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Tk)|E C RESOUI Loans and Discounts Furniture and Fixture Overdrafts - - - Cash on hand and Banks - - UNDER S 4 0o Inte 0. B. MAYER, Z. F. WRIGHT, W. H. HUNT, BAILEY MAKES SPEECH. Tells Why He Was Against Free En try of Iron Ore, Lumber and Hides. Washington, June 24.-In a long speech in the senate today Senator Bailey, of Texas, made reply to those -who have been eriticising him for his position in favor of a 'duty on hides, lumber and iron ore and other articles of raw material in connection with the pending tariff bill. His ex pression on the subject of hides is a fair example of what he said with ref erence to the other article involved. '"If,'' he said, "I were invested with power I would not repeal the duty~ on hides until I could also repeal the <duty on shoes and leather goods. I would not repeal either until I could repeal both and I would either have; free trade in everything made out of ~hides, or else I would lay a revenue tariff on the hides.'' He could not, he said, comprehend how a Demoerat could think that he was relieving the ~consumer from the exaetions and op pressions of the manufacturers ,by voting to take the duty off of what the manfueaturers buy from the peo ple and still leaving a duty on what t'he people buy from the manufac turers. "That kind of a man," he continued, "may b)e a free trader, 'but he is a free trader in spots; and the misery of it all is that he selects the factories of this country as the spots where he applies his free trade doctrine. I have sometimes doubted the sincerity of the men who denounce th greed of American manufacturers and then gratify that greed by ex empting those same manufacturers from the taxes which everybody else is required to pay. If they really be lieve that one class is robbing all other classes they ought to punish the robbers and not the victims." Mr. Bailey was willing to concede that the Democrats who advocate free hides desired as earnestly as he did to reduce the priee of shoes and of leather goods generally, but not to concede"-that- they knew as well as he how to accomplish: -this result. "They seem," he said, "to think that the proper method is to first re duce the manufacturer's cost of pro duction and then reduce the price on the finished produet. That will un doubtedly reduce the price of the fin ished product to the ultimate consum er, but there is another and much just-. er way to aceomplish the same end." Outlining this plan, he insisted that the producer of the raw material and the manufacturer of the finished pro duet should be compelled to share in the reduction on hehalf otf the whole peole. On Lumber. With reference to lumber Mr. Bailev contended that the forests would not be p-'eserved by placing lumber on the free lsit. his argument being that the timber lands of the United States and of Canada must supply the demands of both coun tries, and that therefore it would make no difference from which coun try the timber must be cut. He also 1arued that the only people who ~vould be benefitted by free lumber 1from Canada would be the lumber buyers along the Canadian border. "And what right have they?"' lhe ask particular articles? Do they not de ra a protetive tariff upon the ilED 1896A M E N T' RCIAL R Y , S . C. 3, 1909 nsed.) LIABII Capital - - - Surplus and Profits Re-Discounts - Dividends Unpaid Deposits - STATE OF SOUTH CA r Savings Depa T ORS: MMER, I, -c_ FRUIT CANI AND WE HAVE A L TIN( WAX STR WAX Sl MASOIN JAR RU EXTRA Ja SOL] CAPPING SOLDEF TIPPIN4 SUMMER I in what they buy while leaving them protection on what they sell.'' HeI had, however, in season and out of season denounced thi s as a radical, departure from the well established principles and policies of the Demo ratic fathers. After citing many au thorities he traced the advocacy of free raw material to the late Hon. Abram S. Hewitt, of New York, but declared that this doctrine thad never "comamanded any substantial support among the leaders or with the rank and file of that sturdy Democracy which won so many victories and ad ministered this governmnent with su0h consummate wisdom through so many years.'' Referring then to the position of