Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1910-01-12
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:
When Senator Aldrich and Congress
man Boutell made their gallant de-
Tense Of the high tariff ON imports of
textiles they urged the necessity OF
projecting the mill workers Of New
England against competition from
what they termed the 'pauper" labor
of Europe.
lncidentally-just as matter of
coincidence-they declared their be-
lief that only by an import duty on
textiles could New England mill mag
mates be guaranteed the reasonable
profit" which the Republican tariff
plank OF 1908 promised to all Ameri;
can industries.
To show how far from tottering ON
the verge of ruin are the textile mo-
nopoltsts of New England, we publish
aafew figures on the earnings OF few
leading textile companies for nine
years and their financial standing:
Total return to
Present shareholders Present
Am0skeag rs
ME. Co.$b, a6O, 900 $6.5sS.7b0 $4.139,9s2
g, gin mills l,ooo,ooo 100000 l.o4o.2ss
Go. 100000 $4,000 i.sasses
B o rden
Border city cit; i'000'V00 i,oss'ooo o00''''
Mfg. CO. 100000 l,255,ooo 1.o5s,sss
Mfg. Cor. 100000 2sso.ooo 1o5l.2ss
Mfg; Co 100000 100000 ss7.4lo
Mills 100000 2570OOO S11,O84
Laurel Lake
Mills COO, 900 732. 900 235.OO0
l. q wrence
Mfg; Sc Co. l,sso.ooo b4ls.ooo sss,7lo
Mills 4 100000 l,o44,ooo l,7i4.a2o
Mills 100000 4,ssoooo 5.sss.ses
Mfg. Co. 2,556,ooo 5,s5s.24o i.sa4,s12
Sycamore
= Mfg. go GO. 100000 i.oes.5oo sos.7s4
ton and
Wooden
Mfg. Co. 100000 95S.5OO 369.l52
Union Cot
ton Mfg.
Co. -. 100000 2,361,00 572,545
The table shows that on $25,OOOOOO
of Capitalization the cotton magnates
have reaped profits of more than $4S,-
100000 in nine years. This is the
reasonable profit" promised Ameri-
can industries.
Massachusetts, bureau of labor states
that the average weekly wage in these
cotton mills is 1892. This is the mar.
velous result of shutting out Euro.
pean 'pauper" competition.
Autobiography Protection,
The issue between the Republican
tariff insurgents and the reactionaries
has not been more clearly stated than
by Senator Clapp. of Minnesota, in his
speech at Milwaukee. THE recent tar.
iff struggle" said he. was in no sense
struggle between protection and free
trade, but degenerated into struggle
between monopoly on the one hand
and the true friends of protection on
the other"
1t is well to bear this definition in
mind. 1t will be remembered that
Senator Cummins and the rest OF the
Northwestern Republicans have, all
along, declared their allegiance to the
Republican principle of protection.
Their objection has been only to the
excessive protection which gives the
protected interests close monopoly of
American industry and clothes them
with undue power to exact burdensome
tribute from American consumers.
Thus was, substantially, President
Taft's position all through the presi.
Dental campaign Of last year. 1t was
the tariff policy amblguously promised
in the Chicago platform. On no other
platform could the Republican party
have won the great victory it did.
With full experience of the extortions
OF monopoly tariff. as illustrated by
the Dingley act, the people of the
country. in both political parties, have
made up their minds that they Will
not submit to private taxation levied
In the name of protection to American
industries.
The agricultural constituencies OF
the West were long deluded with the
cry that high protection was necessary
to make home market for their prod.
/. ucts. Finding that they have been pay.
ing for this market vastly more than
1t was worth to them, or than. was
necessary in order to keep 1t, they
have gone into revolt against the sys-
tenn.
The revolt will not become less de.
termined than 1t has been in states
like Iowa and Minnesota for years. or
than 1t is now in practically every
state west Of the Alleghenies. From
the Republican viewpoint. Senator
Clapp could not have stated the real
issue more exactly than in saying
that, so far as the tariff is concerned,
1t is to protect American industry,
where 1t needs it, from foreign compe-
tition and at the same time to pro-
tect the American consumer from the
unjust exactions of American monop.
oily.
Democracy and the Trusts.
The boast of 1.-THE Chicago nlatforu,