Omaha daily bee., 1899-11-24

WRESTLING WITH THE TRUST PROBLEM
The National Grange. which claims to
| speak for the farmers of the United
States, has formulated It's conclusions
| as to the measures demanded for the
| regulation and control of trusts. These
recommendation are tersely set forth
\ as follows:
! l. Official inspection OF all corpora
/ tions as in the case of national banks.
/ No corporation should he tolerated
| whose books cannot bear inspection.
?. Prohibition of all rcbutcs or dis
| elimination by public carriers.
3. Taxation of all capital stock.
4. All capital stock should be paid up
in full. ..
.. Severe penalties for violation of
law.
1t VIII be noted that these measures
were substantially embodied in the rec
concentrations made by the antitrust
convention held at Chicago five years
ago and reiterated by the editor of The
Bee before the trust conference held in
Chicago in September, which read as
follows:
l. The creation by act of congress OF a
bureau of supervision and control of cor
porations engaged in interstate commerce
with powers for It's chief similar to those
exercised by the comptroller of the cur
rency over national banks.
2. Legislation to enforce such publicity as
viii effectually prevent dishonest methods
OF accounting and restrict traffic and COM
petition within legitimate bounds.
3. The abrogation OF all patents and copy
rights held by trusts whenever the fact is
established before a judicial tribunal THAI
any branch OF industry has been monopo-
lized by the holders of such patents or COPY
rights.
4. The enactment by congress OF a law
that will compel every corporation engaged
In Interstate commerce to operate under
national charter that shall be abrogated
whenever such corporation violates its pro-
vision.
5. The creation of an interstate commerce
court with exclusive jurisdiction in all cases
arising out of the violation of interstate
commerce laws
6. The revision of the constitution of the
United States by constitutional convention
to be called by two-thirds of the States at
the earliest possible date, as provided by
article of the federal constitution, which
reads as follows: 'The congress, whenever
two-thirds of the states shall deem 1t neces-
sary, shall propose amendments to this con-
stttution. or On the application of the leg
isatures of two-t thirds OF the several states
shall call a convention for proposing amend
ments which in each case shall be valid to
all intents and purposes, or part of this con-
stitution when ratified by the legislatures of
three -fourths Of the several states or by
conventions in three-fourths thereof as the
one or the other mode Of ratification may be
proposed by the congress"
These recommendations are much
more comprehensive than those adopted
by the grange. They contemplate ma
tional legislation that would if enforced
make the trusts harmless. The propo-
sition that all rebates and discrimina-
tion by public carriers shall be prohib-
tied is already on the federal and state
statute books. The only difficulty is to
get honest and fearless courts and Off
GERS to enforce it.
The proposition to tax all corporations
is Duerile unless it is designed to i'm |
pose special or prohibitive taxes on cor
porations engaged in interstate COM
merce that have combined to prevent |
competition and raise prices. The prop
erty of all corporations Is subject to |
taxation in every state, and the only |
drawback is unequal assessment |
whereby corporations evade their due
share of the tax burden.
The proposition that the capital stock
of every corporation should be paid up
in full would inevitably follow national
and enforcement Of honest
honest accounting and
publicity.
The grange has, however, failed to
touch the core of the whole trust prob
lem, namely: The uselessness of anti
trust legislation that is almost sure to
be declared in conflict with some pro-
vision of the federal constitution. For
this reason the only safe and speedy
remedy will be found in the revision of
the constitution to conform to existing
conditions. Until that is done there is
very little hope of, relief from the
abuses incidental to the trust system.