The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1898-01-08

throughout the clLle5 or Uhe United
States, dealing. in corporate stocks,
grains, live stock and various other
things, and contend that they are es-
sential, IL not Indispensable, to the
commerce and business interests Of
the country. and that to grant the
prayer of this bill would be the death
blow of these institutions. Courts can
not shut their eyes to the results Of
their judicial conclusions, but how far
such results should control those CON
illusions depends on several conditions
not necessary to discuss here, nor
would it be proper to consider here
what effect this act of congress might
have on these organizations or any OF
them.
Il may be permitted to say, how
ever, that the methods and aims of
many Of these exchanges and boards
of trade are not altogether beneficial
to the business and commerce of the
country. That they are beneficial to
the members and perhaps to the To-
cality may be admitted. 1t must also
be admitted that properly conducted
agency or medium. through which the
vendor and yendee might readily sell
and buy everything that enters into
commerce or trade is demanded by the
business interests of the whole coun-
try; but this agency should not be
permitted to tamper with or in any
way restrain the natural flow Of the
stream of industry or commerce.
"The crying complaint of today and
the great menace to the welfare Of the
people is the tendency of wealth to
monopolize and control the industries
OF the country, and 1t must be con-
fessed by every thoughtful observer
that many of the so-called stock and
produce exchanges are among the most
potent instrumentalities for the ac-
complishment Of these purposes by
spectators and adventures.
Men who add nothing to the pro-
ductive wealth of the country grow
rich or poor by gambling on the
wealth produced by others. Men daily
are selling through these exchanges
millions Of bushels of corn, wheat and
other products, who neither have nor
expect to have a bushel, and others
are buying millions who never expect
to receive a busheI. Both sides are
tampering with the normal prices fixed
by the law of supply and demand and
attempting by false and dishonest
means and methods to serve their
ends. The courts have uniformly con-
demned this class of business as lille
gal, though it is under the ban Of the
law, still flourishes The remedy must
be looked for in legislation, and not
in the courts alone.
cit is indisputable that all the live
| stock shipped to these defendants for
sales from other states than Kansas or
Missouri, after it had entered the cur
| rent Of commerce between the states,
| continues and remains a part of such
| commerce until the transportation is
terminated and the property becomes
a part Of the general property Of the
state.
1t is also well settled that while this
| property is the subject of interstate
commerce, no state, municipality or
ether power but congress can impose
| taxes, restrictions or regulations for
the protection of the health, morals
and person of the citizen, and except
for proper charges and regulations for
the use of the local instruments as
aids or incidents to such commerce.
The decision caused a great deal OF
excitement at the stock yards. Just
what effect the decision will have on
the methods Of business at the yards
in the future is a matter of conjecture
Some members of the exchange say
the dissolution of the exchange will be
a severe blow to the live stock inter-
ests If the decision stands the test in
the higher courts. ~