The Delta independent., 1924-10-03
WISCONSIN OPINION
OF LA TOILETTE

wall Street. the Holy OF HOLES, the Sanctu
ary around the Altar stand the sugar refining compan
les SO closely connected they with the largest bank
ing interests there those interests that Senator La Fol
ette has often thundered against that you hit
you are certain to get cry from the other
So intimately connected are these two Wall Street
interests that hardly printed circular market letter of
prominent New York National Bank is issued but what
it mentions something about Cuban sugar 1t is not
secret that during the late financial panic, when every
bank in Cuba not connected with Wall Street failed,
hundreds of millions of dollars worth of Cuban
properties fell into the hands of these Wall Street banks
and since the financial skies have cleared ''have been
allotted to stronger hands their circular letter states
In plain language they have been turned to the New
York refining interests at bargain prices.
An investigation will disclose that rs to 90 per cent
of the sugar produced in Cuba belongs outright is
troed by this immense aggregation of capital centerng
around the Altar in the Holy of Holes of Wall Street
No other single interest has much of the capital of
Wall Street The railroads which have for years received
the attack of Senator La Toilette do not belong to Wall
Street but the property of the widows and orphans
dependent upon the investments of life insurance
panes, and the savings of worknen deposited in the
savings banks renvested by them in their stocks and
bonds The sugar refining companies stocks and bonds
however peculiarly Wall Street investment because
of the great profits they have made
The president of one of these sugar refining companies
testified before the Senate finance committee that
billion dollars of American money had gone out of the
United States into the business of Cuba What
immense difference would have made to the American
farmer if this large of money had gone American
farms rather than upon Cuban!
1t is this large aggregation of capital the greatest
monopoly of Wall Street, that Senator La Toilette has
allied himself with when he seeks destroy the Amer
lean sugar industry by reduction of the tariff sugar
Purposely by propaganda, a confusion exists in the
minds of most Americans regarding the business
Nearly everyone thinks all sugar is controlled by trust
This is mistake and is not true, We get sugar
from two Either from tropical countries
from the United States. Nine and half per cent of
Hawaii. min and half mt
Porto Rico and the PHILIPPINES combined; twenty-five
and half per cent from and beets grown in the
United States, while the remainder nearly sixty per cent
comes from Cuba 1t is this Cuban sugar owned by the
immense sugar refining interests of Wall Street ten
times powerful than the old sugar trust that
the so called Sugar Trust.
Sugar is grown, it is not made 1t is the product of
the farm Shall American farmers grow it, or shall it
he grown in Cuba7 In order for American farmers to
grow it, it is necessary to have reshing machines to
thresh the sugar from the beets These threshng ma
chimes (sugar factories) cost large amount of money
to build and operate The farmers do not have the money
to do this they compelled go to capitalists and
ask them to come in and furnish the money The sugar
refining companies of New York who control Cuban
this huge aggregation of Wall Street capital not
yet having complete control of the sugar market Of
America her competition is the sugar grown by Amer
lean farmers American farms) are seeking in every
way they can, to discourage American capital from in
ycstng in these sugar threshng machines the farmers
must have.
To meet the competition of cheap negro labor extra
cheap in the tropics, the American farmer must have
protection. If there is any benefit to be derived
from the tariff the American farmer is the one who gets
ii and no else These woud-be completely mouopo-
lstic Wall Street sugar refining companies know this
and striking at these farmers by making il impossible
for them to interest capital in building more sugar fac
tories. Immediately after the passage of the ForGnev-
McCumber Tariff Bill, hardly before the ink was drv
before it could be given trial they brought action
before the Tariff Commission seeking to have the tariff
reduced. 1t the OF Nyho
action; it is the producers of foreign grown sugar these
Wall Street refining companies They wish to gain con
troll of the whole American market and their only barrier
is the American farmer 1t is with these Wall Street
hgh bndersN who hnNe nthnr intnrnst Lut tn linn