Indianapolis Journal, Volume 52, Number 295, Indianapolis, Marion County, 22 October 1902 — Page 2

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THR INTrA!CAf01,IS JOT7RAt. WEI)XT!SDAT, OCTOBER 02. IÖOÖ.

furnaces and gave opportunity for the em- , ployment of labor. I. kor returned to J wiirk tnI became a t nnri- a producer of i

the output of our f stories and the best consumer fnr th products of our farms. "True to Ita plight the Republic an party acted courago sl in the enactment of a law committing the Natl-M to the gold . standard of value, thereby fully re-toring I confidence In capital and quickening the j nul4 fnr tho circulation of trade, which i rapidly developed all linea of Industry. TRADE DEVELOPMENT "It ia needless to demonstrate the great development in American trade by quotations from tableg of figures showing the vast expansion of our commerce, as well as the unprecedented growth of our domestic trade. He who cannot be convinced that the unfortunate conditions which prevailed from 1893 to 1897 have given way to a wonderful development in all lines of business, greatly to the profit and advantage of the individual, cannot now be persuaded by being forced to listen to an array of figures or quotations from Bradstrevt or Dun to convince htm of his error. Tet it is refreshing to know that deposits In all classes of banking institutions grew from S6.1M.H47.530 in 1897 to SS.535.UÖ3. 136 in 1901, a net increase in four years of $3.23$.MMML The similar increase for the fouryear period from to is-; was Nut 5"J57.&M.9SS. If bank deposits recognised the world over a3 a fair criterion of the financial condition of the people can be relied upon, then the four years succeeding the accession of the Republican party to power In 1897 was S3.0SU.i5Mti.643 better than the corresponding four-year period preceding that date. "If bank clearings which the world over gre recognised as an evidence of the condition of business are to be relied upon, then th- four-year period following the accession to power by the Republican party in 1897 was many times better than the corresponding period imedlately preceding that date. For while the bunk clearings in 1892 were SCO. J3. 572, 438, the bank clearing in 189 (four years after; were on'.. $01.935.651.733, showing much more favo-ule conditions at the end of the fuur-y. r period than at the begining, the net loss being S&.947.9M.T06. But in the year 1901 the bank clearings of the United Stat had increased over the bank clearings of 18 by 180,019,271.51s, an increase of about luO per cent, over 1892. "Turning from domestic to foreign trade to contrast the changed conditions in our business, it appears that from the beginning of the government to the 1st day of March. 1897 a period of 108 years the total net balance of trad- in our lavor, as shown by exports and imports, was SoS3,(r.I8, .7. While from March 1. lv7, to Marc h 1. 1902, the balan e of trade in our favor reached the enormous sum of $J,7u7,L93.194. Measuring our prosperity by our foreign trade. the five-year period from March 1, 1897. to March 1, 1908, was five times greater than the j.r g MS years. For the last three years the balance of trade in our favor has been on an average each year over $1,400,000 urn. "By these two tests alone It Is quite easy to determine that, whatve r may be the causes wMci brought about this splendid change in the business of our country, the policies which are responsible for the change should be continued, and the party responsible for those policies should not be removt d from control. NEW PROBLEMS. "While there has been a renewal of activity In the business of this country upon lines of policy advocated by the Republican party, new problems have arisen, requiring the greatest possible care. These new problems are by no means easy. Some of them afford no precedent, while others come upon us with new faces, exacting, irksome and perplexing. Upon one thing at least all will agree, and that is these problems are before i;s not only for discussion and criticism, but for solution. "H a . , r much we may differ as to methods and remedies, we are face to face wita ditfi. .i s a1 Ich til for the wisest Statesmanship, cautious and conservative action, steady and courageous treatment and the honest and honorable thought of all good people. Some of these problems, while old. are Intensified by the wonderful development of our business, while some have fallen to us as legacies from an honorable warfure. conceived in a spirit of humanity and concluded with honor, praise and glory to the cause of human rights. These problems are not to be Idly brushed aside, nor be considered in a spirit of prejudice, nor solved by denunciation and declamation. "If the policies of the Republican party were only helpful, and not controlling in the events of the past six years which have brought us from idleness and despair unto Cospertty and hope, it is net unreasonable claim that that party Is the best able to cope with the new problems that have arisen and which now confront us. Better nlist tb servicea of one whose skill has been proved by work already accomplished ana succeses already achieved than to pass the problems to a party whose history is full of failures and whose prejudices are so deep-seated as to discredit its claims. Even if the Republican party were as destitute of remedies for tl roblems as is charged by the most irresponsible individual in the ranks of the opposition, still it would be i ter to leave them to the party whose record sparkles with bright gems of success than accept the proposed remedies of the opposition which are founded upon revolution and denunciation. "It would not be unreasonable to suppose that after a period of such wonderful Oevelopnu nt in trade and commerce through which we ur.- now passing, when such remarkable changes followed immediately upon the accession to power of the Republican party, to haw had the universal sentiment prevail that the party which had enjoyed such success since 1897 should be MOKE FINE WEATHER, Probably Fair and Warmer Through, oat Indiana To-Day. WASHINGTON. Oct. 21.-Forecast for Wednesday and Thursday: For Indiana Fair and warmer on Wednesday. Thursday fair, except rain in northern portion; fresh southeast winds. For Illinois Fair on Wednesday; warmer in uorthern and central portions. Thursday fair, except showers in northern portion; fresh southeast winds. For Ohio Fair and warmer on Wednesday; probably showers in northern port:on. Thursday fair; fresh southeast winds. I oral Observations on Tuesday. Tem. R.H Vin i Weather. Tree. TS- ..3434 44 7 N'ut. Oear. 0 uO Tswm..3.2 U 54 East, clear. o.oo SUxhnum temperature. W; minimum tempera - Comparative statement of the mean tsmperaturs sod total precipitation on Oct. 21: , Tem. Normal Mean "l Departure 2 Tree. 0 e9 0.00 0 09 0:2 uaparture rce tct. I Departure aii.ee Jan. 1 ... 1 Plus, W. T. ilLYTHE. Section Director Yesterday's Temperatures. Stations. Abilene. T-x Ani.inllo. Tea Atlanta, Ga Bismarck. N. D Bufbtlo. N. Y Caro. Ill Min. .. 5 .. 4 .. 3 Max. SJ 7 p. m.

