The herald and news. (Newberry S.C.) 1903-1937, June 29, 1909, Page THREE, Image 3
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
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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
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an keep posted
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YS ONLY
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