Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-02-23

TION--REPUBLICANs PLATFORM
RESOLUTIONS WILL NOT DO.
Detroit, Mich. February s22-"It has
been a difficult year. We are landed on
a new field The stars and stripes are
plantedsto-night in a place where they
never have been before on Washing
tons birthday, lThey never have been
taken down from where they had been
planted but once before; and they
never will be again
/ Such was the enaracteristice utter9
ances of Gen. Russell A. Alger,. Secrs-
l'tary OF War, on assuming the function
of POSTMASTER tonight at the -four
Eteenthiannual banquet of the, Michigan
club
The principal address of the evening
was by Frank S. Monnett, Attorney
General Of Ohio. whose subiects was
sThe States Control over Corpora
tionss,
| GEN MOMENTS SPEECH.
/ "A corporation is peculiarly IA Great
lure Of retrospective States. under con-
stitutional and legislative restrictions,
and therefore, being creatures of the
State, it is but natural sequence a
corollary.to the proposition. sthat they
are subjects of State control.
| ut is the policy of the voters and
citizens OF the State and ofstbes nation
to hold its public servants. officers and
agents to a'astFiet accounting of their
trusts. They will neither tolerate ex-
travagance in public affairs nor ratify
negotiable bargains. They demand Of
the city councils, mayors Sgeneral as
semblies, economy, honest expenditure
OF the public funds and reasonable and
conscienceable contracts for and on be-
| half of the people Then why not with
equal political sense invoke the strong
arm of the State to protect her citizens
| from the eXactings and abuses and in
| terest- gathering, coupon-cutting, bond
800 ST. o5esssskAis
1creaturesso of the State that have abused
the confidence reposed in them and en-
ltrenched themselves behind legal fic-
ltionsi to exact Illegal tribute. What
shall be the remedy? you ash what
shah be the punishment; you demand.
Il will not denounce the conduct OF
| certain corporations as vigorously as
| did President Harrison one year ago
| tonight at Chicago on a similar occa-
sion. Neither do / yield to the cry Of
revenge of some of the aggrieved: nor
do l advocate reputation, or govern
ment ownership under our present
spoils system; but l do say, with all
the vigor of my soul, that The State
and the Federal government should
LAY HEAVY HAND Y
upon every such corporation that has
repudiated and broken its contract
with its sovereign by entering into COM
bines, by pooling TO exact non-compet-
| tive rates of freightgand by rebating
to favorites and discriminating against
| the inland cities and villages, and levy
| ing tribute upon State commerce in or
| der to favor inter-State commerce. /
would lay a. heavy hand upon every
such corporation that violates the
| promises 1t makes to the State, in ex-
change for the right of eminent domain
| to give the citizens the rights of a
common carrier, equal freight rates and
| equal passenger rates to all and special
| 1dvofs TO none.
| IF an established railroad so far
abused its privileges as to bind prop
erty for 999 years by a mortgage at 6
| per cent. at 5000, eco per mile, when the
market or competitive value -of these
| bonds is but three per cent, then let
| the State protect the new competitive
rod that will parallel at $4,000 per
| mile upon a 3 per cent. basis. IL the
| holder Of a government bond drawing
| 6 per cent. was Obliged TO hear the
| call and refund it at 21s or 3 per cent,
| then let the State through its sovereign
powers protect and foster competition
in these quasi-public corporations ex-
| ercising governmental franchises and
| powers until the holders of such invest
| ments must also realize that they or
their vendors have been guilty of legal
FRAUD UPON POSTERITY.
Compel such holder of stock and bonds
| to submit 10 the same treatment and
the same competition 10 which other
dealers in commodities are obliged to
submit But my bondholder friend
sends his lobbyist TO your legislative
UdjiS anu W gOuI uOtcA5 anu
houses and says, in seductive language,
Will you deprive me OF $4,000 of an
nual freight and passenger tolls upon
excessive valuation Of watered stock
collected from your merchants and
farmers by this system of competition?
Your answer should be, viii your
company exact war rates OF interest
from my constituents by non-competf-
ton? You viii hear OF cry OF vested
rights in this S24 900 Of annual dividend
on watered stock taken from a small
county. Your answer should be, my
farmers and neighbormen and mer-
chants have also vested rights in their
hard earned profits which must also be
protected. The conductor, the tele-
graph operator, the engineer, the track
man and day laborers on this same road
must meet competition in his labor, in
his commodity. The merchant, manu-
facturer and shipper must meet compe.
tition in his commercial world. Each
and every citizen must sooner or later
accommodate his investments TO the
ever-changing position OF society.
whether it affects his profits or vested
interests or not. Why should not the
investors in railroad stocks and bonds
submit to the operation of this inexor-
able law of competition. AS we'll might
wg join with the free silver orator OF
Colorado and demand the repeal of
he law Of supply and demand, as 70