Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-15

PRODUCED Governor Pingree. of Michigan,
who spoke Oh THE Effect OF Trusts Upon
Our National Life and Citizenship"
Ex-Governor Foster, Of Ohio, was the
next speaker. He said:
"Denounce trusts as we may. they have
come to stay.
why? Because the gigantic business
operations OF the present and future cam
not be carried on without them. Through
the trust the enormous waste that Is en-
tailed upon business operations by COM
petition is saved. The product and the
service performed are cheapened. Labor
will have the better opportunity to en-
nance wages and shorten the hours Of
toll, as is so signally illustrated in the
railroad service of the country.
when the trusts shall have been pro-
perly safeguarded by law, their securi-
ties will furnish a means of safe invest
ment at a somewhat higher rate OF in
terest than Will be paid by government.
State. or municipal bonds, thus affording
an opportunity for investment by people
Of moderate means.
"A bureau OF government, or a board
similar TO the Interstate Commerce Com
mission. should be established, TO whom
all trusts shall apply for license, after
being Incorporated. and 10 whom reports
like those required Of national banks
should be made. The terms of the license
should provide against overcapltalizatlon.
"All profits beyond 6 per cent. should
be taxed for the benefit Of the govern
ment. 1t seems to me that it is the duty
OF this conference 10 request Congress
TO submit amendments to the Constitu-
ton. giving it the necessary power to
control the trusts and TO tax their pro-
fits"
,,o,,-,rro-r-r- ,>- Dr-cor r-,rTONS
When Governor Foster had concluded
a Committee on Resolutions was an
nounced. Among the members are:
Florida, Dr. John f. Forbes.
, National Grange, Patrons OF Husbandry,
s. II. Ellis, ONO. IL.
Illinois Commercial News AssOtiatloh'
Samuel B. Donnely.
Federation of Labor, Samuel GOmpers
National Alliance Of Theatrical stage
Employees. Lee NJ. Hart D,,,.,..
United Garment Workers, Henry White
National Association of Manufacturers,
Theodore c. search. .
National Grange Association, ;. ).
Grely.
National Farmers Alliance and Indus
trial Union, John Hill, Jr.
Travellers Protective Association OF
America M W. Phelan.
knights Of Labor, j. q. Schonfarber
National Single-Iax League. Louis +.
Post.
Brickayers international Union, NJ. r.
Grady.
Association of Western Manufacturers,
Walter Fieldhouse.
United States Agricultural department,
Washington, ID. c., Professor III. +. New
comb.
Delaware, Henry Alloway.
The next speaker after eX-Secretary
Foster was AttOrney-General Davis, or
Arkansas. When Mr.. Davis had conclud-
ed the audience was in d state OF aBlta-
ton. which made it thoroughly enjoy
slip on the part OF the chairman VINO
announced that the next toast-dnd what
followed was overwhelmed by the laugh
ter that ensued.
DEFENCE OF TRUSTS.
He finally found opportunity 10 miro
duce Professor Gunton, who spoke IN ue-
fence of trusts and large corporations.
During the latter portion OF MS speech
Mr. GuntOn was frequently interrupted
by questions from spectators In the SdI-
lery. ou Conn.
panv?" asked a man in the rear.
The speaker started to reply, pul was
interrupted again, despite the chairman
gavel. OF. 81 Do1oyata
RueI of Illinois, spoke in favor OF lar
plav. and declared that every speaker
should be heard without interruption
Attorney General Gather, OF Maryland,
was the next speaker. His subject was
'',The Regulation and Control OF trusts,
A. the conclusion Of Mr.. Gather al
dress the conference adjourned, after the
announcement had been made tnat 10
morrow night there would be addresses
nv " Bourke Cochran, OF New fork,
and w. ]. Bryan, of Nebraska.