Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-09-18

becomes destructive of their best IN
terests they can destroy that corpora
ton. and we can safely trust them both
to create and annihilate If conditions
make humiliation necessary.
In the second place, the state has,
or should have. the right to prohibit
any foreign corporation from doing
business in the state. and it has, or
ought to have, the right to impose
such restrictions and limitations as the
people of the state may think necessary
upon any foreign corporation doing
business in the state.
Il believe, in addition to a state
remedy, there must be a general
remedy. Congress has, or should
have, the right to place such restric-
tons and limitations, even to the point
of prohibition, upon any corporation
organized in one state that wants 10
do business outside of the state con-
trary to public good.
Il believe that these concurrent reni-
remedies will reach the difficulty;
that the people of every state sii'i'
first decide whether they want to ere
ate a corporation; that they snail
ondly. decide whether they want any
outside corporation to do business ~
the state, and, if so, upon WHAT CUM"
tons: and. thirdly. that Congress siiaii
exercise the right to place upon eNei
CORPORATION doing business ou'sI"e VI
the state in which it is orgahiZeu suci'
limitations and restrictions as may DE
! necessary for the protection OF the
| public good"
| Col Rrvan at this point read the Ia
-, l,.a
nous circular letter advertising the
| incornoration laws of Delaware. He
commented sarcastically on adNan-
tages set forth in the letter.
nerson in the audience inquired:
tableware and New Jersey are both
| Democratic states are they not? To
which Mr.. Bryan replied: They We're
not in 1896.
He continued: II have read this let
| fer in order to show you that where
state can gain advantage from the in
CORPORATION of these great aggregations
of wealth, it is not safe to place the
people of other states at the tender
| merces of the people of such state
as may desire to secure its running
expenses from the taxation of corpora
| lions organized to prey upon people
outside.
II am ready to adopt any method for
the humiliation of trusts. One that |
suggest is this: That Congress should
pass law providing that no corpora
ton organized in any state should do
business outside of the state in which
il is organized until it receives from
some authorizing power created by
Congress. license authorizing it to do
business outside its own state.
Now, if the corporation must come
to this body created by Congress to
secure permission to DO business out
side the state, then that license can
be granted upon condition which will
i'm the first place prevent the water
| ing of stock: In the second place. pre-
vent monopoly in any branch of bust
| ness: and. third, provide for publicity
as to all transactions and business Of
| the corporation.
IF this is unconstitutional ana 50 dc
| clared by the supreme court am IN
| favor of an amendment to the constitu-
| ton that will give the Congress power -
| destroy every trust in the country. In
| my judgment. when you take from
monopoly the power TO issue watere !
| stock yau will 70 more than half wa
| toward destroying monopoly in the
| United States.
| annually, or at such other times as th-
| corporation shall make returns of its
business and its earnings and go another
| long step toward the destruction OF the
| principle of monopoly.
But am not willing to stop there. and
therefore. as a third condition. | suggest
| that no license be granted until the cor
| Ooration shows that il has not had i
| monopoly and is not attempting monop
| oily of any branch of industry or any arti
Gle Of merchandise. and then provide ina
| if the law is violated the license can De
| revoked.
| 81 do not believe in the government Civ
| ing privileges to be exercised by cor
poration without reservng the right to
| Withdraw them when those privileges be
| come hurtful to the people.
| nv contention has been that We have
been placing the dollar above the man;
| that We have been picking out favorites
| in governments we have been beStowinS
upon thin special privileges. and every
advantage we have given them has been
| given them to the detrlment OF other
| people.
| MY contention is that there is vicious
| principle running through the various
| policies which we have been pursuing
that in our taxation we have been impos
ing upon the great struggling masses the
| burdens of government, while We nave
been voting the privileges to the people
who will not pay their share of the ex
| penscs uf the government.
| Every unjust law is an Indirect form
| If larceny. I'm income tax would rcmedg
another great evil.
| Il have TO fear that any man by his
own brain or his own muscle will be able
| To secure fortune so great as to be a
| menace to the welfare Of his fellow men
| When God made man he placed limit
| 20 his existence. 50 that if he was a bad
man he could not do harm long, but whel
| we made man Che corporation we raise,
the limit on his age We did not give
him a soul. and il he can avoid punish
ment in this world he need not worry
| about the hereafter.
| 81 want to protest against this doctrine
! that the trust is natural outgrowth u
natural laws. 1t is not true. The tru'
| is the natural outgrowth of Immature
: conditions created by man made laws.
Government under the four great prin
ciples of the Declaration of independents,
is impossible under an industrial arts
tOcracY.
, Some people have tried to separate th
, laborinS man who works in the factor.
l from the laboring man who works on thu
farm. | want to warn the laboring mel
in the factories that they cannot Separat'
themselves from those who work on thu
, farm without inviting their own dcsruc
| dion.
Il warn the laboring men in the fac
; tories that when they join with tn
monOpolies to crush the farmer. soOl
s as the farmer is crushed the laboring ma,
with be crushed. and his aIy Will be de