The Wilson times. [volume] (Wilson, N.C.) 1896-19??, 1911-07-11
WASHING
TON LETTER

tBy Trevenner, our Special Corr
Washington, July 10-President
Taft will be opposed by progressive
Republicans for denomination on
the ground that he is still the mouth
piece of Aldrich and the great law
defying industrial corporations of the
country.
If proof was necessary to show that
the old alliance between Taft and
Aldrich still exists, the President him.
self furnished it on two notable occa-
sions within the last couple of weeks
when he went out of his way to in
dorse the Aldrich near-central bang
scheme which is designed to give
Wall Street absolute control of the
money and credit of the United
States, and thus make it the abso-
lutte master of business and industry.
Progressive republicans contend
that if the President should be re-
| nominated and reelected che would
continue to be the comp1aisant help
| mate of schemers like Aldrich, who
are striving constantly to make the
great masses of the public little more
than the serfs of the few men who
| compose the great financial combina-
| ton, of which J. Piedpont Morgan
and the Standard Oil capitalists are
the most conspicuous figures" And
| Mr.. Taft now publicly confirms the
fears of the progressives.
| Therefore, the only thing left for
the public to conclude is that Mr..
| Taft's reelection would necessarily
place back in control of Congress
the same class of men who were
swept out by the indignation of the
public in the last election.
The Democrats are sincere in
| their efforts to run the House OF
Representative on an economical
South, chief clerk of the House, just
made public, shows that during the
month of June a saving of $S,561.9
was effected as a result of the abol-
fishing of useless Offices This item,
which does not include the big re-
tduction on the police force which the
Senate has not yet cOncurred in but
will approve shortly, means a saving
Iof $102,742.80 in year.
This is not stupendous sum, it is
true, but the spirit is in striking con.
trast to the $35 wastepaper baskets in
the Offices of Postmaster General
Hitchcock and the expensive recrea
tions taken by the Aldrich monetary
commission at public expense at Mar
ra ganSett pier.
Real Revision Downward
The wool BILL passed by the
Democratic House but not acted upon
as yet in the Republican Senate, re
duces the tax on cloth out of which
the poor mans clothing is made, from
$50 per cent to from 25 to 40 pei
cent; on womens dress goods from
$50 per cent to from 80 to As pei
cent, and on blankets from 100 pei
cent to 80 per cent.
Facts About Steel Trust.
The restriction of competition
which is in violation of the law, was
the prime object of the organizers o
the United States Steel Corporation
according to information which has
. recently come to light in Washington
When formed, the steel trust hat
property valued at $682, 100000. Bu
it was capitalized at 81, 1,402, ,000,0
Of the capital stock $72O,000,0 900, o.
more than half, was water. Three
partners of J. P. Morgan advanced
$28, 100000 to finance the trust anC
received stock worth $90,500,000. The
average rate of profit from 1901 Z
1910 on the corporations actual in
, vestment was II per cent. Although
j; this combine is in existence in plai1
violation of the law, the Taft admin
istration refused to prosecute it. The
, Taft administration, however, coop
Grated with the steel trust by givins
secrets of our battleships to foreign
nations with the understanding tha
in exchange for these secrets thu
countries thus favored would give {
substantial contract to the steel trust
!. tThe man who permitted the exchange
tof vital government secrets in ordel
that the illegal trust could increase
its dividends was Philander C. Knox
now Secretary of State. Mr.. Kno1
helped organize the steel trust ant
went from the position of steel trus
attorney to that of United States At
torney General.