Show VIEWS OF OTHER EDITORS ON TOPICS OF THE TIMES Senator Burrows's Explanation Senator Burrows's hurried denial that the C Cuban ban question Uon had anything to do with the defeat for tor tion of ot four tour Republican Congressmen from Michigan an Is not a 3 wholly dIsinterested disinterested disinterested act If It it ft should appear that the Republicans of ot Michigan condemned con con- Representatives cs H H. C C. Smith Weeks Sheldon and Alpin for tor fighting lighting the Administrations Administration's policy It must follow that Senator Burrows was losIng losing losing los los- ing his hold nt at home Therefore it It affords him the greatest satisfaction i ito to assure the countr country from Washington 1 that the sugar question was waa not discussed dis- dis cu cussed ed In th tho so o four Michigan dis It may be fairi fairly assumed then that If It these four unfortunate Congressmen from Michigan an were not hurt by their fight light against reciprocity with Cuba the they were not helped b by It White While Congress was WA In session the Michigan delegation atlon declared red vociferously vociferously vociferously that the great sugar beet Industry Industry industry Indus Indus- try of or their State would be ruined If Ifa ifa a a. 20 O 0 per cent concession were made In favor of Imports from Cuba Later the they had an emphatic resolution of ot In Indorsement Indorsement In- In adopted at the Detroit convention convention convention con con- for their particular benefit and their appeals for tor were based on their fidelity to the beet After Arter all aU this to-do to Senator Burrows will viiI have It that not a a. whisper r was heard about r reciprocity while these four tour discredited can candidates were campaigning cam cam- for votes If It that Is true the people of ot Michigan are far tar less les Infatuated Infatuated with the beet than their Congressmen Congressmen Con Con- gressmen have represented Indeed It might b be Inferred interred from front what Sen Senator tor Burrows says ys that they are arc entirely apathetic In the matter Nevertheless Senator Burrows avers a the four RepUblicans Republicans Republicans Re Re- publicans who defeated Representatives tives tIC Smith Weeks Alpin and Sheldon for hold the same views on Cuban reciprocity as their defeated opponents It Is well to have this Understood understood understood un un- in Michigan The Republicans Republican cans can of the State who believe that the President should bo sustained In his Cuban policy will probably find It expedient expedient ex ex- ex- ex to vote ote for Democrats If It they cannot cannot trust the candidates of or their own party part Philadelphia North Amer Amer- ican lean What Is Meant by Worth Mr AIr Schwab of the big steel trust asserts asserts asserts as as- that tho the plants of the concern exclusive of good g will patents trademarks trademarks trademarks trade trade- marks and s processes es are actually worth more more mor than the tho entire capital stock and bonded debt of the corporation corporation corporation corpora corpora- tion which hl h amount to the stupendous total 1 of ot 50 But Eu t Just what Is meant b by worth Their Theil pre present nt earning earnIng earning earn earn- ing capacity In a n. time of ot the highest prosperity I indicates tea an immediate market value for Cor or th the th plant equaling equating that figure But pre present ent earning capacity capacity capacity ca ca- ca- ca d does 8 not futuro or average l earning capacity and the market market market mar mar- ket estimate of oC this average t earning ca capacity capacity cn- cn as reflected In tho the quoted prices of the company's compans stock Is 18 less than one half that of Mr Ir Schwab And Unless unless unless un un- less It H lq true that the ste steel l trust has hns hasa a virtual monopoly of oC iron on ore lands and can thus charge what prices It cares to for Cor Iron and steel the market estimate will prove to be bo closer to the truth than Mr For It Is lr safe to assert that the plants plant of pf t the trust can be he duplicated for less than one one- half halt possibly a third of f the sum total of oC its capitalization And In the absence ab ab- sence senco of an ore monopoly that cost of oC duplication will in the end determine the worth orth of the trusts trust's plant or its average earning capacity for of or course the trust cannot go JO on pa paying from 5 to 6 G per cent on a a. capital Issue of ot derived from plants which any body of capital can duplicate for a third or half halt of ot that th sum Springfield Republican I Cuba Not Wanted Cuba Is not wanted in this Union because because be be- cause her entry would woul Increase Intensify ally and complicate the race problem which Is already serious enough h to absorb absorb absorb ab ab- ab- ab our best attention In a a. dozen ex existing ex- ex States It Is the gravest problem we have have- to solve We e do not want to add another State which would bo be convulsed convulsed con con- with the same problem In Cuba the race problem Is comparatively light and easy of oC solution Arbitrarily transferred transferred trans trans- to the United States It would be Immeasurably heavier and harder On that ground for their own sake the Cubans should avoid annexation New ew New NewYork York Tribune |