72 70 54 40 70 5 54 44 72 60 70 SJ 41 . 0 80 73 7 49 68 5 (0 50 SJ 70 54 70 42 41 70 1 71 48 68 54 64 7 71 74 50 44 i 44 72 72 SJ 54 40 71 42

4 74 42 T4 Li 44 4S 42 6 0 74 44 2 4 ... SI J4 ... &8 ... 43 Calgary. Alberta . Chattarooga. Tenn Chicago Cincinnati. O Cleveland. O .., Concordia. Kan Davenport. Ia . Denver. Col .... Das Moinea. Ia to 42 i 44 U 42 50 56 6 32 44 21 31 Dodge Mty. Kan Dubuipie. Ia Duluth. Minn El Paso. Tex Fort Hmith. Ark Oalveston. Tex Orand Raven. Midi ... Oran.l Junction. ol . Havre. Mont Helena. Hoot slaeaa. B. D Jacksonville. Kit Kar.aaa City. MLander. Wyo LRUs Rock. Ark .... 11-'. Ky rquette, Mick Mmph:. Tenn M sMSM T'tah .... Mfnmary. Ala . NVw Orleans. La Haw T.rk cits 7S 54 : 71 71 T4 74 70 71 .4 31 1 44 U 51 74 U ßsahvMlf. Tenn .. orfolk. Va Worth Platte. N.:b Oklahoma. O. T . Omaha. Nab Faleatine. Parkrraburg. fA" Phi ladal pals ... Pittsburg. Pa .. Va &g '4 54 44 43 71 7a 74 41 70 74 74 ..44 . 45 ... U .. 10 .. 44 .. 41 ... 54 ... 44 m 40 .. 43 .. 54 .. 40 .. 41 Puabta. Col Qu' Appell. Aaain Rapid City. H I) alt Lika City St. Li'Uta 9 Paul, Minn ... Santa r. X M Bprtng-flairt. Ill ... Hrna-nlJ. Mo ... Ttekaburg. Miss .. Waacir.g'.on. u. C

accorded the opportunity to meet these new

conditions and attempt the solution of those 1 new problem without embarrassment and i without opposition. And yet instead of that I we rind the opposition, made up as it is very j largely of the same character of discord. discontent and dissatisfaction which char- I atteriicd the opposition in the campaign of tSSS, clamoring for tb overthrow of the Republican party and insisting that the best methods of solving these new problem? are to be found in the proposed remedies ot the , Democratic party. rXJL'ST CRITICISM. "It is not enough that business has been greatly improved, that an unwelcome war has resulted in freeing a down-trodden people from the yoke of despotic tyranny, but these things are to be forgptten and the administration Is severely criticised for its foreign policy and charged with a desire for despotic power in ita treatment of the Filipinos. In the same captious spirit the administration and the party to which It is responsible is subjected to the keenest ; possible shafts of attack for its treatment , of Cuba and the American army the army of the American people the army which In all our wars has men the nucleus around .hich Vina milled that vn:i tr trui mnra powerful army of volunteers has been sub- 1 ioptoH to ihnriir riHiri.K, ur.i -i 1 1 tnniia assault. "The wonderful growth of our country, necessitating a large outlay of money for internal improvements, enlargement of the navy, equipment of coast defenses, improvement of all the channels of trade, are all forgotten in the terrific onslaught upon the party in power because of its supposed extravagant expenditures. Refusing to ac cord to whatever cord to in the extension of trade and the develop ment of our home industrlea the opposition is merciless in its attack nd voluminous in its charges of responsibility against our party for every supposed evil which may hove trrnurn tin llUi artmHa rr tViiatl.a In n held of ripenins grain. They shut their 1 eves to all the signs of prosperous activity. stop their ears to the noise of the factory 1 tho fore, ami rrv imi,. m th.,ir ; v elation of the Republlca . k o ' J v ..iii av ii u 1 1 111 B4artv as the i cr-ticise the Re ctlve tariff a the I friend of the trusts and MilIll III luui. j & A. mm 1 o vvv 11 V r IUI ML It I tlr' i especial and peculiar refuge of greed and tMiKlinrtn rrkUm r f a nrki r monopoly. "I insist that If the Republican rarty is to be held chargeable with all the evils in the business world whic h exist to-day that the opposition must give the Republican party credit for the benefits which have followed the establishment of our polid a. If we are to be held responsible tor the bad, we are entitled to the credit of the good that exists. If in the restoration of the prosperity we are to be chargeable with the weeds and thistles in the Held, we have a right to claim the grain which has been cultivated. THE PHILIPPINES. "The Philippines have come to us as & legacy from the Spanish war. The time has passed, in my Judgment, in which to discuss the terms of the treaty by which the United States government acquired title to those islands. The time has also passed, long since, to consider the character of Aguinaldo and his former conduct toward the Spanish government. We are rapidly trying to forget the horrors of the war and the trials and hardships which befell our soldiers in the suppression of the insurrection. It is now of little moment whether or not Admiral Dewey should have sailed away alter the battle in Manila 0.1 y. and thus escaped the acquisition of tin e islands. These things are p..-i ' and gone. It is a waste of time to li DM tin 09 BOW. We are now abreast of a situation which demands our attention regardless of how we reached this position. There may be, and I regret to say there are those who think we may yet escape from our embarrassment by blindly turning our ba ks upon this situation, abandoning this position and leaving these islan.ls. fr Ighl vi with their unfortunate people, to drift out upon the high sea of uncertainty, to become the prey of some pirate nation or become wrecked upon some unknown rock of adversity. N "The effort of the Republican party has been to start tiios. people upon the highway of improvement which leads to self-g rnment. Every step has been m.t!kl with a determination to throw about thOM people the wholesome inlluences of law, order, industry and Intelligence. "Instead of turning our backs upon the situation and beating a cowardly retreat. a course advocated by the opposition, the administratlon has moved steadily forward, taking these people by the hand and pointing out the way of boneat (Oil and industry; giving to them opportunities lor eiucation, ami helninsr them to build for thems Ives; pointing out the way by Which it is to be hoped they may yet re ach a high er plane, and possibly their ambition for self and independent government. "They have not only been told what to do. but how to do it. The American soldier had no sooner suppressed disorder with the in i neu naim ul auiuuiiiN man ne ieit in' ranks to become an instructor in their schools anrl the teacher of their youth. Highways have been built, harbors have eej Improved, wharves have been constructed, schoolhouses equipped and teachers furnished for both voiinsr and old.

