The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1899-09-29


because people with their plants, seeing the
fall in prices and measuring the loss on In
vestments, have looked about for some
means by which they could protect them
selves from this loss. and they have joined
together In combina lions TO hold up prices
II order to protect their investments from
a loss which would not have occurred but
for the rise in the value of dollars and the
fall in the level OF prices. tApplause)
Another thing that, to my judgment. has
aided monopoly is a high tarin. Nobody
can dispute that a tariff law, an import
duty, enables a trust TO charge for its prod
uct the price of a similar foreign product,
plus the tariff.
Touches ON the Tariff.
Now. some have suggested that to put
everything on the free list that trusts make
would destroy the trusts. | do not agree
with this statement, as IL is made so broad
ly. ! believe that the high tarin has been
the means OF extortion; that it has aided
the trust to collect more thar the trust
otherwise could collect But do not be-
leve that you could destroy all trusts by
putting all trust-made articles on the free
list. Why? Because. II an article can be
produced in this country as cheap,y as IL
can be produced abroad, then the trust
could exist, without the benefit of any tariff
at all, although II could not eNtort so much
as IL could with the tariff. and while some
relief may come from notifications of the
tariff we cannot destroy monopoly until We
Jay the ak at the root of the tree, anu make
monopoly impossible by law (AppiauseD
Concurrent Remedies Needed.
Now, | believe that we ought to have
remedies IN both state and nation, and thai
they should be concurrent remedies. In the
first place. every state has or should have
the right 10 create any private corporation
which In the justice of the people OF the
state is conducive TO the welfare OF the peo-
pie OF that state. | believe that We can
safely intrust to the people of a state the
settlement of question which concerns
them. If they create a corporation and {
becomes destructive OF their best interests,
they can destroy that corporation, and va
can safely trust them both TO create and
annihilate IL conditions make anUihiiations
necessary.
I'm the second place, the state has, or
should have. the right to prohibit any for
eisn corporation from doing business in the
state, and IL ought TO have, or has, the right
to impose such restrictions and limitations
as the people of the state may think neces-
sary upon any foreign corporation doing
business in the state. In other words, the
people OF the state not only should have a
right 10 create the corporations they want.
but they should be0 armitted TO protect
themselves from any outside corporation.
But do not think this Is sufficient be-
lieve, in addition 10 a state remedy. there
must be federal remedy, and believe that
congress has or should have. the power 10
place such restrictions and limitations, even
to the point OF prohibition, upon any corr
poration organized in one state that wants 10
do business outside q the state. | say that
congress has, or should have. power 10
place upon that corporation such limits-
tons and restriction even to the point OF
prohibition, as may ~ congress seem neces
sary for the protection 0. the public good.
state should Decide.
Now, / believe that these concurrent,
remedies will reach the o,ficulty. that the
people of every state snail first decide
whether they want TO create a corporation;
that they shall, secondly, decide whether r
they want any outside corporation TO do
business In the state. and. IL so. upon what
conditions; and, thirdly. that congress shall
exercise The right 10 place upon every cor
poration doing business outside OF the state
in which 1t is organized such limitations
and restrictions as may be necessary for
the protection of the public good.
- do not believe that the people OF one
STATE can rely upon the people OF another
state in the management OF corporations.
one method has occurred to M, and to me
1t seems complete nethod. 1t may not
commend Itself TO you. IL you have some
thing better shall accept 1t IN the place of
this which / aIn about TO suggest. But the
method that occurs to me IL this:
THAT congress should pass a law provid-
ing that no corporation organized in any
state should do business outside of the state
in which IT is organized until II receiyes
from some power created by congress a ii.
ceEsc authorizing IL 10 do business outside
Of its own state. (AFDlause) Now, II lhe
corporation must come 10 this body created
by congress to secure permission to do bust
ness outside the state, then that license can
be granted upon condition, which Will, in
the first place, prevent the watering of
stock: in the second place, prevent monop-
oily in any branch of business, and. third.
provide for publicity as to all Of the Trans
actions and business Of the corporation.
Constitution Might lie Changed.
IF such law is unconstitutional and so
declared by the supreme court. ara In ia
vor of an amendment TO the constitution
that will give TO congress power TO destroy
every trust in the country applause
what government gives the government
can take away. What the government ere
ates II can control, and / insist that both
the state government and the federal gov
eminent must protect the God-made man
from the man-made man whom We started
out with. (Appause)
Il have faith that these questions Will be
settled and settled right, but want to pro-
test against this doctrine that the trust Is a
natural outgrowth OF natural laws. 1t Is
not true. The trust is the natural outgrowth
of unnatural conditions created by man
made laws. (Applause) There are some
who would defend everything, good or bad.
on the ground that II Is a part of destiny
tapplause) and you cannot inquire into IT,.
The fact that II Is proves that IL ~ right:
the fact that 1: Is proves that II has come TO
stay. and the most potent argument that
was ever made in defense OF a vicious sys-
TEN was not that II was right, and ought to
stay. but that it has come to stay whether
you like IL or not. say that Is the most DO