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The Commoner.
VOLUME 13, NUMBER 2
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draft any measure upon any Important subject
which will in ovory detail bo satisfactory to the
GOO 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 oppose so Wise a moasure as that
now offered? Not the genoral public, because
their rights are fully protected. Not the busi
ness interests, for their 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 the president's plan is to it a lifo
preserver. Who, then, can object? Only two
classes: Those who dispute the right of the
people to issue through their government the
money which tho people need, and those who,
distrusting tho representatives chosen by tho
peoplo to guard tho public welfare, would deny
to government ofllcials control over the issu
ance of emergency notes.
AN IDEAL APPOINTMENT
Tho designation of Mr. Richard L. Metcalfe,
associate editor of Tho Commoner, as civil
member of the Panama commission will bo
gratifying to the readers of this paper, and to
nn increasing circle as his qualifications for this
plnco becomo known.
Mr. Metcalfe has, from his youth, been a
student of the science of government and, hav
ing a gonitis for construction, has been promi
nent in all reform movements which have de
veloped during his generation. Ho is one of the
pioneer progressives of Nebraska and has had
part in tho organization of the groat reforms
which have finally swept the nation and which
culminated in the election of a1 progressive
president.
. Mr. Metcalfe possesses a rare combination of
talents. In him are to bo found both modesty
and courage; he is at the same time cautious
and fearless, and ho will be what tho Spanish
call "sympatica" to the people among whom
ho goes.
Tho Canal Zono will be the center from which
American influences will radiate towards Cen
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
he has earned his promotion and a God-speed
goes with him as he enters upon this larger
field of endejivor.
PILLS FOR PESSIMISTS
Tfr Oho calamity howlers of whom there are
always a few sending up moans out of the
bushes wo commend these recent remarks from
James J. Hill, tho prominent railroad man:
"That half the peoplo 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 suffer.for it like tho mischief.
"That such complications as we have had are
troublesome, but foolish to think about, in view
of tho fact that we shall got 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 the 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
march. 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 tho matter of progressive principles the
Cubans appear to be keeping pace with the
peoplo 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. Ho 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 tho line. Cuban people
aro 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 tho
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 the 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 Coionel 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 the law. Tho wearing of a
mask is not an inalienable right. On the con
trary, tho 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 itselfanother reform
has stood the acid test applied by the supreme
ANXIOUS TO CRITICISE
The fact that republican leaders are tryinc
to make partisan use of the California incident
crSse hUngry they ar f0r a to
SUGAR AND THE TARIFF
Why not continue tho tariff tax on sugar in
r t0 tect th0 BUSar Deet industry?
This is the query raised by tho sugar lobbies
ooeoennnthf an8Wer: " is unfair to require 90 I
000,000 sugar consumers to pay two cents a
pound more for sugar than it is worih in ode?
to protect the sugar beet industry, because, al
though the sugar beet factories are over-cani-talized
approximately $80,000,000, ov 57 pP0r
?S W ilF a? Paylng large divilends and mak
ing millions in profits.
Tho greatest lobby ever known in Washing
ton is now being financed by tho beet sugar
.manufacturers. Money is being spent like
water and the senate investigation has show" a
scandalous misuse of publicity and the postal
franks of certain special privilego senator u
money can. do it, this lobby will defeat fr
sugar, not because the industry faces ruin Z
because tho sugar barons wish to continuY?
pay enormous dividends in tho worst witLi
industry in the United States. The high Zt
duties of the successive Dingley and Pavnn
tariffs have made possible an over-capitalization
in this industry without parallel in AmeriMn
financial history. encan
The total capitalization o all the beet suinr
companies is $141,000,000. The industry is
peculiar in that it is possible to estimate very
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, the 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.
Somo of the individual companies exceed
even this figure. The Great Western Sugar Co.,
capitalized at $30,000,000, is worth $10,G00,
000. The American Beet 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 spito of these fictitious valuations, tho
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 $9,000,
000 on an actual investment of $5,300,000 in
seven years. The Michigan Sugar Co. paid back
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 th'is 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
Bo Brave!
The day will dawn, however dark the night;
The right will win, however fierce the fight;
The 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
length; ,
The load will lighter grow through added
strength;
Tho goad will turn to helpful staff at length.
Bo Brave! , or
With Crown of thorns Truth still adorns ner
own; '
On scaffold, cross and gibbet rears her throne,
Her altar stands where each must stand alone.
Bo Brave!
The coward lives and dies an abject slave,
The fearful is a tryrant, fool and knave;
Omnipotence is only with tho brave.
American Citizen
