The Irish standard., 1910-01-29
TRUSTS AND COLD STORAGE.

TRUSTS AND COLD STORAGE.
Those who studied political economy
based on the teachings of Adam Smith,
author of the wealth of Nations"
were taught that articles desirable for
their use were enhanced in value by
being limited in supply. In other
words, the scarcity Of commodities,
according to Smith, was the cause of
high prices and their abundance of
low prices. That doctrine does not
hold good today in this country If
Father Phelan, of the Western Watch
man, is to be believed. He claims
that it is scarcity causes low prices
and abundance high prices, and he
proceeds to prove it as follows:
why is the cost of living SO high?
Why have we to pay so much for
everything we eat and drink? Red
meats and white meats and all vege-
tables are selling at price beyond the
reach of the ordinary wage Garner. Is
it because of any scarcity? No. On
the contrary it is by reason of our
abundance. In five years there never
We're so much meat eggs, butter, fruits
and vegetables in the country as now;
and never in the history of this or
any other country were these neces-
saries sold at such a high price. The
hens are laying their wonted number
of eggs for this season of the year;
and according to recent report of
the Warehouse Commission there are
100000 dozens of eggs in cold stor.
age. Yet eggs are selling from so to
rs cents dozen. The West and South
West are producing more beef cattle
than ever they did. Besides there are
200, 100000 pounds of beef in cold
storage. Yet beef is selling at a price
never before reached in this or any
other country. The explanation is
very simple. s.
1--WE have discovered. that by cold
storage food can be preserved in.
definitely. When 1.-The Booth Fish
Trust went into bankruptcy in Chi
cago it came out that the whole ter
ritory supplied by that gigantic trust
had not in ten years eaten a pound of
fish that was not five years out of the
water. All the fresh SUPPLIES were sent
back to the rear of the stores and on
ly the oldest brought out and offered
for sale. This explanation will do for
all the cold storage trusts. When
there Is abundance in the land they
buy up everything in sight, paying
enough to drive away competition.
One of the paradoxes is this high
price of the country's products in
prosperous seasons and in times of
plenty. All the abundance finds it's
way into the coolers of the refrigerator
trusts, to stay there until the market
is cornered.'
Father Phelan's explanation is salts
factory. The trusts are at the bottom
of the high prices. Destroy the trusts,
of which high tariff is the prolific
mother, and the high prices will van
ish. But, says Mr.. Taft, there are
good and bad trusts. Indeed! Would
he kindly name the good trusts? Are
they the trusts that contributed to his
election?
The Republican party Is responsible
for high tariff and consequently for the
high prices Of the necessaries of life.
1t will come to grief in 1912 for its
recreancy to the people whom it
promised to relieve. In accordance
with its platform it should have re-
duced the tariff instead Of raising It.
Taft could have vetoed the Payne
Aldrich bill and saved the people from
highway robbery. but he preferred to
sign it and then laud it as the best
tariff bill ever passed for the benefit
of the American public.
The voice Of the American people
Is now heard all over the land, pro.
testing against high prices brought
about by Republican legislation. The
party of Taft is dominated by the
trusts and to the trusts must Taft
look for second term. Can they
elect him? We opine not, if the people
are educated to think for themselves
and act independently in the next ma
tional contest. They are now paying
for loyalty to party principles in the
high cost Of living.