the Republican party any credit ""VL '"''8 pioper protection

for the growth of business or ac- ! lu l, uusines 01 mis country, yet

it the slightest praise for Its part ! 1 air JPfT?. e neeo or tne Cuban

1

"Believing that education is the first step j ine enon to reuuee expenses in tne proby which they can be led the American duction and sale of goods and restrict comgovernment has sent thousands of teachers pf.tition is as od ag the first partnership, into those distant islands, and the ready .... , v response with which the people have started an1 wU1 continue as long as trade exists, to school encourageous the hope that in a , The counter effort to control this tendency few short years the foundation win be !aid by law and keep competition open for the upon which will stand an industrious peo- , . . . . pie. who will bless the day the American I general good is to be found in the statutes Hag first floated over the forts at Manila. of all civilized nations. In "Appendix A, "Instead of the policy of subjection and German Society of Middle Ages.' by Belcolonization, there has been held out to , , r, , . . .. them every possible encouragement which fort Bax- are these Propositions which were shall advance their material welfare and advanced in 1522 by the Germans to restrict shall strike down the chains which have the seltish tendencies of trade combinabound them to traditions - nd customs of a tions: decaying monarchy. There has been kin- " 1. Companies or single persons shall died in their breasts ambitions for industry ' use no more than 20,'JOO. 40,000 or for the and learning which shall trlng them in time iost 50,000 gulden stock for trade, and to a position from which the-v shall deter- shall have no more than three storehouses mine for themselves whether they prefer outside their family dwelling, an independent government of their own eir " 1 Dispersed companies may not join desire to remain uneler the folds of the themselves together on pain of losing all Amrican flag and influ-m ' M of Ameri can their goods. institutions. This is the policy of the ad- ' . No merchant may buy at one buyministration toward that people. This is ; ing nmre than 100 hundred-weight of pa-

the hope of the Republican party exte nded to these wards of the Nation, in strong contrast with the policy of the Democratic party to cut adrift these islands with their precious freight. A HELPING HAND. "The Republican party offers to the Philippine people the helping hand of the strong, the encouragement which the American institutions extend and the benefit which the development of trade and com la t KrltiP- InVtP.i of inoirin- " ' , " ' , V. Z .V V " criticism and villainous attack, this policy is ent'tled to credit and praise; instead of accepting the remedy of the opposition I w Z L- ' . believe the American people in the coming election will return a vote of confidence in the policy and approval to the administration in its treatment of the Philippine question. When these people have been taught the ways of industry and thrift, encourag i and aided by influences of American institutions to cast aside the practices and customs which have been responsible for their unfortunate condition, and have taken on a new growth under .the guidance' and leadership of the American people, when, through the scheol syst ni which is b organized and extended through the I hilippine commission, the correct methods of education have been extended to them; when highways and harbors have vie Ided to the hands of industry and toil, ami business channels have been opera d for the flow of domestic trade, when, in a word, the Philippine people have been lifted out of the slough of despond and set upon the highway of progress, with capacity and ability for self-control, the American people will. I hoxitstly believe, extend to them with full kindness the privilege for determining for the-mstdve-s whether or not the y shall continue through the conduct of their affairs under the guardianship of American institutions or whether the flag which now floate above them as the emblem of liberty anel peace, shall give way to the l:ag of their own choosing, and they shall start upon the sea of life alone. withut tl hand which succored and assist, d them. wiaien mi .it- mtru ueeisjuu, me- v n ert mm, mrm v . -v n 1 h ml mmi V . k A PH A mi .8 A m . - . . . . mm mm m, 4 m lean people can be trusted to see that it shall be executed. CUBA AND PORTO RICO. "The same treaty which brought to us the problem of the Philippines brought us also Porto Rico. The spleneild advancement In education anel commerce which has blessed that little island is overlooked in the tirade of abuse which Is heaped upon the administration for its supposed misconduct of the Philippines. The business of the people of that Island has greatly increased, and thrift anel industry characterize every avenue of its domestic trade. Schools have sprung up on every hand under the direction of the government establish l by American authority; and already the per cent, of Illiteracy has been greatly reduced. The blessings of liberty and progress which th Porto

