The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1899-06-15

". LA IAts
states are under obligations to them.
If the plant of these industries con-
solidated was capable of being put on
wheels and moved from state to state,
you would find very active bidding for
them. 1t is not an unusual thing for
certain localities to guarantee free
taxation for 20 years, free water, and
in some instances give the land to co.,
porations to have them organize under
their statutes and locate In their
states.
Hostility to capital meets with its
own condemnation. This Is illustrated
by the situation in New York, where a
discrimination against capital has pre-
vented its employment and driven 1t
elsewhere, resulting in a greatly i'll
creased tax rate, and tendency to
increase the number of the unem-
ployed.
customs tariff bill. 1t says to the
people: Here Is the law we have
enacted for your robbery. Do not COM
plain of it, but do your utmost to at
tack and injure the machinery en-
gagged in extracting from you what we
legislate shall be taken from you.
Keep up the clatter while the voters on
the tariff bill take advantage Of the
noise to enact laws that cause your
impoverishment and thus contribute
to the greed and avarice Of the few"
There is prevailing hostility to
wealth. This is perfectly illogical
Every one wants money. 1t is the
abuse Of money, not its possession,
which is opposed to public interest.
This hostility finds its outlet in hos
tile legislation, in unequal and unjust
taxation. All this is probably uncon-
stltutional. 1t Is directly against the
interest of the very class, the poorer
class, whom 1t is supposed to benefit.
Corporations, whether directly such
or in the form of trusts, are an ex-
pedient for uniting the interests of
large number of persons of smaller
means into large aggregation of cap
ital. Attack upon them is therefore,
an attack upon their stockholders. In
the case of many well conducted cor
porations lnese stockholders are very
numerous and are often persons Of
moderate means. dependent upon their
income for their support.
In the absence of all disturbing
causes, the direct tendency of com
bination of capital is to promote
economy, reduce expenses and diminish
price.
After listening to Mr.. Havemeyer's
statement the next three hours were
devoted to answering questions asked
him in rapid succession by members Of
the commission. He at first declined
TO state whether the company was
making money at present, saying that
was the business of the company alone
but he afterwards made an incidental
statement which the commission con-
strued into an admission that the bust
hess was not profitable now.
The witness confessed that his COM
pany had very little regard for the
welfare Of rivals In business, saying
that prestige. ability, experience and
wealth would win In the long run In
the struggle and that trusts were an
example of the survival Of the fittest
in business. THAT Is trade he said.
"and the sooner you realize it and
quit trying to control it by federal
legislation the better for all. A man
cannot expect to have himself contin-
ually wet-nursed by the government
If men do not want to buy our stocks
they need not. They do not need gov
ernment protection. If they wade in
and get stuck let them get out, and II
they wish wade in again. The fate Of