Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-17


than We do in our opinion Of the trust.
Few people will defend the trust as a
principle. As to the remedy. both State
and nation should have concurrent reme-
dies
"ln the first place, every state has or
should have the right 10 create any pri-
vate corporation which is conducive to
the welfare of the people of that State. 1
believe that we can safely eutrust TO the
people Of a State the settlement of
question which concerns them. If they
create corporation. and it becomes de-
structive Of their best interests, they can
destroy that corporation. and we can
safely trust them both TO create and to
annihilate. if conditions make annihila-
ton necessary.
"In the second place, the State has or
should have the right TO prohibit any for
eign corporation from doing business in
the State, and il ought TO have or has
the right TO impose such restrictions and
limitations as the people Of the State
may think necessary, upon any foreign
corporation doing business I'm the State.
! believe i'm an adoption Of a State REM
edy but there must also be a Federal
remedy
Congress has. or should have the
power 10 place such restrictions and limi-
tations. even 10 the point of prohibition.
upon any corporation organized i'm one
state that wants to do business outside
of the state. contrary to the public good.
CONCURRENT REMEDIES.
Il believe that these concurrent rene
dies will reach the dificulty-to wit that
the people of every State shall first decide
whether they want TO create a corpora
ton; that they shall secondly. decide
whether they want any outside corpora
tions 10 do business in the State, and If
so, upon what conditions; and. thirdly,
that Congress shall exercise the right 10
place upon every corporation doing bust
ness outside of the State in which it is
organized such limitations and restric-
tions as may be necessary for the pro-
lection Of the public good
Colonel Bryan at this point, read the
famous circular-letter advertising the in
corporation laws of Delaware. He COM
mented sarcastcally on the adydn-
taPes set forth in the letter.
A person i'm the audience inquired: "Del-
aware and New Jersey are both
Democratic states. are they not?" to
which Mr.. Bryan replied: They were
not in 1896"
He continued: Il have read this let
ter in order 10 show you that where a
State can get any advantage from the
Incorporation of these great aggrega-
lions of wealth. it is not safe to place the
people of other States at the tender
mercies of the peop'e OF such State
as may desire TO secure its running cX-
penses from the taxation of corporations
organized TO prey upon people outside.
TO ANNIHILATE TRUSTS.
Il ag ready to adopt any method for
the humiliation of trusts One that l
suggest is this:
THAT Congress should pass law pro-
viding that no corporation organized in
any State should do business outside of
the State i'm which it is organized until II
receives from some power created by con-
gress license authorizing il to do bust
ness outside of it's own State. Now, If
the corporation must come to this body,
created by Congress, 10 secure permission
TO do business outside the state, then
that license can be granted upon condi-
tions which will, in the first place. pre-
vent the watering Of stock; in the second
place. prevent monopoly in any branch
of business. and third, provide for pub
licity as to all Of the transactions and
business of the corporation.
IF this is unconstitutional, and IS so
declared by the Supreme Court, 1 am IN
favor of an amendment to the Consitu-
ton that will give 10 Congress the power
to destroy every trust in the country.
In my judgment when you take from
monopoly the power 10 issue Watered
stock YOU will go more than halfway to-
ward destroying monopoly in the United
States.
you can provide for publicity, and that
annually or at other stated inter-
walls the corporation shall make returns
OF its business or its earnings, and this
h.r ri no
destruction of the principle Of monopoly.
But / am not willing 20 stop there,
and therefore, as a third condition, l
suggest that no license shall be granted
until the corporation shows that 1t has
not had monopoly, and is not attempt
ing q monopoly. of any branch Of in
dustry or in any article of merchandise,
and then provide that if the law is vio-
lated the license can be revoked. / do
not believe in the governments giving
privileges. 10 be exercised by a corpora
ton, without reserving the right to with
draw them when those privileges become
hurtful to the people.
DOLLAR ABOVE THE MAN.
MY contention has ben that we have
been placing the dollar above the man;
that we have been picking out favorites
IN government: that we have been be
slowing upon them special privileges, and
that every advantage we have given
them has been given them 10 the de-
triment Of other people. Ny contention
is that there is a vicious principle run
ming through the various policies which
we have been pursuing; that in our taxa
ton we have been imposing upon the
great, struggling masses the burdens OF
government, while We have been voting
the privileges 10 the people who do not
pay their share OF expenses TO the gov
ernmont."
Every unjust tax law Is an indirect
form of larceny. the speaker asserted.
An income tax. he believed, would rem
edy another great evil
II have no fear that any man by his
own brain or his own muscle will be able
10 secure fortune 50 great as TO be
menace to the welfare of his felloWmen'
OUR "MAN-MADE MAN"
"When God made man He placed
limit 10 his existence so that If he was
a had man he could not do harm long
but when we made our man-made man,
tbe corporation, we raised the limit OF
his axe. =,
1--WE ala not give him soul, and II
he can avoid punishment In this world
ne need not worry about the hereafter.
81 want to protest against this doc
trine that a trust is "A natural outgrowih
OF natural laws. II is not true. The
trust Is the natural outgr0wth OF I'M
natural conditions, created ny man-made
laws.
Government. under the four great
az Il