The times. [volume] (Richmond, Va.) 1890-1903, 1899-09-14

get any further. because there are so many
H. his class.
THE worst feature Of the industrial
( trusts Of to-day is that nearly every one
=, OF them Is vastly over-capitalized. The
/ promoter comes along with his idea. lie
finds one or two concerns making a legiti-
( mate profit. while half dozen others are
/ practically bankrupt and making no
money Invariably the concern that has
! been most unfortunate Is the most anxi0ug
/ % get into the trust. These unthrifty
concerns are able 20 get along in times
OF great prosperity. but when we get
/ down 10 normal conditions these concerns
Will go 20 pieces no matter whether theS
are I'm trust or not. Just at present there
| Is a demand for every conceivable thing,
and times are elastic and money Is plenty
Everything is floating along prosperous
ly when the collapse comes, as come 1t
viii. 10 will sweep all these naturally
non-paying concerns 10 financial ruin. or
course. the theory on which the trust is
built is It's ability 10 raise prices, but
that is sure 20 result I'm trouble.
"Take steel rails. for instance. One and
a half years ago rails of fair quality were
being sold at Si7 a ton at profit Of per-
haps $50 q ton What was the conse-
quence? We sent rails AN over the world
invading Great Britain. Chan. Japan and
other countries with the enormous de-
posits of hlsh-grlde ore On Minnesota and
Wisconsin. there IS no reason why we
should not Doe able 20 produce rails ana
other steel products cheaper than any
other nation. AS a result of trust manIpu-
iation steel rails now sell at $50 ton. or
thcrc1bouts. or course. the profit is ezor-
bitaut Do is an outrage ON the public,
and 10 is sh0rtsightelncs on the part of
tine manufacturers because they cannot
sell their rails long outside 0f the country
40 such an enormous profit The result OF
30 an win De- q tremendos collapse and lt
VIII come good deal quicker than most
pn0no think When the tumble comes 80
win be general n only The promoters
suffered if would De am right but The
crash win carry pretty much everything
with BE-. and the innocent VIII suffer wan
the guilty.
"TaIc the Flour TRUST ] am personally
Interested n TWO milling companies we
uere making not aree money. bu- dong
uer and e.ttiUe a. fair return ON our in-
~. tnc.t Th other mills were no, dong
s0 wen. owing CD O. lack 0l capital. A.ons
came tnl- uu Mcintyre a. Sew York.
with h's TRUST pr1rO- uon We didn't eo
.t. Dr.. Dut the others did. The trust s
ra.i.r nu0ruoHs salaries and spen. ing
moneys 1.ti fy There is certain to b.
c0 use before long. 10 cannot lat .Wo
I..r THE security holders VIII tnen Dr.
tne rClI sufferers. as tn. promoters VIII
le safely oGt br that Time Those COM
Germs that have not paid anything in ten
ysar. aud have gone into tne trust WIN
aI enormous capital VIII NOT be able Oh
stand up when The pinch comes
"I.er. ls one thing that greatly dis
ur me The Republican party whether
lue or urius.Ir is associated with
trusts iu tae minds of the ma g.. AS
party He hlve reached "a crisis where we
have .uf tl call halt. The Republican
party has got Co disc0unect it h from
trusts 4, has got tO Go some hing m pc
than adopt platform p.anks against
trusts ~ has got % put forth IT'S full
Nr.u-h ana legls.1te against them. The
feeling against the trust idea is intens in
TIE Nes. DO is 20 intense in the kepub-
joan party that the party VIII break
ranks unless something ia done The uu-
dorow OF sentiment in The Western Re-
publican States against trusts is not ~
d.rslord in doe Ea-- Ihe revolt may
STIR. us a. early as next year.
'It seems to me. after giving .ho matter
90 lr.at deal ot Thought trl- ODE kDpuN.i-
cans .u Congress VIII have ro eAamiu, doe
suIf.ct thoroughly and whenever they ui
% rls. is depending for is eNorbitnt
profits largely 900 protective duties 30 Wu
ha OBJ. duty of r. publican Congressman
anI Senator'S tl c1ove tle duties at once
N- cannot stop hort off tnat The duties
must he repealed when it is shown N-tt
the trusts arc bauefung by them. Ias
ou.d De dIla With the duty Oh tee. rails
and ON fiuuaie. We cam make 7' eI rails
al O fair profit cheaper than anywhere
f.sa .n the World and the pres nt price
J. u.