The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1918-04-07

! The Webb export bill Is an after
the war" measure framed to suit the
System" The System" is intended
to- be one Of world-control. II de-
veloped through the Spanish war out
/ OF the civil war In the United States.
The profiteers OF that period who put
over a good thing and got away with
| 1t, began the System in separate
monopolies. between 1870 and 1850.
Some of them we're monopolies OF
natural products, as oil, choice iron
ore. and other ores and coal. Others
were partial. monopolias in manu-
featuring, supported by "the war
tariff" As the tariff taxes Of the
civil war'kept out foreign goods until
the home market" became overload
ed by the work OF our own factories,
American-made goods might have be-
come cheap for Americans. But as
the System began to work, the
surplus, weighing down the(market"
was exported and sold abroad for
what 1t would bring-below cost,
II necessary.
The System was organized for ex-
porting on the base OF selling cheap
to foreigners whenever 1t was neces-
sary in order to sell high TO Ameri-
cans
Let US get that point and hold It.
Il is the point OF the Webb export
bill" as the House yesterday adopted
the report OF the Conference Com
mittee on Il.
When "the System" has pro-
gram, it is damned through" finally.
Opposition is practically useless. Still
Hon. Andrew ]. Volstead, of Mime
sofa, protested. He put on record
the fact that the purpose Of the bill
aside from stimulating export trade,
was virtually to repeal the antitrust
laws, since as 1t did this for export
trade, the export business and the
business of the American market
would be controlled together in mar
keting the surplus to foreigners
Mr.. Volstead said that there vas no
question that the antitrust laws are
being violated daily fright and left"
by profteers, organized to use the
calamity Of war for their own ad-
vantage The bill was framed for
their advantage, and there ought to
be no concealment Of its purpose Of
monopoly. II the House wished to
repeal the antitrust laws, it should
do so openly.
As the House took up the river
and harbor bill, debating it all
afternoon without concluding. Mr..
Huddleston, of the Birmingham, Ala,
district paid further attention to
the System. -,,.-----;z - g. p
3 He read a report Of the American
Steel Corporation or "Steel trust"
for last year. He said that it was
intended to cover up not to disclose
the real condition of the business.
An expert accountant might be un-
able to get at the facts clearly from
it, but as far as they appeared, the
trust was shown making net profits
for the year of 1904 900, 900. On his
own estimates, calculating by per-
centage from the company's taxes as
paid to the United States Govern
ment, the net profits were nearer
seven hundred millions. Assuming
a lower figure, he estimated nearly
80 per cent profit on watered com
mon stock. Comparing British and
American war taxes, he found that
the trust was now paying the United
States sl57 100000 less than the
British government would take If it
had it under its jurisdiction. As
boys were being sent to give their
lives in the trenches, he thought the
United States might demand war
funds instead Of begging them.
1.-THE System" since 1900 has been
in control of American policies in
World Politics" and during the
same period it has co-ordineted and
unified itself with the money-issu-
ing banks.
Mr.. Huddleston reviewed systematic
financial results briefly, showing the
effects Of initiating or watering" the
currency. As the amount of money
in circulation had been inflated from
So to S4S head OF population dur
ing the war period. he showed that
this had cut the dollar down from a
hundred to seventy-nine cents in buy
ing power. The result Of imitation
had been a carnival Of extravaganza,
due to "overstimulation." While the
salaries Of all who work at fixed rates
and could not profiteer, were cut
down in proportion to the imitation,
the era Of speculation forced by such
conditions resulted in the extrava-
gance and profigacy Of 10Y ride
At the beginning Of the war, the
System made the price of its sup
rort the Coordination and unifica-
ton" Of the United States Govern
ment with its plans for a "new era"
after the war. "The System" was to
control America and the world. The
records Of the Hog Island investiga-
ton before the Senate Committee on
Commerce may be co-ordinated with
House proceedings yesterday. Put
ting two and TIVE together to make
four is not really so difficult that
only a $4,000 year Hog Island ex-
pert can do it. Think it out. Study |
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