The midland journal. (Rising Sun, Md.) 1885-1947, 1894-11-02
LIVE ISSUES.
JUDGE TRUMBULL'S ADDRESS.

the Way for the People
MILLIONAIRES AT DEATH MUST
SHARE WITH THE sTATE-FED-
ERAL COURTS MUST BE
CURBED-FREE COIN
AGE AT 16 TO i.
Following is the greater portion
of the grand address delivered by
Judge Lyman Trumbull, exUnited
States Senator of Illinois, at a PeO-
ple's party meeting in Central
music hall, Chicago, Saturday eve
ming, Oct g.
CONTINUED FROM LAST WEEK.
If the accumulation of vast fortunes goes on
another generation with the same accelerated
rapidity as during the present the wealth of this
country will soon be consolidated in the hands of
of few corporation and individuals to great an
extent as the landed interests of Great Britain
now.
What is the remedy for this state of things,
which, if permitted to continue, will make the
masses of the people dependent upon the gener-
osity of the few for the means to live. So far as
concerns corporations of a public or a quasi
public character, and none others should exist,
the remedy is simple. They are completely under
the control of the legislatures. whence they
derive all their powers.
1t is entirely competent for legislature to pro-
vide the manner in which the business of a cor
poration shall be conducted. 1t may provide that
the directors shall consist of few many persons
that portion of them shall be taken from the
employees of the corporation, selected by them,
another part from the stockholders who furnish
the capital for carrying on its bushes. 1t may
provide that the employees shall first be paid from
the revenues of the company certain fixed sum-;
graduated according to the character of the work
performed by each; that fair rate of interest
shall then be paid upon the capital invested, and
the balance be distributed upon some equitable
principle between the employees and the stock
holders. In case of loss the stockholders would
have to suffer, since the employee having the
right to live must in all cases receive his daily
wages when dependent upon them for subsistence
This principle receives judicial sanction folm
United States Circuit Judge CALDWELL in recent
order entered in case of the Santa Fe railroad as
follows:
"Ordered that the men employed by the receiv-
ers in the operation of the road and the conduct
of its business shall be paid their monthly wages
not later than the 18th of the month following
their accrual. If the earnings of the road are
not sufficient to pay the wages of the men as
herein directed the receivers are hereby authoriz
ed and required to borrow from time to time as
occasion may require, sufficient sum of money
for that purpose. The obligations of the receivers
for money borrowed for this purpose specified in
this order shall constitute len on the property
of the trust prior and superior to all iehs thereon
| Under the powers inherent in every sovereignty
government may regulate the conduct of its citi-
| zens toward each other, and, when necessary for
the public good the manner in which each shall
use his own property.
IN LEGISLATURE Is THE POWER.
| do not undertake to specify all the provisions
which it would be necessary to incorporate in a
charter to secure to labor its just reward. All l
attempt is to indicate the power which the legis-
lature has in creating and controlling corpor-
atons.
Formerly corporations having special privileges
were created by special acts, which the courts
construed to be contracts between the granting
power. This granting of charters to favored
individuals not possessed by the general public.
became obnoxious to public sentiment, and as a
consequence general laws have been passed in
this and many other States under which any three
persons may become incorporated for any private
purpose. This has become worse evil than the
old system of granting special charters. Under
the general law enacted in this State twenty years
ago am informed 27 600 corporations have been
created.
Business ofall sorts is now to a great extent
carried on in the name of corporations, in order
that the proprietors may escape personal respon-
sibility. How can the individual who is person
ably responsible for his contracts, successfully
compete with a corporation run by peroons who
incur so much responsibility? Doing business a
corporate name not only paralyzes individual
effort, but leads to concentration of capitalize
great evil of our time. The remedy for this grow
ing state of things would be to restrict the forma
ton of corporations to such are formed for pub
lie purposes, such as the public has an interest
in. Seyenty-eight per cent of the great fortunes
of the United States are said to be derived from
permanent monopoly privileges which ough
never to hUve been granted.
SHOULD LIMIT THE POWER OF DEVISE.
As before stated, the power to dispose of prop
erty after death by will is conferred by statute
under certain limitations. Why should this priv
ilege be given to dispose of more than fixet
amount of property to any one individual, say
property to the value of not over S5OOOOO to thu
wife, of not more than 500 900 to each child, O
not more than $4,000 to any other relative
extending to the third fourth degrees, anC
that the balance of the estate should escheat t
the State, to be used by it for the support o
schools, charitable institutions, the employment
by laborers in making roads, and other gooC
purposes.
The law now provides for the escheat of estate
of persons dying without heirs. The same limita
tion might be put upon inhertances where Their
is no will, and in this way the accumulation o
vast estates which by nature belong to all, woul,
be more equally distributed 1t should not b.
! forgotten that the method of transmitting prom
erty from the dead to the living entirely derive,
from the State. Ifpublic policy requires that tn
State should give to the dying possessor no longe
able to control or take with him his possession
the privilege of disposing offs much as may b
conducive to the comfort and happiness of hi
surviving Kindred, does it require that this priv
ilege should be extended to his disposition q
millions to the injury of the rest of mankind.
1t is said that to limit the privilege of disposin
of exceeding s1,OOO0OO of property of devise @
8 descent would check enterprise and industry, a
!, no man would struggle to acquire property whic
, he could not leave to his surviving kindred m
: reply is that man by his own thrift and industr
: is seldom able to acquire more than 81 10000
$ worth of property. Fortunes exceeding tina
! amount are usually acquired by speculation
J. trickery, or some device by which one man take
g advantage of his fellowman and which, if nc
: illegal, are immoral or by members of privilege