The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-06-10
GET DOWN TO BUSINESS.

GET DOWN TO BUSINESS.
One who reads the speeches of these
leading Democrats who organize ban
quets so as to get a chance to speak and
thus keep before the public, dreading lest
they be forgotten, finds little to satisfy
him If he is seeking the remedy or the
treatment Democracy will apply to
these trust formations If it is again en-
trusted with power. There are reams Of
rant and volleys of vociferati0 and a
powerful making Of wry faces, but no.
where yet have we read any delivery
from any banquet board that indicated
any serious investigation along basal
lines. Vivid portrayal of methods and
actions, fierce denunciation of rapacity,
appalling predictions of commercial en-
slaEement, of this there has been plenty.
But this will hardly suffice for several
reasons the chief of which is that Re-
publicans are doing precisely the same
things in the same empty way and as
the Republicans are in, and are quite as
verbosely denunciative as these Demo-
Gratis. the disposition will be to let the
Republicans try their hand once more,
badly as they have bungled thus far.
1t is this condition that makes it i'm
perative that Democrats propose some
definite line of policy: some legislation
that will prevent the use Of power by the
trusts to injure. We repeat that Demo-
Gratis must put on their thinking caps,
and If those Of them who frequent ban
quet tables will not do 1t or cannot do
it, then the rank and file must Primari-
ly, We repeat again, must it be determined
whether the trend to consolidation Is a
cancerous commercial growth, to be
sharply cut out, or natural, logical
and inevitable differentiation on preced-
ing evolutionary growths. We have
stated the reasons which compel us to
accept the latter as the source of their
origin, not the least of which Is their
persistent growth in the face of prohibit
tive laws and jealous and apprehensiys
public opinion
If it become the consensus of Demo-
cratic opinion that the movement is a
logical and natural evolution, the ques-
ton comes: Wherein lies the capacity
Of trusts to infiict public injury and what
legislation is essential to prevent the use
of that power? So far as the enforce
ment of economies in making, distrib-
uting and selling tend to cheaper cost of
product the public is benefited, unless,
by use of their power, they prevent re-
ductton or increase price. The induce
ment to advance price while reducing
cost lies in the unrestrained capitaliza-
ton upon which shareholders will expect
dividends. Laws reducing capital to &C
tual plant value would remove this in
ducement. Democratic principles would
not be violated were these monopolies
limited to a fair rate of dividend upon
such capital, the excess profits to go
into the public fisc.
Democrats will have to consider
islation, they will not have to waive
somewhat Of their ancient doctrine of the
rights of states and give. by constitu-
tional amendment, power to congress to
regulate corporations operating on trust
lines. whose product forms part of inter-
state commerce. Thus far in expert
mental legislation this dualism has
proved a bulwark for the trust, the fed
eral law being imperative within the
states and the state acts void of force
beyond their own limits. These are
some of the phases of the question to
which Democrats must address their
minds if they are going to put the trust
issue into shape for intelligent discus
sion, and present it in a way to win the
votes of intelligent, reasoning men.
Were Republicans defending this child
Of theirs 1t would be sufficient, perhaps,
to indulge in mere mouthings, but they
are trying avoid the parentage and are
braying quite as loudly as are our own
banQueters.