Newspapers / Hickory Democrat (Hickory, N.C.) / Oct. 29, 1908, edition 1 / Page 6
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PRICES OF COTTON Under Democratic and Republican Ad- Cotton Averaged % a Cent a Pound Higher During Cleveland's Entire Term Than Under McKinley's Entire Term. What Will It Go To Under the Roose velt Panic? » ; The Republican-Roosevelt panic has put the whole country in a frame of mind to impartially investigate the truth of history in its bearing upon the • relation of national administra tions to good times and hard times, and this investigation is bringing a wonderful, if belated, vindication of the Democratic record. It has been abundantly proven, and is not denied, that all the panics in our history since the war have come under Republican administrations, ex cept the «ne of 1893, and it has been well established that this one had its beginning under Harrison's adminis tration. Farm products have been the last to feel the effects of this present Roosevelt panic; but, with the price of cotton fumbling to near 8 cents, in a. storm-smitten, short-crop year, af focting most seriously the farming interests of the South, it should pre pare the farmers of the South to give oarefnl consideration to the facts of history as to the relation of national administrations to the great staple crop of the South. Hon. P, A. Woodard, of Wilson, N. C. f has furnish'ed the Compilation of prices of cotton under Cleveland's and under McKinley's administration which is given below, aud these prices should be read and considered in tlie light of the fact that the of cot ton cannot possibly be affected by a protective tariff, as the price is fixed in the markets of the world, while the cost of producing cotton lias been very largely increased by the exactions of 4 high tariff and the robberies of larlff-creatcd and Roosevelt-protected trusts. The figures compiled by Mr. Wood ard, from the highest statistical au thority, are as follows: ki_. . Wilson, ST. C., Oct. 15, 1908. Upon examining the prices of cot- ' ton from the years 1893 to 1900, in elusive, I find that the New York pri ces for these years cover the admin istrations of Cleveland and McKinley. Cleveland was inaugurated March 'SOS.' The highest price reached by cotton during the year was 9 15-16 cents per pound; the lowest price was T* cents per pound. In 1894 the highest price was 8 5-10, tl*e lowest was & 9-16. In 1895 the highest price 9%, the lowest was 5 9-16. In 1896 the highest price was 8%, the lowest was 7 1-16. McKinley was inaugurated March 4, 1597. The highest price reached by cotton for that year was B*4 cents per popnd, the lowest was 5 13-16. In 1898 the highest price was 6 9-16, the lowest was 5 5-16. In 1899 the highest price was 7 13-16, the lowest was 5%, BRYAN ADVANCE AGE ] OF PROSPERITY Remedies Which the Demo iratic Party Offers to the Restoration of Confidence and Quietude and an Even, Equitable Prosperity. The Roosevelt Panic Measures Republican Failure The effort of the Republicans to create a Bryan scare have not only fallen flat, but Mr. Bryan is takins the wind from their sails by pointing out the necessity of remedies and pol icies advocated only by the Democrats for the restoration of confidence and the return of prosperity: "The Democratic party is absolutely necessary to restore prosperity. The Heaublican party has had its chance ind it has failed. We are now in the inidss of a depression for which nat ural conditions furnish no excuse. Artificial conditions are responsible . for the present business prostration ajj those artificial conditions origi na >d in Republican policies. The bu ness failures *ior the nine months ei* ing on September 30 were 11,943 a .lumber, and the liabilities amount d to $179,000,000. It meant that if assets are worth, in fact, the tuiouut at which tbey are placed, .hero will still be a loss of $56,000,000 to account for. "This tremendous loss comes at a tU*e wlyen crops are reasonably good and when nature lias not withheld her bounty. It comes when the Republi cans are in complete control. They liavc a President whom they eulogize in their platform, a Senate completely • in the hands of the Republican party and a Republican House of Represen tatives dominated by a despotic Speaker. We, can assume, therefore, that they have done everything they ceuld do consistently under their poli cies to prevent a panic, and yet the panic is here, it comes, too, when we hftv© a tariff so high