The commoner. (Lincoln, Neb.) 1901-1923, October 25, 1912, Page 5, Image 5
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 ,"