Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1899-09-21
COCHRAN ON TRUSTS
The Eloquent New Yorker Ana
lyzes the Trust Question.
He Suggests that the Remedy for the Evil
Lies In Forcing Public Corporations
TO Make Their Business
an Open Book.

an, of Nebraska, and Bourke Cochran,
of New York, before the Civic Fedora
ton conference on trusts and corpora
tons, did not take place at Central
music hall last night, as announced,
for the reason that Mr.. Bryan declined
TO participate in the debate, claiming
that the committee had misunderstood
him in regard to the matter. He,
however, agreed to speak at the fol-
lowing days session. Mr.. Cochran,
therefore, had the platform to himself,
and talked on the subject of TRUSTS
and Corporations" for two hours. Fol
owing is synopsis of his address:
Mr.. Cockran's Address.
THE precise question which we have
oeen called to consider is the effect on the
general prosperity of the community of
Combinations, whether of capital or of
philosophical inquiry is the use of vague.
sonorous and misleading phrases, which
salse clouds OF passionate defamation
scuring it's outlines and even magnifying
It's dimensions Such words have figured
question that find great difficulty in dis
5ussing the facts which confront us on
account of certain words which excite US.
daughter and applause-)
For the purpose of establishing an in
telligent basis of discussion, somewhat
free from these terms over which men
have become moved 10 passionate decla =
nation, l shall define prosperity as an
abundance of commodities fairly dis
rributed among those who produce them.
There can not be abundant production
ot commodities without extensive dis
tribution of them in the form of wages in
country wherein prosperity is based up
on freedom (Applause.)
There can not be any distribution II
there is not production, ana there can not
there
is abundant production. We must have
commodities to distribute before we can
distribute them in the fern OF wages or
There are some combinations which
operate to reduce prices, ard some which
operate to increase them Now, IL &C
cept either / should offend against that
other offender of which l complain. 1t
will be idle to say that some improve,
them if we did not prescribe some test
by which we could distinguish between
Test Proposed.
THE test is to ascertain whether the
combination of capital AoIu iSheS through
government aid or without it, for, my
friends, you must see that any industrial
enterprise which dominates the market
without aid from the government must do
SO througn cheapenlng the product, or as
1t is commonly called, by undersellinS
competitors. An industry which at one
and the same time reduces prices and
SwellS its own profits must accomplish
that result by increasing the volume of
it's production. (AppIause) On the other
hand, an industry sghich dominates the
market by the favor of government, di
rect or indirect, can not, in the nature of
things, be forced to cneapen prices, be-
underselling competitors n an open field
without favor, it would not need the gov
eminent favor: Applause)
THE interference of the government
would be an injury and not a benefit to it.
An industry or combination of capital, or
anything You may choose &c call it, that
competition, that delivers to the con-
sumner its own terms, necessarily de-
profits, extorted, not from the excellency
of it's service. but from the helplessness of
those with whom it deals. (Applause.)
Now there are three ways in which the
government interferes in the trade of in
dividuals in this country. One is by patent
'iThe other means by'which the govern
ment interferes is by tariff 1t operates to
restrict competition in the production of
any article, to those engaged in 1t in this
But if trust or combination is to be
formed manifestly it aids the enterprise
where the field of competition is originally
limited. Under condition of free trade
every article which is produced is ex-
posed to the competition of the whole
world. If you rely on the combination to
suppress competition, manifestly it is
easier to make combination between the
tries, and to that extent tariff favors
them. (Applause.) But 1t Is claimed that
sn9 exclusion on OF nor9lSn competition IN
competition much Keensr. IN some mys-
ferrous methods more benefcent. do not
understand this logic
Public Franchies.
There is still third and serious cues
ton with which / think we can deal and
which I believe is vastly more extensive
in it's results than this tariff in favor of
trusts. l refer to those favors which are
extended to certain industries or great
corporations enjoying government fran
Obi Txynf nf aFa he
ment agencies. because their stock Is
owned by private individuals.
And here we are face TO face with a
serious difficulty. First, 1 must assum
1t serious difficulty because it is almost
impossible to describe il. 1t is surrounded
believes But for the PURPOSES of phiIo-
sophical discussion, it is impossible to try
to follow that which you can not fully
describe, and the worst feature, there
fore. of this outrage which it perpetrates
against a certain class of the community
Is that 1t is shrouded in mystery.
mo person can enjoy a favor at the
hands of any company enjoying a public
other. Government can not create any
thing Now, if government can not create
anything, 1t has nothing of it's own to be-
stow. If 1t undertakes to enrich one in
dividual, the thing it gives to him it must
take from another. ;Applause)
,sciatIv HE. if he aoo ma. are e
ported at loss, why, other men using
that same facility must make good the
what is the remedy? A simple one. ]
believe Some gentlemen have suggested
municipal ownership: | have no quarrel
ship. / concede the principle of it, The
government has no right to empower any
private agency to perform function un-
less it be one which the government
would be bound itself to perform If that
agency were not to be found. s(AppIauseS
The question of municipai cyynersbin is n
mere question of expediency. / won't de-
bate ii here for the reason that If il be a
gN T. RH.NI
cussion of it would be discussion of the
interests of our children rather than of
ourselves. U-aughter and applause.)
There are many grave questions to be
considered before municipal ownership
could be reduced to pracFical operation.
even though We would now set about the
task
Remedy Suggested.
''Now.is there any practical remedy that
this conference can suggest that can be
that happens to be in session? Ny friends
Il seems to me to be very simple matter
The remedy is simply to define practical
for publicity and provide the proper stat
ute of publicity, and you need not en-
poration granting special favor to any
person who has a right to use that pos
Else ought to be held guilty of a serious
felony. (ApplauseO
No fines. no judicial Tehukes. no de-
nunciation from platforms, no Legislative
enactment declaring things are reprehen-
sive will touch the subject. but a specific
enactment that special rate granted to
any one not enjoyed oy the others is n
felony. and proper means to punish 1t will
do something toward checking IT. 1t Is a
crime of the first magnitude. The public
official in the control OF any great public
concern which gives 10 one IAN oppor-
tunities at the expense of the ~.her, robs
that other party. If not OF the property in
his possession. of the opportunity to &C
quire property. Applause9
Now, with a statute authorizing and
making it the right of every shipper, of
every person using a public franchise, to
have disclosed to him at any time every
contract and agreement made with any