The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-09-16

ruin itself by any attempt to compete In the
cufthroat way as quickly as IL would ruin
q competitor"
THE BALLOT THE REMEDY.
TIL next speaker. NJ = Lockwood, presi-
dent OF the American Antitrust League.
said: This precious weapon 1.-THE ballot is
in your hands. II cost oceans of blood to
wiring IL from the kings and emperors and
the aristocrats OF the old world. Use this
weapon earnestly and prayerfully-this
weapon before which legislators. congress-
men, senator's, presidents and judges are
but as chsff IN the whirlwind. Organize the
American Antitrust League; stand shout
der to shoulder with all sons OF toll"
Mr.. Keasbey. who spoke during the after
noon. gave ngures on the number OF trusts
which called New Jersey their home, and in
the course of his remarks said: The dam
ger 20 be met Is that they ttrustsl may
become too powerful and prevent All COM
petition. | think this cannot be prevented
by law l think We. -exaggerate the danger
OF the ABILITY OF want OF competition 70
qua CD prices. / have waited all through
this discussion TO learn any proof of the
fact that there did exist such danger, and
We must remember that the burden OF proof
IN on those who assert that these trusts
must be legislated against
Bureau OF Economic Research. followed. In
the course of his speech he said: Most
ominous Of all dangers Is the danger 10
0AAllLdA purity til DCiSOAdl llDCitys W =
er We like II or not. We are destined TO see
vigorous effort before law-making bodies TO
regulate city monopoly of light: heat and
transportation. The latter effort has thus
far had its effect in raising the prices OF
aldermen and legislatures. Laughter and
applaIse.l 1t Is To be feared that this and
other maIodorous events in the United
States Senate are but a forecast of what
awaits US on any serious attempt to regu-
M NJ. Garland. ex-president OF the Anal
Eamated Association Of Iron and steel
THAT this new form of trust will bring
voluntarily any new virtues to the business
world is a doubtful question. They are or
ganized for the purpose of making money.
and will certainly operate to that end. but
they have awakened more powerful watch
ers I'm the interests of the great mass OF
common people. and in this country the ma
iority of the privileges OF the people cannot
De long trampled on; The action Of the
whether they are TO be tolerated as useful
members of the Nations household or
whether the show OF hands will relegate
them TO oblivion"
MR.. FOULKES ADDRESS.
William Dudley Foulke. of Indiana. the
first speaker of the evening, captured the
audience from the start. He said in part:
"It Is my belief that the efforts of state
legislation totally to extinguish all forms OF
and that there are intrinsic difficulties in all
kinds of legislation intended to have this
effect. 1t is safe to say that the laws en-
acted up to the present time have been
worse than useless. Trusts never grew so
rapidly before as they have since the enact
vent the union OF many men on large capital
how can you frame a law so that IT will not
also apply to a union of a few men with
small capital, and IL you abolish every part
nership and every union you take away the
: only possibility which the small capitalist
has OF entering into successful trade at all.
Whether there be any repeal of the pro-
tective system or not, IL could well be abol-
ished in those cases where the industry is
In the hands of a monopoly.
1T Is evident that the power to suppress
these combinations to be effective must re-
side in the general government. If the
porations will all flock TO those few COM
monwealths where they find the greatest
immunity and the fullest protection. Under
our federal Constitution. while a single State
could prevent a corporation from doing
business directly. II could not prevent the
sale Of articles manufactured in pursuance
of corporate powers lawfully granted by any
other State And yet IL the national power
: Is 70 be evoked TO overthrow our manufac-
means CT an amendment to the Constitution
placing such Industries under the power Of
Congress. But when Congress shall control
all the elements OF production throughout
the Nation, the manufacture and sale of all
things by which we live. state lines will be-
come very shadowy things in the presence
of the great forces of a consolidated Re
public. Are the people OF America ready
for such a change?
II. that the total destruction Of these aggre-
cations Of capital is morally impossible A
great economic tendency, supported by an
mere enactments. But II Legislation cannot
overthrow monopoly. cannot 1t control and
guide these mighty agencies? The reform
of the tarin laws and of the avs regarding
taxation will 10 something. The require
msnt OF publicity will do q great deal more;
VIII invite what still remains of competition
IN cases where prices are excessive: will
largely prevent unjust discrimination In the
treatment of CUSTOMERS: will clearly show
In1T stems are IN no fQkon hr fha rr.-nA
wealth for the protection of the public in
IT may be that the time will come when
the state. acting upon the information of
public reports and examination. and having
larger knowledge on the subject than Ii has
Today, VIII assume more direct control of
the matter of prices. though think we ali
realize the great danger which threatens all
private property. when the government at
rempts TO regulate prices and to permit
those who have themselves little or nothing
At stake to control the profits of the prop
to-day with our imperfect knowledge of the
infinitely complex forces of our Industrial
life would be little short OF madness"
ROSEWATER'S RECOMMENDATIONS
Edward Rosewater spoke after Mr..
Fouike. He was applauded again and again.
In the course of his address Mr.. Rosewater
said:
The Imperative duty OF this conference
- TO devise mea-Ires that will make the
trusts harmless. With this end in view IL
8n0uld recommend:
-First-Tne creation by act OF Congress- of
3 bureau or supervision and control of cor
1ciatf0ns engaged In interstate miner
with powers for its chief similar to those
exercised by the controller of the currency
over national banks.
.second-Lesislation to enforce such pub
1cIty as will effectually prevent dishonest
methods OF accounting and restrict traffic
anu competition within legitimate channels.
Th1rd-The abrogation of all patents and
copyrights held by trusts whenever the fact
- established before a judicial tribunal that
1ny prancn OF industry has been monop-
otized by the holders of such patents or
copyrights. "
Foufth-The enactment by Congress of a