Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1899-09-13
TRUST DEBATE IS ON
The Great Conference Under Aus
pices Of Chicago Civic Fedora
tion Begun Today.
Called to Order by Franklin q.
Head, Who Explains Object
Of Meeting.
Representatives Of Many States Pre-.
sent to Take Part In the
Discussions.

Chicago, Sept. 1s.-Tne great confer
ence on the uses and abuses of trusts
and combinations, with representative
men from nearly every state in attend
ance, opened here today. Central
Music Hall was packed with the 200
delegates and spectators. The meeting
was called to order by Chairman
Franklin H. Head, chairman of the
chicago Civic Federation, under whose
auspices the conference is held, who
said in part:
Mr. franklin H. Head, president of
the Civic Federation of Chicago, called
the conference to order and said:
The Civic Federation of Chicago is a
non-partisan organization, embracing
in its membership goodly proportion
of the active business and professional
men of our city. Some months since it
realized that no topic seemed SO widely
discussed as what was designated by
the general title of 'trusts'-and that.
too, upon no current topic was there so
| widespread and general an ignorance
>N--e%
to US a crying need for education upon
the subject; of an education which
would show the broad distinction be-
tween the various trade combinations
and trusts, and to promote such educa-
ton this conference is now in session.
1t is not a trust or an antitrust con-
| ference, but a conference in search of
truth and light With this end in view
baS .I,ae. iriY 5r,F,
Of every shade of opinion upon the gen
erai subject: from the men who regard
/ trusts and trade combinations as the
| standing menace to our national pros
perity, and even to the perpetuity of
our system of government, to those who
| feel that trade combinations and large
/ aggresations of active capital are sim
4 ply an active evolution in the develop
ment of our industrial and commercial
life. and that such aggregations are alb
4 soluiely necessary TO compete with the
/ vast accommodations and experience of
/ the older nations, and their almost total
control outside of food products Of the
/ markets of thes world. We are also TO
4 hear from those holding views between
either extreme: those who believe in the
4 value of combinations properly organ
/ ized. but who recognize in the reckless
land excessive capitalization of many of
I such combinations peril leading TO
| Widespread panic and distress from
such inflated stocks being absorbed by
! the small investors whose savings may
be thus in great measure lost.
We hope to hear the general subject
dis used from ali possible standpoints
from the view not only of the organ
izers Of the combinations. but also from
the w9rNmen and customers of the
u.
tgl Will Be thrown upon the difference
4 between the class of trusts which tend
to monopoly and the Industrial coinbi-
j nations which. in many cases seem to
be TO the advantage of all.
4 We are now in a pcr,od of a large
4 advance in the Prices of most classes of
4 manufactured goods, especially IN iron
II ana steel prooucts, aud we hope that
Esome of our speakers will illustrate
how much af this adVance is due 70
combine tions and how much TO the
4 vastly increased demand which IN all
q lines has always in the past resulted in
\ advanced prices under the immutable
Ilaw of supply and demand. There has
4 been no trust or combination, for in
stance, among our farmers but we all
recollect how. two years ago, the short
wheat crop abroad caused such an IN
vance the price of that staple over 80
4 per cent within period of four months,
i and that later an enormous demand for
wheat from one of our own citizens.
Mr.. Joseph Letter whose hunger for
4 wheat gave him world wide reputation,
Hcaused an advance OF another 80 per
cent
The very general response to our in
| vitations TO this conference from the
lgovernors of nearly all the states, who
Ihave appointed as delegates their most
eminent citizens-from the great COM
mercial bodies, the universities, and tho
4 labor, Agricultural and other organiza-
tons which have sent their ablest men
4 and most profound students of econom-
lie problems-this response has been
gratifying beyond measure, and illus
4 trates the abiding interest everywhere
felt in the general subject and it's inn
4 partial discussion. This response also
j fills us with hope as to the great adj
vantages which will result from the
full discussion of all phases of the most
! vital topic OF the day
I'VE trust that this discussion may be
able scholarly and dignified. as be-
\ comes the subject and the occasion and
Ithat when these discussions reach their
proper audience--the millions of people
d in every town and hamlet who from the
newspapers receive the reports of your
deliberations-it may lead to such ac-
tion as may tend to preserve in our
trade combinations all which is of val
ue as well as to point out methods by
which the evils of such combinations
may be avoided or done away
Roll call disclosed the fact that thu
greater part of the delegates have yet
to arrive. Many found it impossible to
attend the opening session
Representatives of Governor Tanner.
who is Ill, and Mayor Harrison. who is
4 out of the city, then welcomed the del
t |egates. Papers We're delivered by Pro-
i fessor j. w. jerks and Professor Hen
ry Carter Adams, both under the cap
tion of PROBLEMS Before the Confer
ence.'
4 John Graham Brooks, lecturer on So
cial economics at Harvard College. read