The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-05-30

Sometimes In his speeches about the
Republican party Colonel William Jen-.
nings Bryan stumbles onto the truth.
In his speech at the antitrust banquet
Mt st. Louis the other day he also ex-
pressed some common sense, which ap-
plies to the Democratic party as we'll as
to the Republican party. when he said:
THE Republican party Is impotent to
destroy trusts" The reason why this
applies also to the Democratic party Is
because that party's record does not
show wherein It has made any success
full effort in destroying trusts. In the
Congress In which the Democracy had
entire control OF both branches, backed
by control OF the executive branch OF
the government. there is no record OF
any legislation to destroy the trusts"
There. was. Just as much talk about
trusts rs there is now. for 1t has been
one of the free traders arguments.
Referring to Mr.. Bryans remark, the
New York Sun calls attention to the
fact that just now 1.-THE loudest howl
against trusts comes from Democratic
states. where that party has full pos
session of legislative and executive
branches Of the governments, and
where the legislatures have had plenty
OF time and inclination to destroy
trusts" They have passed laws and
are. still doing So but the trusts still
flourish. The Democratic legislators in
these states have shown themselves
'impqtent" to make a law that will de-
'stroy the operations within their own
states. The Sun notes that:
Texas has n terrible antitrust law.
which wouldn't hold water; and now il
has passed a still more terrible one, which
VIII not hold water, either. There has
been, we believe. exactly one case in Mis-
souri, OF customer OF trust taking nd
vantage OF the provision In the state law
that n debt due to n trust shall be non
collectible. Not even by invitations to dis
honesty can the legislatures make any
headwny. against the trusts. Laws are
piled on laws. and every trust act Is more
sweeping than Its predecessor and will be
Just as futile.
Before Mr.. Bryans party can expect
to rid the country Of trusts by legisla-
ton. it will have to demonstrate that
1t is not impotent. No legislation,
no laws at present on the statute
books Of the United States are respon-
sble for trusts. Combinations nre
formed under certain business condi-
tons In some cases, where competition
becomes ruinous and results In the re-
ductlon Of prices. which means reduc-
ton of cost of production or bank
ruptcy. involving wage reductions and
strikes. and may prove necessity.
This. providing that the stocks are
based upon actual property and actual
business.
The popular antagonIsm to the trusts
Is largely due to the fact that so many
trusts are not legitimately based, but
are mainly built on wind and sand"
They will sooner or later wreck them
selves because Of .that fact. When n
states corporation laws permit thes or
ganization Of these concerns with
watered stock solely for speculative
purposes the state should revise the
law. They are evils and bring reproach
upon legitimate and safe combines
formed to meet the requirements Of
general business conditions. Mr.. Bryan
should discriminate between the good
and the bad. the dishonest and the hon.
est. also prove his party's competency
by its record In this matter.