The record-union., 1899-09-21

Paul B. Moore, Private Secretary of
Governor Stephens of Missouri, was
chosen Secretary Of the conference.
Governor Sayers read q somewhat
lengthy address, setting forth his views
on the question of trusts, which was
frequently applauded.
Governor Sayers said regarding his
calling of the conference:
mo motive prompted my action
other than the desire to induce. if pos
sible, concert of action among such
Governors and Attorneys General Of all
the States as might attend, in an effort
to suppress an evil, which has become
gigantic in proportions and which, in
the opinion of a very large number of
good and patriotic citizens of the re-
public, threaten the most serious and
disastrous consequences to the coun-
try.
''It is true that in some sections mon
ey is plentiful, trade active, speculation
rife and that certain products have
largely and rapidly increased in selling
value. This prosperity, however, ls
born, in a great measure, of war, and
is largely attributable to the enormous
expenditures that have been and are
now being made by the general Govern
menL for special purposes and in par
ticular localities, and SO long as war
shall continue this unusual activity will
be maintained. Considering the situa-
ton conseryatively, impartially and
with the assistance Of an intelligent ex-
perience, it cannot be reasonably ex-
pected that the prosperity will long
survive the settlement of our foreign
difficulties and the restoration of peace.
Next to the war itself and the incl
dents directly connected with it, the
wonderful revolution that has occurred
in business life is calculated to arouse
the gravest anxiety in all thoughtful
minds. For the past quarter of a CEN
tury we have heard much of trust for
nation, and notes of alarm have sound
of the danger that threatened them i'll
that direction. But during the past two
years that which was previously but
a shadow on the horizon has become a
dark and portentous cloud, and on ev-
cry side and from every quarter are
heard warnings of imminent danger
that should no longer pass unheeded.
The speaker quoted from a writer
who enumerated some of the largest
trusts in order to illustrate the gravity
of the situation in this respect, and
then went on to say:
''These aggregations of capital in
such extraordinary and unprecedented
amounts, controlling as they do the
production, distribution and sale OF
commodities in universal use, all under
the management and direction Of few
persons. cannot but excite the gravest
apprehensions in the mind of every
thoughtful and patriotic citizen. The
power which such associations can and
do exert does not accord with the spirit
and policy of free institutions. The
possession of extensive authority, sup
plemented with the means of it's arbi-
trary and unrestricted exercise, is al
ways denied in every just and we'll
regulated Government. This principal
holds equally good in matters affecting
industrial and economic life, where
government has conceded privileges to
one or few individuals that are not en-
joyed by all. Every combination and
association of any magnitude in this
country under guise of a trust, almost
without exception owes its existence 20
a governmental grant of privilege, ex-
emption and power. In this form of
business activity the individual shields
himself under the protecting advantage
created by statute.
Were it not so trust formations
would be fewer in number, smaller in
magnitude and less dangerous to So
ciety. The fact that the trust almost
universally owes it's life to- the creative
power of public authority makes it the
imperative duty Of the Government to
protect the people against any abuse
or misuse of it's opportunities to the
detriment of the general welfare This
is, in my opinion, complete answer
to any objection that might be urged
against governmental interference to
restrain, and, if needs be, to entirely
destroy the trust power whenever it
shall become hurtful or perilous."
Governor Sayers declared that in
none of the generally accepted authori-
ties upon finance, commerce or me-
chanic and agricultural industry can
there be found a rational defense OF
the system that has SO suddenly and
SO firmly fixed its iron grasp upon the
material interests of the country The
gravity Of the situation. the speaker
declared, could not be overestimated
nor permitted to pass unchallenged by
those charged with important and re-
sponsible public duties. It was not the
time for evasion, nor was it a subject
worthy only of discussion. Action, care
full, thoughtful, intelligent and cour-
ageous action, he said, was the hour s
greatest need.
Constitutional obstacles lie in the
way and the evil cannot be eradicated
by either Federal or State authority
acting simply" the Governor contin-
ued. There must be cooperation be-
tween both governments, general and
local, each working earnestly and sin
| cerely within it's sphere"
In the speakers opinion both govern
ments may be rightly responsible for
the existence of trusts, and the SUBJ
ject was indisputably within the do
main of Federal legislation.
Governor Stephens followed Governor
Sayers In an address. in which he told
of what had been done in Missouri to
| fight the trusts.
Governor Stephens then caused some
what of a sensation among the Repub-
lican State officials present by denounc-
ing the national Administration and its
war policy and declaring that trusts
and Imperialism go hand in hand. II
! is limited strongly that the Repuhli-
cans attending the conference may re-
/ turn home tonight as the result of this