The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-07-26

favor o tariff % not loss than two
cents pcr gallon on oil imported into
this country Of Whatsoever grad" or
quality. We believe that such t3riff
II necessary for IN" proper prScc.
tion and stabilizatlyn Of the price VI
crudo oil and refined products IN
this country
W. wish 20 direct public atton-
ton 10 the fact that tho principal
Industries Of the Mid-Contincnt tor
ritory ARE oil. cattle and cotton. ana
~ the further fact that the leading
products Of these industries. VIZ oil,
hides and cottonsccd oil were placed
on tho free list In the permanent
tariff bin recently passed by con-
grcss
Tho Standard OH Trust defeated
! the tariff on oil, the leather trust
defeated tho tariff on hides. and
/ tho soap and cooking oil trusts DC
i fcatod the tariff ON Cottons''d on.
We respectfully remind the ON
cials Of the party In power at wash
Iugtou Of the promises made during
tho last campaign 90 enact tarltt
law that would afford protection To
|aII American Industries. alike. ana
we ospcrialiv refer 10 the promises
mndc ny President Harding in his
speech made At oklahoma city last
fan.
We ioin with the cattlcm"u. the
farmer and other producers OF the
United states who have been dis
criminatcd against In the present
ltarlff bill aud pledge our hearty
'suuport to an organized movement
to induce tn, sNIatc Of tn" United
states to write and enact a tariil
law that will ,uuali1e the cost ol
production In this country with tha'
Of foreign countries without dls
elimination against any industry OF
section Of our country
score Federal Reserve tanks.
. A resolution was presented hrfor'
tho meeting 10y NJ G. French o
IDkmlurcc. Okla, asking for an i'm
mediate Investigation of the action
land policies OF the fedora, rcsrrN
hoard 10y the federal trade cumWH
sion, which was passed unanimous
n.y. In a speech tnvuriuE tho icsp
, |lutiou Mr.. French brought ou
, many additional facts regarding Ia
situation, and made the statement
y chat the United States was tn
b | richest country Iu gold in the Worlo
1 that statistics showed IA" banks I
/ Dee In better condition than since ia
war ended, ana that shipments q
gold from foreign countries wcr
being constantly received. swellln
this country 3 already large shppl
of that metal. sull, the bOrrowiu
power of the oil industry no matte
| how large the security, Is almo'
! nothing"
Tho tcNt ~ the resolution passc
Is given as follows:
!, Whereas. 1t appears that tho FED
r cral rcscrv, board. under tn" pr'
Z tense of checking speculation, som
A 10 months ago started a campnig
q Of curtlilmcut and d"tlatiun
cycdits aud Subsequent boarding ,
, gold reserves, much beyond the r.
uuircmcnt OF law and business II
tcrostS, and
- whereas, the Federal Rcser,
= banks on July 10, 1921, had S2,6t1
20 $4,000 In reserve, of which s., Az
= coo 900 was gold and the balance
. currency, silver, etc. and
II Whereas it appears that q
n Standard oil company and subsidii
II rics. together with affiliated col
10 Germs. at the same time started
l. campaign of boarding money by Il
l. floating OF nearly n billion of It's $
AZ curitics and the borrowing OF a
1. proXimatcly S5bO,OOO.OOO OF mon
n. from tho Federal Reserve bani
IN which they did not need and whi
Iy 1t appears was only for the purpo
=. Of boarding ana at a time when I
I. federal reserve board were attra'
~ ing the credit Of the country a
forcing thc banks to liqu.date pra
tically all of their redisCounts, tn
u, forcing the banks to collect fro
rvs their Cusl omcrs to an extent whi
]
or not only in the oil business but n
tie affected every farmer, labor!
as man, industry and business cnt'
he prise in the country and has Caus
millions Of men 10 hc thrown {
"a, of work and employment, and I
he spcctor of starvation t. st,
,is through the land, and
he Whereas. thTc has been shipu
ch into this country during the past
moDths an average Ut $5O,OOO,OU0
gold, or a grand total Of SJuO,OO
600, which, If the federal resei
board were not pursuing pol
Of repression, the country with 81
a flood of gold coming into
country would now he at It's nom
~" condition ana prugrcsslNencss OF
'H tho Industries would be unqu
toned, and
Whereas, it appears from the *
cral existing conditions through
the oil territories that there Is
conspiracy between the federal
= serve board and the Standard
company, together with its aft
, atcd interests. to carry on a ca
q paign for the dcstructiO OF indcp
70 dent operators and the purchase
, their holdings, thereby gaining c
troll OF the production OF the in
,,-o / pendont operator and the uitin