Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1913-04-09
THE NEW TARIFF.
7 1F,,nm ~ tha Talapranh-Hera1d

ira session Of congress to be conven
ed on Monday next. The President
4 now Is holding: conferences with lead
ers Of the Senate finance COMMITTEES
with purpose to secure their agree
ment in the measure, thus ssuring II
Y the support; OF all democrats and set
Ting now all question Of its passage
Whether the bill shall be considered
slen bloc, or schedule by schedule. by
Il the congress will be determined by
{ the democrats in caucuses. The lat.
erS3wil be held after the congress
\ conyenes. ts:: s fss ii; 1. 81
1t Is stated on what appears to- be
high authority that the bill as agreed
4 to- by Mr.. Underwood for the House
!. committee and by. the President car
Ties these. among other provisions:
Free raw wool; $3I 81,
An average duty Of IS per cen. on
the manufactures Of wool; iE c
Reduction Of IS per cent. on cotton
manufactures; 81 81.
Free boots and shoes; "a s{
"a tar OF I cent pound on raw
H sugar, to be gradually reduced for
4 three years, when it will go on the
tree list; i
Free dressed meats. and duty of
y 10 per cent. on catLle; 55$5g
53. "A small duty on grain and hay, and
dairy products; s.
Reduction of 80 to SO per cent. in
the palmer grades Of pottery and
earthenware;
Timber, shingles and laths, free.
Agricultural and harvesting machin-
+ cry free; ~
Free print paper and reductions Of
y from Is to 80. per cent. on other
I grades Of paper.
This is by no means a complete
statement Of the provisions of the
B hull It hits seven Of the monopolis-
tic trusts terrific bloWs-the Beef,
Steel, Lumber, Harvester, Sugar,
Wool and Cotton Trusts. It is not by
II any means free trade measure. APP
parently the design in drafting it has
been to prevent the destruction OF any
4 domestic industry and yet to bring
y the duties to a competitive basis, put
4 ting American industries on an equal
basis with competing foreign indus
tries, but withdrawing all advantages
from them and compelling their re-
lfAnce upon superior efficiency and
y skill for control Of the market.
The bill will not satisfy free trad
h ers, because it was not framed to
please them, for the party made no
4 promise OF free trade in the platform.
That it will serve tremendously to
4 reduce the cost of living is obvious
u from glance at the articles free list
Vi ed. It will save to the pockets
OF consumers on the single item Of
free sugar alone. 5000. 000.0 year.
4s WHAT OF THE EoUiTARLE7
Nothing in the will of J.. Pierpont
u Morgan can be Of greater public i'm
portance than the disposition he has
made Of his shares in the Equitable
y Life Assurance society.
Possession of these shares gives
the control of assets of $513,319,2 POI
81 and surplus Of So, It af-
! fects the interests of more than $780,
600 policy holders insured for $1,429,-
n 211, 848, and 100000 to 100000
& beneficiaries. It: has been the prize
Of years of struggle by financial
giants; the cause of The World s
Equitable Corruption" disclosures in
4 1906, Of the Hughes investigation, of
In insurance methods.
In 1905 James Hazen Hyde was
owner Of SOL shares of Equitable
exander but about to come into Hyde
I control The rivalry between Hyde S
friends and Alexander's led to coun-
ter-accusations of graft and waste.
Hyde sold his shares to Thomas F.
Ryan for $2,5O0,OOO. They We're
worth at par $50,100 and were limit
ed to per cent. dividend, or $3,507
year. All that was paid for them
above $4,000 or so was paid for
control Of the assets.
Public protest forced Mr. Ryan to
promise naturalization, and to place
his stock for voting purposes with
Grover Cleveland, Morgan. ]. O'Brien
and George Westinghouse as trus-
tees.
sf Mr.. Morgan later bought Mr.. Ryan's
sol shares and few other, repaying
Mr.. Ryan what they had cost him,
with interest The trustees are now
Morgan, ]. O'Brien, Lewis Cass Led
yard and George w. Perkins. Mr..
Morgan is said to have sought to buy
all the shares as a step toward multi
alization, but some owners claim a
part OF the surplus and will not sell.
naturalization by legislative action is
difficult problem, not yet solved.
But solved it must be. The control
Of more than $500, 100000 Of trust
funds cannot be left dependant upon
the possession of SOL shares, the
sport Of chance and Of the accidents
OF human lite.-New York World.