that even the Republicans promise unequivocally to wviac it immediately, and Mr. Taft tylfl ventured the opinion that the re vision will probably be downward. What docs it promise to do for the protection of the public? What poli cies has it that look to a restoration of prosperity? •A member of the British cabinet said recently in aspeeeh that the ex ports of cotton goods from Lancashire had increased 'eleven per cent over last year, and he declared "that the Cotton exports of the United States had fallen dff. forty-five per cent in the same period. If this is true, hoto will the protectionists explain it? "The Republican party cannot es cape from its record. It is important to protect the public, because its poli ties have for their object hot the ad vancement of the general welfare but the enrichment of a relatively small number of the people at the exitontte of the rest of the people. If wo are to hare prosperity, we must restore maeneudence in industry. The Re publican party does not promise this. On the contrary, it pledge* itself to a continuation of the policies* under which trusts have grown and fattened at the expense of the public. Democratic party does prom ise to prevent the creation of private h To have prosperity we mußt hay a harmonious co-operation between labor and capital. The Re then not promise this. vT . 1 Promises to con -1S& Policies which ♦straiwped \ and have made la bw troubles acute. The Democratic *Si Stnrtiee bat Wean labor , a . nl a restoration of place ,d friendship between employer and ministrations In 1900 the highest price was 11, the lowest was 7 8-16. It will thus be seen that cotton reached its lowest price during tht years 1898 and 1899 of McKinley's ad ministration. Taking the average prict during the administrations of Cleve land and McKinley, we lind that foi the year 1893, the first year of Cleve land's administration, cotton averager 8 2-3 cents per pound. The iirst yea» of McKinley's administration cotto» averaged. 6 15-16 cents per pond. In 1894, the second year of Cleve land's administration, cotton averager" 6 15-16 cents per pound. The seconc year of McKinley's administration cot ton averaged 5 15-16 cents per pound The third year of Cleveland's ad ministration cotton averaged 7 23-32 cents per pound. The third year o 1 McKinley's administration cottor averaged 6 27-32 cents per pound- The fourth year of Cleveland's ad ministration cotton averaged 8 cents per pound. The last year o* McKinley's administration cottor averaged 9% cents per pound. l It will thus bo seen that cottoi averaged during Cleveland's admin is tratiou 7 tt-7 cents per pound, an« during McKinley's adininLstratioi 7 1-10 cents per pound. The lowest average price cotton has ever sold at since any record haf been kept of its price was during the three first years of McKinley's admin Istration. The prices referred to were New York prices. North Carolina price were at least % to % of a cent, ies* than the New York prices. I trust that these figures may be of some service to you. They are accu rate. Of their accuracy I have no doubt. They are collected from a publication issued in 1907, made bj Alfred Shepperson, recognized as on* of the most accurate cotton statisti cians of the United States, and thej are verified by examination of th« books. of some of the cotton mer chants of Wilson. You will notice that during the year.' 1893, 1894 and 1895, while at some periods during the season cotton reached in 1893 7% eents, during tht same year it also reached 9 15-16 and while in 1894 it Veached 5 9-1 during the same season it reached 8 5-16 cents; and while in 1895 it solr as low as 5 9-16 cents, yet much o the cotton was sold *t 9%; and dur ing the second and third years of Mc Kinley's administration, and whil the McKinley tariff bill was in opera highest price at which cottor was sold was in 1898, 6 9-16 pei pound, and in 1899 the highest pric at which cotton sold was 7 13-lf cents. employe. '"To have prosperity we must pro tect the depositors and thus induct them to take their money out of hid ing and restore it to the channels oi trade. The Republican party doe* not promise protection of deposits The Democratic party does. Tht Democratic party promises legisla tion which will insure • depositors. The man who puts his money in a bank must 'know that he can withdraw it at any time, and this security would be given by the banks, because the banks make their money out of theii depositors. If we