The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-06-26
MOMENToUS TRUST QUESTION.
PREPARATIONS FOR THE COMING
CHICAGO CONFERENCE.

Many Governors ana Men Prominent
in the business and Educational
World VIII Attend--secretary Nor
tons Views of Trusts--BelIeves All
Except Natural MonopoIies Can ne
Competed Against-Predicts the
Failure of Many Trusts.
Chicago. June 25-Secretary Easley of
the Civic Federation OF Chicago under
whose auspices a conference win be held
in Chicago, Sept. 1916, TO consider the
trusts and combinations and legislation
for their control, has received hundreds
OF letters from prominent men all over
the country accepting invitations to be
present at the meeting.
Among those who have signiaed their
intention of attending the conference In
person. or who will be represented. are
Cows. Pingree Of Michigan. Roosevelt OF
New York. Stanley OF Kansas. Sayers of
Texas, Mount Of Indiana, Fancher OF
North Dakola Thomas of Colorado, Tan
ner OF Illinois. McLaurin of Mississippi.
Mcmillan of Tennessee, Pointer OF Ne
braska and Lee of South Dakota. john
h. Clark, professor Of political economy.
Columbia University; j. y. jerks, pro-
fessor of political economy, Cor
nell. and expert in trusts and COM
binatons for the industrial commissions
=. y. Dow, president Commercial Travel
ers National League; Francis b. Thurber,
president National Exporters Association:
Max Adler. president Board of Trade, New
Haven, Conn; Henry A. Adams, statistics
ian Interstate Commerce Commission;
members of the Industrial commission;
Willis Young. president Northwestern
Traveing Mems Association; James A.
ODonnell, president International Assocl-
alton OF Machinists; Attorney Generals
Davies Of New York, Hicks
Wisconsin. Monnett OF Ohio, Doug
las of Minnesota, Remley OF
Iowa, Davis of Arkansas. Bellinger of
South Carolina, Bishop Of Utah, Taylor
of Indiana and Goddard of Kansas: Com
missioner Of Labor Thomas +. Rixey Of
Missouri, George Preston. secretary and
treasurer of the International Society OF
Machinsts; Hoard Of Wisconsin.
Can Compete with Trusts.
In acknowledging the receipt Of an invi-
tation to attend ex-Secretary of Agricu-
ture j. Sterling Morton OF Nebraska says:
TRUSTS which are over capitalized ara
born Of the Vaccinations OF shallow and
impractical men, Tney will fail and no
one he harmed except those whose credul-
ity led them to invest in their securities.
There is much misapprehenslon as to-
Incorporated capital In the United states,
Oratorical vagarlsts have cndeavored 10
make common people believe that incor-
porations are not subject 20 economic laws
OF competition, and that the relation OF
supply TO demand is mol the sole reguia-
tor of values. The fact, however, re-
mains that money Invested In manufac-
tories or in railroads belonging to incor-
ID IN al po baftpF and
more exempt from the operation OF COM
mercial laws than the money which is
owned by individuals. There need be, In
my judgment, no apprehension as to tho
trusts crushing out all competition.
with the exception OF the oil trust and
the sugar trust, the failure among trusts
has been UNIVERSAL The whisky trust,
the tobacco trust and all the other trusts
OF any Importance up to daie, excepb
those that have been formed very re-
Gently, have been complete failures. These
failures have come firstly, from over
capitalization; and, secondly, from mis-
management. Intelligent competition can
enter the field against any trust on earth
except Aone, which has a natural monop-
oly 10y this / mean one. which, like the
Standard oil Company, owns the only
oil producing lands IN the country, and
successfully put It's products upon the
market with the sympathy of the con-
sumer all on its side
Light, Not Heat, Needed.
Or. Lyman Abbott OF New York says:
Il think what we most need on the sub
ject OF Industrial, commercial. labor and
transportation combinations, Is just what
your letter indicates this meeting will en-
deavor to secure; light, not heat. What
we need to understand and what only ex-
perience can teach rs, IL the relation be-
tween competition and combination, tho
one the centrifugal, the other the CEN
tripetal force OF society.
"He who believes only In combination
will logically be led to socialism; he who
believes only In competition will logically
be led to nlhilism. Neither of these re-
suits can possibly furnish the solution OF
the problems which now confront us. We
must learn how TO secure the advantages
OF combination without destroying the in
dividual; to maintain brotherhood In prac-
tical forms without sinking, obscuring or
oelittling personality"
Hundreds Of other letters have been re-
ceived the writer's In nearly every case
expressing sympathy with the purposes OF
the rouffrpDpQ