The Caucasian. (Clinton, N.C.) 188?-1913, 1892-03-10

REV. Mr.. DIXON SPEAKS OF IT m
Ills INTRODUCTION.

HumAaity nisise rrwsxasr neaa..
the carrest Sis~ sf rss.i p~srasa,,.
Christians Do S~s Held sasA View.
Ther~oa ~ Alleged by gshsrs Ingwrasi.
SEw Yogx. March s.--Mr. Dixon rrc-
ceaed his sermon In Association kali this
morning by q review of the recent CON-
bination Of the anthracite coal kings o..
Pennsylvania. He said:
The most gigantic railroad deal In the
history Of the world has just been con-
summated IN Wall street The anth.a-
cite coal output Of America l. controlled
by Ave railroads. Four of these roads
have entered into a comhination-fhe
Reading. Lehish Valley. Jersey Central,
and Delawa. y, Lsckawanna and West
ern. The combination represents total
of real and watcred stock 10 the snor.
NOUS amount Of $500. .0oo, 900. Il Is de-
clared that the earnings Of this trust
VIII be over 500. .oo0, 200 annually. We
do not doubt IL
WALL. STREET MASIAcs.
The scene on the Stock exchange when
the announcement Of this deal was
made bcggars description. Men plunged
and shrieked and jumped and yelled like
maniacs. Millions hung in the balance
of n moment. II was a day never TO be
forgotten even on the floor of this daily
pandemonium.
1t was enough to move men to mad
ness and transform a market into a hell
OF greed and speculative lust. These
stocks, in spite of the burden of tons of
water, leaped upward some 5000. 600
within few ticks Of the clock. Visions
Of imperial splendor flashed before the
surging crowd of genteel gamblers. Nor
was there any decline in prices. Fabu-
lous fortunes We're made in an hour. Ii
was an hour that should interest pro-
foundly the whole nation. Those who
have best reason to know declare that it
means an advance of fifty cents ton on
the price of coal.
10000. 900, ALL PROFIT.
This means that the masses of the peo-
pie will be robbed Of sec, ,000, 900 more
annually in tax on their fresides to
furnish the sinews of war for our Napo-
Icons of finance as they walk from throne
to throne and dream of new worlds
to conquer. Yes, for all this inflated
stock, for all these fictitious values, for
an these enormous profits, somebody
must pay-for the men who have done
this trading have scarcely crooked their
little fingers. From certain quarters
there rises the cry about trusts, monopo-
lies, combinations and conspiracies
against competitive trade. The power
of law is invoked to break up the con-
spiracy!
NONE OF YOUR BUSINESS.
But why all this noise? What has the
law to do with such a combinations
Such deal is perfectly legitimate
climax to our system of commercial
war. The inevitable end of all compe-
tition is combination. Combination is
the only possible fruit of such system.
At present our railroads are owned and
run by private capital. Have not two
roads the same right to combine under
one management as ono road to combine
capital in the beginning? Certainly.
What business is it to you or me if the
owners of these roads enter into part
nership? The roads belong to their
stockholders. They invested their
money for gain. They did not buil1 or
buy those roads for philanthropic pur-
poses. They went into it to make money
for themselves. They did not invest for
the purpose of furnishing fuel to poor
people who are cold. You allow them
to own these public highways. They
will charge you just what they please
for carrying your coal. If they feel like
it they will raise the price of coal fifty
cents q ton. The Engines, tracks, cars,
belong to the managers. They viii ad-
vance the price d dollar ton if they
feel inclined! 1t is none of your busi-
ness. If you do not like it you can
whistle. If you don't want to buy coal,
let 1t alone. You can burn wood, oil,
gas, electricity.
THE REMEDY.
Yes, there is remedy. Just one. All
other remedies only play with the prob
lem and pile up wrath against tl.e day
of wrath. The time has come when the
government must assume control of the
peoples highways and run them in the
interests of the people.
HIGHWAYS AND HiGHwAYMEy.
Streets and public roads were the
highways of past centuries. The rail-
road is tho highway of modern times
The king owned the old highway. Tho
king must own the new highway or the
new highwaymen viii own the king.
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