The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-09-17

. Louch, Augustine E Co. 3
3 SIS esS SIT First Ave.
ACKNOWLEDGEMENTS
sArcasticaily on the advantages sst forth
In the letter
person In the audience inquired:
Delaware and New Jersey are both
Democratic states. are they not?'
To which Mr. Bryan replied:
They were not In 1885,"
He continued:
II have read this letter In order to show
that where a state car seek IN advant-
are from the incorporation Of these az
gregations OF wealth Il II not safe TO
place the people Of other states at the
tender mercies OF the people OF such
state AZ may desire to secure Its running
expenses from the taxation Of corpora
tons organised to prey upon people out
side.
How 70 Annihtlate Trssts.
"One method for the annihilation Of
trusts has occurred TO me ana 70 me y
seems . complete method. II may not
commend itself 20 you. II 10 this: That
congress should pass law providing
that no corporation organized In any
state could do business outside OF the
state In which u In organized until q re-
ceives from some power created by con-
gress license authorizing II to do busi-
ness outside Of IL own state. (Applause)
Now II the corporation must come TO this
body created by congress 10 secure per-
mission TO do business outside the state.
then that license can b erantsd upon
condition which will Ia tho FIRST place
prevent the watering Of stock: In the sec
oud place prevent monopoly Ia any branch
Of business and third. provide for public
ity as to all Of the transactions and bus
mess Of the corporation.
Coastitstion sheuid De Amended.
"If II IL unconstitutional. and 80 de-
ciared by the supreme court. ] am In
favor Of an amendment 20 the constitu-
ton that Will give TO congress power TO
destroy every trust In the country. The
FIRST condition which suggested was
that NO water should be allowed in the
stock. / do not believe any state should
permit the organisation Of any corpora
ton with \ single drop OF water In the
stock Of that corporation. Why should
the corporation be permitted to put out
stock that represents no real value?
mo man can defend stock that does
not represent money invested and only In
the case Of monopoly can you secure
dividends upon stock that does not rep
resent money invested.
No stock shsulA Ne Watesea.
We had o case In Nebraska where we
tried to regulate railroad rates. and one
railroad In our state was capitalized and
bonded for more than I'VE times what II
would cost to duplicate the road. and yet
the judge held that In Axing rates we had
TO consider the watered stock as well m
the actual value OF that road. When the
A MA IN ha
Ion was rendered which was In substance
that In determining what was n reason
able rate We had 10 take into considcra-
ton 4 number Of things besides the pres
ent value Of that road measured by the
cost Of production. and you will find that
II the watering Of the stock II permitted
then the cry Of the innocent purchaser In
raised and you will be told that you must
protect the man who bought this stock
My Judgment n that no man can stand
In the position OF an innocent purchaser
who buys stock I'm q corporation II that
stock Is not represented by actual money
invested. because he can md out what
the stock stands for II he viii only inves-
tigate.
III this license II granted then the frst
condition can be that any corporation de-
string 10 do business outside OF tho state
II = organised In shall bring TO that board
or body proof that that stock 10 bona ndc,
and that there n no water in H. In my
Judgment when you take from monopoly
the power 20 ISSUE stock represented by no
money you Will 30 more than half the way
toward destroying monopoly IN the United
States.
Publicity Also Desirable.
You can provide fer publicity. ana that
annually or ~ other times the corporation
shall make returns OF 10 basines1 and
when you provide for publicity so that the
public shall know Just what there Ia In the
toward The destruction Of the principle
% monopoly.
M License for MoaopoIics.
As = third condition gigges, tha, this
license shall not 10 grained until the cor
porasicn shall show that I, has not had A
monopoly ana - no, attempting n monop.
oily OF any branch Of industry or any art
clio Of merchandise. ard TO provide that II
the hw 10 violated the license can lie re-
yoked
Now. ] may be mistaken. but 81 has
seemed 81 gre that this method OF deal.
ing Nth the trusts would serve an ssrec.
tive method. 10 not say there ansu bn
no private corporations. bat ~ay that "A
corporation. n created by law, q, 10 cr~a ted
for the public good ard IL should never he
TO the public good
MY contention Is tina. shsre f. a various
rrinc1p!s running through the varscus pol.
caes which We have been pursuing: ,hai
sr our taxst.ca We have h~~n Imposing
uron the great struggling nsss~ra tAs bur.
de1s OF the government. while We have
been voting the privileges 10 tho people
who will not pay thelr share OF the cx.
p-nses ~ the government.
Every unjust law 10 an tndirec, raeu,
81 larceny II Ne can securN a government
WHOSE 9suaaasieus are laid en- laws rx-
employing Ina doctrine n, equality Ssr5-y.
shs law ar. then under .bs, q gow~-rme-.
ans ~uch hws wealth - accumulated 10 A
point where l, becomes ssnweroas then
Ne can ris~; max question wssen ~ arrives
and | sn willing 10 trust the wssfss,n Of
scs.'eiy 30 meet every QUESTION sna. ar sns
ard remedy every WRONG
Relieves Qaestteas VIII Ne s~ssI~a
~ Rave salth that ,hess question, viii
- settled ara se,;isi Tlxa,. but want -
rrstes, AsslEsi rAss doctrine that tire t-ss,
- = nai'sTel ap'sr@~ta OF natnral lAps r.