The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1899-09-16
Washburn on Trusts.

Washburn on Trusts.
New York, Sept. 1O.-The Tribune viii
publish tomorrow the following inter-
view with ex-United States Senator Will
lam D. Weshburn of Minnesota, head oi
the extensive Touring interests in Mime
apolis:
''The present situation, to the good citi
zen, the good Republican ana the man
who loves his country, is really alarming
aid it is largely owing to the rapid for
nation of what is called the trust than
to any other Il agency. First, this trust
craze has changed ,he;whole nature of do
ing things.
when was young mani am nov
sixty -eight-I had the world before me,
and there WAS an absolutely fair field for
me. Take all of our most successful
business men Of today and their expert
ences were like mine. They entered h
race without a handicap and their grit
and capacity won.
Now, this building up of trusts puts a
stop to fair and equal opportunities for
the young men of to-day. The young
man just of college has no opening, as a
rule. He cannot begin business on his
own account against organized capital.
He must join the procession. He must
content himself with being mere clerk,
and the chances are that he will never get
any further because there are so many in
his class This makes the situation
serious one, and am sorry for the young
man Of to-day. have studied the situa-
zion aud am sure Of what am saying.
The present industrial tendency amounts
to almost craze for trusts.
There ia hardly anything IN the indust-
rial line that has not been tackled by the
promoters of ths trusts All the promot-
ers care for is to get up their combina-
tiohs palm them off on an unltitiated
public and then get out of them after
making all the money they can. The worst
feature Of the industrial trust of o-day ii
that nearly every one of them to-day is
vastly over capitalized.
'Tust at the present there ia a demand
for every conceivable thing and times are
elastic and money is plenty. Everything
ia floating along prosperously. When the
collapse comes, as come it will, it will
sweep all these naturally nonpaying con.
Germs to financial ruin. With a large BAL
ance of trade in our favor, prosperity
should continue for long time. This
prosperity has resulted in imitation and
the issuing of million of shares on wind
Admlts his agitation.
"rhere is one thing that greatly disturbs
me. The Republican party, whether just
" or unjustly, is associated with trusts in
the minds of the masses. As a party We
have reached a crisis, where We have got
to call halt. The Republican party has
got to disconect itself from trusts. 1t has
got to do something more than adop! plat
form planks against trusts. 1t has got to
put forth it's full strength and iegi-late
against them. The feeling against the
t rust idea is intense in the West. It is 80
intense in the Republican party that the
party will break ranks unless something
is done.
The undertow of sentiment in the
Western Republican states against indus
trial trusts is not understood in the East.
The revolt may strike us as early as next
year. 1t seems to after giving this thing
a great deal Of talk that the Republican,.
in congress will have to examine the sub
ject tho roughly, and whenever they find
trust is depending for it's exorbjtaut profits
largely ON protective duties it will be the
duty of the republican congressmen and
senators to remove the duties at once.
We cannot stop sho rt of that. The
duties mnst be replaced when it is shown
the trust are benedting by them. This
should he done with the duty on steel rails
an d ON tin plate. We CAN make steel rails
at fair profit cheaper than ary where else
in the world than the present price is out
The Republican party may win
at the polls in 1900 because uf the remark.
able achievements of our army and navy
In the last two years, but legislation
against trusts should noe bs delayed on
that account:
The turning of this eouutry's affairs
over to such man as Bryan would be the
worst thing that could happen. No one
oou'd measure the consequence if Bryan
and his freinds once got chance to try
out their harerbranded experiments. II
We do not set ourselves in order the people
will take the control of the, nation away
from the Republicans. The Republican