WHY BRYAN WAS BEATEN

New Zealand Times, Volume LXXI, Issue 4295, 2 March 1901, Page 6 (Supplement)

WHY BRYAN WAS BEATEN

THE DEFEATED PRESIDENT EXPLAINS. Tlif must important article iu the ‘.Vorili American Review’’ for December is that in which Atr Bryan. explains why he lost the Presidential election. He says the Republicans cad 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 tiie temper shown in the election, 'dr Bryan gives an amusing instance. A distinguished member ot the Kepubiiear. party, when asked whether ho would vote the Democratic ticket, gave vent to his partiunship and said: "Xo; a thousand times no! I'd rather go to sea in a boat of stone, with ■■ails of iron, and oars of lead, the wrath of God for a gale, and hell for a port”’ \\ “ give Mr Bryan's version of the par* money placed in the great fight: -MONEY IN POLITICS.

The magnitude of tho fund which ear. be collected depends upon the interest ! which tho great corporations feel in tin* | result, and upon the imminence ot the j danger to the privileges which thev are enjoying. Prior to ISilti, the money element ot the country was'divided between the two leading parties; bat, even then, the Kepublicau party hud a considerable majority among the bankers, railroad mag-., , nates ami manufacturers. In 1356. the I Republican parly secured the support of : practically all oi those capitalists who . thrive through governmental favouritism, or in the absence oi necessary restraining legislation. The Republican campaign fund that year surpassed any fund employed in previous campaigns, but' the immense amount then employed would have : failed of its purpose but for the coercion . practised by money loaners and employers l oj labour. Since 1856, the consolidation of wealth has gone on with a rapidity never before known. The Billowing are a low of the large combinations which have been formed within the lasi lour years: The A uteri can Agricultural Chemical C 0.,, organised in 1899 has am authorised capital of 10,0(10,000 dollars, and controls iwenty-two of the largest fertilising concerns iu the country. The American Hide and Leather Co.. (>”- ga wised in 1899, has an authorised capital of 95,000,000 dollars, and controls about seventy-five par 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, and controls over eighty-five per cent, of the linseed oil properties of the United States. The American Sice! and Wire Co., organised in 18D9, has 90,000,000 dollars of sleek, and controls about eighty per cent, of the, nail ami wire products of the United States.

The American Thread Co., organised in 1833. has a (ui.ilal slock of 12,000,000 dollar.;, and consolidated fourteen large thread companies in Now York and. New England. The American Tin Plate Co., organised in 1898, has 5(),(!OO,C0O dollars of stock, and controls about ninety-five per cent, of tho tin plate output.

The Ameiican Window Glass Co., organised in 1830, has 17,000,000 dollars of stock, and controls about eighty-five per cent, of the output. The • American Writing Paper Co., organised in 1893, has 25,000,000 dollars of stock, and controls over seventy-five per cant, of the output. The Continental Tobacco Co., organised in 1838, has a capital stock of 100,0(50,000 dollars, and controls the leading plug tobacco factories of tho country. The Federal Steel Co., organised in, 1808, has an authorised capital of 200,000,000 dollars .and is o, consolidation of several railroad, steamship, and manufacturing com panics.

