Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-09-15

"A paper unuer the captlOn Excess
sive Financial Energy" prepared by
Horatio w. Seymour, was read, reas-
oning that without the tariff the trust
is impossible.
The programme for the evening was
announced as follows:
THE effect Of trusts On our national
life" Gov. Hazen Pingree; The De-
STABILITY of Trusts" ex- Gov. Charles
Foster, of Ohio; The Arkansas Law
as Applied to Trusts" Attorney GEN.
eral Jefferson Davis, Arkansas; THE
Limitation Of Competition" Washing
ton GLADDEN., Ohio.
The convention then adjourned until
s p. m
Enthusiastic interest and a crowded
hall put to-night's session sharply in
contrast with the forenoon and after
noon gatherings. Central Music Hall
was packed with an audience that rep
resented nearly every class of people.
Governor Pingree, of Michigan, was the
star attraction. The governor was re-
ceived with applause so fervent that
it was several minutes before he could
proceed with his address. He was
obliged to rise several times after TAX
ing his seat and bow his acknowledge
ments before the audience would allow
a h1f 70 fT,r,.
speaker
The house was divided against itself
during the address of the next speaker,
ex-Secretary of the Treasury Charles
Foster. Inc audience finally became SO
demonsrrative in interrupting the
speaker with questions and remarks
that delegate asked the chair to clear
the galleries unless the interruption
ceased.
Samuel H. Greeley, of the Chicago Board
of Trade, spoke on The protection Of
American grain markets from railroad and
warehouse monopoly" He was followed
By J G. Hanley, of st. Paul. delegate from
the National Farmers Alliance and Indus
trial Union Aaron Jones, of South Bend,
Ind, master of the National Grange de-
clared that the farmer was opposed 10 no
other branch of industry. including trusts.
The last speaker of the afternoon was
Major Benjamin R. Tucker, of New York,
editor of an anarchstic paper. He gave
his view of trusts from the standpoint of
the anarchist. The speakers with one ac-
cord, over-stepped the twenty minutes al
lowed to each speech.
At the close an opportunity for Discus
sion was offered, but motion 10 adjourn
was Overwhelmingly favored and was car
red
Ex-Governor Foster of Ohio. said:
"Denounce trusts as we may, they have
come to stay. Why? Because the gigan-
tic business operations of the future cannot
be carried on without them. Through the
trust, the enormous waste that is entailed
upon business operations by competition is
saved. Labor will have the better opportu-
nifty 70 enhance wages and shorten the
hours Of toll, as is so signally illustrated
in the railroad service of the country
when the trusts shall have been proper
" safeguarded by Law their securities viii
furnish a means of safe investment at
somewhat higher rate of interest than viii
be paid by the government, state or munic-
ipal bonds thus afford.ng an opportunity
for investment by people Of moderate
means.
"A bureau of government or a board,
similar to the Interstate Commerce Com
mission, should be established to whom
all trusts shall apply for license after be
ing incorporated and TO whom reports as
required of national banks should be made.
The terms Of the license should provide
against disqualification.
"All profits beyond per cent. should be
taxed for the benefit Of the government.
1t seems to me that it is the duty of this
conference to request Congress to submit
amendments to the constitution, giving it
necessary power to control the trusts and
10 tax their profits"