The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-09-15

pTS AllldUCc anu luuuGJlldl OUlOD,
The last speaker of the Afternoon was
Major Benjamin II. Tucker, of New
York, editor Of an Anarchistic paper.
He gave his view of trusts from the
standpoint of the Anarchist. The sneak
ers with one accord, overstepped the
twenty minutes allowed each speech. At
the close an opportunity for discussion
was afforded, but a motion to adjourn
was overwhelmingly favored and car
ried.
President Corliss, of New York.
presided at the evening session and in
troduced Governor Pingree, of Michigan.
whose speech was enthusiastically re-
ceived.
Ex-Governor Foster. of Ohio, was the
next speaker. He said:
"Denounce trusts as we may. They
have come to stay. Why? Because the
gigantic business operations of the pres
emit and future cannot be carried on with
out them Through the trust the enor-
mous waste that is entailed upon bust
ness operations by competition is saved.
The product and the service performed is
cheapened Labor will have the better
opportunity to enhance wages and short
en- the hours of told as lis so signally illus
tratcd in the railroad service of the coun-
try.
when the trusts shall have been prop
erly safeguarded by law their securities
will furnish means of safe investment
at somewhat higher rate of interest
than will be paid by Government, State
or municipal bonds, thus alfording an
opportunity for investment by people OF
moderate means.
"A bureau of government, or a board
similar to the Interstate Commerce
Commission should be established 20
whom all trusts shall apply for license
after being Incorporated and to whom
reports as required of National Banks
should be made. The terms of the IL
cense should provide against oyercapital-
ization.
"Al profits beyond 6 per cent should
be taxed for the benefit of the Govern
ment 1t seems to me that it is the duty
of this conference to request Congress
to submit amendments to the ConStitu-
ton, giving it necessary power to con
troll the trusts and to tax their profits"
When Governor Foster concluded a
committee ON resolution was announced
Among the members are:
Florida--Dr. John f. Forbes; National
Grange Il. of H., s. II. HLlis, Ohio; lii
nois Commercial News Association.
Samuel b. Donnelly; American Fedora
ton of Labor, Samuel Gompers; Nation
al Alliance Theatrical Stage Employees
Lee NJ. Hart; United Garment Workers
Henry White National Association Of
Manufacturers Theodore G. Search; Ma
tional Grain GrOwers Association, 5.
III. Greeley; National Farmers Alliance
and industrial UniCn, John Hill, Jr.
Travellers Protective Association of AM
erica NJ W. Phalen; Knights of Labor,
]. G.. Schonfarber; National Single Tax
League, Louis +. Post, Bricklayers In
ternational Union. NJ. r. Grady; Associa-
tion of Western Manufacturers, Walter
Fieldhouse; United States Agricultural
Department, Washington, -. c., Prof
IL. Il. NewcomIb; Delaware, Henry Al
loway. t&1
The conference adjourned after theean
nouncemcnt had been made that torilor4
row might there would be an address 10y
w. Bourke Cochran, Of New York, and
w. ]. Bryan, of Nebraska.
ANTI TRUST FORCES ORGANIZE.
Chicago, Sept. 1.-THE anti trust
delegates to the conference organized
their forces in earnest tonight and de-
clared in open meeting that they will
place the delegates to the conference as
anti or pro-trust. This plan If prpce-
dure was decided upon at meeting Mt
the Sherman House when Il steering
committee and a committee ON - rcso-
lutions We're appointed.