The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-01-13
HOUSTON, SATURDAY, JAN. Is, 1s9D.
TEN PAGES TODAY.
Tnusrs MUST Bic coNrRoLLEp.

The Philadelphia Ledger points out the
Tact that trust literature is assuming
vast proportions"
So It is.
Volumes have been contributed on the
subject and the consensus OF economic
opinion is clearly that the continuation
Of the trust evil will destroy the pros
perity Of the masses In the strangulatlon
Of competition and the enslavement Of the
consumer. 1t is high time that the alb
stract be switched aside and the concrete
put in motion, Tho irst has been pro-
ylded by the college professor and the
economic writer's. The second must be
provided by states. acting in accord and
along an agreed line ii such thing be
possible, or by congress Of the United
States with craftsmanship and courage
enough to meet the demands OF the coun-
try for relief from these monsters OF power
and greed and TO lay them under the regu-
lation and control OF National Law.
The gravity Of tho trust situation. as
well as the difficulty attendant upon It's
correction. is ably presented in the sd
dress of Conyocation President Hadley
OF Yale to the Chicago University. Presi-
dent Hadley says:
We can no longer rely upon competition
TO protect the consumers against abuse when
industry has become so highly organized
that all production 10 centralized in the con
mol OF single body. II is no longer true
in the sense that II was atty years ago. that
each man may be left FREQ 10 manage his
OWE business and that the community will
ind its work best done as a consequence Of
such freedom.
What was once regarded as a game hat
now become trust, not merely in the super
hcinl and accidental sense in which the nam
trust is now applied to all large combina
tons OF capital, hat in q profoundcr sense-
as a trust exercised on behalf OF the public
which u is in the power OF those who contro
this capital to use we'll or Ill. at their pleas
ure. without adequate restraint from an,
quarter Where competition Is thus hecom
a remote contingency, and where law is al
most necessarily inadequate unless II be mad
so strict as to forbid the good no less tha
the evil Ia private business enterprise, ne'
system Of ethics is a matter OF vital neses
sty for tho American people--a system while
shall treat the director no longer ms an lndi
yidual pursuing private business OF his ow
and with the right to resent the suggestto
that he should conduct II unsclhshly, but a
having moral responsibility TO his storkhold
ers, to his working men, and 70 the consumer
that purchase his goods or his seryices
Until there is r fundamental reform in tn
CODE OF political ethics which the communt
imboscs upon It's members, public trusts vii
ones Nay, they are likely to be even les
adequately controlled because a public OF
teial holding his power as tool OF n rtne
and acknowledging no allegiance to standard
higher than those which have made his OIL
Fanizaton successful s. as rule, NOR
firmly entrenched In authority than the repre-
sentative Of any private corporation. howeys
extensive or powerful
It Is quito apparent that "a new syster
OF ethics Is matter OF vital nscesslt
for the American people" Such syster
Is not possible OF originatfon with
political organization that relies on tn
trusts for its perpetuaton in power. TIL
people look elsewhere for relief, As ind
Gated. States can hardly be relied on
evolve uniform legislation that will ade
quateiy restrict the trusts Congress seem
TO be the sole reasonable hope. 1t ca
withdraw the support OF the customs tart
from monopolies and through general law
bring all combines in restraint OF trad
under governmental control. II these gen
erai laws can not be enacted wlthov
amending the Federal constitution the
pave the way for such amendment