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About The commoner. (Lincoln, Neb.) 1901-1923 | View Entire Issue (Jan. 24, 1908)
JANUARY 24, 1908 The Commoner. 7 WmXtUr &Hi&:! tho republican administration organ in New York City, frankly describes Mr. Taft's effort as "largely a bid for Uie support of union labor in his campaign for the presidency." The New York Sun says: "That neither Mr. Taft's speech nor his answers to questions shed very much light on a great many of the subjects in which tho public is interested." This is fair criticism. Mr. Taft dodged any direct inquiries on the question on tariff revision, on the Brownville affiir, on the compensation of labor, on social ism, or on the immigration question. He even pleaded total ignorance of the latter subject. He did think that tho Sherman law should be amended, but did not exactly state how. The fact is, the secretary of war can diagnose fairly well the present diJHculties that beset capital and labor. But read his speeches and you will find that he is the man without a remedy. And even when he does propose something remedial, he either hedges it about with impossible limitations or postpones its application to some far distant day. Verily he is "the great postponer." He can argue against, even abuse, the remedies of others, as he did in Oklahoma. But he has no remedy of his own. c The Washington Post has secured a poll of the republican members of congress as to their preferences for the presidential nominee of their party. The result of the poll was a surprise. Perhaps it would be more significant had tho name of each member who expressed his view been given. Too often in polls of this sort the reporter is told by the distinguished statesman whom he interviews, "I am for Mr. So and So :flrst, last and all the time." x'hat statement goes into print, but within twenty-four hours the statesman who made it will tell the reporter, "You know I had to say that for publication. As a matter of fact I am for the other fellow." However, allowing for this human weak ness, shown most prominently in politicians, tho result o'C the Post's poll of the house is some- .what surprising. It would have been thought that Speaker Cannon who has thrice been able to be elected, without opposition, speaker would have led all the candidates. Yet the poll showed ninety-three votes for Secretary Taft, as against ihirty-nine for Speaker Cannon. In passing it may be mentioned that the, poll was taken of republican members only. Senator Knox re ceived, twenty-six votes. .Vice president Fair banks' twelve; .Governor Hughes eight;, Senator LaFollette five; Senator Foraker one; absent or non-committal thirty-five. The reporters who gathered this information Insist 'that while they are not certain that the Taft strength Is a per manent strength, they do believe that the show ing made for Fairbanks, Hughes, LaFollette and Foraker, does represent the "following of these men in the house of representatives. Many rep resentatives declared themselves for Taft, not being certain of the trustworthiness of their in terviewer, anl fearing lest they s,poke for Cannon the news would go td the White House. Many of these men,rin the judgment of the interview ers, are at Heart for Cannon, but preferred to conceal that opinion. ' fj WILLIS J. ABBOT. HOW THE PAPER TRUST IMPOSES ON .NEWSPAPER PUBLISHERS Writing to the New York Herald a New iYork newspaper publisher tells the story of tariff impositions in this way: The price of common paper and printing paper has been advancing during the last two years from $1.85 to $2.80 per hundred pounds, and this in carload shipments. The manufac turing magnates have the effrontery to declare that this flagitious increase is wholly attrib utable to the scarcity pf wood pulp in this coun try. This is a monstrous fabrication. The paper trust was one of the early com binations. To sustain prices here it shipped the over production (?) to England. These ehipments were comparatively small. Not until '1895 did they reach the $2,000,000 mark. Last year the exportations reached nearly ten million dollars. t The treasury department furnishes these figures: .Paper and manufactures of, exported for the year ending June 30: .1870, $514,592; 1880, $1,201,143; 1890, $1,226,686; 1895, $2, 185,257r 1900, $6,215,833; 1905, $8,238,088; 1906, $9,536,065. In 1905 the custom house "valuation" on the exports of printing paper shows a general average "of 24 cents per pound on 76,000,000' pounds. This was hot a net price, because we were openly and freely buying for 1.9 cents. As all the importing countries other than Eng land took but meager or natural supplies it is not an unfair assumption that they paid some thing more than the average price, and this would lessen tho English figure to something in the neighborhood of two cents. From this ap parent two cents are to be deducted the freight and insurance charges to Liverpool and the charges for transportation to London and Man chester, which would bring the price down to 1 cents. And from this are to bo deducted the seller's commissions, which brings down tho prlco to IVj cents per pound, less the interest charges on "time" sales and tho customary time on English purchases is four months. In 1901 American paper was soiling in London for 1 cents; and the export price was said to bo 1 4-10 cents, landed In Liver pool. Tho English manufacturer, always a very energetic competitor, howled over "the inva sion," but ho was powerless in being up, against a "dumping process" by a plundering corpora tion with a carefully studied motive. In 1906 the exports showed 106,000,000 pounds with an average price of $2.45 per hun dred pounds. It Is preposterous to suppose that tho export could bo naturally increased one third with a simultaneous advance In the price of ten per cent. This is an unmistakable case of "dumping." In 1907 the exports reached only 54,500,000 pounds, a drop of nearly one half, with a recession in price, the average show ing only 2 4-10 cents a pound. Those figures abundantly attest that the whole business has been a dumping process. When thoy had gained their end they cut the export trade. It is tho tobacco trust manoeuvre all over again. But the American purchaser during, the current year has been making good to the trust by the enforced payment of 2 cents on very largo orders, and In many cases for far ahead delivery, with the outside price running to 2 8-10 cents. The necessity for these immense ship ments ceased when the price reached tho neigh borhood of three cents the price which tho trust apparently set out to secure and the foreign shipments were cut off as far as they could be If this was a bona fide or a profitable business it would not have beon discon tinued. For fifty years the paper Industry