Ricans to-day enjoy far more than corn-

pensate for the troublp and lo9 of treasure which the American government has suffered on their behalf. "The same is true of the Island of Cuba. whose cry for help was the starting point from which the problems of our new possessions arose. Where is the Individual who would to-day recall one single thing which the American government has thus far accorded the Island of Cuba? And who to-day regrets one single penny expended in her rescue from Spanish tyranny? The story of her heroic struggle ani final rescue reads like a romance. 'The sacred promise of the American gOVtriLOMOt, pledged in good faith to give her people Independent self-government, has been full; and completely kept. The island has ben surrendered by clean hands and the new flag of the young republic floats above cities from which has b 1 eradicated the foul disease which through centuries has been the blight of W 1 a M a a ! rici peopje. aiiu improved nifgnways and harbors remain as object lessons of thrift and industry to her inhabitants. Nor shall we forget that as a neighborly nation we owe to her privileges of trade which will extend to her people markets with us. and in turn enjoy from her the field of her trade, which will be of advantage to our people. Whatever may be the relations between mat island and our counr' in the distant future certainly the near future shoulo see such reciprocal trale reiiiijiir u iween trie iwo governments as shall open up to Cuba a fair market for her products among the American people,whose kindly offices and sincere sentiments h led her cry in her darkest hour, and who can now so well afford to lend the helping hand of trade to her struggling industries. "While T realize and fully appreciate the We are all the more responsible to her by reason of neighborly location and ability to xtend su h aid. "If Cuba enjoyed a larcrer variety of products from which choice could be made In ni-r'ino fur on ..v.h., ni... ..n T "l inuuucis. 1 wou,11 Pf to, fee exchanges made for Pro;,ucts diu r than sugar and tobacco. nfortunat. ly. however, her resources are lm!tcd. an(1 il should be our duty, as well i,s 11 is our PPortunity. to make exchange for sucn of nor rroducts as she is able In a i , . . her ailtl f(lble condition to offer US RFA'Il'IUX'lTY PROBABLE "It is my honest belief that we shall see before many months some trade treaty with her people or some reciprocal agreement which shall afford to her the benefit of our markets and at the same time afford to us the benefit of hers. By extending to her the favor of a lower rate on sugar than we exact from other nations we stimulate the chief industry of her people even if we embarrass in a small degree a similar industry of our own. But for that slight concession we will be able to establish a trade relation with her for the entry int) her markets upon favored terms of 01 itain products of our mills and factories which will bring a benefit to our commerce that will more than compensate us for our 1JSS. "This proposition is, however, criticised upon the ground that such a trade will b- ii- tit the sugar trust. But in the consideration of our duty toward Cuba it is immaterial whether individuals, corporations or combinations happen to be the leading spirits in the traffic in her products. The sanM treatment would be due the peoi 1 of that island if ther were no so-called sugar trust and ten thousand instead of a 4 w companies and individuals were interested in her products. The point of view from which to consider our treatment of the Cuban people is thtg position and their opportunities, and the benefits which may follow to all of the trade of America irrespective of the particular benefit which m iy accrue to those engaged in the purchase and sale of sugar. I sincerely believe thai this was the way in which the question was considered by President McKinley. I know it Is the way In which it is urged by President Roosevelt. Certainly Iheee two illustrious Americans one taking up the duties where the other was forced to surrender them can be safely reli. d upon for the proper solution of the ptrj piexmg aimcnlty. "It h; when dealing with these so-called trusts that th opposition seems best to enJoy itself. It appears to have discovered UH this troublesome problem an opportunity to confuse the Republican party and the administration and so center public attenj tlon upon it as to hope for a return to 1 power because of some division in the ; ranks of the Republicans which may per- ; haps be made by its discussion. It appears j to me that the opposition is rather endeavoiing to so becloml and confuse the situaHon that such a dust may be raised as to obscure them in their effort to obtain the m at Of power which they realize they could j not expect to roach in the clear light of public understanding. "If one should undertake to treat this QtteetlOU from an historical standpoint, and from an economical standpoint, and from a politieal standpoint, the time accorded for an evening s address would hardly be sufficient to cover the ground. Permit me, however, briefly to consider the problem in one or two of its phases. THE TRUSTS. "In the first place. It is not new. Indeed, p r, lou nundred-welght of ginger, and no manner of spice which hath the name, more than 50 hundred-weight; also after such ; buying he may not buy or trade any more of the same ware for the fourth part of a year.' "Vet because the question Is old does not argue that It is not important, but it proTM that the problem is n-jt a growth from recently established policies. To point to the existence of trusts in foreign die; do. s not wholly meet the ques tion, anu yet u meets u rar enough to suceessfully overthrow the Claim Of the ODDO- ! sition that the policies of the Republican party lu the Cnitv(i States are responsible for the e xistence of such combinations. On ' ne 1?Lhor 1and If ?reat combinations exist ! in different countries, under different po : uttcal condlti ops, yet containing similaT elements of growth, it is not unreasonable to assert that their cause is economic and not politieal. If such combinations were to be found only in republican forms of gm-ernmcnt it might well be claimed that their origin was due to some peculiarity of such government. If found only under monarchical forms of government that form of government might have some controlling Influence. But when similar organizations in trade are found under different forms of government, existing and continuing only where similar coneiitions of trade are found to exist, regardless of political conditions, it is fair to assume that economic not political r.-asons are the controlling factors in their development. CONSULAR REPORTS. "In the report of United States Consul Day, writing from Bradford, England, May 19, l&w, is a long list of organizations, with capital stocks running up into the millions and hunelreds of millions, of concerns orzed in England, covering a variety of manufacturing industries. During the same' y. ar a report was made from Austria-Hungary by Consul General Carl Bailey Hearst, setting out similar conditions which existed at that time in Austria. In the same year Consul Winslow, of I Uege, Belgium, reported the existence of i a urge number of trusts in Belgium or- ' m mm m ganized tor the express purpose ot regulating pricee and distributing orders. In a report made in May. lyoo. from Consul Thackara, of Havre. France, may be found a r.-e ita! of similar organizations in France, In this report he shows that in the year Ufl there existed in France no less than MM industrial and commercial and agricultural syndicates; that the pig iron industry of the country, the petroleum industry, the sugar industry, matches, tobacco, coal anel other lines of trade weie uneler absolute control of such combinations. The same year, in a report from the consul general at I'erltn. it was shown that as early as lsTO there were five syndicates In Germany, and that this number had in- :. ased to 343 in 1S97. and covered practically the entire field of industrial activity in that ceiuntry. "Certain ly the Republican party cannot be held chargeable with the growth of trusts in England. Austria. France. Belglum and Germany , nor can the policy of a

I rujit; iui tain finn i:.i. iUK . dl UUI llrlllMS.

protective tariff be held accountable for j such conditions, because the countries named are nt er.joyir.f? the same character of revenue laws under which the United States is operating. Let me read a resolutlon which was adopted by a labor con- ' gress at which juite a number of different , trades and labor unions were r presented,

Resolved. That in the opinion of this congress the growth of gigantic capitalistic trusts, with thtlr enormous power of controlling production, is injurious to the ad vancement of the working classes, aa by

such combination the prices of commodities ment, making better profit to the manufacare raised, the standard of comfort of the , turer than holding for trade at former

people can be reduced, the workman s free- j dorn endangered and the national prosperity menaced.' "Where do you suppose that meeting was held, and against what trusts was the resolution directed? It was a convention of

