Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-09-20


men will then share the suffering OF
the man who sells the raw materials.
Il want to warn you that when the
monopoly has absolute control braina
will be at a discount. We have no;
had yet a taste of complete trust
But when the trust has rid itself of all
competitors what is going to be the
result? My friends, all you have 70
know is human nature. God mace men
selfish.
"On the farm we used to protect prop
erty from the hogs by putting rings in
their noses. Why? So that while they
were getting fat they would not de-
stroy more than they were worth.
One Of the great purposes of govern
ment is to put rings in the noses OF
hogs. II | were going to try to find
the root of the monopoly evil | would &c
back to the Blble for an explanation
and l would find it in the declaration
that the love of money is the root OF
all evil
Falling prices, caused by rising dol
lar, and the high tariff, have contrib
uted the desire to secure the fruits OF
monopoly.
AJoAAC nave SllS5SotNd sbudt W ptll
everything on the free list that trusts
make would destroy the trusts. But
do not believe that you could destroy
ell trusts by putting all trust made
articles on the free list. because if an
article can be produced in this country
as cheaply as it can be produced
abroad, then the trust could exist with
out the benefit OF any tariff at all, al
though it could not extort SO much.
We cannot destroy monopoly until we
lay the axe at the root of the tree and
make monopoly impossible by law
Discrimination by railroads has aided
trusts. That can be remedied by laws
which will place producers on equal
footing. But the remedy must be com
plete enough TO prevent the organiza-
ton of monopoly. We differ more
in remedy than we do in our opinion
of the trust. Few people will defend
the trust as a principle. As to the
remedy:
Both State and nation could have
concurrent remedies. In the first place
each State has or should have the right
to create any private corporation which
in the judgment of the people OF the
State is conducive to a welfare of the
people of that State. | believe that
we can safely entrust to the people of
State the settlement Of a question
which concerns them. Ii they create
corporation it becomes destructive
of their best interests they can destroy
that corporation, and we can safely
trust them both to create and to ami
hilate if conditions make humiliation
necessary. In the second place, the
State has or should have the right TO
prohibit any foreign corporation from
doing business i'll the State and it ought
to have or has the right to impose such
restrictions and limitations as the peo-
pie OF the State may think necessary
upon any foreign corporation doing bus
mess in the State. | believe. in addi-
ton to a State remedy there must be
a federal remedy. Congress has, or
should have, the power TO place such
restrictions and limitations, even to the
point OF prohibition upon any coTpra-
tin organized in one State that wants
to Go business outside Of the State con-
trary to public good.
Il believe that these concurrent rem
edies will reach the difficulty; that the
people of every State shall first decide
whether they want to create corpo-
ration; that they shall, secondly, de-
eide whether they want any outside
corporation TO do business in the State,
and, if so, upon what condition; and,
thirdly, that Congress shall exercise
the right to place upon every corpora
ton doing business outside Of the State
in which it is organized, such limita-
lions and restrictions as may be neces-
sary for the protection of the public
good.
Col Bryan at this point read the
famous circular letter advertising the
incorporation laws of Delaware. He
commented sarcastically on advantages
set forth in the letter.
A person in the audience inquired:
Delaware and New Jersey are both
Democratic States, are they not?" to
which Mr.. Bryan replied: They were
not in 1896"
He continued:
81 have read this letter in order to
show you that Where a State can gain
an advantage from the incorporation
of these great aggregations of wealth,
it is net safe to place the people OF
other States at the tender mercies OF
the people of such a State as may de-
sire to secure it's running expenses from
the taxes OF corporations organized to
prey upon people outside.
Il am ready to adopt any method for
the humiliation of trusts. One that /
suggest is this:
THAT Congress should pass a law
providing that no corporation organized
in any State should do business out
side of the State in which it is organ
lied until it receives from some power
created by Congress a license authoriz-
ing it to do business outside of it's own
State. Now, if the corporation must
come to this body created by Congress
to secure permission to do business out
side 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
monopoly in any branch of business;
and, third, provide for publicity as to
all of the transactions and business of
the corporation.
If this is unconstitutional and so de-
clared by the supreme court, l am in
favor of an amendment to the consti-
tuition that will give TO Congress power
to destroy every trust in the country.
In my judgment, when you take from
monopoly the power to issue watered
stock you will go more than half way
towards destroying monopoly in the
United States. You can provide for
publicity and that annually, or at such
other times, the corporations shall
m lse returnS Of its hilsinoss of its