Democratic Sentinel, Volume 15, Number 43, Rensselaer, Jasper County, 13 November 1891 — THE REIGN OF TRUSTS. [ARTICLE]

THE REIGN OF TRUSTS.

M’KINLEY'S TARIFF LAW PROTECTS THEM. Th<> Home Con«uiu« P»jii Ike Tariff- «ml Not the Foret*i> Manufacturer—McKlnloj Object Lcsaon*-It'a Cheaper to Foreigners—Tariff Shot, Etc. High Tariff Promt***. When Beniamin Harrison was nominated for the Presidency, he wrote the following in his letter of acceptance: “The declaration of the convention against all combinations of capital, organized in trusts or otherwise, to control arbitrarily the condition of trade among our*citizens. is in harmony with the views entertained and publicly expressed by me long before the assembling of the convention. * This was the promise which he made to the people, namely, that nothing should be done by liis administration to foster trusts, but that every effort would be put forth to suppress them, In accordance with these sentiments, the representatives of President Harrison in the House and Senate passed the McKinley tariff and the anti-trust bill of Senator Sherman. Shortly after the passage of the former the administration organ, the New York Tribune, exclaimed in a St of exultation: “This (the McKinley bill! is a trusVkilling tariff, men and brethren.” At the same time it declared that the anti-trust law makes impossible the formation of trusts to control the markets and advance prices. Such were the promises of the Harri- : son administration. Were they carried out? The /act that there were many trusts in existence at the time that these promises were made, and that since the , enactment of the Sherman anti-trust law, many more have been organized in open defiance of it, is sufficient to show that the trusts did not fear this law. Nor, in fact, have they had cause to fear it, for the Attorney General, whose duty it is to execute the law, has not brought a single suit—thus himself violating the plain commands of the act The Jaw was never intended to be anything but a dead letter. It was passed for a purpose, however. This purpose was two-fold. The McKinley tariff had largely increased the rates of duty on the products of the trusts, thus giving them still greater opportunities to enlarge their tariff bo- ; nuses. The anti-trust law was enacted I to detract the attention of the people from this fact The other rea- ! son for its enactment was to satisfy the clamor of the people against! the trusts. It was the belief of Sheiman and McKinley that the law which the former fathered would accomplish both of these purposes without in any way causing the trusts, who were the real beneficiaries of the McKinley bill, the least annoyance. We give a list of a few of the leading trusts which depend for their existence on the tariff: 1. Cotton Oil Trust This trust embraces several smaller ones, among them the Little Rock Cotton Oil Combination. Its stock is heavily watered. Tariff protection 10 cents per gallon.

2. Linseed Oil Trust. It controls the mills and markets. Tariff protection 32 cents per gallon on linseed oil. 3. Borax Trust It embraces all the borax mines of California and Oregon. No borax is found abroad, but imported boracic acid was a competitive product. On this the duty was increased from 3 cents to 5 cents per pound. The duty on borax is 3 cents and 5 cents per pound. 4. National White Lead Trust Controls the production of many lea 1 products, especially white lead. It disposes of its surplus abroad, and Is in this way able to keep up prices here. Protection on white lead, 3 cents per pound. 5. Ultramarine Blue Trust Protection, 4% cents per pound. 6. Acid Trust Embracing the manu-. factories of sulphuric, nftric and muriatic acids east of the Mississippi River. ‘ gCPtSition, suiptpirle acid, y i cent per pound] rprmerly free. t. C4stor Oil Trust. Protection, 6i cents per gallon* &-'"Wooa Alcohol Trust This is a branch of the Whisky Trust, known as the Distillers and Cattle Feeders’ Company 9. Sanitary Earthenware Trust, composed of seven pottery manufactories in Trenton, N. J., and East Liverpool, Ohio. On its products % the duties were Increased by 5 to 10 per cent, by the McKinley tariff. Directly after the enactment of the McKinley tariff it cut down wages. Protection on pottery, 55 and 60 per cent