English workingmen. held in London on ; in new markets at lower rates than were the 6th day of last September less than two asked at home. Yet all of these things exmonths ago. ; ist; yet all of these things are to be found "These combinations exist, but they are in the trade of foreign exports, not confined to the United States, nor do INDUSTRIAL COMMISSION. they have their origin in the policies of the . . m ., a, ,..1,1 Republican party. Like the money ques- In the rePjrt of the industrial commistion. the trust question is economic and j slon a short time ago a commission recog-

demands the study of thinking men and a solution based upon reason unconfused by demagogy and raillery. "The field of American investment is so inviting, our capital so great that wherever economic conditions assert themselves in the channels of commerce it is natural that they should be found in the rich soil of American trade. And yet even in our country where the domestic trade ard commerce among the people in the Stales and Territories of this Union is vastly superior to that of any other country or any other half dozen countries, the ratio of corporations and combinations to the entire business of the country is quite as small, proportionately, as similar organizations in other countries which 1 have named. ACCURATE STATISTICS. "These statements are not Idle expressions, but based upon accurate and reliable reports. The census report for the your 1900 contains the information that the total number of manufacturing establishments of the United States in that year was 512.1254. of which 256.S14 were hand trades and not properly manufacture p, leaving 296,440, of which 40,743 were incorporated companies; that the total number of wage ear.-.ers employed that year by those establisnmcnts was 4,749.To: that the annual pay roll of such employes aggregated the enormous sum of C034.tMS.4C4. and that the value of the output of the produc ts of those establishments reached the tremendous sum of $ll,x20.7S4,6S. And yet out of the number of 512,251 manufacturing I 4tablishments the total number of 'industrial combinations' was but 1S5. and that i this group of combinations controlled only 2,040 plants. The number of wage earners employed by those lsö combinations was but 410,046 and the annual pay roll was $1".122,980, and their total output $l,667,35o,:'i:'. The steel trust was organized after the census report of 1900 was issued, and hence is not included in detail In the statistics i just given. But it must be romembi red that the steel trust was a consolidation or combination of corporations already established. A grouping into one concern of such establishments as the Carmpi - Company, Federal Steel Company. National Steel Company and a number of other companies of very large capital. The organization, therefore, of this trust really reduced the total number of 'Industrial combinations' from that given in the census report, and to that extent strengthens the point which I make that the ratio of large corporations in this country to the total number of manufacturing establishments is small and that the business transacted by them and the labor employed by them comprise but a small proportion of the total business and labor of all our manufacturing establishments. "I have never yet heard any one charge that an individual could be a trust, neither have I heard it claimed that a partnership or association or joint-stock company has ever yet reaehed the magnitude of a modern trust. The expression had its origin in the legal term 'trustee,' an Individual to whom was delegated the authority of certain individuals -with power to act in the same manner that separate individuals would be permitted to act under the law. But the term 'trust' has come to mean more than an Individual or group of individuals, and In no instance hav I heard of such an organization unless it was a corporation organized under the law of some State, nor unless It has been what is called an 'industrial combination.' In fixing a proper basis for the classification ot sucn combinations tne census omcers i&i t u uyun nie lejtiuw nig iieiiuiiiuii . ONE DEFINITION. " 'For the purpose of the census the rule has been adopted to consider no aggregation of mills an industrial combination, unless it consists of a number of formerly independent mills which have been brought together into one company under a charter obtained for that purpose.' "Assuming, therefore, for the sake of the argument, that every "industrial combination' enumerated in the census report of 1900 was a trust, there could not have been in that year more than 185 of them, and they employed but 18 per cent, of all those employed in the manufacturing concerns of the country; paid but 19 per cent, of the total wages, and manufactured but 14 per cent, of the output of the establishments of the country engaged in manufacturing. If you should assume that all of the 40.743 corporations engaged in manufacturing in the year liKiO were trusts there were still 255,697 establishments other than corporations, not even counting the 256,814 so-called 'hand trades,' engaged in the same business as competitors of such corporations. "I have endeavored, for the sake of the argument, to give the most liberal view possible for the purpose of determining the percentage of trusts to the total number of business establishments, and the proportionate part of the labor employed and the output of such concerns. "L.et us, for the sake of the argument, at this point make a second assumption, and let that assumption be that all of these concerns are bad. In making such an assumption we violate, without question, the truth of the facts, and yet in order to con vince the most zealous opponent of such combinations, let It be assumed that every fhe of the 185 ineiustrial combinations' of the country was a trust, and that all of them were bad. There yet remains to be pointed out that before you can accept the proposed remedy of the opposition for a wholesale assault upon and overthrow of all such combinations that there is some consideration which mußt be given to the effect which such a solution will have upon kindreei concerns manufacturing similar products, employing labor upon similar terms and pouring Into the channel:? of trade an enormous amount of products for home and foreign consumption. If the complete overthrow of all of the combinations should be entered upon for the purpose of solving the trust problem, what is to be done with the :2 per cent, of wage earners employed in the other manufacturing concerns of the country? And what of the H per cent, of wages paid to iiies wage earners? And what of the loss upon the 86 per cent. In value of the output of our manufacturing concerns? "I have not yet denied that there is no evil In these combinations, nor thai some cf them are bad. I insist, however, that all of them are not evil and all are not to be overthrown. My own notion is that the principal criticism against these combinations is overcapitalization, and the method of issue and valuation of stock. The better course is to make careful examination into each, and with prudence and cemrage eliminate the evil and leave the good. Instead of the destruction of the whole, when- innocent and guilty alike shall suffer, better cautiously withdraw first the innocent before the building is overthrown, which would wreck all. WHOLESALE DESTRUCTION. "The Democratic opposition has not yet advanced a theory for the solution of this problem but what is intended for wholesale destruction without respect to the effect which may befall either the individual or the business, and with no apparent intention to properly prote-ct the innocent. "It is pointed out by them that because some things are sold abroad cheaper than similar articles are sold at home, therefore the whole syst. :n is wrong. There is more noise raised by the opposition over a single sewing machine which may be sedd for less abroad than at home than a hundred thousand machines, whose manufactures gives employment to American labor, American traveling men, American trade and produce profit which makes for good in all the channels of commerce ef this country. But the-re hasn't yet been lifted a voice from a single member of the opposition to even intimate what is the accepted truth of those who know that for the very purpose of obtaining labor at cheaper wages than obtained in the United States factories have been consfcructeel in Europe for the manufacture of American gelten tad machines upon which patents have expired, and that the products of those foreign factories are distributed In foreign trade at less pri s than the same machines bring at home, because produced by cheaper labor. Neither has a single voire been Ufte! to explain that while in this country the great pro portion of manufactured articles are standards and not manufae t lr.-.l for sab- upon ordcra that in many instances the products

of American mills are shipped abroad. stripped of many of their American clothes In order to meet conditions of trade Where the demand prevails upon other shores, and hence sold at lower prices. Nor has any individual member of the opposition had the courage to explain that there are bargain days among manufacturers, the

