The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-09-17
TRUST SYSTEM A
SODOM THE LAW
SHOULD CRUSH
Continued From First Page.)


people of every State shall first decide
whether they want to create a corpora
ton: that they shall, secondly, decide
whether they want any outside corpor-
ton to do business in the State, and If
so, upon what conditions and thirdly
that Congress shall exercise the right
to place upon every corporation doing
business outside of the State IN whicA II
is organized, such Limitations and re-
strictions as may be necessary for the
protection of the public goo |"
Colonel Bryan at this point read the
famous circular letter advertising the in
corporation laws of Delaware. He COM
mented sarcastically on advantages set
forth i'll the letter.
n person in the audience inquired
Delaware and New Jersey are both
Democratic States are they not?"
TO which Mr.. Bryan replied:
''They We're not in 1896.
He continued:
Il have read this letter i'm order t.
show You that where State can gam
an advantage from the incorporation Of
these great aggregations of wealth, it is
not safe to place the people of other
States at the tender mercics of the people
of such State as may desire to secure
its running expenses from the taxation
Of corporations organized to prey upon
people outside.
Il ann ready to adopt any method for
the humiliation of trusts. One that
suggest is this:
THAT Congress should pass law pro
viding that no corporation organized IN
..t.1 IL Ia, ~
the State in which it is organized, until
it receives from it power created by
Congress, authorizing it to do business
outside of its own State. Now l. tn.
corporation must come to this body Great
ed by Congress to secure permission 10
do business outside the State then talt
license cam be granted upon conditions
which Will in the first place, prevent
the watering of stocks; in the second
place, prevent monopoly in any branch of
business and third, provide for publicity
as to all of the transactions and buslEe IS
of the corporation.
If this is unconstitutional and SO de-
clared by the Supreme Court, | am II
favor of AN amendment to the C0nStl
tuition that will give to Congress power
to destroy every trust in the country In
my judgment, when YOU take from Pre-
noply the power to issue watered stoch
you viii go more than half the way to-
ward destroying monopoly in the United
States.
"Yon can provide for publicity aud
that annually or at other times the cor
porations shall make returns Of its BUSH
ness or its earnings, and that viii go
a t1uIf fii1
of the principle of monopoly.
but | ann not willing to stop there,
and therefore. as a third condition,
suggest that no license shall be granted
until the corporation shows that it has
not had a monopoly and is not attempt
ing monopoly of any branch of indus
try or any article of merchandise, and
then provide that if the law is violated
the license can be revoked. | do not
believe i'm the Government giving priv
ileges to be exercised by corporation
without reserving the right to withdraw
them when those privileges become hurt
full to the people.
"AIy contention has been that we have
been placing the dollar above the man,
that we have been picking out faforltes
in Government that we have been be-
slowing upon them special privileges ana
every advantage we have given theM
lras been given them to the detrlmcnt OF
other people. My contention is that there
us vicious principle running through
the various policies which we have been
pursuing that in cur taxation we nave
been imposing upon the great struggling
masses, the burdens Of Government.
while we have been voting the pl1Yil-
eyes TO the people who do not pay their
share of expenses to the Government.
Every unjust tax law rs an indirect
form of larceny. the speaker asserted.
an income tax, he believed, would rem
edy another great evil.
Il have no fear that any man by his
OWN brain or his own muscle VIII De
able to secure a fortune so great as to
be menace to the welfare of his fell
lowmen.
when Goa made man. he placed a
limit to his existence, so that if he was
a bad man he could not do harm long,
Int when we made our mnnmade man,
tthe corporation), we raised the Emit OF
his age.
I'VE did not give him soul and II ne
can avoid punishment i'm this world, ne
need not worry about the hereafter.
Il want to protest against tins doe
trne that the trust is Il natural out
growth of natural laws. 1t is not True.
The trust is the natural outgrowtn CT
unnatural conditions created by man
made laws.
Government under the four great
principles OF the Declaration of Indepcnd-
ence is impossible under an industrial
aristocracy.
Some people have tried to separate The
laboring man who works in the factory
from the laboring man who works ON
the farm. / want to warm the laboring
men in the factories that they cannot
separate themselves from those who toll
ON the farm without inviting their own
destruction. / warn the laboring men III
the factories that when they join with
the monopoies to crush the farmer, rs
soon ais the farmer is crushed, the labor
ing man win be crushed, and his ally
will be destroyed, and in Il test of en-
dlmance, the farmer will stand it longer
than the laboring man. The farmer
was the first man ON the scene when
civilization began, and he will be the
last one to disappear. You may drive
the farmer down, so he cannot buy coal,
1. L. Il1If " Al