
even lower prices in foreign markets
while it keeps up those at home
Again, the steel trust has for NOR
than year been getting special favor
{ of the iron and steel workers, VIII
have been working at reduced wages t,
enable the trust to sell goods for ex
port. Now the trust is asking all it
employees to work for wages from tel
to 40 per cent. below what they are a
present receiving, in order that tn
trust may make more goods for foreigl
!, markets and may continue to pay divi
'dends on its highly watered stock. l
would be cruel for the wage earners t
refuse this favor, which will save thi
/ pauper over t17,000,00O a year, an
wages will surely come down; in fact
they have already been reduced il
many mills. Many workers, however
have been laid off entirely. This say
ling is said to amount to over $4,000, 00(
BY cutting salaries 80 per cent anothe
saving Of 100000 is to be made
showing that $40,0OO.O00 a year ar
now paid In salaries.
"a; Altogether the steel trust, through
special rates from railroads, wage re
iductions averaging 20 per cent, salar
B reductions OF 80 per cent, men droppe
from the pay rolls and by other eco
Monies, hopes to save $56,OO0,OO0
year. With these savings this trus
hopes to weather hard times and t
avoid bankruptcy, although continuin
Ito pay tens Of millions of dollars
year on stocks that are all water.
II there are any other favors whic
have been overlooked, and which thi
beggar really wants, the preser
friendly republican congress wi
remedy the oversight. Nearly 10O,C1
investors are interested in steel stotk
and have lost more than $500, 900, 900 {
their hard earned savings. 1t will nc
do to let them lose all. This generou
country, Its obliging consumers, til
kind wage earners and the sympatheti
railroads will rush to the rescue an
will see that the steel trust does M
make less than 80 per cent. profit o
all steel sold. Less than this woul
prevent it from paying dividends on u
stocks. This trust must be kept afos
somehow, or the country will be los
BYRON W. HOLT.
Most nations have a father {
his country" but that new Panam
brat would be wise child if it kne
its own father.-Albany Argus.
Who can blame Senator Ham
for being little shy about the pres
dency? The nomination has not bee