same as among r tail lealers when goods go tor less than cot. for the purpose of making room for future consignments; when clearance sales are made, and the returns from such sales afford cash for reinvestprices. Neither has a single individual member of the opposition offered to ex plain that in many Instances factories would be obliged to shut down until the product could be sold unless a part of the product were sold in foreign countries and nized as absolutely nonpartisan and whose report has never been criticised is to be found a chapter upon this very subject, in which the commission says: " 'The practice is quite common in all countries, and on the part of the separate bllshmcnt.- as well as of combinations. Were this plan not adopted it would often be necessary to run the plant! only part of the time, which would not merely throw a portion of the laborers out of employment, but would also add materially to the cost of production of the remaining product. It is probable, therefore, that when the export prices have been at cost the result has been, by keeping the plants fully employed, to hold the pricts to American consumers lower than would have btcn possible otherwise.' " According to the report of the industrial commission but a very small per cent. of the total amount of goods sold abroad ;t sold at les.s prices than at home, iiut accuratc statistics on this point can be ob tained from various 40urce8. 'louring the fiscal year 1902 the total output of manufactured goods in this country amounted to about twelve billions of dollars 412. " to,000 of which there was sold abroad HOMMlTBt and of that amount but $1,962,000 worth was suld at prices lower than prevailed at home. Less than 1 per 'it. of UM total amount of manufactund goods sold abroad brought less prices than the same gooas brought at home. "Is there a retail establishment in any 1 of our large cities whtre bargain days and clearance sales are practiced that can bow a less per cent, uf goods sold at b ss than regular prices than is shown from this foreign trade during the Iiscal year 1902? "Ah, but some one may say the barg-ain-day salts are made in the same market, but they are not made to the same people; and even in cases where retail and wholesale establishments will send a sulplus stock Into a different market than its reg- j ular market for the purpose of clearing i its shelves it would be dinicult for them to show a le ss per cent, ot goods sold at lower rates than obtained in th ir regular markets than occurred in the fiscal year IM ot the- export trade of American manufactured goods, as compared with the home trade of similar products. "It is not difficult to learn from regular reports of the truth or falsity of the charges of wholesale selling abroad at lower rates than at home. During the month of July of this year a letter was written by the editor of the Montejzuma (Iowa Republican to our consul at Sidney, Australia, making inquiries upon this point, and his answer with reference to the sale of the Deering and McCormick reapers clearly demonstrated the falsity of the charges made with respect to these articles. The same thing was shown with respect to other machines in the same market. . "TYPEWRITER" ARGUMENT. "The criticism that typewriters brought $100 in America and but $55 abroad was clearly exposed by the typewriter concerns of this country, who pointed out that the typewriter which brought a hundred dollars in the American market brought a hundred dollars in the foreign market plus the expense of transportation; but that cheaper grades of typewriters, some bringing even $55 and $25. could also be purchased in our home market at the same prices, but that machines of similar quality and similar , raele brought similar prices at home and abroail: the price abroad being greater In I jjiupui iiuu iu nie t-Airnsv ui smpinent. ine cnucmn mat American ieaa sola at home for $4 a hundred pounds and for about 2 or $2.50 abroad was demonstrated to be abI surd by the explanation that the lead sold i abroad was originally purchased in Mexico, 'i'' i i I ill-' tili ft I ii UOUM Iii i l . , i I iji L a duty of 2 cents per pound, was' here relined and snipped abroad, and the drawback recovered according to law. It is not American pig lead which is exported, but Mexican lead which passes through America and is sold in free-trade countries ami at a price it would have sold if imported direct from Mexico. "But even this subject of 'export discounts' is not new. It is almost as old as American trade. As early as 1SÖ0 the subject was discussed at length in Congress, at which time reports from consuls from various countries abre)ad were read, pointing out the reasons for such discounts and the facts which controlled them. The reason set forth in those reports are similar to those which exist to-day, government almost entirely by conditions of trade whereby articles are occasionally sold at lower prices for the purpose of opening up new markets, or for the purpose of enabling the manufacturer to use the discount in the nature of a commission for the extension of his trade, or it was found better to sell at lower prices in order to keep the mills running and labor employed, than to shut down the factories and throw labor out of employment. "The per cent, of goods sold at lower rates abroad, as compared with the total amount of export trade, has always Been comparatively small. But this question is even older than 1X90, at which time this disj cussion was had in Congress. Students of ! economic questions who care to investigate j length in the memorable debate upon pio "IM iiuu vaiv- ' j v x v vvtiuaji.i.u C V teetion and free trade, which tok place between Greeley and Tilden before the civil war. "The American policy bf protection is not to be overthrown in an effort to experiment upon the solution of the trust problem by giving this country absolute free trade. Our labor has learned too well tho lesson of employment under the Republican policy of protection and suffered toei much under the experiment of fre e trade which has occasionally fallen to thfir lot The workingmen of this country are not to be deceived Into lending their aid and support to the overthrow of the policy of protection for the purpose of testing the experiment of tree trade as a remedy for the trust problem. They are not yet ready to ruin business in ordr to hold a post mortem upen the dead boely of the American trust. They are rather eiisposed at first to try a milder remedy and try some sort of regulation, some tonic, if you please, some course of uiet in economics rather than to endanger and posslbiy destroy their own livelihood in an effort to destroy the germ from which the trust is supposed to have developed. TARIFF AND THE TRUSTS. '"The policy of the Republican party is to treat the subject separately and distinct from the question of the tariff. The policy of the Republican party is to examine Into each of the individual cases and where the evil exists to eliminate the evil and leave the good. The policy of the Republican party is to regulate the trade of the combination which has grown so large as to sweep beyond state lines rather than to shut the door against all business in an effort to curb so small a per cent, of the whole. "But even in the efforts which have been attempted in this country to provide laws under which great eombinations could be controlled the Republican party has been obliged to act alone, and has In each Instance taken the initiative. The first pintform ot any political party which ever gave expn-sslon to this question was the Republican platform of lx. That plank was written and read before the convention by William McKinley. The first mention ever made of a recommendation to Congress upon the subject was made by a Re publican President. That recommendation was contai-. ! in the first message- to the Fifty-first ' ngress, and was written by President Harrison. The first attempt to place a law upon the statute books concerning the trust problem was proposed by Senator Sherman, and followed closely upon the recommendation of President Harrison. "When Senate bill No. 1, which afterwards became known as the 'Sherman anti-trust law,' came up for consideration in the House on the first day of May. Psl0, it was opposed by the entire Democratic membership, led by Congressman Wilson, assisted by Mr. Bryan (who was then in the House), and other Democratic members. In his attack upon the bill Mr. iison charged that It was 'a bill dealing with a novel and most important question, a bill that is a new departure in federal legislation, bristling with pains and penalties, denouncing a new cluss of crimes. and imposing prohibitions and penalties on i many acts not now illegal and some oerhajs not properly punishable. Here Is a

