WHY BRYAN WAS BEATEN

New Zealand Mail, 21 February 1901, Page 11

WHY BRYAN WAS BEATEN

THE DEFEATED PRESIDENT EXPLAINS. The most important in the 'North American Review” for December is that in which Mr Bryan explains why he lost the Presidential election. He says the Republicans had a vast campaign fund; they were able to frank their voters over the railway lines-; a war was in progress, and the average man did not want to "swap horses” while crossing the stream. Then the "prosperity” argument swayed thousands. Of the- temper shown in tha election, Mr Bryan gives an amusing instance. A distinguished member of the Republican party, when asked whether he would vote the Democratic ticket, gave vent to his partianship and ■aid: "No; a thousand times no! I’d rather go to sea in a boat of stone, with sails of iron, and oars of lead, the Avrath of God for a gale, and hell for a port We give Mr Bryan’s version of the part money played in the great fight: MONEY IN POLITICS. The magnitude of the fund which can

be collected depends upon the interest which the great corporations feel in the result, and upon the imminence oi the danger 1o the pri\dleges av filch they are enjoying. Prior to 18j6, the money element oi the country Avas - divided between the two leading parties; bat, even then, the Republican party had a. considerable majority among the bankers, railroad magnates and manufacturers. In 1836. the Republican party secured the support of practically all of those capitalists who thrive through governmental favouritism, or in the absence of necessary restraining legislation. The Republican campaign fund that year surpassed any fund employed in previous campaigns, but the immense amount then employed avoukl have failed of its purpose but for the coercion practised by money loaners and employers of labour. Since 1836, the consolidation of Avealth has gone on with a rapidity never before knoAvn. The following _are a few of the large combinations which have been formed Avithin. the last four rears:

The American Agricultural Chemical Co., organised in 1839 has an authorised capital of 40,000,000 dollars, and controls twenty-two of the largest fertilising concerns in the countrv.

The American Hide and Leather Co., organised in 1839, lias an authorised capital of 35,000,000 dollars, and controls about seventy-five per cent, of the upper leather output of the country. The American Linseed Oil Co., organised in 1898, has a capital stock of 33.500,000 dollars, anti controls’ ever eighty-five per cent, of the linseed oil properties of the "United States. The American Steel and Wire Co., organised in 1839, has 90.000,000 dollars of stock, and controls about eighty per cent, of the nail and Avire products of the United States.

The American Thread Co., organised in 1838, has a capital stock of 12,000.000 dollars, and consolidated fourteen large thread companies in Aew York and New England. The American Tin Plate Co., organised in 1898, lias 50,000,000 dollars of stock, and controls about ninety-five per cent, of the tin plate output. The American Window Glass Co., organised in 1839, has 17,000,000 dollars of' stock, and controls about eighty-tHe per cent, of the output. The Ameiican Writing Paper Co., organised in 1899, has 25.000,000 dollars of stock, and controls OA'er seventy-five per cent, of the output. The Continental Tobacco Co., organised in 1898, has a capital stock of 100,000,000 dollars, and controls the leading plug tobacco factories of the country. The Federal Steel Co., organised in 1898. has an authorised capital of 200,000.000 dollars .and is a consolidation of several railroad, steamship, and . manufacturing companies. The International Paper Co., organised in 18D8, has an authorised capital of 45,000,000 dollars, and controls • eighty-five per cent, of the output of neAvspapers. The National Biscuit Co., organised in 1828, has a. capital of 55,000,000 dollars, and controls one hundred and sixteen plants. The National Salt Co., organised in 1839, has 12.000,000 dollars capital, and controls ninety-fiA r e per cent, of the output of salt.

The National Tube Co., organised in 1899, has a. capital stock of 89,000,000 dollars, and controls ninety per cent, of the output. The Rubber Goods 1 Manufacturing Co., organised in 1839, has a capital stock of 50,000,000 dollars; the Standard Rope and Twine Co., organised November 8, 1836 (five days after the election), consolidated twenty-two large cordage mills, and fixed the- capital stock at 12,000.000 dollars: the Union Bag and Paper Co., organised in ,1899, has a capital stock of 27,000.000 dollars, and controls ninety per cent, of the paper-bag business; the United States Envelope Co., organised in 1838, has a capital of 5,000,000 dollars, and controls ninety per cent, of the output of commercial envelopes; and the United States Cast Iron Pipe and Foundry Co., organised in 1899, has an authorised capital of 30.000,000 dollars, and controls the principal castiron pipe factories. All of these trusts, and many others, had a pecuniary reason for supporting the Republican ticket, for they have not only enjoyed immunity during the present -Administration, blit they had every reason to expect further immunity in case of Republican success; while the Democratic platform and the Democratic organisation, were outspoken in their condemnation of private monopolies, and the candidates were pledged to aggressive for the extermination of all combinations formed in restraint of trade. WHAT THE TRUSTS GAINED.

