The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1899-04-25
4 REPUBLICAN ON TRUSTS.
TRUsTs-THE BVILS FROM THIN
AND THR EASY REMEDY.

z. Independent.
A very brief statement concerning
trusts will exhibit the facts, the ques
ton and the remedy; and also show
who will apply the remedy.
The facts are that today all over the
United States enormous combinations
Of capitalists are planning by huge
consultations to SEIZE every branch of
production and distribution; all manu-
features and the sale thereof; all agri
cultural products and the sale thereof
are to be monopolizsd and managed by
great corporations; each separate in
dustry in the country JIG to be controlled
by one Incorporated trust. In the be
ginning, to lull the public into inactton,
the price of the product to the con
sumner ia to be reduced. but not to the
full extent required by the cheaper
production secured by the new sys
tenn; therefore, millionaire owners in
trusts are to increase in number, and
when the system becomes general the
prlces to the consumers are to be raised
and the great fortunes are to continue
to multiply.
The question is whether such trusts
should be prohibited and destroyed. It
should be answered in the affirmative,
for two reasons; the first one already
stated, that as an ultimate result the
consuming public, after competition is
effectually abolished, will be compelled
to pay larger prices than ever before
in order to build up enormous fortunes
in the hands Of the millionaire class;
and second, because the expulsion
from business of small manufacturers,
producers and merchants will be highly
Injurious to society. The destruction
of individual enterprise and the divis
ion Of mankind into two classes, the
few very rich and the many very poor,
with almost no men Of moderate cap
ital-frms of small means, as Mr.. De
pew calls them-will, if the system
continues, be fatal to popular govern.
ment and result in a government by
oligarchy. This will not happen, but
only because the system will be dc,
stroyed. II the community is to be
divided into Ten.dollarites and One
dollarites, the latter will rule, for they
are the vast majority It is a perilous
issue to raise. The remedy for the
growth of trusts will be simple and
easy when a majority of the people OF
any State seriously and firmly desire
to suppress them. Trusts conducted by
partnerships will not be formidable.
Individuals will neve place in n
partnership dangerous aggroesions OF
capital. Huge trusts can only be main.
tanned by corporations which can
make large issues of stocks and bonds,
IL a State legislature can destroy all
corporations within the limits Of the
State, q fOrtiOri, it can regulate and
limit the amount Of stocks and bonds
which any corporation can issue, and
can prevent it from engaging in more
than one Kind of business. After regu-
lating and limiting it's own corpora
tions it can exclude from the State the
operations Of all corporations Of other
States which do not conform to the
local State re requirements.
Combinations between separate o
porations in the same business can also
easily be prevented by State laws; and
thus the prohibition of combination,
consolidation and immense Issues of
stocks and bonds being accomplished,
the evils resulting from trusts are gone.
There can never be a simpler applica
tion of the m kim, Where there is a
will there is a way"
As each State a effectually sup
press trusts within its borders Con
g%ressional action is not Indispensable.
Yet Congress, in addition, can do much
to destroy trusts by legislation in con.
nection with interstate commerce.
The act of 1890 did destroy the Joint
Traffic Association, in which 81 rail
roads had joined to make the most
gigantic trust ever known, with two
and one halt billions Of actual capital
and practical control of eleven billions
of capital. Congress should also pre-.
vent trusts in the Territories and the
District of Columbia by laws similar
to those which the States will enact
Moreover, the States should tax all
corporations on their stocks and bonds,
and Congress should do the same. The
taxing power should not be used to de-
stroy corporations, but when their
capital and business and profits are
large they should pay large taxes for
the support of the State and National
Governments. We are to have large