The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-11

clClZenS q uIreCt voice IN regis aCOn.
PASSED UP PURPOSELY.
These ara the issues that we have tender, d,
and that we shall discuss. My opponent did
not deem one of them worthy Of the slightest
reference. My friends I believe that there
is more method, more policy than oversight
in this omission. The Republican party has
been in power for some forty years in this
state. During that time all of our great
corporations have been formed, railroad fran
chises granted booming privileges, street
car telegraph, telephone and all other fran
chises given away. Frequently in perpetu1ty
and without restriction. To get these, and to
get them in such form most profi able
to the promoters, it was always policy, and
sometimes, perhaps, necessary, for the pro-
motors to stand in with the party IN power
They have invariably done so, and do today.
Favors have been conferred and reciprocatsd
| between the party in power and these spe-
cial interests until their end and aim have
become almost one. 1t is hard to tell where
the one commences and the other ends. The
same is true of our public institutions. They
have been built during this period and have
in many Instances become part and parcel OF
the political machine Of this state. Under
these circumstances. to ask the party lead
er, for the time being, TO discuss questions
affecting the prerogatyes of these various
interests is asking great deal of frail hui
man nature.
AS an excuse for this omission to discuss
these questions, my opponent refers to the
phenomenal growth and development of our
state. He says that that speaks well for the
nld02HGfNeQt OF lis aUalfS by lQS pdFLN III
power. You might we'll refer to the phe-
nomera growth Of the city OF Minneapolis
evidence OF the good management of its
finances. He refers to the fusion Legislature
CT 1891 and charges it with excessive eXpendi-
ture. Perhaps the appropriations were larger
than they should have been, but if they were
why did not the Republ can governor veto
them? He was there for that very purpose.
SOME REPUBLICAN EXPENDITURES.
In the last legislative manual, page 554,
find the following statement of the receipts
and disbursements of the state treasury:
Receipts. Disbursements.
1891 ~ ... Sc O20 6G5 81 105, $50
1892 - ..... 5, 9106 62 4,107 ,207
1893 ....... $500. $751; 4,15S.407
1894 800. -. 7 2S6 344 5190,419
If the legislature OF 1891 profuse in its
expenditures the succeeding Republican ones
must have been profiigate. 1t Increased the
disbursements by over one and ore-cuarter
millions.
The legislature of 1891 is entitled to credit
for several things which have greatly bene-
fitted our people. 1t Lut the binding twine
plant in the state prison on its feet. That
act alone has saved the farmers OF this state
millions Of dollars. 1t broke the corcage
trust and reduced the price of that indispensi-
bic article to our farmers by one-haH This
year l am informed that the trust got in its
work again. The prison management sold
the entire output CT twine to dealers early in
the season. By the time the farmer needed 1t.
the price had been doubled ard the prison had
not a pound TO sell. l think that we have a
Manila interest at home that needs some al
tention.
The legislature Of 1891 also passed the rail
read legislation under which our su.'reme
court made the now famous decision in the
STEVENSON case. L will comment on that de-
cision later on. l venture to say, however,
that the effect Of that decision was more far
reaching and more conducive to the future
welfare of the state than any decision ever
promulgated by cur supreme court. II was
made possible by that fusion legislature.
The most fertile expedient by which unscru
pulous men have robbed the public through
- hnc hClT fhs faa nyxyr4
as ''watered stock" Now, do not wish to
be understood as inveghing against corpora-
lions such. 1 only condemn the abuses
that have crept in and which they have been
guilty Of A corporation IS sort OF fictitious
personality, created by the law. 1t is indiS-
pensibIe fer carrying on many of the opera
items of modern society. 1t enables men who
could not otherwise embark in business to
associate their savings with others, and thus
raise the requisite amount OF capital TO under
take enterprises which an individual could not
carry on.
POSSESSES MANS POWERS.
But this being which the law creates pos
sesses attributes ard powers not pos
sessed by 1t has brains without moral
responsibility. With such a combination,
you can look for greed and cunning, and We
find it too often. wicked man dies; cor
porations live on forever. To entrust such
beings with the most important function of
society, such transportation, biography,
etc. without surrounding them with proper
iiElitations ard restriction and making them
accountable to the state at any AMI al times
for their doings, seems little less than Grim
inal.
The shares of stock of a corporation and
the bonds it has issued ere supposed to rep
resent that much money paid into its treas
ury and expended for corporate purposes.
The stock and bonded Indebtedness of the
railroads in this state averages in excess of
$50 Geo per mile, and this Notwithstanding the
fact that they have received approximately
one-third of all our lands, besides -arge cash
donations. How much of this capitalization
represents money actually paid in TO che
can tell. The legislature never required the
railroads or any other corporations to make
or file any itemized statement of moneys
actually expended in the construction or
safe to say that fully one-half Of the ex-
listing capitalization is water" that is that
proportion of the outstanding shares does
not represent any actual capital paid in to
the corporation. Man, generally speaking, is
honest and just. The proposition that the
laborer is worthy of his hire has never been
contested by the American citizen. (Ap-
plause)
The American people are perfectly willing
to accord to capital a fair return for its
services But when corporation asks us 10
pay income on 81 when perhaps less than
81 was invested, we kick, and we have a
right to- Railroad managers. naturally am
ton dividend-paying according to its face
value, have imposed rates to produce thai
exorbftant and have deferred Industry aHd
the prosperity and development of many Sec
tons of the state in no small decree Strife
and sntagonism between the producers and
the railroads was the result. The railroads
were irdiscriminatey called robbers and
they in turn retorted by crying confisca ton
and anarchy. That the condition of affairs has
been and is unfortunate no candid citizen
viii deny.
PLAY IMPORTANT PARTS
The railroads play a part in production,
in commerce and in social life that is only
second in Importance to the soil itself In
fact. they are virtually partners in all our
business undertakings. 1t is no figure Of
speech to say that a railroad company is
in partn 3rShip with every farmer along the
line Of its road. 1t divides every bushe of
grain, every pound of beef; even the butter
and eggs, with the farmers Now is II
the earnings of this partnership should be
fairly divided? In the lcng run il is equally
important to the railroad. No element or
factor in society can permanently oppress
another without suffering injurious conse-
quences in return. 1t is almost equally essen
tial that a feeling of mutual interest and
good viii should exist between these mart
ners- partnership without confidence and
hearty cooperation is invariably a failure:
ard usually winds up In court.
Any suspicion of fraud, cCncealment or I'M
lar advantage by a member destroys his
confidence in the partnership. The conviction
on the part of cur people that their railroad
partners in business have not put in tbe
amount of capital for which they exact nrOGt
mas been and is the root of all this tro,tIo
And the worst feature of it was thai orr
state government has provided no means bv
Whlcn the truth in regard to the matter
could be ascertetued.
SUPREME COURT SETTLED 1T
But, fortunately our supreme court has
solved the dilemma So for a.. 49,,