Hon. Roger Q. Mills, of his own State, Mr. Bailey pointed out that as far back as 1896 he, Mr. Bailey, had taken a position against free raw ma terial. He said that in 1900 he had canvassed his State everywhere de nouning ''this fallacy,'' and t-hat he had been elected to the senate on that issue among others. Concluding Mr. Bailey expressed confidence that the time would come when, with a Democratic majority in the senate, lhe would be called upon to aid in passing a Democratic tariff' bill, and he said the did not desire to then be upbraided for casting a vote against the principles of the old time Democracy. ''At their side I stand, and with them I am ready to be judg ed, declaring as I shall do with my last breath. that the sum of all good governments is comp)rehended in the mixim that all shall enjoy equal rights and none shall have special piv~ileg e. * *** When my course is runn there may be many who will think that I have not fought a good flght. but there shall be none who can justly ESTABLISI STATE )OMME N E W BE R June 22 (Conde RCES - - $352,288.64 - 3,I 16.93 - -3,936.86 with - 105,208.79 $464,551.22 UPERVISION OF THE rest Paid in Ou DIREC GEO. W. SU A. J. GIBSON J. H. WEST, meat and the bread stuffs which they produce? Do they not vote for these high duties on manufactured articles * * * * I am actuated by no narrow prejudice and my mind is free from every taint of sectional animosity; but I shall never consent to give free trade to a people who impose protec tion on everybody else. I shall reso lutely stand here and insist that those who apply protection to others shall not be suffered to escape it them selves." In another connection, Mr. Bailey declared that he could not answer to his judgment and ihis conscience as a Democrat for voting to put lumber on tih, free list, while glass, hardware, ement, paint, and everw ther nece's sary material are subject to - 'tv of more than thirty per cent. Saying that he had been told that, free iron ore would stimulate the in dependent steel companies, Mr. Bailey declared that ''there is only a sem blace of competition between the steel trust and these so-called inde pendent companies.'' His informa tion was that the price list of the in dependent companies read like copies of those of t'he trust, a fact which, he said, had led to open charge that there is an agreement between them; He himself did not make that charge, but merely referred to it, but he con tended that whether true or not com petition would no't be obtained by the removal of the duty on iron ore. Mr. Bailey again declared that the' offenses of the trusts could not be reached through the tariff and by ex emptions from duty of raw material. On this point, he said, ''to construe the Democratic demand that trust controlled articles shall be placed on the free list as requiring us to exempt raw materials from duty is to make our party ridiculous in the eyes of all intelligent men. Such a law will neither hurt the trusts nor help the people, because it will not increase the manufacturer's cost of producetion or reduce the price of his finished pro dut. So far as the Democratic party can deal with the trust question through tariff legislation it would re move tariff duties from the finished produts, because that will reduce their price, thus 'hurting the trusts and helping the people at the same time. As every senator knows, I hold tenaciously to the opinion that the only way to destroy the trusts now in existence and to prevent the forma tion of others is to send the men who organize and operate them to the pen itentiary, and I am confident that the next few years will bring all men to1 concur in my opinion. But while I am waiting for that time to come, and ignoring the embarrassment which will arise from the loss of revenue, I' am ready to put the finished product of every trust in America on the free list but I utterly refuse to insult the intelligence of my countrymen by~ asking them to believe that I help the people by lev'ving a duty on what they buy from the trusts a, 4 tXat I hurt the trusts by removing the duty on what they buy from the people.'' r. Bailey's speech was in the main devoted to an effort to show that free