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bill that may derange the course of trade among the States, that will bring doubt and uncertainty in many lines of business, both of production and distribution in the country. A bill seriously effecting the business and prosperity of the country, and. what is more, the rights and liberties of the" people.' "Mr. Wilson then argued that free trade was the only means by which the federal geivernment could deal with the trusts. That was the position of the Democratic party In the Fifty-first Congress. "That bill, however, became a law and is on the statute books to-day as the only law upon the tubject. It has been enfer . d only by Republican Presidents. The first case was during President Harrison's administration. The law has been te6tcd and held to be constitutional by the highest courj of the land. Those who may be interested in such erases are cited to the following which were brought under the Sherman anti-trust law: The United States vs. the Joint Tin Hie- Association (171 U. S.. 5051. the I'nited States vs. Addystem Pipe and BteeJ Company (175 U. S.. L'HK the United Slates vs. Chesajeake and Ohio Fuel Company (105 Federal Reporter. f3. ) In each one of these cases the government was sustained. Two cases are now pending, brought under President Roosevelt's administration, one against the Northern Security Company and the other against the beef trust. DEMOCRATS AGAINST LABOR. "It is a singular incident that the only efforts to enforce this law during the De-m-ocratic administration from 1893 to 1897 were brought against labor organizations, which were sought to be dissolved on the ground that they were combinations within the meaning of the federal statute. These eases were the government against the employes and draymen in New Orleans, the government against the Brotherhood of Locomotive Engineers and the famous Debs case. Such is the record of the origin and enforcement of the present anti-trust law. "In the Fifty-sixth Congress an effort was made to pass through the House a resolution so amending the Constitution as to give Congress additional power and proper control of this subject. Under the Constitution such a resolution required a two-thirds vote. The Republicans championed the resolution and the Democrats opposed it. On the vote taken. June 1. 1900. as shown by the Record, every Democratic member, with four exceptions, voted against the proposed resolution, while e I iy Republican number, with two exceptions, voted for it. And every Democratic congressman from Indiana voted in the n galive, and every Republican congressman from Indiana veded in the affirmative "Such is the record of the two parties In the effort to further extend the power of the government so as to afford broader opportunities for the control of this perplexing subject. "In lKXo the Democratic party, led by Mr. Bryan, sought the overthrow of our currency laws as the proper remedy for the stagnation of trade which then prevailed. It required careful study and patient discussion to demonstrate that the proposed remedv was wrong, and worse than the evil. All the power of honest debate was directed against the ir demagogical declamation, and the sound sober judgment of the American people prevailed, the Democratic doctrine was rejected and under the establishment of Republican policies business revived. The same character of denunciation is to-day indulged in by the opposition, while the Republican party again urges reason, common sense and honest debate for the solution of perplexing questions and summons again the sound sober judgment of the American people with whom rests the decision in this political contest. In the choice of parties best able to intelligently cope with these new problems. THE TARIFF. "TVhile I insist that the trust problem is separate and distinct from the question of the tariff, nevertheless I do not want to be understood as opposing changes in our present tariff schedules. I believe the American government to be firmly committed to the doctrine of protection. I be lieve the American people are firm advo cates of this policy. I believe that It has been fully demonstrated that this policy is of the greatest possible value to American labor, as well as the American manufacturer. I believe Its wholesome influences have extended American trade and wonderfully developed the home market for American workmen. The policy, in my judgment, has come to stay. Nevertheless, changes made by conditions of time and production necessarily call for changes in schedules and rates. When such changes are properly demonstrated to . xist. the schedules should be modifie d in keeping with stich changes, always bearing In mind first full protection to the American eiste ss flier "But such change of schedules is a matter of consideration separate and apart from the question of trusts. The mtre fact that a trust, which we will assume is de serving of discipline, may be engaged in manufa( turlng. yet such discipline cannot be given that Individual concern by a removal of the tariff from its product without such removal affecting all other ccrns engaged in similar enterprises, whether the y are de s. rv.ng of the same discipline or not. If there are Ins in present schedules, wherever they may be known, such chanses had better be made by the advocates of the protectivepolicy and not by the believers in free traele. "The days of 1893 to 1896 are not so far removed as to be forgotten. The days of silent mills and idle labor are yet too vivid In our memories for us to wish to return to them. "The party which has always stood for the elevation and improvement of American labor and the advanceme nt and profit to American capital stands ready at the proper time and in the proper way to courage.iusly make changes of sehe dules in our revenue laws to meet the conditions which time and production have occasioned. AN ILLUSTRATION. "I have read somewhere of an artist, who, after yearn of effort, completed the execution of a beautiful picture. His mind seemed to have been controlled by a community of all of the old masters, while his hand had be n guided by the most skillful artists of all times. The result of his labors was to his mind a perfect production. Seeking to justify the belief whlcb his artist dream had given he gave public nedice that on a fixed day his picture would be exhibited in a certain hall, where each individual should be privileged to put upon it a mark wherever there appeared to be an Imperfection. On the day appointed he preceded the crowd in exiectatlon of seeing nothing but wondermei t depleted upon the faces of his visitors. When all had passed. ani many had exclaimed in admiration, while others wore countenances of criticism, the artist was astonished to see mark after mark upon t4M face of the canvas, until the picture hal been totally obscured. In utte r despair he sought his studio, and falling upon his ceuch, the hame influences which seemed to have contrailed him in his work, again suggested to him a second exhibition, at whie h time each one should be privileged to erase from the canvas whatever mark Sjpp red to him to have been wrongly place d. And win I the crowd had again passed, and each again exercised his privilege, behold! the pu -iure hone out in wonderful magnificence and grandeur, without a mark or blur upon the canvas. "In llö2 our trade had reached the highest point in our history, as evidenced by our imports and exports. Labor was well employed and capital was active. Through influences which have never been fully understood the American people changed by their ballots the control of governmei: 1 affairs and parsed to a new period under new conditions of trade. But little whip)

