Wadsworth semi-weekly dispatch. [volume] (Wadsworth, Nev.) 1899-1904, 1899-10-21
EVILS CAN BE REACHED.

Why cannOt this power be used with
reference to the modern trust, and in a
most efficient way? Through it two
evils can be reached. One, the mon
opoly Of production by ur ions OF capital,
and the other, the escape OF organized
wealth under present conditions, from
the burthens OF federal taxation. The
latter is one of the crying evils of the
times. The whole tendency of federal
legislation has been to exempt accumu-
lated wealth. The wealth Of the coun.
try has been for years rapidly drifting
into corporations.
Stocks in corporations represent, more
than any other class of property, the
surplus wealth of the country, for the
man who has a share OF stock has some
thing which he has accumulated over
and above his current wants and ex-
penditures, and the best method OF
reaching the surplus wealth of the
country is to tax corporations.
AtbuOuBu IcotI iCtCU ny biio luCOuDC bhA
decision the field of federal taxation is
still a large one, for it embraces all the
transactions of business and though the
real and personal property of a corpora
tion and the income :therefrom cannot
be directly reached, yet every trans
action in which such corporations en-
gage may be made the subject OF tax
alton by federal government and the
taxes imposed may be classified in such
a way as to restrain unions OF capital in
their monopolistic tendencies.
LEGITIMATE SPHERE IF CORPORATIONS.
The ordinary producer, having but
one factor, cannot afford to get into a
controversy with his employees, for that
would involve an absolute cessation of
the work of his enterprise. A corpora
ton owing to a dozen factories can east
ly operate eleven whilst it is engaged in
bringing the operatives of the twelfth to
its terms, and thus, step by step, can
bring about a reduction of wages
throughout all of its twelve factor
les. SO, also, having destroyed compe-
%tition, it ear raise the price OF it's pro-
ducts and thus increase the profits OF
capital both by diminished wages OF it's
employees and increased prices charged
to its
1t can also destroy all competition by
selling its products below cost within
the territory OF competitive operation, re-
tanning its prices in the field OF its mon
opoly, and thus, without loss in the ag-
gregate, yield to a localized loss which
will destroy all competitive enterprises.
Thus the individual stands no chance
agains. the corporation and individual
ism is practically destroyed.
TAx ACCUMULATED WEALTH.
The purpose then of federal legislation
upon this subject would be to reach &C.
cumulated wealth and at the same time
protect individualism. Taxes, therefor,
imposed upon the transactions of cor
p%oraiions will accomplish both purposes.
They will reach accumulated wealth and
they will protect individualism, for the
individual, freed from the handicap Of
such taxes, may be able to hold his own,
and thus the handicap of the tax pre-
serves the equilibrium between indi-
vidual enterprises on the one hand and
corporate enterprises on the other.
TIME FOR DECISIVE ACTION.
The powers OF the federal government
relating to taxation and Interstate COM
n,erce in connection with published re-
ports should be ample to meet every
difficulty. No time shonld be wasted in
academic discussion as to the precise
evils that may result from unions OF cap