The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-05-26

1
arena of the Coliseum was filled with
long tables tastefully decorated with
roses, lilies of the valley and carna-
| tions. The table of honor was placed
on raised platform at the north side
| of the arena, and at it were seated Hon.
! w. J. Bryan, Ex-Governor John P. Alt
geld, o. HI. p. Belmont, M. c. Wet
| more Harry B. Hawes, president of the
Jefferson club, under whose auspices the
Hon. David A. DeArmond and num-
ber of other prominent democrats. The
Coliseum was decorated throughout
with flags and in the center of these
was fixed a large silver shield. The
dinner was concluded at o'clock. No
speeches were made during the banquet.
1t was strictly love feast. By the
time the tables were cleared the five
thousand seats of the amphitheater
We're filled with spectators representing
the society of st. Louis, and the speak
ing began. The first speaker of the
evening was Harry B. Halves, president
of the Jefferson club, who delivered the
address of welcome Mr.. Halves said in
part:
1T is not sought or desired to push
to the background the vital issues of
1885, nor to lessen in any particular the
fight to be made upon the greatest OF
all trusts, the money trust, which,
greater than all, is more dangerous than
all. The battle line must be drawn
sharp and clear with democracy on one
hand and the trust and nionopolies on
the other"
Mr., Bryan when introduced was given
an ovation. Mr.. Bryan spoke in part
as follows: An actor who visited Neb-
raska recently, upon learning from a.
republican that confidence had been re-
stored, remarked that he had examined
Webster's dictionary to learn what
confidence" meant and found that 1t
defined it as trust" and he then un-
derstood that confidence had been really
restored More trusts have been formed
during the last two years than existed
at the beginning of the present admin
istration, and the nominal capitalization
of the trusts now in existence approach
es. it it does not equal, in amount the
worlds total supply Of gold and silver
The influence of these trusts has be-
come so enormous that the people, with
out respect to party, are asking them
selves how the evil can be remedied.
The purpose of the trust Is to control
the product of some article of merchan-
disc and the methods employed are,
first. the union of all individual facto-
ries under one management or In an
incorporation and, second, the crusnlng
out of new rivals. A monopoly when
once complete not only dictates terms
to those who buy the product, but 1t
also dictates terms to those who sell
the raw material and to those who
furnish the labor If the trusts are
permitted to continue we shall find an
industrial aristocracy growing up in
the United States which will prove as
destructive of our ideals as landed aris- |
tocracy would. The principle of mo-
nopoly is incompatible with our insti-
tutions. Where there is competition
between producers the purchaser is
sure to obtain what he wants at rea-
price When competition is |
eliminated, the price is controlled not |
by reason but by the greed of the one |
VINO DOSS6SS6S Tile IilOlOpOIy. IL lidS
been said that the power to tax is the |
power to destroy. A monopoly pos
sesses the power to tax. 1t can levy |
such assessments as it will upon the
purchaser and we can no more afford
to permit such power to be exercised |
by private individuals than we could |
afford to authorize private individual
to use the machinery of taxation In or
der to enrich himself at the expense of
his fellows:
Just now people are startled by the
of monopoly as it manifests it.
self in the industrial trust, and well may
they be startled. The principle, how
ever, is the same as that which mani
tests itself in the effort of the national
banks to secure a monopoly of the issue
Of paper money. The greenback is
rival of the bank note and it's presence
Is a constant menace to the banks of is
sue. Some who recognize the evils that
flow from soap trust, seem Indifferent
to the dangers that attend the forma-
ton of paper money trust. The prin-
,iple of monopoly not only lies at the
of the attempt to destroy
he greenbacks, but it is the controlling
llldl uHutIlleS lHG CIuSdue
against silver as standard money. Be-
ween 1850 and 1860. when the produc-
ion of gold was increasing and the pro-
luction of silver was small, three ma
ions demonetized gold and gave to sill
yer a monopoly of mint privileges. Ear
y in the seventies the financiers became
alarmed at the increase in the produc-
ion of silver and conspired to destroy
ilver as a standard money and give
to gold, the production of
which at that time was stationary. The
standard money trust is not only the
,arent trust, but Is in the hands of for
gners. {
The republican party is impotent to .
lestroy the trusts. 1t is controlled by
hose who are interested in trusts and .
is funds and sinews of war were sup | !
'lied by the trusts. The policies for '
which it now stands disregard the in
erests of the producers of wealth and
ave to money consideration which Is
enied to the individual. Abraham a
lincoln in the very beginning of his
residential career warned the country .
gainst the threatened attempt to put I
apital above labor in the structure of C
he government. Modern republicanism S
5 fulfilling the prediction made by Lin V
oln, it is putting the dollar above the Il
IAN. The democratic party is opposed a
, tho ,,ri,ninIo IF rr,OnOnOIy Wherpuar If | q