Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1896-12-09
TRUSTS AND MONOPOLIES.
Congress Urged to Pass Rigid Pros
hibitory Legislation.

Another topic in which our people right
fully take a deep interest may be here
briefly considered
I refer to the existence of trusts and
other huge aggregations Of capital, the OBJ
ject of which is to secure the monopoly
of some particular branch of trade, indus
try or commerce and so stife wholesome
competition. When these are defended 1t
is usually on the ground that, though they
increase profits, they also reduce prices to
the people. This is not one Of the real
objects OF these organizations, nor is their
tendency necessarily in that direction. IL
it occurs in particular case, it is only be-
cause it accords with the purpose or inter-
est of those managing the scheme.
Such occasional results fall far short OF
coInpensating for the palpable evils charged
to the account of trusts and monopolies-
Their tendency is to crush out individual
independence and to hinder or prevent the
free use Of human faculties and the full
DEVELOPMENT of human character. Through
them the farmer, the artisan and the
small trader is in danger of dislodgement
from the proud position Of being his own
MASTER watchful of all that touches his
country's prosperity, in which he has an
individual lot, and interested in all that
affects the advantages CT business of which
he is factor, to be relegated to the level
of mere appurtenance to a great ma
chine with little free will, with no duty
tie hope or opportunity Of rising in the
scale of responsible and helpful citizen
ship.
To the instructive belief that such is the
inevitable trend of trusts and monopolies
is due the widespread and deep seated
popular aversion in which they are held
and the not unreasonable insistance that,
whatever may be their incidental economic
advantages, their great effect upon per-
sonal character, prospects, and usefulness
cannot be otherwise than injurious.
Previous Laws Were Inadequate.
Though Congress has attempted to deal
with this matter by legislation, the laws
passed for that purpose thus far have
proved ineffective, not because of any lack
of disposition attempt to enforce them,
but simply because the laws themselves as
interpreted by the courts dc not reach the
difficulty If the insuficiencies Of existing
laws can be remedied by further legisla-
ton, it should be done. 1t should be recog-
nized however, that all federal legislation
on this subject may fall short OF it's pur-
pose because of inherent obstacles and
also because of the complex char
acter of our governmental system,
which, while making the federal authority
supreme within it's sphere, has carefully
limited that sphere by methods and bounds
which cannot be transgressed. The dec1-
sion CT our highest court on this precise
question renders 1t quite QOuDLIut whether
the evils of trusts and monopolies can be
adequately treated through federal action
unless they seek directly and purposely to
include il their objects transportation or
intercourse between states or between the
United States and foreign countries.
1t does not follow, however, that this Is
the limit of the remedy that may be ap-
piled. Even though it may be found that
federal authority is not broad enough to
fully reach the case, there can be no doubt
of the power of the several states to act
effectively in the premises, and there
should be no reason to doubt their willing
ness to judiciously exercise such power.
The Presidents Farewell
In concluding this communication, it's
last words shall be an appeal to the Con-
gress for the most rigid economy in the
expenditure Of the money it holds in trust
for the people. The way to perplexing ex-
travagance is easy, but a return to fru-
gality is difficult. When, however, it is
considered that those who bear the bur-
den of taxation have no guaranty of hon.
est care, save in the fidelity of their pub
lie servants, the duty of all possible re-
trenchment is plainly manifest.
When our differences are forgotten and
our contests Of political opinion are no
longer remembered, nothing in the retro
spect of our public service will be as for
tunate and comforting as the recollection
of official duty we'll performed and the
memory of constant devotion to the in
terests of our confding fellow countrymen.
GROVER CLEVELAND.
Executive Mansion, Dec. Z, 1896.