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draft nny measure upon any important subject
which will in every detail bo satisfactory to the
D00 senators and representatives who must pass
upon it. Whatever defects it may have will bo
brought out by discussion and cured by amend
ment. But, considering the principles involved, who
can afford to opposo so wise a measure as that
now offered? Not the general public, because
thoir rights aro fully protected. Not the busi
ness interests, for thoir needs are fully met.
Not tho state banks, for they come, for the first
time, into association with tho national banks in
tho enjoyment of accommodations furnished by
tho government. Not the average national
bank, because tho president's plan is to it a life
preserver. Who, then, can object? Only two
classes: Those who dispute the right of tho
pooplo to issue through their government the
money which tho people need, and those who,
distrusting tho representatives chosen by the
people to guard tho public welfare, would deny
to government officials control over the issu
ance of emergency notes.
AN IDEAL APPOINTMENT
Tho designation of Mr. Richard L. Motcalfe,
associate editor of The Commoner, as civil
member of tho Panama commission will bo
gratifying to the readers of this paper, and to
nn increasing circle as his qualifications for this
placo becomo known.
Mr. Metcalfe has, from his youth, been a
student of the science of government and, hav
ing a genius for construction, has been promi
nent in all reform movements which have de
veloped during his generation. He is one of the
pioneer progressives of Nebraska and has had
part in tho organization of the great reforms
which have finally swept the nation and which
culminated in the election of a progressive
president.
. Mr. Metcalfe possesses a rare combination of
talents. Jn him are to bo found both modesty
and courage; he is at the same time cautious
and fearless, and ho will be what the Spanish
call "sympatica" to the people among whom
ho goes.
Tho Canal Zone will be the center from which.
American influences will radiate towards Con
tral and South America and the president is
fortunate in finding one with ideals so high and
yet with that practical common sense which
enables one to embody his dreams in substan
tial governmental methods.
The Commoner will miss Mr. Metcalfo but
h has earned his promotion and a God-speed
goes with him as he enters upon this larger
field of endeavor.
PILLS FOR PESSIMISTS
Tfr Oho calamity howlers of whom there aro
alwuys a few sending up moans out of the
biiBhes wo commend these recent remarks from
James J. Hill, tho prominent railroad man:
"That half the people in Wall street do not
know what they are as blue as indigo about.
"That the man who is selling 'short which
means that he thinks things are going to smash,
( is going to sufferfor it liko the mischief.
"That such complications as we have had are
troublesomo, but foolish to think about, in view
of tho fact that we shall get ten billions of new
wealth out of tho ground this year.
"That it is nonsense to suppose the govern
ment is bent .on upsetting' things, and
"That this is the time to keep a clear head,
and not to get rattled."
Cheer up, everybody. This is too great a
country to be scared by a few changes in the
tariff, a receivership or two, or even tho machi
nations of the money devil. As long as the
" farmers do not go on strike or" a catacylsm of
nature does not occur there is absolutely noth
ing to halt tho nation's upward and forward
inarch. Nashville Tennesseean.
IMPORTANCE OF PLATFORMS
The sentiment that political platforms are
made to stand on as well as to get in on is
emphasized among the people and in all sections
of the country there are indications that public
men are coming more and more to understand
,this truth. The Cubans have learned some
. things from tho United States of America and
in the matter of progressive principles the
The Commoner.
Cubans appear to be keeping pace with the
people of our own land. They have recently
elected to their presidency one of the strongest
and best of the world's progressives. Presi
dent Menocal begins his public service by de
clining to accept the sum of $25,000 appropri
ated for a secret service fund. He had promised
tho people economy and declares now that the
Cuban treasury can not afford this expenditure.
Ho therefore relinquishes this sum of $25,000.
Cuba's new president gives evidence of institut
ing reforms all along the line. Cuban people
are certainly to be congratulated upon the elec
tion to their highest office of this strong, force
ful man, who understands that government of
the people should be by the people and for the
people.
MISREPRESENTATION
New York World: It is undeniable that Mr.
Bryan has a large personal following in tho de
mocracy. It is also undeniable that mischief
makers within and without the party have been
persistent in their representations that the sec
retary of state was laying an ambuscade for any
currency-reform bill which admitted the banks
to any part with the government in creating
so-called "money" or credit circulation.
Wo may therefore understand that Mr.
Bryan's statement indorsing in general terms
the Glass-Owen bill is made to silence these
mischief-makers and promote party harmony.
We are evidently not to understand that he is
trying to assume an administration leadership
in the matter of speaking in. advance of the
president without his approval. As an unselfish
effort to bring about unity in his own party on
so divisive a question for all parties, his state
ment is welcome and must command respect.
GENERAL JOE WHEELER
The old comrades of the late Joe Wheeler
aro raising a fund for tho erection of a monu
ment in honor of the memory of the south's
great cavalry leader, General Joe Wheeler.
"Wheeler's Confederate Cavalry" veterans have
established headquarters at Atlanta and it is
under their auspices that the funds aro being
raised. Those desiring to contribute should
send their contribution to Colonel J. S. Prather,
Atlanta, Ga. General Wheeler was one of the
world's great cavalry leaders. He served through
tho civil war and also made a splendid record
during the Spanish-American war. He served
his people in the American house of representa
tives and wherever he was assigned to public
duty he did his part well. All honor to his
memory.
