The record-union., 1899-09-17

is raised. and YOU will be told that
you must protect the man who bought
this stock. My judgment is that no
man can stand in the position of an
innocent purchaser who buys stock IN
a corporation, if that stock is not rep
resented by actual money invested, be-
cause he can find out what the stock
stands for, if he will only investigate.
'If this license is granted, then the
first conditions can be that any cor
poration desiring to do business out
side of the State in which it is organ
lied shall bring to that board, or body,
proof that the stock is bona fide, and
that there is no water in it. In my
Judgment, when you take from mo-
noply the power to issue stock repre-
sented by no money you will go more
than half the way toward destroying
monopoly in the United States.
You can provide for publicity, and
that annually, or at other times, the
corporations shall make returns of its
business, and when you provide for
publicity so that the public shall know
lust what there is in the corporation
you will go another long step toward
the destruction of the principle OF mo-
nopoly.
"A third condition I suggest: That
this license shall not be granted until
the corporation shall show that it has
not had a monopoly, and is not at
tempting a monopoly of any branch OF
industry, or any article of merchan-
disc, and to provide that if the law is
violated the license can be revoked.
Now, l may be mistaken, but it has
seemed to me that this method of deal
ing with the trusts would prove an
effective method l do not say there
shall be no private corporations, but
say that a corporation is created by
law. it is created for the public good
and it should never be permitted to dc
thing that is injurious to the public
good.
My contention is that there is q
vicious principle running through the
! various policies which we have beer
pursuing; that in our taxation we have
been imposing upon the great strug-
Cling masses the burdens of the Gov
ernment, while we have been voting
the privileges to the people who viii
not pay their share of the expenses o.
the Government.
| Every ldA law 10 dll lIllil &c
form of larceny. If we can secure {
government whose foundations arr
laid in justice. and laws exemplifyins
the doctrine of equality before the law
and then under such a government anC
such laws wealth is accumulated to {
point where it becomes dangerous, thel
we can meet that question when it ar
| rives, and I am willing to trust th
wisdom of society to meet every ques
ton that arises and remedy ever.
wrong.
"I have faith that these questions
will be settled and settled right, but
want to protest against this doctrin
that the trust is a natural outgrowtl
of the natural laws. 1t is not true
The trust is the natural outgrowth 0
unnatural conditions. created by man
made laws.
You cannot hide behind the doctrin
that it is here, and you cannot get rit
of it.
Il believe that the American people
can get rid of anything that they do no
want, and that they ought to get rid o
| everything that is not good
Il believe that the Declaration of In
dependence was the grandest documen
ever penned by human hand. Tht
truths of that declaration are con
densed into four great propositions
that all men are created equal; tha
they are endowed with inalienabl,
rights; that Governments are institut
ed among men to preserve those rights
and, that Governments derive their JUS