Since the election the meat combine at Chicago has raised the price of meat. One paper estimates that the increase ■vyill amount to thirty-nine millions in one year. If this estimate is correct, the beef combine alone could afford tc contribute fifteen millions to the Republican

campaign fund, for this would be less than ten per cent, of the amount it could realise in four years from the increase before mentioned. Such a campaign fund would be sufficient for all legitimate purposes, and leave enough to purchase every floating vote in the United Sbites and to colonise all the doubtful States. On the

day before the election of 1900, the stock

of the Standard Oil Company was worth six hundred and twenty-five dollars per share, the par value being one hundred dollars. According to report of Henry Clews and Co., the Standard Oil Co. paid twelve per cent, dividends from 1891 to 1895. In 1899 it incorporated under the laws of New Jersey, and controls twothirds of the output of oil in the United States. This year its dividends will aggregate about fifty per cent, on the capital stock. The Standard Oil Co. alone, by contributing a small percentage, of its profits, could so finance the Republican Committee as to secure a victory for that party in any close election. I have mentioned two trusts, whose contributions might be enormous. There are several others, any one of which out of its profits could supply a campaign fund ten times larger than it would be possible to raise from the people, who are the victims of

all the trusts. Can anyone doubt that such conditions Aviil result in increasing injustice to the masses, and in fabulous fortunes for those who stand at the head of the monopolies? Is there anv reined a' for the improper use of money in elections'? Yc-s. there is a remedy, a statute making it a penal offence for any officer of a corporation to contribute corporation funds to a campaign fund, limiting the amount that can be legally expended by candidates or committees, and compelling the publication of the names of contributors to campaign funds, together Avith the amounts contributed. Such a laAv avoulu help, and yet such a. law would be a dead letter unless enforced, and such a law would not be. enforced unless the conscience of the people was aroused. DROWSY CONSCIENCES.

The most surprising feature of the campaign was the indifference manifested by many Republicans to the attack on governmental principles heretofore regarded as sacred, me party in poAver is clearly committed to a colonial policy so repugnant to our history, our traditions and our political maxims that there Avas no suljstamiai effert made by Republican leaders to del end the party’s position. Where a defence was attempted the gist of it Avas about as follows: "we did not Avaut the Philippine Islands; thev came to us by accident; but uoav that we have them we cannot honourably let them : besides, it looks as if it A\'ere God’s Avork; and then, too, there is money in it.”

Destiny, Divinity and Dollars! The destiny argument is a subterfuge. Buhvers description of it is the best I have seen. In speaking of William of Hastings, who laid his sms at the door of destiny, he says : “‘lt is Destiny!’ phrase of the xveak human heart! ‘lt is Destiny!’ dark anol°gv for every error! The strong and virtuous admit no Destiny! On earth guides Conscience, in HeaA'en watches God. And Destiny is but the phantom Ave invoke to silence the one, to dethrone the other!” IS THE MONEY QUESTION SETTLED? To consider this election as decisive of the money question Avould be as absurd as to have regarded the election of 1836 as decisive of the tariff question. It would be more reasonable to regard the late election as conclusive upon the question of imperialism, or upon the trust question, botn of Avhich Avere discussed more by our people than the money question. But, as a matter of fact, an election is not necessarily conclusive upon any question. The tariff question Avas prominent in the campaigns of 1876, 1880, 1884, 1888 and. 1832, and entered into the campaigns of 1896 and 1900, and yet no tariff reformer belie\-es Hie tariff question settled. Prior to 1896, all parties declared in favour of bimetallism, although many of the leaders in the Democratic and Republican parties favoured the gold standard. In 1896, all parties Avere pledged to bimetallism, but the line Avas drawn betAveen independent and international bimetallism, Avhile the last campaign ihvolved other and more serious questions. If any person is disposed to believe that the campaign of 1900 turned upon the money question, let him Avatch Republican legislation, and he will see that tne party in poAver construes the result as an endorsement of Republican policies upon several other subjects." The increased production of gold has lessened the strain upon, gold, and lias to some exteiit brought the relief which- .Democrats . proposed to bring in a larger measure by the restoration of silver..: but there is no assurance Avhatever that the gold supply, eA 7 en Avith the neAv discoveries, will be suf-. fioent to maintain the level of prices. - Favourable conditions have given us an abnormal share of the world’s supply of gold, but the scarcity of the yelloAv metal abroad is already leading to the export of gold, Avhile the increase in the issue- of bank notes is evidence that we are still short of money here. The Republicans defend the gold standard, not by logic, but by giving it credit for better times. When prosperity fails, the gold standard will lose its charm. * Back of all the questions which have been referred to lies the deep and lasting struggle between human rights and - inhuman greed. If greed triumphs, its victory will transform our government into a plutocracy and our civilisation into barbarism.