The Irish standard., 1910-01-29
The NATIONS CAPITAL.
What the Figures Compiled
From Bradstreet's Show.
"Champ" Clark May Be the
Democratic Nominee.
Some of the Insurgents Are
Not Progressives.
Speciar to the Irish Standard:
WASHINGTON. Jan

Speciar to the Irish Standard:
Washington. Jan. rs.
Figures compiled by Bradstreets on
the prices of ninety-six commodities,
all of which enter into the cost OF
living, show that on January l, 1910,
these commodities reached new high
record, costing Ill per cent more than
on January 1, 1909, and 81 per cent
more than on July 1, 1895. The re-
ceipt of this information in Washing
ton aroused the keenest interest. The
high cost of living is more and more
engaging the attention of public men,
not only as a source of hardship which
should be dealt with, but a.
political factor which will have its
effect in the next campaign. Mem
bers of Congress, even those, unwilling
to discuss obvious causes, freely ad-
nit that the advanced prices and the
constant upward tendency afford
reason for alarm to the dominant par
ty unless measures can be devised to
afford relief. 1t is easy enough 70,
statesmen to assert that 'the tariff
has nothing to do with TIM increased
cost of living" but even those dyed
in-the- wool protectionists who are
saying it realize their position will
not in itself satisfy the consumers,
who, according to reports reaching the
Capital from all parts of the United
States, have become thoroughly inn
bued with the idea that the only hope
for lower prices is in honest down.
ward revision of the tariff. The fg-
ures just issued by Bradstreet's are
of the utmost importance, and were
appreciated here as such. The result
of tile compilations, given in Index
numbers" shows that the cost of liv-
ing has now reached an absolutely high
record, exceeding even that of March
/, 1907, when prices went soaring in
anticipation of the panic which came
in the fall of that year.
Thirty-five per cent is the amount
of profit Armour 6, Co. forced the
public to pay last year.
This fact has been ascertained Ivy
g. Co.. in connection with the listing
Of bond issue of $3O,OOO,0OO on the
stock exchange. The company by it's
own showing made a gross profit of
$1O,5s2,O for the year 1909 on a cap
ital stock of $20,oOO,O0o and earned a
surplus of $7,127,926, or the equivalent
OF a dividend of 35.6 per cent. So far
in 1910 the price Of meat has been
higher than in 1909, which would make
it appear 556 per cent profit on cap
ital stock is not ample, even though
the commodity concerned is one of the
necssaries of life.
The revealing of this enormous
profit would seem on the face of 1t to
require a modification of the explana-
ton Of the high price Of meat recently
made by the chairman Of the packers
committee. That explanation was in
], effect that the packer, being obliged
to pay q higher price for livestock,
passed on the additional cost to the
7 dealer, who, in turn, shifted it to the
consumer. This, however, is not the
whole story of the rise Of mess beef
from 1886 barrel in 1906 to 1890 in
1908. For its full understanding there
4 must be taken into account the millions
I in surplus profits reserved by the
packers to convince Wall street of the
!. safe and lucrative nature Of their bust
ness.
Mi 1t is generally believed that the de-
partment of justice will have little
trouble in convicting the beef trust of
Z being in existence in violation of the
Il anti trust law, or of proving that Ar
lmour & Co., Swift & Co., Morris &
Co, and the National Packing COM
/. pany are in conspiracy to control
q the price Of beef. 1t has long been
& charged that the National Packing
N company is controlled by the three
II other concerns named. These COM
4 panies, it is charged, control the price
n of beef through their control of the
u National Packing company.
ssssa8
Champ Clark of Missouri, viewing
y the situation from the inside, in my
Sopfnion stands the best chance of be-
ling the Democratic standard bearer in
ssl912. Why? Because he is the one of
Sssall those who have been mentioned
who could come nearest to receiving
the support of all elements of the par
Essty. You can quote me as standing
pat for Champ Clark. am not
u llone."
In these words Rep. Thomas M. Bell
ygSAaIof Georgia, Democratic whip Of the
Tkaouse of Representatives, added i'm