The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-07-29

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all or nearly all existing plants in line
of manufacture without regard to econo-
my of production destroys competition.
They have most of them gone into bank
ruptcy. Competition in a profitable bust
ness will not be affected by the mere ag-
gregation of many existing plants under
one Q 1sss company unless the company thereby
which It shares with the public or takes
some illegal method to avoid competi-
ton and to perpetuate a hold on the
business.
Proper Treatment Of Trusts.
In law trusts should be restrained with
all the efficiency of injunctive process.
and the persons engaged In maintaining
them should be punished with all the Sc
verify of criminal prosecution, so that
the method of operation of their business
shall be brought within the law. To de-
stroy them and to eliminate the wealth
they represent from the producing capt.
tai of the country would entail enormous
loss and would throw out of employment
myriads of working men and women. SUCH
a result is wholly unnecessary to the ac-
complishment of the needed reform and
will inflict upon the innocent far great
er punishment than upon the guilty.
Destructive Policy of Democratic
Platform.
The Democratic platform does not pro-
pose to destroy the plants of the trusts
physically, but it proposes to do the same
thing in a different way. The business
of this country is largely dependent on a
protective system of tariffs. The business
done by many of the so-aclled trusts is
protected with the other businesses of
the country The Democratic platform
proposes to take off the tariff on all ar
ticles coming into competition with those
produced by the so-called trusts" and
put them on the free list If such a
course would be utterly destructive OF
their business, as Is intended. it would
not only destroy the trusts, but ali other
smaller competitors The ruthless and
impracticable character of the PROPOSE
ton grows palmer as it's effects upon the
whole community are realized
Effect of Democratic Policies on BusI-
To lake the course suggested by the
Democratic platform in these matters is
to involve the entire community, innocent
as it is. in the punishment of the guilty,
while our policy is to stamp out the spe-
cific evil.
This difference between the policies. OF
the two great parties is of especial i'm
portance in view of the present condition
of business. After ten years of the most
remarkable material development and
prosperity there came financial strin-
sion. This was brought about not only
by the enormous expansion of business
plants and business investments which
could not be readily converted, but also
by the waste of capital, then extrava-
ganc> of living. in wars and other catas-
tropics. The free. convertible capital was
exhausted. In addition to this the conf
dence of the public in Europe and in
this country had been affected by the rev.
Citations of irregularities, breach of trust,
over issues of stock. violations of law
and lack of rigid 6 ate or national super
vision in the management of our largest
corporations. Investors withheld what
loanable capital remained available. 1t
became impossible for the soundest rail-
roads and other enterprises to borrow
money enough for new construction or
reconstruction.
Will Delay Restoration of Prosperity.
Gradually business is acquiring a
healthier tone. Gradually wealth, which
was boarded, is coming out to be used.
Confidence in security of these invest
ments is a plant of slow growth and
Is absolutely necessary SO that our fac
tories may all open again, in order that
our unemployed may become employed,
and in order that we may again have the
prosperity which blessed us for ten years.
The identity of the interests of the cap
italist and the farmer, the business man
and the wage Garner in the security and
profit of investments cannot be too large
ly emphasized. / submit to those most
interested, to wage earners. to farmers
and to business men, whether the intro
duction into power of the Democratic
party with Mr.. Bryan at its head and
with the business destruction that II OPEN
iy advocates as remedy for present
evils. will bring about the needed conf
dence for the restoration of prosperity.
Republican Doctrine of Protection.
The Republican doctrine of protection,
as definitely announced by the Republican
convention of this year and by previous
conventions, is that tariff shall be i'm
posed on all imported products whether
of the factory, farm or mine, sufficiently
great to equal the difference between the
cost of production abroad and at home
and that this difference should of course
include the difference between the highe:
wages paid In this country and the wages
paid abroad, and embraces a reasonable
profit to the American production. A sys-
tenn of protection thus adopted and put
in force has led to the establishment of q
rate of wages here that has greatly en-
HANGED the standard of living of the la
boring man. 1t is the policy of the Re-
publican party permanently to continue
that standard ofliving. In 1887 the Ding
ley tariff bill was passed. under which
we have had. as already stated, a period
of enormous prosperity.
Necessity for Revision of Tariff.
The consequent material development
has greatly changed the conditions under
which any articles described by the Sched-
ules of the tariff are now produced. The
tariff in a number of schedules exceeds
the difference between the cost of pro-
duction of such articles abroad and at
home. including a reasonable profit to the
American producer. The excess over that
difference serves no useful purpose. but
offers a temptation to those who would
monopolize the production and the sale
of such articles in this country to profit
by the excess rate. On the other hand
there are other schedules in which the
tariff is not sufficiently high to give the
measure of protection which they should
receive upon Republican principles and
as to those the tariff should be increased.
A revision of the tariff undertaken upon
this principle which Is at the base of our
present business system begun promptly
upon the incoming of the new admins
tration and considered at the special ses-
sion with the preliminary Investigations
already begun by the appropriate COM
mittee of the house and senate will make
the disturbance of business incident TO
such a change little as possible.
Democratic Tariff Plan and Its Bad
Effect on Business Conditions.
The Democratic party in its platform
has not had the courage of its previous
convictions on the subject of the tariff
denounced by it in 1904 as u system OF
robbery of the many for the benefit of
the few hut il does declare its Intention