New-York tribune., 1912-02-11
SILK ASSOCIATION Dimes
Senator llppitt Says Tariff Has
Not Created MonopoIies.
SEES DANGER IN A CHANGE
Declares Reduction Would In
crease Imports and Throw
Thousands Out of Work.

More than six hundred members and
guests Of the Silk Association Of America
attended the fortieth annual dinner Of the
association last night at the Hotel Astor
The diners were summoned TO the banquet
han by the sounding Of trumpets and they
! remained standing while the invoca .ior
. was delivered by the Rev Edward Vernon
N'ckrey' assistant general secretary of the
Missionary Educational Movement
| The speakers were Jerome c. Read. prcsl-
| dent Of the association, who was toast
master; Henry F. Lippitt, United States
I Senator from Rhode Island, Joseph w.
Fordney. member of the Congress Ways and
! Means Committee, Of Michigan Edward c
Stokes, former Governor Of New Jersey,
and the Rev. Nehemiah Boynton. pastor o.
the Clinton Avenue Congregational Church.
BROOKLYN.
Seated al the table with the speakers
were George Wurts. Fraucis W Bird Will
lam r. Wilcox, of the rrlblic Service Com.
mission; Controller Prendergast Akir1
shito, OF the .Tapsnese Embassy. and T.
Ohta. Vice Consul Of Japan
Senator I.ippitt spoke against the agita-
tlon for change In the tariff laws. and
as saying that the tariff DESTROYED compe-
tition, enabled capital 10 obtain undue
profits and established monopolies, added
That labor has been well employed, that
in general way wages have been twice
those paid abroad, II not criticised But
a IS happened in the carly 9gs, prosperity
which We all advocate in the abstract is
objected 10 IN the concrete, and II ia pro-
posed that I'm some way through tariff
changes profits Of ca ptal shall be regulated
without Interfering with the wages Of la
Dor, and, inspired particularly by the rep
resentatives Of agricultural districts in.
surgent Democrats the attack has centred
upon the woollen and cotton textiles
Domestic competition has asserted tts
power. The rush Of idle capital TO the
point where capital was remunerauve has
had It's inevitable effect, and az this mo-
trade whether cotton, woollen or silk that
Is feeling the pinch more severely than
those same heretofore prosperous mills OF
New Bedford Six 70 per cent has been
fhe average return upon investment In
those mills for the last twenty years.
I think the country will be surprised 10
find under the extreme competitive condl-
tions that exist in that Industry TO-DAY
made cotton fabrics are being sold In
fact II NAV be shown that some OF these
are actually being sold in New York 70.
day for less price than they can be oought
on that basis for they are being sold not
merely without profit. but In many cases
an an actual loss. But that this condinon
could exist AZ all shows that dotnsstS
competition IS still here in full force. ana
II Is old. fashioned competition reinforced
and intensified b. new-fsshioned efnc'enry
methods.
Now. about monopolies and trusts. I sup
pose II is true that II II We're posslole 10
combine 2 great industry into singl" or
even into = thoroughly harmonious control,
the effect of domestic competition might be
modified Whether this has occurred In
other industries or not " is manifestly true
that no such thing, nor even any approach
10 any such thing. has occurred IN elther
Of tho three great textiles.
Tariff reformers hope 10 tempt the agrl-
cultural vote by putting % per cent duty
on wool. but will only add 20 per cent lor
wears there has never been less than % per
cent Even under present rates some 10
ON 90 worth or such goods are being I'M
portcd and the refcrmers admit tnat sfV. =
~ n)o more will be imported under TINS ne"
What II would mean no one knows Forty
-,IIlIors ~ dollars means 10 per cent or tne
Woollen ia briCS now being mdut III !'IIr :
country. That means that one loom out OF
syar,. ten must stop, that ten operatives
~ c,erv hundred must lose their EN-
yom can have cheaper textiles. but you
,,r orIy have them provided YOU are VIII
inc 10 take them through me Goor ol eo, ~
., ,be American mill. What IS done on thls
,t,,ter affects to-morrow's bread; LSt tnN
n.onie instead of legislatures elect your
so,,tors adnnt the referendum, the lnltl
ative and tho recall. ana ptrnSSP&s p v,,ts iss5o,o,
cbiidren's children can Judge 81 its WISDOM
NiaLc a mistake here and In mohtn idC
"ajH. riosc wealth sCatters and childTen
starNc