Jasper County Democrat, Volume 6, Number 30, Rensselaer, Jasper County, 31 October 1903 — POLITICS OF THE DAY [ARTICLE+ILLUSTRATION]

POLITICS OF THE DAY

In'the Grip of Monopoly. nte anthracite monopoly bax a firm bold of the country and has gradually advanced prices until the Increase la over one dollar a ton above the rate charged before the great coal strike wag Inaugurated. That a complete monopoly exists in the supply of anthracite coal is apparent, for the trust not only controls the vast majority of the mines, but also the railroads that carry the coal to market. The trust makes the price of coal at ths mines comparatively low, and charges enormous freight rates; In this way It keeps the independent mine owners at Its mercy. The soft coal trust Is equally exacting and baa Increased the price even more In proportion than the anthracite has been raised. In the Western States another coal Combine has the people at Its mercy, so that even that ardent advocate of protective tariff and monopoly, the St Louis Globe-Democrat, says: “Is the public of St. Louis helpless In dealing with the existing corner in coal, a situation that has existed for two years, and takes an aggravated form again as soon as there Is a hint of cold weather? Reforms were promised last year as a result of the strike commission, but conditions lu St. Louis have not been Improved in the smallest degree. A monopoly here has absolute control. It could place the price at fifty cents a bushel, and would do It but for fear of the wrath of the people. It will charge all that It dares, and it Is by no means lacking in audacity. Con the people do nothing to defend themselves against the rapacious and dangerous combine? Goal must be had, cost what It will. The many are trampled upon shamefully In this matter. If they are defenseless, the Legislature should be called in extra session to provide relief.” Thus this Republican newspaper calls for relief from the Legislature when it well knows that these coal monopolies are interstate corporations and can soon be broken up If President Roosevelt will order his Attorney General to prosecute the trust magnates under the criminal section of the antitrust laws. The example of one monopolist In Jail would have more effect In suppressing the extortion of the coal and other trusts than all the proceedings under the civil law that can be forced through the courts until doomsday. The two actions against the trusts which the administration relies on for popular approval are the railroad merger, suit and the injunction proceedings against the beef combine. Both of these cases are now in the Supreme Court and may be decided at the fall term, but is any one lnnnocent enough to imagine that the decision in those cases will curb the rapacity of the railroads or the beef combine? These two suits are not intended to stop the rapacity of those trusts or to stop other trusts from preying upon the people, but to lull the voters Into believing that the Republicans are opposed to trusts and are trying to do everything possible to stop their exactions. No trust has reduced the price or profit on their products since those trust suits have been commenced, neither has the merger of competing lines of railroads been stopped, for new combinations are constantly being reported and freight rates have been advanced on a majority of the railroads during the past year. It Is plain, therefore, that the railroads understand that these suits are harmless. That the beef combine is still doing business on the old scale and with Increased profits Is shown by the market reports from Omaha and other cattle centers. The New York World says: “For beef steers the trust pays the producers 25 per cent less than last year, while charging 10 per cent more to Its customers. - " Profit to the trust Increased by 35 per cent. “For pork the packers pay 40 per cent less than last year and charge 15 per cent more. Increased profit, 55 per cent.” The farmers and stock growers are obliged to send cattle and hogs to market when ready; If fed beyond that point there is no extra profit The beet and hog combine fixes the price to be paid at the stock yards and so are practically the only buyers. The farmers and the consumers are ..both squeezed by this predatory combine for the benefit of a few men who are piling up millions.

In the meantime the executive arm of the government seems paralyzed and unnerved by the hypnotic Influence of the trusts. With the plain provision of the anti-trust law constantly before them, the law officer* of the government stand idle. The fourth section of the law says: “It shall be the duty of the several dlsfrict attorney* of the United States In their respective districts under the direction of the Attorney General to Institute proceedings, etc." And 1 section 2 provide* that: “Every person who shall monopolize, or attempt to mopopolixe, or combine or conspire with xny other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be thousand dollar*, or by Imprisonment net exceeding one year, or by both

said punishments, In the discretion of the court.” That is the law, and if Attorney General Knox does not enforce It the President can at once enforce him to do so, or if be cannot find a Republican lawyer sufficiently learned In the law, who Is not free from the trust virus, the Democracy can lend him several who will enforce the law to the letter. Republican LeAder* Agree. If the information given out from the White House is correct, the Republican leaders have agreed with the President that no financial legislation shall be attempted at the coming session of Congress. The reason assigned is that the country Is so prosperous that there is no need of such legislation, but the large number of iron furnaces and other factories shutting down and the reduction of wages already commenced, prosperity cannot be the true reason. It is only a few months ago, at the close of the last session of Congress, that Senator Aldrich, who represents Rockefeller and Wall street more faithfully than he does the State of Rhode Island, said In the Senate that if his bill for the relief of the banks was not passed the country would go to perdition. Most of the country has managed to rub along since then except Wall street, which has been In the dumps mainly by reason of the avarice of the trust magnates in biting off more than they can chew. The President and Secretary Shaw have given the banks all that the Aldrich law promised them, and more, too, for whereas that law proposed the banks should pay a small per cent on government deposits, the administration has given them the use of over $1(10.000,000 without one cent of interest. To bring these matters up, Just on the eve of a Presidential election, and have It debated, so that the voters of the whole country would have their memories refreshed about the favoritism shown the banks, would be a bad political move and the Republican leaders have therefore decided against doing so. But the rotten condition of Wall street and the enormously high trust prices which protection has engendered have had their effect. The boom is busted in Wall street and It Is very evident that the puncturing of that Inflated balloon is having Its consequences In every city, town and hamlet where a speculator can be found. The banks, even other than those In Wall street, have had to draw in their horns and the building boom and the real estate boom and the steel boom and several other inflated industries are collapsing and showing signs of depression that warn honest citizens to be careful. Get out of debt and keep out until the storm is over Is the best advice that can be given.

This business disturbance has been termed a rich man’s panic, and it is to be hoped that It will not spread to the undoing of honest folk. The good crops and fair prices for agricultural products will protect the farmers from distress, and if the extortion of the railroads and the trusts were abated, reasonably good times would ensue in spite of the reduction in the volume of business in other pursuits. If financial legislation is needed why does not President Roosevelt and the Republican leaders honestly bring forward their proposition? Such a measure being for the benefit of the whole cauntry and not for a favored class, they need not fear the voters like they now evidently do. The coming Republican Congress could do nothing better to endear their party to the hearts of the American people than by enacting righteous legislation. To reform the tariff and stop the extortion of the trusts would surely cause the Republican ticket to be elected. But they will not do It, because the protected interest*—the trusts and monopolies have too firm a grip on the majority of the Republican leaders and the banking Interests—Wall street has an equally grim hold that they dare not sever.

Coal Baron—Here, stop that digging! We’ll have coal to burn the first thing we know.