The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1883-01-25
enough Of it to keep his children warm
even during one Of Gen. Hazen's mild
winters
MONOPOLISTS INJECTING MONOPO.
LISTS.
Out Of Their Own Mouths Are They Con-
dcinnesl.

Out Of Their Own Mouths Are They Con-
dciMnesl.
from the chicago Newr.l
Strange it is that nearly all the great
capitalists who have testified before the
New York Legislative committee on the
subject Of corners denounce corners in
every other description Of property save
that in which they individually deal.
They thus mutually indict each other.
The single exception was uncle"
Rufus Hatch. In his serio-comic vein,
lie gave the true inwardness of the
business. He said Of one OF his trans
actions: II didn't want the corn to
use, and those bought Of didn't have
it to SELL
Now, Keene, in his testimony, SAYS
this is precisely the "bucket-shop"
system I'm which there is no pretense
to deliver that which is solo," and
which, he adds, lis simply an act OF
gambling, with no element Of business
in it."
On the subject of stock-watering,
"Uncle' Rufus naively said: II am OPP
posed to it unless I am in it myself. !"
On the same subject Mr.. Keene is EN-
phatically denunciative; but Mr.. Keene
thinks corners in grain are beneficial to
the world in general; that speculation
is the greatest benefit to the people Of
this country; that corners do not affect
the public nor affect transportation nor
fereign trade. But Mr.. Keene neglects
to account for the fact that hundreds of
ships lie idle for months in New York
during the existence of his wheat cor
ners, and that, while admitting that the
people who were in his corner lost by
it, he takes no account of the losses to
the general public on the vast quantity
of grain which remained unsold in the
country for so long a period, and was
finally sold ut loss both at home and
abroad, while the consumers are suffer-
ing on account of the unnaturally high
prices.
Mr.. Vanderbilt, Mr.. Gould, Mr..
Sage, Mr.. Mills and other giant rail-
road spectators, on the other hand,
while denouncing grain corners, which
Mr.. Keene and men of his stripe de-
light in, are manipulating railway Sc
cnrities at will. They openly say that
while Mr.. keene and his pals are buy
ing that which they do not want to use,
and which the sellers have not got, they
and their pals are doing perfectly le-
gitimate business. To this Mr.. Keene
and his gang" reply that 1.-THE only
damage done, because of gigantic corn
and wheat deals, is caused by the rail-
road pool practically cornering the
rates of freight"
If there is q glimmer of truth in POI
litical economy, and if we are to believe
the indictments Of these parties, one
against the other, it is morally certain
that corners in grain and corners in
stocks are injurious to the public-in
fact, that they often rise to the proper
tons Of public calamities. Anything
which hinders the free movement of the
exchanges between producers and the
consumers is injurious to both tt
might rs well be said that the exactions
upon trade by the robber Barons in the
feudal times, and those upon internal
commerce by prohibitory tariffs, we're
not injurious to the people, as to say
that monopolies which enable two or
three men to control millions Of
property in their own individual inter-
est are not injurious to them.