Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-06-15
PLEA FOR TRUSTS.


cent.
Il repeat that all this agitation
against trusts is against merely the
business machinery employed to take
from the public what the government
in its tariff laws says it is proper and
suitable they should have 1t is the
government, through its tariff laws
which plumbers the people. and the
trusts, etc. arc merely the manchincrv
for doing il.
The statements made before the
committees in Congress ana the speech
cs against the Sugar Refining Co. are
absolutely devoid of truth--utterIy
unworthy Of credit. The intention Of
Congress, however, to enact something
into law contrary to what the sugar
refining industry property required. re-
suited Irrespective of the great indus
try ana injustice done in the passage
of the existing sugar schedule.
whether the Sugar Refining Co. has
been 4 benefit or injury to the com
munity can best be expressed in q table
showing the prices for considerable
period prior to the formation of the
trust and for a corresponding period
subsequent. The difference since it's
formation shows an advantage to the
Consumer-note that, consumer-of
over rs Of a cent per pound.
What the Sugar Refining Co. has
disburscd in dividends has been not
because Of an extreme protection under
the tariff, but one Of conditions perfect
ly legitimate and commendable. Their
record shows cunclusively that no ad-
vantage has ever been taken by the
company of any protection in excess of
the percent. claimed, i. e.: II cent per
pound, under the tariff.
"It is my opinion, that corporations
are under no obligations whatever to
any Of the states for their existence.
quite the reverse: the states are undr
obligations to them. If the plants of
these industries consolidated were capa-
BE Of being nut on wheels and moved
from state to state. you would find
very active bidding for them.
All | have To say about trade organ
izations ana strikes is that without vic
lencc their are natural They have an
objection, however, their tendency to
reduce all labor 10 a lower level.
business il not phtlantrophy Capt.
I'll anu l'ip'A w t+i eAAIAst AAi'iA W. As
lations if they are left alone. Inter
ference always operates against one or
the other. That means to the disad-
vantage of both.
In these days there are two forms.
ana only TWO forms Of monopoly:
pnc-that which results from patent
ana copyrights. 1t is universally rec
oguized that this is in the interest o.
not against the interest of the public.
The other. that which comes from UNI
fair tariff discrimination.
Tariff for revenue need not be con-
sidered The expense Of the govern
ment must. Of course. be provided for
Tariff for the purpose of cqualizing
against foreign houuties pr foreign dis
elimination does not need to bc JUST
fed Beyond that there is no excuse
for giving t. one industry q projections
Of 100 per cent. az against per cent
for another. or any more than 10 per
cent The result is that the govern
ment fceccs the community at large in
thc interest VI some favored industry.
at must be kept in mind that this is
q rich counry, not poor country. lt|
must be kept in mind that the object of
r
stronger. wcaIthinr. more Important
more influential The hostile action to
which | referred. legislation against
corporations. If followed to its legiu-
mate results, would make the country
less powerful, its people less prosper
Gus ana would destroy the influence
which comes from the richness Of the
land and its people.
ts.-. i in N @
ce-thc Industrious ana those VINO wish
to live On the industry If others. 1t is
they who are without capital and who
are hostile 10 it, This is only another
mode of stating thc obvious PROPOSE
ton that it is those who are without
means who wish to have it without
work"
Mr.. Havcmeyer then went on TO say
that what the company did it did not do
for motives Of philanthropy, that it had
its own shareholders To protect. "Any-
body can buy our stock" he continued,
and as a consequence the public owns
the stock But | doubt whether any
one would want any of the stock Of tht
independent rclineries."
lie stated as his opinion that the
Cuban sugar should be brought in free
III duty ana that this course would
brin., refined sugar down to cents
pound.
Speaking Of the coffee business Mr..
Havemcycr said hc was in tho business
ana in it to stay.
Mr. Havcmcycr at first declined to state
whether THE company was making money
1T present, saying that was the business
Of the company alone. but he afterwards
made nm incidental statement which the
commission construed into an admission
that the business was not now profitable.
The witness confessed that his company
had very little regard for the welfare If
the rivals i'll business. saying that pres
tigc. ability. experience ana wealth would
win in the long run in the struggle, ana
that trusts were An example # the sur-
yival Of tie fittcst i'll business.
THAT is trade he said, land the
sooner you realize ii ana quit trying t"
control it BY federal legislation, the better
for all A man cannot expect to have
himself continually wet-nurscd by the
government. If men do not want to buy
our stocks. they need not. They do not
need government protection"
He declared that the tariff enabled the
Steel Rail Trust to mulct the public %
thc extent VI So per ton. ana said incl
1-r+,Jl,- II Carpauia blI vat