The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-10-18

the handling CT capital and wealth it takes
the form of banking systems. In the aggre-
cation OF industrial pursuits IT. takes the
form Of Industrial combinations 50 much
CT which you have seen within the last
few years. And what has been the result?
/ deay upon the one hand that IL has in
jured the public by placing any additional
burden upon IL or that IL has In any wise
lcsscned or defrauded labor of any Of its
rights. And If the communicable public
has not been injured and II labor has not
lest any of its rights. IL the consumer has
not been made to pay more, certainly sucn
combinations have done no evil on the one
hand. but have been the source OF positive
good on the other; because in the aggre-
cation of interests under a common man
agement with a common policy the great
industries OF this country have advanced
within the last few years to a point never
heretofore known I'm the history or the
country. IApplause.l
II cite you as an illustratiOn-not a new
one-the fact of the consolidation OF rail-
roads as illustrative of the point j wish
TO make Fifty years g there were IN
this country a great many small raiiroac
lines under many different management
with many different policies. All had their
own systems of transferring freight. There
was a difference as TO the guage. there was
a difference as to the rate charged, so tnat
To ship freight a thousand miles many
transfers were necessary because OF the
inequality of the railroad guage-to tpe
loss OF the shipper. TO the additional ex-
penSe to him, to the delay and the annoy
ance of the purchaser
THE RAILROAD TRUST.
what was the result? A spirit of con-
~soIidation or the organizing of a railroad
trust. as Mr.. Bryan would call II. set in.
Small railway lines were merged into large
ones. broader policies were adopted, one
management succeeded many. uniformity
Of gauge was established and the result
was that instead of many changes to ship
freight a thousand miles freight could be
shipped without change from the Atlantic
to the Pacific seaboard at a lower cost to
the shipper. at a reduced price TO the pur-
chaser and a correspondingly reduced price
10 the consumer or the article shipped.
What was the effect upon labor? The e.
feet upon labor was that with the cheap
ened, better transportation facilities more
freight was shipped. and, consequently.
more men were necessary TO be employed
In the shipping of that freight. And IL the
Illustration as to railroads holds good, IL
holds good as to Industrial combinations
which are properly formed and are brought
together for the purpose of establishing a
common control will a common purpose of
charging the output, increasing the use OF
the article and thereby necessitating the
employment of more labor. IApplausa1
IF It were not for great aggregations of
capital this country would not be able. as
It is to-day. to supply the world with the
ldIu1dCtuTeu dTtlClcS Ol <AiUcTlCdu lldhc
What does this great item of exports over
our imports mean? 1t means that here now
in the Industrial world are -aggregations of
capital sufficient to successfully compete
with the large capital employed abroad,
with the ~cheapened price of labor abroad.
and what does hat mean TO labor? 1t
means that America-the United States, if
You p~lease-is now manufacturing for the
world, that the laboring man is in the
United States making the MANUFACTURED
products of the world, and a result. through
aggregation of capital properly made, le-
gally controlled, We see steadier employ
ment of labor, less friction between en-
pioyer and employe, a cheapened article OF
produce and a system inaugurated which,
from time TO time, as IL Is more perfected,
will make the relation between the laborer
and the employer closer, better understood,
than during a period when there were many
small plants, many small employers of la
borers, many different policies, many people
TO deal with upon the questions at issue
between labor and capital. instead of one
employer of man. laborers, handling a
large amount of capital. The laboring man,
wherever there has been large capital en-
ployed, has, / venture the assertion, found
steadier employment at steadier wages thar
he has with small institutions where little
capital has been employed and where the
volume of business is small, because il is
in the enlarged business which continually
must come to a large institution that, nc
matter what the falling off may De in GER
tain directions, still leave remaining a suf-
ficient amount of labor to employ many
men in that industry, but in the
smaller manufacturing institutions, where
business falls of to a very small per cent
IT. any particular line, that business mus
the different branches are in active worl
and all the men can be employed.
EMPLOYMENT OF LABOR.
within the two years last past among
these combinations have not on an averag,
the laborers been more steadily employed
received better wages, had less difficult,
with employers than during the period be
fore combinations of capital were formed
where each individual industry was striv
ing for business without regard to a gen
eral policy or without incorporation int
its management a proper understanding o.
the important relations which capital bear.
to labor and labor bears to capital The
laboring man above all others will fint
| his good In understanding that the inter
ests OF the employer are his interests, anC
the employer will find his welfare i'm know
ing that the advancement of the laborer Is
his advancement. IGreat applause.l Ther'
Is no truth in the doctrine taught by Mr.
| Bryan that there is an ~irreconcilable con
fiict between labor and capital. The in
terests of labor and capital. for the sue
cess of both, must be upon a common lin,
ana not uDOn diverse ones. Inc Interest,"
of the laborer are best protected by tn,
intelligent. thoughtful laboring man, who
whether 1t be in the association Of labor o.
out OF it. looks to the interests of laboI
from the standpoint of both capital an,
labor and not from the standpoint of as
sisting some political organization. [Grea
~applause.]
Let not the laborer. let not the EN-
ployer rely upon that which In the Frencl
revolution was termed the allpowerfulnes.
of the law in dealing between themselves
but rather let them rely upon q mutua
understanding of the mutual relation.
based upon honest. fair dealings between
man and man-and the candidacy of sucl
a man as Mr.. Bryan will not more appea
to the man who earns his living by tn,
sweat of his brow than 1t does 10 the stu
dent Of political economy or the bushes:
man who through his experience as a bust
ness man and his knowledge as a studen
OF economic questions comes to the conclu
sion that all that Mr.. Bryan advocate,
upon economic questions is fallacious, un
sound and unstable" Applause.
Mr.. Eckels devoted considerable time {,
\ an axnnSifion of the danOarc Of The lli