The Commoner.
.OCTOBER 25, 191J
tho country secretary of the treasury, and Cor
telyou prohiptly dumped into Wall stroot $25,
000,000 of tho government's money. ,
Morgan appeared In Wall street with his and
the treasury's millions, stopped the panic and
was acclaimed hysterically by tories and fools
as a savior and a benefactor.
All these truths the North American told from
each dark day to day during all tho deviltry of
that needless distress to every honest American
business man. Earnest as was our support of
Roosevelt's policies and patriotic achievements,
our readers must recall that our criticism of
him at that time was unsparing In our declara
tions that with tho purest purposes he was be
ing "gold-bricked" and deluded to his own and
the country's hurt by unscrupulous conspirators.
Wo believe that the North American was vir
tually alone in showing with daily persistence
that it was an artificial panic and fhat national
prosperity was being wrecked in cold blood for
tho exclusive gain of two Wall street groups.
We retell history today simply to cite the
latest proofs of a crime that resulted in disaster
to life, character and honest property proof
provided in the sworn testimony of John W.
Gates, of the Tennessee Coal and Iron company;
Oakloigh Thorne, president of the Trust com
pany of America, ami Justice Gerard, of the su
preme court of New York, former director of
tho Knickerbocker trust. Philadelphia North
American (rep.)
A BIT OP CANADIAN HISTORY
Mr. Bryan has received in a private letter a
bit of Canadian history which will be decidedly
interesting to Commoner readers. Following is
the letter:
"I noted with Interest tho strictures you had
recently made upon the vetoes which President
Taft had given upon several measures which had
received the approval of tho people's represen
tatives in congress, and to the comparison you
made between his acts and those of monarchs
and other supposedly (moro or less) absolute
rulers.
"Tn this last connection, I remember a bit of
history enacted In Canada, which goes to prove
tho correctness of your views, while at the same
time I can see that there is a difference between
the acts which will be tolerated by a freedom
loving people, when they are the acts of an
elected representative, and of-similar acts done
by one who Is not an elected representative.
"however, when Lord Lome was governor
general of the Dominion of Canada, the lieutenant-governor
of the province of Quebec re
fused to recognize tho ministry of his province,
as he claimed they had acted in an underhanded
manner towards him. For this, the dominion
ministry demanded his dismissal from office
(they were on the same side of politics as those
whom the lieutenant-governor had refused
longer to deal with) but Lord Lome refused to
concur in the dismissal of the lieutenant-governor.
The matter was referred naturally, to the
British government (on that part of it having
to do with colonial affairs) and the British gov
ernment decided that the governor general
would have to act upon the advice of his 're
sponsible (the people) ministry.
"This, of course, makes of the king or gover
nor general merely a registrar of the wishes of
those in pwer, or in other words of the popular
representatives.
"The system, as you will see, differs from
ours, and simply amounts to this, that the
peoples having representative government other
than the republican form, tolerate their kings,
etc., so long as they do not Interfere with the
will of the people, or of the majority of those
who for the time being represent them.
"Whether Lord Lome could have forced an
appeal to the electors of Canada, to find out
whether the proposed act of the dominion minis
try was in accordance with the people's wishes,
I do not know, but all recent British govern
ments have been rather careful to avoid the
raising of questions affecting directly tho power
of the king or his representatives (which tho
governor-gerierals are supposed to be, although
they are In fact appointed by the ministry which
Is for the time being in office In Britain.)
"That one man, like President Taft, should
be able to defeat the wishes of tho representa
tives of the people, unless the majority is very
large in their favor, is rather an anomaly, and
not warranted by the brains or cha:acter usually
shown by the men in his position, but it Is part
of the system established by the fathers, and
which perhaps naturally assumed some, 'tone'
of the aristocratic form from which they were
separating themselves-
"The idea that a president must necessarily
How the Tariff Increases Pri
Don't you bellevo It If any republican or bull
mooso orator tolls you that tho prico of what
you buy, of tho articles that you consume, is not
Increased because of tho tariff. In tho first
place, that is exactly why a tariff is lovicd, so
that you will bo compelled to pay a larger sum
to the manufacturer for what ho soils to you.
