The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-15

! ignoring these things. We cannot be hon
est to the people, either a this conference
! or in our legislative assemblies, by con-
! filming our deliberations 10 the commercial
advantages and disadvantages of the
| trust
ut is better to be forever poor, but in
! dependent and happy as individuals, than
| to lay the foundations for industrial tyr
| amy and slavery.
| I'VE have given the private corporation
TOO much rope Some say give it more
rope and it will hang itself. In other
words, they claim that the trust problem
| if left alone, will work out its own solu-
| ton.
Says They Have Come to Stay.
! Ex-Gov. Foster of Ohio was the next
| speaker. Among other things he said
"Denounce trust as we may. they
! have come 10 stay. Why? Because the
! gigantic business operations of the present
and future cannot be carried on without
| them. Through the trust the enormous
waste that is eutailed upon business OPP
| erations by competition is saved. The
| product and the service performed
| is cheapened. Labor will have the better
| opportunity to enhance wages and shorten
the hours of toll as is so signally illus
| trated In the railroad service of the coun-
| try.
when the trusts shall have been prop
| erly safeguarded by law their securities
| will furnish a means of safe investment
at a somewhat higher rate of interest than
will be paid by government, state or mu-
nicipal bonds, thus affording an oppor-
tunity for investment by people of moder-
ate means
"a bureau of government or a board,
| similar to the Interstate Commerce Conn
mission. should be established, to whom
all trusts shall apply for license after be-
| ing incorporated and to whom reports as
| required of national banks should be made.
| The terms of the license should provide
| against oVer-cap itaiization.
"All profits beyond per cent. should
be taxed for the benefit of the govern
ment 1t seems to me that it is the duty
of this conference to request Congress
TO submit amendments TO the constitu-
| ton giving 1t the necessary power to
! control the trusts and to tax their prohts.
Committee on Resolutions.
When Gov. Foster concluded COM
mittee on resolutions was announced.
Among the members are:
Florida DR.. John f. Forbes; National
| Grange, p, of H., S. H. Ellis, Ohio; Hi
nois Commercial News Association, Sam
uel b. Donnelly; American Fed
Grafton of Labor, Samuel Gompers;
National Alliance Theatrical Stage EN-
| DlONPS. VI.
| Workers. Henry White; National Asso-
| citation of Manufacturers, Theodore
| Search; National Grain Growers Assocla-
! ton. S. IL Greedy; National Farmers AL
| lance and Industrial Union, John Hill,
| Jr; Travellers Protective Association OF
| America, NJ. w. Phalen; Knights of La
! Dor. J. G. Schonfarber; National Single
| Tax League. Louis F. Post; Brlcklayers'
International Union, M. r. Grady Assoc
| citation of Western Manufacturers, Walter
| Fieldhouse; United States Agricultural De-
partment. Washington, d. c., Prof. H. +.
| Newcomb; Delaware Henry Alloway
The next speaker after ex-Secretary
| Foster was Attorney General Davis OF Ar
The Next Toast.
When Mr.. Davis concluded, the audi
| ence was in a state of agitation, which
made it thoroughly enjoy slip of the
| chairman. who announced that tine next
| toast"-and was overwhelmed by the
| laughter which ensued. He finally found
| opportunity to introduce Prof. George
| Gunton of New York, who said:
1.-THE trust question is only new phase
of the old problem of free industrial en-
| terprise. Every improvement in indus
| trv since Hargreaves' spinning jenny has
| had to fight its way against popular
prejudice The hand loom weavers march
| ed through England and broke the new
|
| their homes. To-day, century later we
are face to face with another movement
| of the same character, the antitrust agi-
| tators About the same reasons are gwen
| against trusts and large corporations as
we're given for breaking up the first spin
ming frames and power looms. The move
| nnent is taking political form. and men OF
national repute, party leaders, are asking
| the people to abandon the policy of indus
| trial freedom and arbitrarily suppress
large corporations. Are the American
people ready for such a step?
| what IS the situation? Within the last
few decades @ radical change has taken
place in the whole character OF produc-
| tive industry. The progress of invention
| and use of machinery made small enter
prises impossible, and compelled the for
mation of large corporations. A little later
| associations of corpora lions and corners,
| TO fix prices, were attempted. These prov
ed uneconomic, and failed, usually wreck
| ing those concerned In the schemes Then
came the trust, which was an effort per-
manently to integrate productive force.
These were bona fide enterprises, merely
an enlargement and extension Of the cor
poration idea. There have really been
but very few of these consplcuously the
| Of. and sugar trusts. Recently all these
| so-cailed trusts have disbanded and been
| reoroa nizas5 into sinanla ataak nnrnora tionsA