are going to havf prosperity we must have a reduction of the tariff-. The people recognize the tariff is extortionate. Even th( Republican leaders are forced to ad mit this, and yet they are deliberated planning to prevent any real revision by electing a stand-pat Congress while the Republican candidate is talking revision, without giving any assurance that revision will mean a material reduction. If the Republi- f a fs~P ar ty wins, it will not revise the tariff in the interest of consumer and that means that the present agitation continue for four years longer. Do the business men. want busi ness unsettled ? Do the businss men want an extension of this agitation? i-»o they want business to be unsettled rT f°" r discussion over tariff rates. If the Democratic party wins there will be an immediate reduction K tariff which will satisfy the public demand and remove the tariff question from politics for a number if years. A Democratic victory mean® prosperity, prosperity to all the peo- Pf 08 P eri ty that will be perma nent. it means the remedying oi abuses; until abuses are remedied there can be no peace and the sooner abuses are remedied, the more easily can the remedy be applied." / it were possible to draw a urac ils if 1 i° e J uita We in its term, that it would benefit every Americai citizen exactly alike its effect upon one would correspond exactly to tin benefit which the father conferred on hl| u « penny to go tori l V . OU / any Bn pper and then took it back from him after he had gone to sleep. If its benefits wer. n >nfe "ed with exact equality then then there would he no benefits. There is no sleight of hand method by government can Jut a dol'- Vw® trcasm y of tlle trust hi* iV At * # earned wlthout-tak eifo » )ocke t of some one eise. it Ls the very inequalities of which give i? strength Those who get millions more than their share out of it contribute of their unequal gains to keep in power tho party which gives it to tbenu I fe « a V?" wonder the Republicans are tolet the people know before a*e cast from whom tho are getting the money to buy the elec gettin''°it° " amounts they art * 9 v §\ I,L*A _ _ _' _ : -.^jfrVAa Just before this issue was put to press an inquiry was wired Hon. Josephus Daniels, National Commit teeman from North Carolina, and Chairman of Publicity Bureau of National Committee, who has been at Democratic Headquarters in New YorK for the last ten days. Mr. Daniels, from that vantage ground of ob servation and intimate Knowledge, wired: "Predict that Bryan will carry New YorK, Indiana and Ohio, and enough other States to give him the majority in the Electoral College. The attempt to buy and intimidate this year will not succeed. Threat of hard times cannot be effective after Republican panic, and the attempt of the trusts to buy the election can not succeed again. : * Statistics compiled by Dunn's Com nercial-Agency show, that wages have nereased 19 per cent during the op rations of the Republican Dingley ariff law. Statistics compiled by the ame authority show that living ex >enses have increased in the same ime forty-nine per cent. .No wonder he "dinner pall" was but scantily fill d before the Roosevelt panic knocked lie bottom out of it. How can you upport an administration that has Iven you* 19 per cent of prosperity 'o carry 49 per cent of burden? Some day the sober sense of tlif icoplc will awake to the fact that a vail of protection nrrfund the country, s as effectually a block to American na mi fact urers from marketing their >roducts in foreign countries as it is igainst foreign manufacturers rendi ng our markets. To be sure there is to exact tax on exports. No one vould stand for tliat. We all recog •ize the necessity for finding foreign narkets for the surplus of our manu actures. But the wall of protection : nder which the trusts have organized •dds at every turn to the expense of he manufacture and thus handicaps he American manufacturer hi his cf orts to get a fair share of the busi •ess in the world's markets quite as •fflectually as would a tax on exports. Mr. Farmer: In the production of vour cotton, the .great staple crop of 'he South, you are taxed at every urn by a protective tariff so high that ven the Republicans admit the need >f revision, but the price of your crop ! s fixed in the markets of the world. There protective tariffs cannot possi bly affect it. Haven't you paid enough >f tribute to tiie trusts? "Our Republican friends may be onfident that every vote cast will be honestly counted as cast, but as fai ls carrying the election in North Caro ina is concerned, they had as well !