If it did not do so there would bo no reason or
excuse for levying a tariff. In tho second placo
that is exactly what it does do, and that is why
the numerous gentlomon who bonofit by a tariff
are so very, very anxious to retain this special
privilege.
rices
down by conts or parts of a cont, tho rotall price,
based thorcon, does not. When It moves up or
down it follows tho fixed prico formula, which,
it will bo observed, leaps as high as 20 conts a
yard from ono classification to nnothor as the
cost goes up.
Tho proof of this is easily furnished. Take a
common article like tho cotton bedspread that
retails at $2. Just as good an artlclo was
furnished beforo tho DIngley and Payno-Aldrlch
tariffs wore enacted for about half tho price.
When Mr. Dingley came to make his tariff ho put
a 25 per cent tariff on these spreads. This as
sured tho American market for tho American
manufacturer, and he Increased his price at tho
mills to take up tho increase in tariff. Now ad
ding to the price at the mills moana that tho
jobber and the retailer will pass along to tho
buyer all of tho mill Increase and moro. Just
how much more it is easy to figure out If a bed
spread of a specific value Is taken. Fortunately,
the tariff board created by Mr. Taft has done
this for us.
For purposes of illustration follow tho for
tunes of cotton bedspread No. 7, as glvon In
tho tariff board's report. TIiIb was taxed 25
per cont undor tho Dlngloy law, and from 1899
to 1902, tho mill prico was 07 1-2 cents, tho Job
ber sold It for 75 conts, and tho retailor was
content with $1.00. Later tho mill man boosted
tho prico to 90 cents, partly bocauso of tho in
crease In raw matorlal, but largely bocauso there
was little competition from alrroad. Tho Jobbor,
who paid but 22 1-2 conts moro, addod 35 conts
to his price, making It $1.10 to tho retailor.
Tho lattor addod 50 conts to his old price and
charged tho customer $1.50. Thon camo tho
Payno-Aldrlch tariff law and placed a 45 por
cont tariff on this bodsproad, Instead of 25 por
cont. The manufacturer thon put his figure at
$1.00, tho Jobber advanced his to $1.25, and the
retailor to $2.
A trade custom apparently immovablo as any
of the celebrated laws of tho Medes and tho Per
sians Is that of jumping prices in retail merchan
dising according to a set formula. Tho most
common retail prices for different kinds of cot
ton cloth are 5, 7 1-2, 8 1-3, 10, 12 1-2. 15, 19,
25, 29, 39, 05 and 75 cents a yard. Deviations
from these prices occur, but only In tho case of
a special sale or by way of some other excep
tion, theso prices being tho rulo. All retail
prices, of course, are based on wholesale, and
while theso latter follow tho mill prices up and
Thus, you boo, tho addition of 20 por cent to
the tariff, or 18 cents, led to an IncroaBo in tho
retail prico of 50 conta. This was duo to tho
fixed prico formula, which, In tho case of this
bedBproad, called for a rotall price of $1.00
when tho wholesale prico was 75 conts, to $1.50
when tho Jobbing prico roao to $1.00 and to
$2.00 when tho Jobbor askod $1.25. Sometimes
tho custom of charging sot retail prices results
In as ahnrp drops in prico to tho consumer, fol
lowing Binall reductions In mill and jobbing
prices, but, Just as wages aro slow to Incroaao
as the cost of what labor buys goes up, retail
prices are slow to follow downward reductions,
whereas they Invariably follow advances.
This same principle runs through tho prices
of all cotton cloths and goods. C. Q. D.
bo a man of more commanding intellect and high
character than, say, a member of congress,
seems to be ingrained, although when wo
examine it with any care, it would perhaps bo
hard to prove."
MR. BRYAN IN MINNESOTA
Special to tho Minneapolis Journal: "Mr.
RooBevelt did not como into the progressive
vineyard at the eleventh hour," said William J.
