The representative. [volume] (St. Paul, Minn.) 1893-1901, 1899-09-21

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BOURKE CoCKRAN's GRAFTON.
The address of Bourke Cochran. of Ne
York. before the Chicago trust conference
on Friday evening. was mastery an
statesmanlike RresAntation Of the industri,
problems up Tor adjustment by the peopl
OF this country The speech was marked b
great candor and frankness. as we'll as b
An intelligent insight into the gist of th
questions seeking, solution. His eloquer
sentences were luminous with clear explana
lions OF the proper relations of labor an
capital and OF the real effect of combina
lions upon Rrieeaz and employment. M
Impression he leaves upon the mind of tn
public Is that the situation is by no mean
hopeless; that conditions are not as bad a
some would make them appear. and tina
the remedy for such evils as exist is com
paratively simple.
At the outset he referred to the difficult
surrounding most problems caused by tn
use OF vague, sonorous and misleadin
phrases which raise clouds of passionat
defamation. obscuring the outlines. In thi
way there has been much idle or passionat
discussion of combinations under misleadin,
examination. For instance, Mr.. Cochran
said: "A combination may be good or bad
according to its effect; a combination fol
prayer IN church, and all good men would
subscribe to the success of it. combina
ton Tor burglary is a conspiracy, and ali
good men would call out the police to pre-
vent 1t. Any industrial system which
operates to swell the volume Of production
should be commended; anything that op-
crates to restrict 1t should be suppressed !"
And further on. speaking of competition and
monopoly, he said: ANY competition is alb
solutely free to produce excellency. You
have the leading lawyer; he Is a monopolist.
You have the leading doctor; he monop-
olizes the best patients. The leading orator
gets the best audiences he gracefully
alluded to William ]. Bryan, who was pres
ent on the platform, as the greatest mon
opolist In respect to oratory on earth.
Mr.. Cochran does not take any stock in
the current theories that the so-called
trusts and combines destroy competition
The principle of competition is always at
work, and he does not believe there is a
single industry existing tn the country to-
day that Is really monopoly; even the
Standard Oil Company, which is generally
considered the leading monopoly, supplies
only about 81 per cent of the product used
by all it's consumers
The remedies for such abuses as exist,
which Mr.. Cochran proposes, are not new,
but they are presented with new force and
convincing logic. They are publicity and
the absolute inhibition of unfair discrimi-
nation. He would have every corporation
Or combination of any kind subject to gov
inspection and compelled to throw
open its books and all it's records to the
of its stockholders, even to the
person who owns but a single $50 or 800
share of stock. and compel the publication
of periodical reports of earnings, expenses,
liked charges, profits and dividends. mo
he says, has a right to
secrecy in the discharge of its duties
whenever any person seeks to allure you
INTO dark hallway on the pretense that
ne Is going to serve you, do not parley with
him a moment-he is a confidence man.
ire perpetrated.
"The payment Of interest; the false pre-
ense Of paying dividends which have not
been earned; false pretense about earn
ngs; false pretenses made up of false book
feeping; all these are nossible while the
of a corporation have the right
o close their offices in the face of their
,wn shareholders"
In reference to unfair discrimination, Mr..
Cochran contends that there are already
avs on the statute books Of the states
md OF the general government adequate to
prevent it il vigorously enforced, and he
ebukes the courts, for not enforcing these
PROVISIONS as they should be enforced He
eclares that a. special rate granted to any
me not enjoyed by others Is a felony. "'The
'ublic oficial in the control of any great
'ublic franchise who gives to one man op-
'ortunities at the expese of the other. lbs
hat other party, Il not Of the properly
n his possession, of the opportunity to
cquire property ~
These are remedies that can be applied
Without any constitutional amendment, al
hough a constitutional amendment requir-
ng corporation doing an interstate bust
less to organize under q federal charter
would undoubtedly facilitate the execution
t laws requiring publicity and forbidding
Unjust discrimination. We agree with Mr.
;ockran that in these two requirements
mpartially and unfiinchingly enforced, lie
he remedy for such evils as the so-called
rusts have inflicted or are able to inflict
pom the country and its people. With these
equirements enforced, the principle Of COM
etition would be free to operate and would
Inevitably correct all odious tendencies Of
Monopoly, in its best sense, Mr.
'ockran defines as merely the sitting out
t excellence. 1t is in reality the law
the survival Of the. f1ttest, under which
he man most competent to do certain work
7ill secure it, and the corporation which
an supply goods Of equal excellence cheap
r than any other will control the market.
|nder the operation Of the principle of free
ompetition no combination, however
trong, will be able for very long to make
nfair proflts by charging exorbitant prices;
n all unusual rate of profit will attract
Their combinations equally strong, into the
ame held.-Minneapolis Tribune.
The foregoing gives emphasis to sew
raj very important truths.
Wealth concentrated in the hands of !
few under the form of corporations |
nd trusts gives rise to the most import |
Mt issues before the American people.
This whole question has just been dis |
used at convention in Chicago OF |
from all parties and all |
ections Of the land.
Bourke Cochran may fairly be regard
d as having spoken In two capacities. |
lie spoke as a representative of the gem
raj sentiment prevailing, irrespective |
party, east Of Ohio. He also spoke as
on Of the Democratic party to which |
e belongs.
The Minneapolis Tribune may be fair
: regarded as representative Of the SEN
ment of the Republican party east and |
est
The Tribune here fully indorses Cock
ms views on the question of trusts /
At this Chicago trust conference
ockran ana Bryan appeared as the
ost conspicuous debators. They white
ashed the subject, soft-soaped each
ther, and the conference adjourned.
he conference proved, in fact, trust I
we feast.