10. Window-Glass Trust It embraces ' many window-glass factories in New York, Ohio, Pennsylvania, and Illinois. Secretary of the Treasury Foster owns stock in this trust. Protection, over 100 per cent. 11. Table Glassware Trust. This trust is composed of glass manufacturers in Ohio and Pen nsy. vania. It was formed immediately after the passage of the McKinley tariff. The duties were raised to 60 per cent Many of the factories in this trust made over 60 per cent profit last year. 12. School Slate Trust Protection, 30 per cent 13. Gypsum Trust (plaster of paris). It controls every important mill in the United States. Protection, $1 to $1.75 per ton. 14. Steel Trusts. Bessemer Steel Association, makers of blooms and slabs; Merchants’ Steel Association, finished steel; Western Steel, of Chicago; Ohio Steel, mostly controlled by English capital. These trusts control the manufacture of beam, channel, and structural iron and steel. Protection heavy. 15. Wire Rod Trust. Composed of Western mills. Protection, 6-10 c per pound. 16. Shot Trust 2% cents per pound protection. 17. Copper Trtist This trust is known as the Association of Copper Manufacturers in the United States. Controls all copper products. Meets once a year to fix prices; protection 35 and 45 per cent 18. Asbestos Trust This trust is composed of five firms in Boston, New York and Chicago; protection 25 per cent 19. American Ax and Edge Tool Trust. Organized in February, 1890. Previous to its organization axes sold at $5.25 per dozen, now the lowest price for first quality axes rs $7 to $7.50 per dozen; protection 45 per cent. 20. Steel Rail Trust This is one of the most important of all the trusts. It Is composed of six companies, and controls absolutely the production of steel rails; protection 6-10 cent per pound. 21. Parbed Wire Trust It was organized in St Louis in 1889, and embraces some nineteen companies; protection 6-10 cent per pound 32. Strap and T-hinge Trust Organized in New York. It advanced prices 20 per cent ; protection 2% cents per pound. 23. Coffin Trust Embraces sixty concerns. Prices have been raised 35 per cent; protection 35 per cent 24. Sugar Trust It was reorganized In 1889 under the name of the “Sugar Refineries Company. ” It controlled when organized twenty sugar factories, one-half of which have been dismantled. Protection % cent per pound. 25. Glucose Trust Protection % eent per pound. 26. Cigarette Trust Protection $4.50 per pound. 27. Oatmeal Trust It embrace* four-

teen constituent companies. It also has reduced wages. Protection 1 cent per pound. 28. Starch Trust This trust controls right factories Protection on starch 2 cents per pound. 29. Salt Trust Organized this year. It raised prices at once Protection 8 and 13 cents per 100 pounds. 30. Cracker, Cake and Biscuit Trusts. The New York Biscuit Company controls trade east of Chicago; the American Biscuit Company has all the trade wos: of Chicago. The former has a capital of £5.000,000, the latter one of $10,000,000. They advanced prices 20 per cent after dividing the field as above Protection 20 por cent 31. Distillers and Cattle-Feeders’ Trust, also known as the Whisky Trust it controls ail Northern distilleries. Protection very high. 32. .lute Bagging Trust. Protection 1.6 and 1.8 cents per square yard. 33. Oil Cloth Trust It embraces the manufacturers of table, shelf and stair oil cloths. Protection 30 to 40 per cent 34. Twine Trust This trust is composed of over thirty corporations. Protection .7 cent per pound. 35. Cartridge Trust Protection 35 per cent. This is but a partial list of the tariffprotected trusts, which number over one hundred. Everyone knows that the an-ti-trust law will not be enforced against them, especially now that a member of one of the leading trusts is Harrison’s Secretary of the Treasury. And yet the New York Tribune tries to fool the people by saying that, “this (the McKinley bill) is a trust-killing tariff, men and brethren. *