The times. [volume] (Richmond, Va.) 1890-1903, 1899-06-16
FRIDAY, JUNE le, 1899.
UAyr,iEYEn,s HUNT TRUTHS.


One OF the most interesting deliverances
vet on the subject Of trusts was The
testimony Of Mr.. Henry o. Havemeyer.
the sugar magnate before the INDUS
thai Commission in Washington on Wed
nesday last. ar. Hayemeycr is a man OF
Affairs. and he talks business I'm a plain.
practical manner that at times IS almost
brutal I'm its brusqueness. lie docs not
attempt 10 cover up the truth. ho docs
not mince matters, he states the cold
facts as they are. and lets the eonse-
ouences take care OF themselves Tie is
q rich man. and can afford TO Doe candid.
lie said I'm the beginning what The
Times has so often said i'm discussing
this question. that the trusts are not in
busnes for the sake OF philanthropy, but
for the sake OF making money and that
they take advantage OF every opportunity
offered them. "The only way 20 prevent
competition" said Dee. 'Is TO- Keep prices at
the minimum-not necessarily i'm the in-
terest Of the consumer. but as matter
OF business" Trusts were originally or-
ganizod TO control the product and 20 put
up prices. but they very soon found that
in doing this they were defeating their
own end. and that their very existence dee
pended upon selling the very best article
at the lowest price. for fin this way only
could they make their goods popular.
with reference TO the price paid for
labor. Mr.. Havemeyer said that good men
in tho employment of the trusts We're paid
10 per cent more than they could set
elsewhere. Nor is this done I'm Tie in-
terest Of philanthropy, but in the in-
terest of business. In order TO make the
best goods al the cheapest price. the
trusts must have the best labor In tho
world and the best labor always COM
mands the highest price.
Another interesting statement that he
made was that IN the American Sugar
Refining Company there are lte00 stock
holders. This will bee startling to many
people. and yet Times has frequently
called attention to the fact that the trusts
were not in the hands. as some people
supposed. OF a few rich men, but that IT'S
country. Most people have thought Of the
Hayemoyers a. being the whole thing in
the SUGAR Trust but Mr.. Havemcyer tes-
titles that the stock OF that trust SIS held
by an army Of men large enough TO take
Cuba. This shows that the trusts are
largely composed Of the people and it is
wen known that they are EatronIzed by
the people. therefore It is out Of The Ques-
ton TO talk about putting them down by
law. As Mr.. Havemoycr bunly puts St.
'that is trade. and the sooner you realize
1t and quit trying 10 control &c by Fed
eral legislation. the better for an" This
does not mean. however, that corporations
are not 90 De regulated by law They
are the creatures OF law. and it is nss-
fecuy competent 20 throw around them
reasonable restriction.
But the most interesting as well as the
most pointed. item in AIR. Hayemcyers ex-
animation was this.
Q-By Mr.. Lv'ngston-was the sugar
refining Industry built up under free trade
or protection?
A.-Protection; enormous protection.
There IS the whole thing I'm the nut
shell. and the question 10 which the pea
pie Of the United States must address
themselves. We DO not believe ia SOC
called antitrust legislation but we are
more opposed % pro-trust legislation. We
think II scarcely less than Infamous that
any law should be enacted 70 enable the
trusts 20 swell their profits az the ez-
pense OF the general public. IL De- robbery.
outrageous, objectionable robbery when
the taxing power Of the government Is
used not for the purpose OF raising reve-
nue. but for the purpose Of enabling one
class Of citizens &c profit Of the expense
OF another class Of citizens That IS the
thing that we have always fought. that
we always Will fight, and which We would
love to see the Democratic party fight
with It's Old-tlme foryor In the nest ma
tionai campaign. Tho antitrust plank IA |
the platform OF 1s92 is worded 10 our
liking. II declares that the tarin fosters
the trusts. and declares that II is the |
duty OF the Democratic party 10 see 10 1t |;