Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1928-06-27
C.O.P.FLAYED

Continued from psge one)
and inefficiency il is paralleled only
by the disgraceful prostitution OF
power in states dominated by the re-
publican party. The assertion Of our
opponents that the democratic party
cannot be trusted to promote sound
business is totally false. The demo
cratic party has at no time interfered
with lawful enterprises IL is the de-
fender or legitimate business. What
other period since our government
was established compares favorably
with the eight years Of the Wilson
administration? The boldest cham
pion of the opposition cannot recall
another time when prosperity was
more general. Tested by the usual
profits, we find those eight years
among the most glorious in all u
country's history. Labor was profit
ably employed; industry operated full
time; agriculture was on an equality
with other businesses.
The prosperity Of the present BY
no means equals that under demo-
Gratis control.
Points 70 Failures
The facts Of the whole do not
Justify the boast in the Kansas City
platform.
The secretary Of the treasury adj
mits in his annual report for 1927
that conditions during that year were
worse than in 1926.
The presidents industrial confer
ence board asserts that business pros
perity in the United States Is con-
fined to giant corporations. The bu-
reau of foreign and domestic COM
merce examined 10000 concerns in
1927 and reported $4,000 Of them
earning no profits whatever.
The commissioner of internal rev.
enue states that only three-fifths Of
the corporations manufacturing
leather products reported net in
comes for 1925.
The record Of commercial and bank
failures reflects the falsity of this
claim Of exceptional prosperity.
In 1919, only so state banks and
four national banks failed with ag-
gregate liabilities of less than
si2.O0O.o 900; in 1925. SOL state banks
and 1OS national banks with total
liabilities of SITS. 000. 900 passed into
receiverships. Note the figures for
1926: Seven hundred and seventy
two state banks failed with liabilities
of $685. ZOO. 900. The data for 1927 IS
incomplete but IL shows total liabil-
tiles Of state banks which became in
solvent during that year in excess Of
5000, 600. 200.
Saws Farmers Betrayed
What are the facts with respect
to commercial failures? There were
% per cent more in 1927 than IN
the previous year.
Annual farm products decreased
more than 81 .500,000,000 comparing
1924 with 1927.
The bureau Of labor statistics re-
veal a 20 per cent decrease now In
employment over 1927.
The depressed condition Of agri-
culture is Of common knowledge.
This, the greatest Of all industries,
has been steadily declining SINCE
the republican party initiated its
Of 1891. Every one knows
that agriculture has been going
backward since Wilson's administra-
ton ended. Never before has there
such discomfort among farm
producers. They attribute their dis
tressed condition to the policies OF
the republican party. Why should
they be forced TO sell their
products in the open markets Of the
world and TO buy from trusts and
.monopolies which arbitrarily fix the
prices of their commodities-an un-
just and oppressive system made
possible by excessive tariff duties?
The Importance Of this fact is m
phasized BY the repeated refusal of
the republican party to grant sub
.startial relief. The farmers Of the
are awake TO the issue. They
are ready, If afforded the ppor-
to safeguard their own in
through political action. The
republican party has betrayed the
farmers Of the United States and
with new false promises. The only
measure for farm relief
by the Kansas City platform
p~erience shows cannot be effective.
Tariff Not Solution
The economic equality of agricui-
.ure with other industries may be
promoted by reducing the tariff on
manufactured articles consumed by
farmers: by a system OF export de-
bentures; or by adoption OF the
principle of the MeNary-Haugen bill.
such equality can never be estab-
ished by merely raising the tariff
N products which are grown in sub
surplus over domestic re-
This convention should invite |
support from farmers by declaring
adherence to these principles.
The mingled stupidity and auda-
lily which prompted tire Kansas
lily convention 10 boast a prosper
ty evidenced BY insolvert banks.
'ankrupt farmers aud merchants.