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SALE NOW ON COME EARLY L:l -I J r r ss wasn. mrm wm a mm m . u mm . East elapsed before darkness and despair hung over the country; mills becsme idle, labor walked the streets in search of emphiyment, bountiful harvests sought markets without avail, and business depression and stagnation of trade covered the land. It seeme-d that st that time the crlti I e r placing black marks upon the canvas of the artist of American Industry. There was no part of the picture of '92 left remaining: all was dark and obscure. "But In 1896 the srtlst gave a second opportunity for inspection, and. behold! all marks were then erased, and the beauty of American Industry and trade shone out upon the world with even greater grandeur than had ever before been witnessed. Can It be that the same people who have passed through this trial will again obscure the picture? Can it be that there was no lesson learned from the last mistake that was made? CONTINUANCE OF PROSPERITY. "The prosperity which our people have enjoyed through the paat five years is based upon the policies of sound money and protection advocated by the Republican party In 1S96. The foundation of our business ia the gold standard established by Republican law, and the vast development of our domestic and foreign trade Is due to the stimulus to business encouraged by the protective policy. "The energy of our people finds vent through every channel of trade, and each class of labor becomes a market for the product of the other. The steady employment of the artisan makes appetite and demand for the product of the farm, and the profit of the farmer Is expended for the output of the factory, while the surplus of both goes to swell the constantly inr. asing exports of the Natlein. The construction of the factory ink the neighborhood of the farm makes easy the mutual exchange of products and affords s common field for the expenditure of their surplus savings, and deveiopes a clearinghouse at each county seat. The iines of transportation by rail and water make a net work of lines of commerce, obliterate State boundaries, converts the Nation into a neighborhood and makes the Interest of the individual the concern of the many, and the profit of each one depeneient upon the prosperity of all. Stop the wheels of Industry and you destroy the market of the farm, and withdraw encouragement from the products of the field and the table supply of labor is destroyed. The mutual reliance of each upon the- other and the constant employment of both depend upon the continuance of the prinelples of the Republican party as a safeguard against business disturbance. The establishment of the gold standard revived confidence in capital, stimulated investment and brought the? United States a credit gr. ater than that enjoyed by any other nation on earth. Under Its operation $445.000. Oui of government bomls. bearing 3, 4 and 5 per ce-nt. interest have been canceled and 2 per cents. Issued, the basis of exchange being 2 per cent. While the interest rate was reduced the profit to the government by the exchange was over $11,000,000. While the war with Spain occasioned an increase of $300.000.000 to our bonded debt, advanced tur annual interest charge to 44O,uu0.Hw, we paid off that entire dibt. reduced the interest chargn more than $12.500.000 since Nov. 1. 14. repealed entirely all the war-rev r.ue taxes and have more gold In the treasury to-day than was ever held at a single time by any other nation on earth. The cloud of Susi pie ion has been removed from the credit sf the government, and New York Is rapidly becoming the money center of the worlej. There are yet some things to be done to further strengthen the gold standard, afford proper and adequate relief against congestion of currency and permit honest expansion of credit without encouragement to speculation. The coinage of the silver dollar must be discontinued and Its value secured by an interchange with gold. "When these changes shall be made and the last vestige of doubt removed from our measure of value; when through the ievival of our merchant marine our flag shall bear our commerce into the ports of all nations. International balances will he made in American exchange and American cities will become the clearing houses of the world. The overthrow of Republican policies will defeat, not establish these coneii tions. The continuance of Republican control will best promote them. M K1NLEY S POLICIES. "The bugle blast that heralded the approach of 'the advance agent of prosperity awakened the American people to an opportunity which was grasped in the election of William McKinley. The ambition of his pure heart was to open the mills to American toil, give full employment to an energetic people, protect them In their rights against Ignorant and pauper labor and insure their exchanges in honest dollars. The se things he did, and more. Tha ejuickened activities of the people increased our trade to marvelous proportions. The gold standard sent our credit to unexpected heights. The cry of distress ached his ears and the needs of humanity touched his tender soul. The helping hand of the strong he held out to the weak and the light eif education he set in motion amid the darkened recess of a people blinded by superstitious Ignorance. The cold, hard hand of despotism he lifted from the shoul- ! rs of a el. s.-rving race, to whom he pointed the way of progress and gave object lessons in thrift and honest toil. He waged a ay for humanity and paid Its expense within two years. He drove Spanish tyranny from Cuba, cleaned her cities, gave her a postal and revenue system. clear-d her from the blight of yellow fever, delivered Into her hand an untarnished emblem of a new republic, and at his death left her as a legacy a pledge of friendly trade relatione with the United States. He guided th4 growth of our national credit and steadied the pulse of American trade until the world became our market place. All Europe bent the listening ear to the wisdom of hie council and foreign governments sent their agents to our shores to place their national leans. These were the policies of McKinley. These are fhe bequest- hs left his countrymen when the foul assassin robbed him of his life. The hour of his death was at the crowning point of his Influence, snd a peo pi 2 who loved him for his pure personality, as well as for M." benefits of his administration, will ever hold him in grateful memory and strive to perpetuate principles for which he stood. ROOSEVELT'S AMERICANISM. "Standing within the shadow of the death chamber another took a pledge to maintain those policies, and the trust then accepted still bears uion a heart as honest of Intention, as sincere of purpose, as ever best within a Christian breast. No one can question the purity of character, the courage or Americanism of Theodore Roosevelt. Assuming heavy responsibilities under trying conditions, he has deported himself with honor and credit and maintained the high n. ark of excellence Axed by his illustrious predecessor. Realizing the gravity of tha problems which confront us. he Is bringing to bear upon them the keen perception ef a well-trained mind snd is taking Into his otifldence the Intelligence of the people with rar and unusual candor. "The policies of McKinley and the purposes of Roosevelt deserve the approval of our people by a vote of confidence in th coming elee-tlon. The reversal Of these policies will check the wheels of Industry and turn back the hands upon the dial of progress. Let the banners of carping criticism and discontent be sent to the rear and the emblem of hope and courag lifted high In front bearing the watch words of progress snd prosperity." Politieal Riot In Porto Itlco. BAN JUAN. Porto Rico. Oct 21 -There was a political shooting affray at Arroyo this morning. A mob attacked several i . j, rala w i. n turne d th tir- ..f the Ir ass. ui .ii. ts. Uli man. a Republican, e tilled.