The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-09-16

in9y two-thirds of the states. at the ear
ticle Of the federal constitution.
While the trusts might be reached by
single amendment to the constitution,
1 doubt very much whether anything
could be gained by such patchwork, since
the constitution contains many other pro-
visions that would constitute bar in
effecting enforcement of the interstate
for securing a single amendment is If
anything more cumbersome and rat1flca-
ton thereof more difficult to push than
would be a complete revision of the or
game law of the land =
MIR. COCHRAN TALKS.
The chairman then introduced Hon. w.
Bour<e Cochran, of New York, who
said:
''Mr. Chairman, Ladies and Gentuemen:
There is no person who could have listen
ed to the papers which have been read
from this platform during the last three
days and doubt for moment th&t the
object of this gathering was an honest
search for truth. (ApplauSe.(
Il think the country is to be congratu-
lated upon some of the papers which
were contributed to this discussion. no
tably those that came from the represen-
from the national grange (Applause.J
Indeed as l listen to the conceptions of
economic law which mark every address
delivered by representatives of organized
labor. l become convinced that the Ia
borerS who spoke to us understood these
laws much better than their employers
indeed, l believe that some recent events
in our history would have been Impossible
if both sides of these labor controversies
understood the economic laws governing
the relation of producers to consumers
as well as one side showed that 1t un-
derstoOd them this very day.
Now l believe, ladies and gentlemen.
that the pursuit of truth is not a hope
less. or even difficult task. [ am one
onT19-
blage of men honestly endeavoring to dis
cover the truth she always appears-not
necessarily toward the adoption Of tho
suggestion of any one-more often
gestions. Somehow or other always she
emerges-and, when she disclOSes herself
her excellence is SO transcendent that
all recognize her. acknowledge her and
proclaim her.
Now. the precise question which we
have been called to consider is the eff
feet on the general prosperity of the COM
munity of combinations, whether of cap
ital or of labor. One Of the great diff
culties in a philosophical inquiry is the
use of vague, sonorous and misleading
phrases. which raise clouds of passionate
defamation about the difficulty or the
problem. obscuring its outlines and even
magnifying it's dimensions. There have
been certain words which have figured as
much in the controversies that have aris-
en- over this question that | find great
difficulty in discussing the facts which
confront us on account of certain words
which excite US. daughter and ap-
plause)
'I shall endeavor, for the purpose of
esta bliShing an intelligent basis of dis
cussion, to be somewhat free from these
terms over which men have become NOV
ed to passionate declamation; l shall de-
fine prosperity as an abundance of COM
modities. fairly distributed among those
who produce them.
SOME COMBINATIONS.
"Now. this is not a statement of true
conditions. separate and distince, but
rather a statement of two aspects of one
difference. For, my friends, hope 10
establish before [ get through that there
cannot be abundant production of com
modities without an extensive diStribu-
ton of them in the form of wages in a.
country wherein prosperity is based upon
distribution is not as effective and COM
plete as we might wish, we can defer con-
sideration of that question for a moment
and we can all agree that there cannot
be any distribution if there is not pro-
ductiOn. and that there cannot be an eX-
tensive distribution unless there is an
abundant production. We must have
commodities to distribute before we can
distribute them in the form of wages or
of profits. If this definition of prosperity
be correct, it is perfectly plain that there
is no reason why a sensible man should
grow excited. either to the approval or
resentment, at a combination merely as
such. A combination may be good or
bad, according to its effect. For instance.
combination for prayer is a church. All
good men would subscribe to the success
of it; Naughter) A combination for
burglary is a conspiracy. All good men
would call out the police to prevent +.
La;ughter2 aug os Any Industrial system
production should be commended; any
thing that operates to restrict it should
be suppressed
of capital, or these combinations of labor
operate to raise prices or to reduce them.
is subject about which there has been
a wide diversity of opfnion-not merely
in this hall, but wherever economic ques-
tiOns have been discussed. Some contend
that the tendency of these combinations
Of capital IS to cheaper the product.
Others say that it is to raise the price
of product. Now, while l am fully con-
scious that the moement of prices de-
pends upon many FORMS or, rather, per-
haps, [ should say upon every force upon
the bounty of the earth, upon the sun
that quickens the crop, upon the rain that
refresheS it,upon the rivers that wash the
soil in which it is embedded and fructi-
flying, as We'll as upon the industry Of
man, yet 1 venture to say that neither
side Of this controversy is wholly right
or wholly wrong. There are some COM
binations which operate to reduce prices,
and some which operate to depreciate
them. Now, if 1 accept either / should
offend again that other offender of which
1 complain. 1t will be idle to say that
some improve, that some raise prices,
and some depreciate them, If we did not
prescribe some test by which we could
distinguish between the two. .
TEST OF TRUSTS.
"Now, ladies and gentlemen. I think if
IS simple one, perfectly clear The test
is to ascertain whether the combinat tion
Of capital fiourishes through government
aid, or without it, for. my. friends, you
which dominates the market without aid
from the government must do so through
cheapen1ng the product or, as it is COM
monty called, by underselline competitors
An Industry which at one and the same
time reduces prices and swells it's own
profits, must accomplish that result bv
increasing the volume of it's production
(applausel. On the other hand an in
dustry which dominates the market by
the favor Of government, direct or indi-
rect, cannot in the nature of things, be
forced to cheaper prices because it could
dominate the market by underselling COM
petitors in an open field without favor
it would not need the government favor
(applause). The interference of the gov
ernment would be an injury and not a
benefit 70 it. An industry, or q combi-
nation of capital or anything you may
choose to Gail it, that dominates a market
through q restricted competition that de-
lyers the consumer to 1t on its own
terms, necessarily depends upon a mar
row output and large profits extorted not
from the eXcellency of its service, but
from the helplessness of those with whom
it deals. (Applause)
Now there are three ways in which
the government interferes in the trade
of individuals in this country-one is BY
patent laws. 1t is my purpose ladies and
gentlemen, tonight TO try and emphasize
the points on which we can agree, and
II possible by some suggestions to extend
the scope and field of our agreement, but
waste no time upon questions which can
not DOSSlDlS be settled hV this pOnfarnnoa
and on which this conference can have
Httie effect Therefore I will not waste
time in discussing patent laws. The other
means by which the government inter
feres is by tariff.
EFFECT OF TARIFF.