The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1912-03-05
TENNEY TALKS
ON FREE SUGAR
Believes Taft Will Veto Any DEM
Ocratic Move Toward Reduc-
ing Tariff on Staple.
(TrOm Sunday 8 Advertiser.l

That the "free sugar. program
which is being urged in Washington,
and which yesterdays cables stated
Bryan had endorsed, spells absolute ruin
to most of the sugar plantations of Ha.
wall, is the talk among all the local
dealers in sugar securities. If the
sugar tariff is cut out, say the best in
formed plantation men, scarcely any
of the local plantations can survive.
In other words, the free trade plan
carried into effect means ruin to the
main source of the Territory Is income.
"There is not business house from
the waterfront to Vineyard street that
doesn't depend for its real income on
sugar property say business men.
If Hawaii loses large part of the
revenue that comes from sugar, and
she will under the Democratic program
of free sugar, there will be the hardest
tines here that Hawaii has ever seen.
What money comes into the country
now, comes mostly Tor sugar. If the
people here want to see some really
hard times, they will see them if the
Democratic free sugar policy is carried
out. -
Local sugar men are very closely
watching the tariff discussion. 1t is
recognized that the changer of free
trade' is the real cause of the slump
in the local stock market. The fall in
prices, following a period of rising,
may be traced almost directly to the
definite announcement that Roosevelt
is in the field as presidential candi-
date, for his candidacy is regarded as
adding good deal to the difficulties of
the Republicans in the national cam
paign.
q. ID. Tenney, asked for his views on
the subject yesterday, as leading
sugar factor in Hawaii, said that the
expectation of a Democratic administra-
ton was not a new one, and that while
it might cause some hard times, he
thought they would be temporary only.
The effect of the passage of the Demo
cratic measures would be a landslide
for the Republicans in the next cleo
ton, and the Democratic party would
be put out of business for twenty years.
"There are not many plantations in
the Hawaiian Islands that could survive
under free sugar. said Mr.. Tenney.
SIT may be that there are some that
could live. 1t would make a difference
of about thirty dollars a ton in the
price of sugar and anyone can see what
that would amount to- At present
prices of sugar, some of the planta-
tons might stand it, but the present
prices are not normal. Under the aver
age for many years past, free sugar
would put most of our plantations out
of business.
Thinks Taft Would Veto.
81 do not believe that the present
congress will enact any free sugar bill,
and if it did, / think President Taft
would veto it. However, a Democratic
congress might take such action and a
Democratic President would sustain it.
81 was one of those who predicted
Democratic administration to follow
the 1912 elections many years ago. 1
remember that when the first con-
gressional delegation was here there
was talk on the subject, and the fore
cast was made that 1912 would see
Democratic result. If the election goes
that way, and the Democrats begin to
put into effect the doctrines which they
are following, the country will soon re-
turn to the Republican policies. There
will be a political landslide that will
bury the Democratic party for twenty
years.
"The United States is a country of
high prices, and has been for over fifty
years. All this is based on the protec-
tion policy, and the whole populace of
the country are trained to it. Wage
earners who will get about half what
they now get, if the Democratic policy
is enforced, will not be satisfied if told
that every dollar has twice the buying
power it used to have. They will not |
feel that they are getting as much. The
country viii resent going ON cheap
basis, and the return to the Republican
policies will be very quick.
"I suppose it is quite likely that the
lower tone of the market here is due
to the tariff discussion. Naturally, in.
telligent investors take the proposition
into consideration.