The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-09-13
Chambersburg, Sept. ~.

! Chambersburg, sept. H.
IN EFORE the Pennsylvania Millers'
NJ State association, in session
m here, Hon. John Stewart, presi.
~ dent Judge of the Franklin
county courts, tonight delivered
an address upon Trusts, and the Pub
lie Welfare" lie said:
The rapid growth and development Of
this new system of business which for
convenience we designate as the trust sys-
TEN, is one of the marvellous things Of
this marvellous era. We had scarcely
known of its existence, until 1t had i'm
pressed itself upon the leading industries
of the country. For several years, which
may be called the period of its infancy, 1t
was confined to the oil industry as the
single subject of it's operations, first the
petroleum, and then the cotton seed oil
interests. Then, with n pTehensle force
unparalleled, and which Is only one OF its
many curious and wonderful Characters
tics, 1t suddenly reached out from its oily
environment and caught i'm its embrace
the sugar industry, then the whiskey,
then the leather, then the iron and steel
in their various specialties; and with ap-
parcntly increasing Strength. and widen
ing embrace. ii has continued its advance
until it dominates our industrial life. OF
all the articles of trade or commerce, mono
stand clear of it except those which the
earth Yields to huSbandry; and not all of
these have escaped its grasp. There is
rot Il product of mans toll or material
thing that ministers to his wants, that
seems beyond its reach. Already it has
its trade mark on the cradle in which his
infancy is rocked and on the coffin, in
which he takes his final sleep. There
are today in this country certainly not
less than 500 Incorporated trusts, each
g
and it is a conservative estimate that
there are as many other combinations in
trade, not incorporated, which are gov
eIned by the same methods, having the
same ends in view. The combined capi-
tal of those Incorporated exceeds six
thousand million dollars. Allowing to
those not incorporated but half this sum,
we have an aggregate capital, subjected
10 this system, three fold greater than
tbe entire national debt at the conclusion
of our great civil war.
When we consider that all this has
come about within a decade, and indeed
= for the greater part of ii, within the
last two years, We can understand how
business conditions must have been pre-
pared for it. but the public mind sur
nIised and unprcparod And when we con-
slider, further, that the natural and nee
esSary consequences resulting from such
q Sudden and comprehensive change in
our economic system are not and cannot
b. at once discOvcrable, We can under
stand that the work of correction, if re-
1lired, OF rCadjuStmCnt and adaptation,
If these are to follow, will require pro-
lungcd study and enlarged experience,
lnasmuCh as COnside ratiOns Of public wei
faro must determine whether this new
system shall continue. and If continued
what its limitations shall be; and since in
the end these questions are to be decided
nv the people, 1t becomes uS each and
all as citizens. alike interested that nc
harm shall come tC our political institu-
tions and that no obstacle shall retarG
the advance OF our Civiization, to do al
We can to gain an intelligent understand
ing of this most important subject.