has en joyed the stlffest kind of protection. For fifty years we-have witnessed the Rices and Cranes, the Russels and Warner Millers and other paper manufacturing legislators at Washington look ing after their particular interests. For fifty years we have patiently stood for protection often at great pecuniary sacrifice to our per sonal interest for the satisfaction of seeing 250,000,000 pounds of paper dumped abroad in twenty-four months at a much lower price than it is offered to ourselves, but with the comfort ing assurance that we are paying the customary profit to the plundering trust on their whole enormous output. ' ' There are only 763 pulp mills In the coun try. There are 30,787 publishing and printing establishments, employing a' capital of nearly $800,000,000. The value of last year'B, product was $857,000,000. And this meagre crowd of pulp makers, backed by tho Interna tional Paper company (and supported by tho money and political influences of tho Standard Oil company) are openly sweating this great in dustry (and have strangled its natural profits for the last two years) only because tho govern ment sanctions their extortion by upholding the tariff on paper, Is this not a business for the commerce commission to get immediately busy on? A KANSAS BANK PRESIDENT'S OPINION W. C. Robinson, president First National bank, Wlnfield, Kan., has Written for the Chicago Banker an interesting article from which tho following' is taken: "When an epidemic overtakes the country, thousands of people have a 'cure-all.' In tho financial predicament in which we find ourselves, I presume many have given you a formula for not only restoration of confidence, but to pre vent a recurrence of anything similar in the future. The west disclaims (and I think rightly too) any responsibility for the present unheard of conditions. It does seem strange that the closing of ono trust company in New York City should cause to be locked up, practically, the currency of tho United States. Don't you think so? Never before in the west has business been more prosperous or the banks better able to favor the people in handling their immense crops. The entire west looked forward, as late as tho latter part of October, to an unprece dented yoar an to easy and profitable) conditions in biiHincM, but our hopes were shuttered whan tho Institution so proudly named the Knicker bocker, couldn't pay any longer. Wo are told that 'it rains upon tho Just as well as tho un just.' This proverb is true as well m. 'the inno cent must suffer with tho guilty.' The west Is In this latter position, or maybe bettor, tho western banks find themselves in the position that tradi tion tolls us that 'Old Dog Tray did. This would not bo so bad were it not that our deposi tors find themselves in a similar position to the 'poor dog' that was said to have belonged to 'Old Mother Hubbard!' 'Her cupboard was bare, so tho .poor dog got none.' It has been very embarrassing to many and almost unex plainablo. It has boon my conviction all along that the presont condition In the money market should not have gotten further west than Now York. If the banks in the rosorvo cities outside of New York had taken the position that there was nothing wrong iu financial conditions, I verily believe that thoro would have been no excitement or uneasiness and that everything would have been continued normal. Tho people throughout the entire west have been loyal and prudent and have glvon tho banks the most favorable consideration. If this disturbance shall go down in history as a panic, it will bo named 'Panic of tho Bankors,' not a 'Panic of tho People.' Someone should suggest a bank ers' meeting and pass a resolution -thanking tho people for their prudence, good judgment, and fair treatment and then go into executive ses sion and pass proper resolutions concerning the bankers. Even if Chicago had stood firm and Insisted that normal conditions must prevail, tho entire west would have commended and would not have been subjectod to such humilia tion. In our own town, Wlnfield, with threo na tional banks and ono state bank, wo have gone right along as if conditions were normal. Wo have paid every deiyand on us and have ques tioned no one's checks. If It were not for news paper comments and tho talk of traveling men no ono would know that anything out of tho usual had occurred. We are not now therefore embarrassed as. to how to get back to the ordi nary routine of business. "Something should no doubt be done to pre vent such a condition in the future. What shall It be? We are now convinced that we must have the confidence pf the p.eople who have entrusted to us tholr money with which we are enabled to run our banks. Confidence Is the key-note abovo and bettor than asset currency, a central bank, omorgency currency, or tho guarantee of any association of banks. I am now, and al ways have been, a republican. Of all plans .sug gested, that made by the Hon. W. J. Bryan is tho best, to my mind. Let the government'.guar antce the deposits of all national banks; -bold ,tho banks responsible, and force them tp,pay. Have no guaranty fund, as this would tend to tie up funds, iln. case of a failure entailing a loss, have the ,loss assessed against the banks which would include all national banks. This would-insure absolute confidence. It would also .lead to -better banking as each national ; bank would watch every other national bank. ? It would tend to more rigid supervision and w.ould make what we now regard prudent banking even more so. Our treatment of the people would then bo the strength In our competition. If we can't have Insurance for national, Jank deposits, possibly the next best thing Is some kind of emergency currency, with a tax big enough to drive it in after it has served Its purpose." A NEW YORK SUGGESTION A New York reader of the World writes to that paper to say: "The newspapers, it seems to me, have gone daffy over candidates for the presidency. The election is some eleven months off. They have been whooping :;it up for about two years. I am an old-time democrat and learned politics sitting on an empty nail keg behind a wood-burning stove In a cross roads store In Bladen county, North Carolina. Let all discussion be dropped till next summer, and then when the democratic convention meets nominate W. J. Bryan for president with only one plank In the platform, and that taken from tho Ten Commandments,, 'Thou shalt not steal.' With that plank and that only, W. J. Bryan could win handfl down and all the people could unite on it. The Murphys and McCarrens, the Ryans, Relmonts, Dadys, Woodruffs and Depews would crowd to get on that platform. Then the weary would cease to labor and the wicked would bo at rest, and tho country would be redeemed from the sharks who overrun it."