The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-09-21

italists Of Tennessee from monopolizing the
phosphate business. II will be necessary 10
direct the proposed bill with great accuracy,
and like the Kentucky hunter so aim IT as
10 hit IL IL be a deer and miss IL IL be a calf.
The remedy suggested by Implication In
the two speeches of the forenoon session
mat OF the repeal OF all tarin provisions
and through the free coinage OF silver
would. In my opinion. effectually break the
back OF every trust in the United States. 1t
would accomplish this much In the same
way that a fire In a wheat field temporarily
destroys Canada thistles. but / have learned
from observation that these pests will
spring up again as soon as conditions are
favorable TO the growth Of another crop of
wheat. / had hoped that this conference
would evolve some method Of effectively
dealing with the evil without resorting 10
prairie fire SO soon upon the heels OF the
last III a bin shall be formulated / shall
give IL most careful consideration and IL L
consider II feasible recommend its adoption
In m State"
Governor Daniel w. Jones. of Arkansas.
being called on, arose and in vigorous terms
scored Governor Shaw for his facetiousness.
saying this was no time and place for re-
marks not tending TO a furtherance of the
business before the conference. He then
made a speech against The monsters
termed trusts. he having felt their power
among his people. In his opinion the trusts
Governor Jones was followed by Attor-
ney General Edward C.. Crow, of Missouri.
who spoke TO the question from the view
point of a lawyer. He favored the enact
ing OF a law in every State. so that when
trusts are organized the equality of the law
shall prevail.
W. L. TAYLoR's ADDRESS.
w. L. Taylor. attorney general of Indiana,
followed. He said in part:
81 do not join in the sentiment that the
general government and the States cannot
control combinations of capital. Such a SEN
timent Is a reflection on the ability of the
American people for self-government. There
is abundant virtue in the people to elect
legislatures that will enact ample laws TO
regulate or destroy trusts. The American
judiciary can be relied upon TO faithfully
construe legislation along constitutional
lines.
we are here by invitation to devise such
laws and to ugges such legislation as Will
control or prevent the combinations of CAPT
tai to the detriment of the people and that
VIII preserve to the people the benefits OF
competition. We are not here to advocate
expansion or anti-expansion. protection or
free trade, the gold standard or the retir-
Is not on the decline. The prophets Of evil
are false prophets-they are yellow with
the political malaria of the swampS-they
need clear, inyigorating air of the noun
day. Never in the history of this country
has prosperity been so general or so gen.
erous. This has come not from trusts, but
capital, but In spite of such combinations.
II am against the trusts because trusts
fort and enterprise. The domestic corpora
ton Is coaxed or driven from the field OF
competition. All these evils can be and
Attorney Generals Nolan, Of Montana.
Oren, of Michigan. and Smith. of Texas.
closed the speechmaking for the afternoon.
PINGREE ON TRUSTS.
At the evening session Governor Hazen
s.. Pingree. of Michigan. delivered an adj
dress which was closely listened to and fire.
quently applauded. He said in part:
The Chicago trust conference was of
great VQ1ua hpCaugo In cQDarqre6 the Hhqff
from the wheat. 1t did much to clarity the
subject. 1t was Of educational value. But
revelations it gave us of the position which
the advocates of the trust or rather the
trusts themselves would take: The trust
Is a monstrous commercial deformity. 1t
overthrows all the laws Of political econ
omy by the crushing force of immense re-
sources. 1t has no conscience. In dealing
with the trust, therefore, let us face real
conditions. The evils Of the trust are many.
1t raises prices arbitrarily. The quality of
the product is poorer. Ii shuts up factories
and throws employees out OF employment
under the guise of economy. 1t drives the
small manufacturer and merchant out of
business. 1t compels the grower and produc-
er of raw material, the farmer, to sell at
its own arbitrary prices. 1t puts 'watered'
securities on the market and prices go up
and n WAGES go d Town IN order r to pay interest ion 81
treats man as an industrial slave and thus
saps the strength of our democracy and citi-
Zenship. 1t corrupts politics, legislatures,
municipal councils, public officers. the press
and even the courts. The remedy is what
we are now seeking. The Chicago trust con-
ference did much TO bring US nearer to a
| remedy. $50
| The only way to cure the evil Is to stamp
1t out effectively. A federal law will do II.
| IL Is a disease and the surgeons knife Is the
| only remedy. Prevent the monopoly and the
/ trust will die a natural death. Federal law,
II honestly framed, will do this. To my mind
the only question really before US is the
machinery of such a law. 1t should make
monopoly and excessive Capitalization Of
| capital impossible. Whether II should do
that by combining a corporation to one kind
of business or limiting the size of Its in
vestment. or otherwise. is one of the prob
lens TO be solved. There should be public
examination to prevent fraud: The expense
account should be open to inspection TO
discover the bribery fund. Inhuman meth
| eds of destroying competition. like those
used by the Oil Trust, by lowering prices
and raising them when the competitor is
forced out of business, should be made i'm
| possible. The further discussion, thought
and study Of the question / am satisfied will
| enable congressman, If they are honest and
| loyal TO the people. to frame a law to de-
stroy the trust. Our first duty, / think, is
| to direct all our energies towards making
such a law possible and to its
enactment"
At the close of Governor Pingree's remark
the committee on resolutions, which had
been in session during the evening, asked
for more time and the conference adjourned
until 2 o'clock tomorrow morning, when
the committee will be ready to report.