| The International Paper Co., organised , jin 1898, has an authorised capital of " ; 45,000,000 dollars, and controls eighty-five 'per cent, of the output of newspapers. The National Biscuit Co., organised in 1898, has a capital of 55,000,000 dollars, r. -and controls one hundred and sixteen n plants. - The National Salt Co., organised in 1839, _ has 13,000,000 (dollars capital, and con- . trols ninety-five per cent, of the output of r salt. r The National Tube 00., organised in . 1899, has a capital stock of 89,009,000 dol- ; Jars, and controls ninety per cent, of the j. output. , The Rubber Goods Manufacturing Co., .’ organised in 1899, has a capital stock of ■’j Twine Co., organised November 8, 1896 1 i (five days after the election), consolidated ■’ twenty-two large cordage mills, and fixed s tho capital stock at 12,000.000 dollars; the - Union Bag and Paper Co., organised in 1 1899, has a capital stock of 27,000.000 dol- : lars, and controls ninety per cent, of the s paper-bag business; the United States Envelope Co., organised in 1858, has a ' capital of 5,000,0ti0 dollars 1 , and controls , ninety per cent, of tho output- of coimncr- ■ rial envelopes; and tho United States Cast ■ Iron Pipe and Foundry Co., organised in a 1839, has an authorised capital of 30,000,000 e dollars, and controls the principal cast- ", iron, pipe factories. p All of these trusts, and many others, had ■ a pecuniary reason for supporting the Rp- ? publican ticket, for they have not only en- - joyed immunity during the present Ad's ministration, hut they had every reason 3 to expect further immunity in case of Reu publican success; while the Democratic .. platform, and the Democratic organisation ~ were outspoken in their condemnation of private monopolies, and the candidates were pledged to aggressive measures for - Die 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 . will amount to thirty-nine millions in i one year. If this estimate is correct, the t beef combine alone could afford to contribut© fifteen millions to the Republican campaign, fund, for this would he less ; than ten per cent, of tbs amount it could realise in lour years from the increase before mentioned. Such a campaign fund • would be sufficient for all legitimate j.urposes, and leave enough to purchase every . floating vote in the United States and to > colonise all the doubtful States. On the . day before the election of 1900, tho stock i ot 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 1859 it incorporated under the laws of New Jersey, and controls two- ■ thirds of the output of oil in tho United , States. This year its dividends will ag- ■ gregate about fifty per cent, on the capita) i stock. The Standard Oil Co. alone, by : contributing a small percentage of its profits, could so finance the Republican Com- . mit(:ee_ as to secure o. victory for that , party in any close election. I have mentioned two trusts, whose contributions might ho enormous. There are several others, any ono of which out of its nrofits could supply a campaign fund ten times larger than it would bo possible to raise I 1 from - the people, who are the vi>'tim = of I all the trusts. Can anyone doubt that I such conditions will result in increasing j injustice to the masses, and in fabulous fortunes for those who stand at the head of the monopolies? Is there any reraetk for the improper use of money in elections? Yes. there is a remedy, a statute making it a nenal offence for any officer of a. corporation to contribute corporation funds ;to a campaign fund. limitWv the amount that can Ire legally expended' by candidates or committees, and compelling the publication of (he names of contributors to campaign funds, together with the amounts I contributed- Such a law would help, and Ivet 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 ns sacred. The party in power is 'clearly committed to a colonial policy so ropug-

nant to our history, our traditions and our political maxims that there was no substantial effort made by Republican leaders to defend the party's position. Where a. defence was attempted the gist ot it was about as Itdlow.-; ■• \v e tiid rot wan; tho Philippine Islands; they came lo us by accident; but now that we have them, vie cannot honourably let them —i; besides, it looks as if it. were God’s work: and then, too, there is money in it."

Destiny, .Divinity toad Dollars: The destiny argument) is a. subterfuge. Bulwcr’s deccripiion of it is die best I have seen. In speaking of William of Hastings, who laid his sins at the, door of destiny, he says;

"'ll is Destiny!-’ phrase of the weak human heart ’ "It is Destiny:’ hark upokgc tor every error! The strong and 'muons admit no Destiny: tin earth guides Con science, in Heaven watches God. Ami Destiny is but the phantom we invoke to silence tho one, to dethrone the oilier I"

IS THE MONEY QUESTION SETTLED To consider this election as decisive of the money question, would be as absurd as to have regarded tho election of 1836 as decisive of the tariff question. It would be moiv leasonablo to regard the late clcttion as conclusive upon tine question of imperialism, or upo i the trust tjueslioij. be i!) el which were discussed more by our people lhan the money question. Hut, as a matter c; fact, an election is not necessarily conclusive upon any question. Tiie tariff question was prominent iu rha campaigns of 1878. :s?0. IBSI, 1888 and

lSi'2, and entered into the campaigns of 1836 and 1900, and yet no tariff reiormer believes tho tariff’ question settled. Prior to 1836, all parties declared in favour of bimetallism, although many of tiie le/idcrs in tho Democratic and Kepublicau parties favoured tho gold standard, in iB3O, ail pirtics were pledged ta biMetnllUm. but the line was drawn between independent and international bimetallism, while the last campaign involved other end more serious questions. If any person is db-p->s n d to believe that, (he campaign of VJW turned upon tho ivoncy question, let him w.-Ach Renublicani legislation, and he will see that the- party in power ; Dustmen ilm result as an endorsement of Republican policies upon severed oilier sulqects. The increased production, o” goid, has lessened tho strain upon gold., and has to same extent brought the relief which Democrats proposed to bring in a, larger measure by the res!oralirn of silver; but ihere is no asmniece wunlever th."t the. gold supply, even willi tho new discoveries, will be sul’Scent to maintain the level of prices. Favourable conditions have given us an

abnormal ‘-hare of the- world’s supply of geld, but the scarcity of the yellow metal abroad is already leading to the export of gold, while the increase' in tho issue of hank notes is evidence Hint wo are still short of money here. The. Republicans defend the gold standard, not by logic, but by giving it credit for belter limes. When, prosperity fails, the gold standard will lose its charm.

Back of tdl the epic-, lions which have been referred to lies the deep and lasting struggle between luuiui?! rights and inhume;; creed. If greed triumphs, its victory will transform our government into a plutocracy and our civilisation into barbarism.