New Iberia enterprise. (New Iberia, La.) 1885-1902, 1899-07-08
BRYAN GIVES VIGOROUS ANSWERS TO
HAVEMEYER'S DEFENCE or TRUSTS.

From communication to the N Y.
Journal by VIM. !. Bryan, in answer to
the defense of trusts by the head of the
great sugar trust, we make the following
extracts
"Mr. Havemeyer testimony before the
Industrial Commission has excited much
comment, due in part to his prominence
in business and financial circles, in part
to the fact that he is himself at the head
aeatg a greas sayt ytrast sn9 in ga!t ta the arga.
that the tariff is the mother of the trusts
The same thing has been said n great
many times before by great many peo-
pie, but the reading public is just now
engaged in considering the subject of
trusts, and such statement at this time
from such man challenges attention.
Mr. Havemeyer's broad defence of trust
principles is deserving of as much atten-
tion as his condemnation of high tariff.
After pointing out the advantage which
the trusts derive from high tariff laws he
warns the public against antitrust legis-
lation. He says: "Prestige, ability,
experience and wealth win in the long
rum and trusts are an example OF the
survival of the ittest in business" He
argues that trusts exist because they de-
serve to exist. and he seems to consider
wealth entitled to all that it can secure
no matter what the means employed
The 'let alone policy now advocated by
trust magnates has always been popular
with the strong. The giant does not need
any protection from the dwarf, and natu
Dally resents the interference of govern
ment when law is passed prohibiting
larceny, assault or murder.
SO some of the great corporations to-day
resent any attempt upon the part of the
Government to protect smaller corpora
tions and private individuals from trust
methods. but the physical giant has more
right to complain of interference than the
corporations, because the giant is under
no obligation to the dwarf for superior
strength, while the corporation derives it's
privileges, its power and even its very
existence from laws passed by the people.
The corporation is a creature of the
Government, and under Government like
ours we must assume the corporation was
created for public good. If a corporation
so uses its privileges as TO become a
menace to the general welfare, those
privileges must be withdrawn or restric
tions must be added which will prevent
abuse.
The trusts have brought the country
face to face with question of great i'm
ortance-namely, whether the industrial
system shall rest upon competition or
monopoly. We cannot permit few of
our industries to combine nnless we are
willing to allow all to combine. In other
words, now that the question is raised.
the Government must either protect com
petition in all departments Of private in
dustry, or it must permit tho trust to
overthrow competition everywhere
Self preservation is the first law of
society rs well as the first law of
physical existence. A monopoly tends
toward industrial aristocracy it tends to
create a condition wherein few will con
troll all means of production, and transmit
that control from generation to generation
while the masses struggle for a bare living,
with no hope Of progress or independence.
The influence of concentrated wealth is
so great in the social and political world
that government of the people. by the
people and for the people cannot long sur
vive ifindustrial independence disappears.
When the monopoly idea is carried
to its natural and logical conclusion we
will have a government OF the trusts. by
the trusts, for the trusts, with the large
majority of the people more helpless than
they are under an absolute monarchy.
Mr.. Havemeyer says: Legislation
against corporations, il followed to its
legitimate results, would make the country
less powerful, its people less prosperous
and would destroy the influence which
comes from the richness Of the land aud
its people"
II by Legislation against corporations, =
he means legislation against trusts, he is
in error. The wonderful growth of this
country and the development of its natu
raj resources have gone on until recently
without the aid of trusts. The watering
of stock. the bankruptcy of rivals and the
absolute control OF the price of the pro-
duct, of raw material and OF the rate of
wages-these things are not necessary to
business success, nor are they essential
to the proper development Of a conntry.
On the contrary. the greatest develop
ment, the most rapid progress and the
largest total accumulation OF wealth can
be expected from system which infuses