raw material was not a cardinal; Democratic doctrine and that he had never advocated such doctrine. He was willing to admit that "'during the time when Mr. Cleveland and his I friends dominated our party. they did commit it to the supreme folly of zin our manufaten rs free trade' BANK JTIES - $ 50,000.00 - 64,965.30 - - 20,000.00 - 823.00 - - 328,762.92 $464,551.22 ROLINA. r tment. L. W. FLOYD, GEO. S. MOWER, JNO. M. KINARD. sa $1 ge th( IING TIME! ,ARGE STOCK OF OANS Or INGCANS yo PRINGS a JARS BBERS AR TOPS J. DER STEELS I FLUX 3 IRONS BROS.OCO. ancd Retail 4 Special Prices to close out WATER C00LES I Regardless of Cost. SUMMER BROS. CO. DISPENSARY MEN MAKE HARD FIGHT IN GAFYNEY Spprtanburg Herald. Gaffney, June .24.-Those who are circulating petitions in this county for the election as to whether or not we will again have the dispensary, claim that they have about 800 signers. This is more than one-fourth of the quali fled voters, and looks as if they will succeed in having the election order ed. Those who are opposed to the in stitution claim that no election can be held in Cherokee county because it is dry now; but the law provides that elections may be held in counties which are ''dry'' provided that four years have elapsed since there has been an election upon the question,. and as the dispensary was voted out on November 8th, 1904, it will be seen that it will be legal to hold another election now as more than four years hay' elapsed since the election was held. Conditions have been so much better in Cherokee since voting out the dispensary that we have no idea that in case the election is ordered it can be carried by the dispensary ele Enent. Full Stock of CAN RUBBERS a.t SUMMNER BROS CO. I REPORT TO THE STATE BAN (cONDENMED) OF THE CONDITIO: The Bank of P Prosperity, S AT THE CLOSE OF BUSINES: RESOURCES: Loans . . $ 97,213-14 Capital Overdrafts.. .1... .,976.03 Surplus Building and Fixtures 4,000.00 Cash in our Due to vault. . $ 6.183.57 Deposit Cash in oth er Banks. 25.494.18 Borrow 31,677-75 $134,866.92 DIRECTOR! S. S. BIRGE, DR. GEO N. L. BLACK, W. H. H J. F. BROWNE, P. B. W DR. J. S. WHEEL Our institution is under the supervi examined by the State Bank Examinei 'HE EXCHANI Newberry, S SAVINGS ACCo Every person in this vicinity ought I vings Department. You can open .00. You can add to it on any plan st that you adopt some systematic, c , surest way to make a success of se We Pay 4 o1 Interest on all Compounded Semi-A Open an account and train yours ice you acquire the habit of laying b ar Income it will become a pleasure nug9umi earning interest for you. DON'T PUT IT OFF. I D. DAVENPORT, EDM President. . L. SPEARMAN, GEO. Cashier. The First @ough of ' p ven theugh not severe, has a tendene tive membranm of the throat and &i Coughs then come esall winter, en dightest cokd. Cfeirst cough 1 set up an hIdamaio in the delicate ca langs. The best remedy Is QUIC: WYKUP. Itatonce gets right atthe moeS the cas. It 1sfree froma Marq a I as for as adt. 25cets at MAYES' DRUG SPI,AL NC McCA LL'S Mi The most interesting Womar cation, illustrating monthly the Patterns, will be sent postpaid One'Year for only 50 cents. By ing McCall's Magazine you c on just what to wear and how FOR~ THIRTY DA We will give ONE McCALL your own selection and C HANDKERCHIEF free of ci yearly subscription for the This offer expires July 15th, A Special Reduction of Pricesi Yours truly, 0. K LIESTI K EXAMINER ' OF rosperity .C. S, APRIL 28, 1909. LIABILITIES. Stock. . . . . $ 25,000-00 and profits . . 12,497-50 other banks. 2,694.01 s . . . . . . . 94,675-41, ,d money... NONE $134,866.92 .Y. HUNTER, UNT, kRNER, ER. sion of and regularly HE BANK .C. UNrS. :o be interested in our, a Savings Account with you see fit, but we sug Lefinite method as that is ving. Savings Accounts, nnnaily. elf in the saving habit y a certain per cent.-of and you will soon have EGIN NOW. / .* R. H IPP, V. President. B. CROMER, Attorney. he Season,6 pillary air tubes of theg [ RESLIE COUGH mst of trouble and re STORE.* L's home publi latest McCall to your address regularly read an keep posted to make it. YS ONLY PATTERN of ~NE LADIES' arge, with each Magazine. 909. n All Departments. PANER