The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1899-09-07
rAwNEY ON TRUSTS.


In these days when the subject
of trusts is occupying a prominent
place in public attention, any dis
cussion which will tend to set forth
their nature and their possible eff
fects clearly is of value in forming
a lust estimate of their relations to
the great masses of the people.
lie tSi@Lll<t1l 1g ta9& o~
:. mona, Hon. at 10
member OF cong IS ON rhu fn5t
district, pertinently said:
During the past year industries
representing more than three tnous-
and million dollars, or more wealth
than all the money in the United
States, have been cons olidated into
large corporations. 1t Is true that
not all of these constitute either
trust or monopoly. But there are
enough industries in which consollda-
tion in that form is possible, and is
now being attempted, to excite the
serious apprehension of the public.
''While the destruction of competl-
ton and the Capitalization of produce
tive industry will, if not checked, lead
TO consequences disastrous TO the
people and the public, yet the most
serious result is the menance involved
to the welfare and life of the nation.
Individual opportunity is the neces-
sary condition of free labor, the par
ent of industrial progress The OPP
portunity for Individual effort and
the attainment of every laudable, am
bition in competition with our fellows
is the priceless open secret of Amerl-
can democracy 1t has made US In
little more than a century the most ag-
gressive of the foremost nations OF the
world. 10 mas IorUeI MO acvi iay ti-o
resistless energies of our people. 1t
has made possible for the indivld-
ual the realization of his highest ca
pacity as a citizen. 1t has blessed
our homes with happiness and given
TO our industrial system moral and
intellectual significance, which are
the pride of America and the envy OF
the world.
'lt is not alone, therefore, the ma
terial welfare of the public, but the
future life of the nation, that demands
a wise limitation upon the power and
the right of capital to consolidate in
to monopolistic forms organization
for any purpose whatsoever. Mere
control and regulation by Legislative
enactment will not reach all phases OF
the evil. There must pc limitation
SO adjusted, if possible, as to meet the
demands of our growing trade, but IN
any event limitation either by direct
legislation or by system OF gradu-
atsd taxation that will protect the
public and the nation from the mem
ance now threatening because OF the
rapid GENERALIZATION of productive in
dustry and the control of markets by
grasping monopolles. 1t is true, laws
now exist making the formation OF
combinations for the purpose OF rails
ing prices, limiting production and
restricting or destroying competition,
illegal. But these are NECESSARILY linn
tied in their operation to the state,
and TO the corporations created by the
state and, those acquiring situs
therein. These laws do mot reach,
and it Is doubtless If they can be
made to reach, the business OF the
foreign corporation, except by the
use OF such drastic measures as might
occasion more harm than the trust, or
unless a sufficient number OF, states
agree upon this line of legislation,
thereby. taking away from, the.srnst its
principal market for the sale of its
products. If the people, in the exer-1
else Of. their sovereignty, and uponithe
ground of public policy, can declare
combinations for the purpose of rails.
ing prices, limiting production and
restricting competition, Illegal, they
can ALSO, upon the same ground,
wherever the welfare of the nation de-
mands it, limit the extent to which
capital can go in the creation of org
anizations for the control OF produc-
tive industries.