>ut their ballots in the rural free de livery box."—W. W. Kitchin. ou can't argy agin a success," »nd induced passenger fares in North Carolina have been so completely suc cessful that it is shown by sworn re ports of railroad officials tiiat railroad earnings from passenger fares bate been greatly increased under the low rates, which are at the same time sav ng to the people of the State a hun dred thousand dollars a month. I \ - « '*cr • BRYAN'S SEPARATOR SPEECH he Best Hit of the Campaign. Are the Cows to Go Dry for Four Years if Bryan is Elected ? The Bryan Scare "Bluff" of One Manufacturer is Called by Another Who Tells Employees of the Intimidator, "Come Over to My Factory and Get WorK if Bryan is Elected.'' * Intone Bf his' speeches in Missouri last Saturday, Mr. Bryan referred to an item that appeared in the papers that morning, regarding a threat made by a Pennsylvania manufacturer of cream separators. Mr. Bryan said: "A press dispatch announces this morning that a Pennsylvania man ufacturer of cream separators has given notice to his employes tha.t the factory will close down for an extended period if I am elected. This is the most discouraging threat that I have- yet read. I had supposed that the cows would go on giving milk under a Democratic administration as well as under a Republican administration, but if as a result of my election the cows are going to dry up in November and not become fresh again for four years, it will really be a serious matter. There must be some mistake about this separator business. The man may be manufacturing the separator that the Republican party has been using, for it has been using a separator that has sep arated tlfe-cream from the milk and it has given the cream to the mo nopolies and the skimmed milk to the rest of the people. That kind of a separator will no longer be used and those who manufacture it may find their occupation gone, but for the rest of the people It will be a glad day, a day of great rejoicing." «■ These kind of threats fall flat of their own weight in the year l. r )08. Laborers, with the dinner pails already but scantitly filled, if • not. empty, are_ not to be intimidated this- year. Business, under the paralysis of this Republican panic, is coming more and more to view Mr. Bryan as the harbinger of go d times and a return to sound and enduring'principles. In the particular case referred t above the threat- becomes a boomerang when challenged by a rival manufacturer as follows: v _ „ , , w terloo, lowa, October 14, 1908. -Norman E. Mack, Chairman Democratic National Committee, Chi cago, Illinois. « ■ t>ea T Si . r: —l have seen the tlireat of the Sharpies Separator Com pany to close down their shops in the event of Mr. Bryan's election, wc, as the largest manufacturers of cream separators in the United .States, will agree, in the event «»f the election of Mr. Bryan and the uireat or the Sliarpes Company being put into effect, to take the men °" r ? 1 Y p, ° y ' 1,1 vlew « f the f act that the finished product of the ' 'l U l° raw material of a separator factory and under the present tariff the steel trust is permitted to .charge us 50 per cent S ""~ & S By W. M. Marsh, President.' 0 A DAm¥ S F ARA *>* CO " GUARANTEED BANKS The Democratic Plan for Securing BanK Depositors. Simple, Practical Method That Will Secure the D posjfor, Establish Confide nee, Prevent Panics ar Keep Money in Circulate n. The following prepentatlon of the guarantee of bank deposits was" pre pared by Col. P. B. Arendell, who spent some time in Oklahoma, where the plan is now in successful operation. He has investigated and seen the bene ficent effects of its operations, and presents. Its advantages and answers its opponeftts simply, clearly and forcefully: The Democratic party in its plat form proposes a safe, sound, simple and economical method of guarantee ing the bank deposits of the great mass of individual depositors without whose money the banking business of this country could not survive for a single day. It is a practicable, fea sible business proposition, the princi ple of which* is being applied every day to-almost .every phase of business and commercial life. A co-operative plan based on common sense, without frills or nt-cessary friction, a plsm th«u has riveted the attention and wOn the support of thousands and hundreds