PUBLICITY LAW UPHELD
Tho supreme court has handed down a de
cision upholding the law compelling newspapers
to disclose tho names of those who own them
or control them through the holding of their
notes. No other outcome seemed possible,
although some of the newspapers contested the
enforcement of tho law. Tho wearing of a
mask is not an inalienable right. On the con
trary, the subscriber has a right to know who
dictates the editorial policy of the paper that
he reads, and he has the right, also, to know
what is paid advertising" and what is "pure
reading matter.'.' Thus another democratic
doctrine has vindicated itself another reform
has stood the acid test applied by the supreme
ANXIOUS TO CRITICISE
The fact that republican leaders are tryimr
to make partisan use of the California incident
Stttelse hUnBry they ar fr a bhance l
SUGAR AND THE TARD7F
Why not continue the tariff tax on sugar in
0r(m(lr1 i0, Protect the sugar beet industry?
This is the query raised by the sugar lobbies
oTnTninth0 an8Wer: u is unfair t0 reau ire 90 I
000,000 sugar consumers to pay two cents a
pound more for sugar than it is worth in order
to protect the sugar beet industry, because, al
though the sugar beet factories are over-capitalized
approximately $80,000,000, or 57 r
cent, they are paying large dividends and mak
ing millions in profits.
The greatest lobby ever known in Washing
ton is now being financed by the beet sugar
manufacturers. Money is being spent like
water and the senate investigation has shown I
scandalous misuse of publicity and the postal
VOLUME 13, NUMBER 26
franks of certain special privilego senator i
money can do it, this lobby will defeat fri
sugar, not because the industry faces ruin lit
because tho sugar barons wish to continun
pay enormous dividends in tho worst watLn
industry in the United States. The high mlt
duties of tho successive Dingley and Pavnn
tariffs have made possible an over-capitalization
in this industry without parallel in Amorto
financial history. "nerican
The total capitalization o all the beet sumr
companies is $141,000,000. The industry is
peculiar in that it is possible to estimate verv
closely tho actual cost of building factories it
has been worked out that it costs to build i
factory $1,000 for each ton of beets to bo con
sumed by the factory per day. Thus a mill with
100 tons of beet capacity per day costs $100,000
Now the total capacity of all the beet sugar
factories in America is 63,550 tons, showing
that the total actual investment is not over $G3 .
550,000. Indeed, tho Hardwick sugar com
mittee estimated the actual investment at $G0.
712,000. '
Thus, of the beet sugar capitalization, from
78 to 80 millions of dollars is pure water, or
57 per.. cent. J. Pierpont Morgan in his prime
never poured water into stocks at this rate.
Even the steel trust achievement could not
equal it.
Some of the individual companies exceed
even this figure. The Great Western Sugar Co.,
capitalized at $30,000,000, is worth $10,600,
000. The American Bqet Sugar Co., with $20,
000,000 capitalization, represents an investment
of $5,300,000. The plants of the Michigan
Sugar Co., which issued over $11,000,000 capi
tal stock, can be duplicated for $5,450,000.
But in spite of these fictitious valuations, the
sugar companies have been able to pay high
dividends on all their capital stock. The sugar
investigation showed that the Great Western
Sugar Co., besides paying' 7 per cent dividends
on its preferred stock and 5 per cent on com
mon, amassed a surplus of $9,000-,000 in five
years, making an annual net profit on actual in
vestment of 36 per cent,, or 182 per cent in
five years. This company actually had to juggle
its figures to keep down dividends on stock
over half of which was water.
The American Beet Sugar Co. made $9,G00,
000 on an actual investment of $5,300,000 in
seven years. The Michigan Sugar Co. paid hack
in four years every dollar of real money in
vested in it.
The great crime of modern finance is over
capitalization. A charter granted to a watered
concern is simply a charter to rob the poor and
the helpless, for either prices must be raised
to an unnatural level or wages must be reduced.
The beet sugar industry is one of the worst of
offenders, yet its great lobby is demanding that
the working people of this country shall ho
taxed $1.50 a head per year in order that they
may continue to pay dividends on watered stock.
Johnstown (Pa.) Democrat.
The heart has its reasons which reason can
not understand because it (the heart) is of
an infinitely higher order. Blaise Pascal
"Thoughts."
BRAVERY
Be Brave!
The day will dawn, however dark the night;
Tho right will win, however fierce the fight;
Tho end is sure, however far from sight.
Be Brave!
Not ours to shirk or shrink, to doubt or dread;
Not ours to turn from hardships seen ahead;
Not ours to falter; wheresoe'er we're led.
Be Brave!
The road will brighter grow throughout its
The load will lighter grow through added
strength;
Tho goad will turn to helpful staff at length.
Be Brave!
With Crown of thorns Truth still adorns her
own;
On scaffold, cross and gibbet rears her throne,
Her altar stands where each must stand alone.
Bo Brave!
Tho coward lives and dies an abject slave;
The fearful is a tryrant, fool and knave;
Omnipotence is only with tho brave.
American Citizen.
IjbJ.44
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