Bryan from tho platform of his special train
crossing Minnesota. "He came in at a quarter
to twelve and then made affidavit that there was
nohodv In tho vineyard when ho got there and
he demanded all tho pay. Ho entered cautiously
and then called out, 'Come out, boys. It's safe
hero
"Tf you don't like Mr. Taft remember Mr.
Roosevelt cave him to us. He Is the Santa Claus
who put Taft In our stocking and T have reason
to believe ho knew then that his toy walked
backward. He had Mr. Taft under his tutelage
and for several years kept him busy studving
his book of tricks. Mr. Taft was not only
welched In the balance and found wanting but
he broke the scales in the operation. Tt is tho
first case in history of a man being elected to tho
presidency by a popular majority and retired by
unanimous consent. Wo read In our Caesar that
all Gaul Is divided Into three parts; that was
before tbev heard of Mr. Roosevelt whoso gall
Is undivided."
P. M. Rlnpdal spoke briefly at each stop pre
ceding Mr. Bryan and stating his position in
favor of the Initiative and referendum as tho
means to restore power to the hands of the
peonle and break up monopolies.
Mr. Bryan is ehalleneln Theodore Roosevelt's
claims to the support of Minnesota voters In his
addresses. Tn nearly each speech ho attacks Mr.
Roosevelt for effrontery in assuming to lend the
progressive cause. He pillories George W. Per
kins, the Roosevelt backer, as a trust ma nate
seeklnc: to save his possessions.
"Colonel Roosevelt says Mr. Perkins Is In
terested in the campaign for the sake of his
chilren," said Mr. Bryan at Staples. "He is In
terested because his children will Inherit
watered stock. There was $700,000,000 of this
stock floated while Roosevelt was rresldent and
laid as a burden on the American people. Per
kins wants Roosevelt at Washington to watch
out for that watered stock. I want to give you
a watchword for fils campaign. 'Not Porkins'
children, but my chlldron.' "
Beforo noon Mr. Bryan had spoken to fully
G,000 pooplo, mostly voters In different towns,
even though a drizzling rain fell. Many farm
ers' wagons lined tho streets. Ho urged support
of all democratic candidates and pralaed Wood
row Wilson, calling especial attention to tho fact
that Wilson Is pledged to a single term so ho
will not bo guided by expediency If elected to
tho presidency.
"Wo have not had an opportunity to discuss
tho open letter addressed to us by Patriot No.
1, alias George W. Porkins. Mr. Perkins' lottor
indicates that he Is either an Ignoramus or a
knave an Ignoramus If h6 does not understand
tho democratic position, a knavo If he wilfully
misrepresents the party position. Ho says that
Mr. Taft has followed tho democratic policy on
the trust question in the so-called dissolution of
tho oil trust and the tobacco trust. Surely Mr.
Perkins is not stupid enough to really bellevo
that the farcical conclusion of tho suits against
tho oil and tobacco trusts were In lino with tho
policies advocated by the democrats.
"Mr. Taft dissolved the trust without chang
ing tholr ownership, which Is not dissolution at
all. There was no restoration of competition,
there was no restraint upon the trust and no
benefit was conferred upon the people. If wo
enforced tho law against horso stealing In tho
way that Mr. Taft enforced the law against thoso
trusts, Instead of taking tho horso away from
tho thief and putting the thief in the peniten
tiary, wo would let him keep the horso, give him
another so he would have a team, and then send
him away with a certificate of character and a
'God bless you.'
"Even Mr. Roosevelt ought to know more
than Mr. Perkins seems to know on this subject.
Tho democratic position for twelve years has
been to make it Impossible for a private
monopoly to exist.
"Mr. Perkins is scared. He knows that there
is so much water in the stocks that ho holds that
he would bo drowned if ho were in the court
room when tho water was squeezed out. Thero
is not a trust magnate in the country who has
employed moro methods than Mr. Perkins. Ho
is experienced in every trust sin. Thero are two
degrees of crime, the crime of the amateur, who
Is ashamed of it, and the crime of the veteran,
who is proud of it. Mr. Perkins is a veteran 1"
4
k
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