of thousands of the brainiest and most prominent men of all parties, and all sections of the country, who realize the fact that there is a growing de mand for some pracitical and effective metho7, the provisions of which will furnish security- to the people who fur nish nine-tenths of the money upon which the banks of the country do "business. The plan proposed by Mr. Bryan and embraced in the Denver platform is simple, sensible, sound. It provides for a guarantee fund to be raised by a small tax on bank de posits, to be paid by the banks and held in the national treasury, and to be used only for re-imbursing the depositors in case a bank should fail— or a bank official should squander the depositor's money. - I That's all there is in it. It simply | proposes to guarantee the depositor's money, and if carried into effect it will do it. Should the individual depositor be protected? Why not? And why should the banker be' the onljr person and the bank the only institution that de mand the use of the people's money without security? If the National Government wants money, and it. frequently does, it will give to the man who furnishes the money United States bonds bearing interest as security. Not even the government asks for the people's money without security. If a railroad company wants your money it wUI i give you. interest bearing bonds se cured by" a mortgage on the railroad. If a cotton mill company-wants your money it will give you a mortgage on its mill. If an individual wants your money he will give you as security a mortgage on his home with h's wife's signature attached, and if he don't pay you back, principal and in terest, the law provides that you may sell the home "and apply the proceeds to the payment of the debt. And when you come to think about it who else beside the individual depositor con nected with our -banking system are not protected or insured. Ask the president of the bank if the bank building, the furniture and even the piate glass windows are insured, and if he is a prudent man he will tell you yea. Ask him if the bank of ficials are required to furnish security for the faithful performance of their duty and he will tell you that each one of them is required to furnish good and sufficient bonds for this pur pose. Nor is this requirement regard ed as a, reflection upon the banker's character or ability. Ask him if the United States'government or the State ol North Carolina exacts security fat* the deposits they carry in his bank and he will tell you yes. Ask him if he keeps his own life insured he will most likely tell you ysss. And many of them will tell you that tjtwy carry burglar- insurance and you would natural!) conclude that every* thiny and everybody, - ajrupud ttat, t bank was pvui ei'teo and insurant But J*. yHIvWUI jisJi who fnrnlflh— fK ► money upon whi> ii nk wWS business and makes he will BRYAN 10 I I THE FARMEH The Republican speakt r« trying o practice the snmorti'® on the farmer that the, nra™® the laboring man. It is i J l ,-® ibasket" now. The see:' hmri W Lof big crops and high pr,. r-V that the Republican pan- H credit for it Does th party hold the cloud in its h-mrilW it scatter the rains in ® Does it furnish the simsn fertile soil? It is Republican leaders to nv[ ,; m I that belongs to a go erous wS father. Is Republican legislator r for the price of farm pr.,:hu; t VrH Canada farm products aro - . i H there is no Republic:; n p,3.8 Canada. In England i:u»i r„:l are as high, and they h. Republican party nor a there. K 1 «■ What has the Republican partvfl for the benefit of 4he farmer ' v'JM thing. But it has permitv.i the fell to be afflicted by "known ha-e grown up under Republican M —the abuses that the ers refused to remedy. The farmer has suffei. ] f rom I extortion of the trusts; h,. »ifl ed from the burden of high tarlffl has sufered from the insecurity rfl deposits, and he shar.-s in the ■ that follbw from the gr- > ;ng ostraß ment between labor-ari.i r travagance in Federal appropriate lessens his income and he finds 9 self unnecessarily taxed to supposß colonial policy in the Orient. M The farmers believe in the ru!eH the people, and tills has be.