The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1899-06-30
MORTON ON TRUSTS.
The Ex-Secretary of Agriculture's
Views on the Problem.
ER-CAPITALIZED CORPORATIONS,
Mr.. Morton Says They win Fail and Only
Creduious Investors VIII Be Harmed
Attorney Goddard OF Kansas, In
terested in the Conference.

Chicago, June &c. -Secretary Easley.
of the Civic federation of Chicago, I'M
der whose auspices conference will
be held in Chicago September Is to 49,
to consider trusts and combinations and
legislation for their control, has re-
ceived hundreds of letters from promi-
nent men all over the country accept
ing invitations TO be present at the
meetings Among those who have
signified their intention of attending
the conference in person, or who Will
be represented, are Cows. Pm
gree, of Michigan; Roosevelt of
New York; Stanley, of Kansas; Say
ers, of Texas; Mount, of Indiana;
Fancher, of North Dakota; Thomas, of
Colorado; Tanner, of Illinois; Me-
Laurin, of Mississippi; Mcmillan, of
Tennessee; Poynter, of Nebraska; At
,orney General GODDARD, of Kansas:
Commissioner of Labor Thomas +.
RiXey. of Missouri. In acknowledging
the receipt OF an invitation TO attend
ex-Secretary of Agriculture j. Sterling
Morton. OF Nebraska, says:
Trusts which arc oycr-e lpitIliz"d are born OF
the machinut.uus OF Sh now and Impractical
men. They will fail and no one harmed except
those whose crcdulity led them to invest IN
their securities. There is much apprehension
Us to incorporated capital IN the United states
Oratorical vngarists have endeavorcd 20 make
common people believe that interpretations are
not subject to economic laws of competi-
tiun and that the relation Of supply e
demand is not the sole regulator OF
values The fact however remains that
money invested in manutoctones or il
railroads belonging 20 iucOrpor ations IL ne
stronger, no better and no more exempt from
the operation Of commercial laws than th'
money which is owned hy individuals. Their,
need be- in my Judgment no apprehension as g
the trusts crushing ont all competition. win
the exception Of the oil trust and the sugar
trust failure amony trusts has been universal
The whisky trust, the tobacco trust and all th'
other trusts Of any Importance up 70 date eN'
cept those that have been formed very re
Gently have been complete failures. Thest
failures have come firstly. from oyer-capitaliza
ton and secondly from m.Smanacement In
teIirent competition can enter the field againS
any trust on earth except one which has
natural monopoly 10y this, mean one which
| Ike the Standard Oh company, owns the onl.
OF! producing lands In the country, and success
| fully Put It's products upon the market with Tn
| sympathy Of the consumer all on It's side. Is
this. ! mean that outside of the trusts co-part
| ncrships ana stock companies may b.
| formed with capital, energy ana aulltN
| successfully take the market against an
| and all trusts products except thoS
which are the result of natural monopoly
| What can be accomplished by Legislation @
| regulatory laws ! cannot see, nor do look Z
| such enactments for remedy of any evils tina
may grow out OF trusts. OF course II is fash
ionable, 1t is cpl lcmlc - denounce all larry
| apgregations Of capital MS trusts" This mani
I will at last exhaust itself and the country Wi
| find that those who have been damaged b
trusts were those who bought their securitie
| for more than they were worth.
In accepting the invitation to attend
a. A. GODDARD, attorney general of Kan
sas, writes
! fee. that this matter is one that deeply in
! terestS the people Of the United States and. fu
| some reason, interests AS more ana fierentl
! from what IL does those living in the easter
portions Of the United States II is my intcu
tion 10 attend your gathering In the capacity {
! a listener hopins 90 derive much iuiormatio
| and substantial benefit from the proceedings.
Hundreds of other letters have bee
received, the writer's in nearly ever
case expressing sympathy with tn
purposes of the conference.