-n preWß ed by the Republican loaders- I farmers believe in the e'ection of! I ators by popular vote; and this p) U osition was defeated in the p iept ean convention; the farmers bel in honest elections, as well as in ho government, and they know that, Republican convention rejected publicity plank. Mr. Taft und« mates the intelligence of the far) of the West, when he asks the accept the Republican record o last eleven years as evidence of ' willingness of the Republican part] 1 do justice to those who till the soi ' . • • The Republican party in Xol Carolina has no more of oharann it in 1908, under the leadership Spencer Adams than it had In 1 when "the, rape extenuating Jud was delivering stump speeches Ir the bench. The addition of Char] French Toms and Iredell Means K not perceptibly increased the genei average. "Taft—-the moon which reflects t1 light of the Roosevelt Sun."'—Jo Sliarpe Williams. tell you that nine-tenths of it is fu nished bv the individual depositor Then ask him if these individual d> positors are secured and he will s oh, no, they are not insured; they g no security or guarantee. Is that fair? Is it the correct prl ciple. Is it the wisest policy? J Bryan says no, the Democratic pai says no. Every panic that happens every money scare that occurs—eve frightened dollar that's in hidir. every uneasy depositor—they all, i acclaim that is loud and growii louder, say that it is neither a com principle or a wise policy. Ev i clearing house certificate and eve, « cashier's check that went out up the financial flurry a year ago was warning that neither the principle the policy is safe, sound or fai Every declaration on the part of M Taft or any of the Republican leade •in* favor of postal savings bank other government method of currencl! concentration is a warning to tusinen| men, financiers and the people everj) where that this diseased spot in ouljj financial system must have safe an effective treatment, if a steady flo 1 of our currency into Wall street an other money centres is to be avertei ) And whafs the matter with th method proposed by the Democrati party? It is practically the sam co-operative principle that the in surance company adopts to enable i to pay the loss sustained by the burn ing of the bank building, or the deatl of the banker whose life is insured It's the same principle upon whic the State raises a fund for the build ing of schools and educating the chll dren, weak and strong alike withou discrimination. Do away with thi principle of taxing the strong for tl) benefit of the weak and you woud de stroy our system of government, bot! State and national. But Mr. Taft says it is a wild-ca proposition. He did not say that unti! he got close to New York. Out in Kansas and the Dakotas, where hi." party has adopted the 'plan in their State platforms, he said nothing about it being a wild-cat proposition. Out in Oklahoma, where the pjan is in successful operation and almost universally- endorsed by his own party and where only one out of five hun-l dred and twenty banks have failed! since the plan went into operation, hel would not think of saying anything J abotit it being a wild-cat proposition. 1 If he did the first banker lie met-3 would tell him that between the date? j of February 12 and July 25 the indl-J vidual deposits in the secured bank' j in Oklahoma increased more thai- S $4,000,000 while there was a decrease J in the unsecured banks of more than a million dollars. This Oklahoma bank er, whether Democrat or R e * publican, would tell him that between the dates of July 25, and October $ of this year, just 70 days, notwith standing the continuance of the publican panic the individual d( posit in the protected banks in Oklahoma increased over three .million eight hun dred thousand dollars. These Okla homa merchants, coal miners and men of all dealings would te!i him that there were, no frigrftenr d dollar 5 oY even dimes in Oklahoma an J that instead of the money flowing out Oklahoma into the money center-*, that it is rapidly flowing into Oklahoma t« secure the protection furnished by i plan which Mr. Taft says—win a gets near Washington or New Y rk—"J a wildcat scheme. But Mr. Taft and some of his sympathizers 6av that th« plan would- invite into the" banking business unreliable, unsafe and wildcat banks and bankers, which is enuivo- U»nt to sarin* that the nation" i ana State administrations are going to hsa» no more sense than to go into tw business of chartering, legalizing and turning loops UDOQ th«. public a lot oj wild, jaursljablo .and irresponsible tanks and bankers. Jtr. Taft and F. B. AkENDELLv^
Hickory Democrat (Hickory, N.C.)
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Oct. 29, 1908, edition 1
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