Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-08-02
HE SPOKE ON TRUSTS
Address by Principal of Harvard
School, Chicago.
A STUDENT OF THE QUESTION.
Result of Careful Study and observa-
ton of an Important Subject, Re-
lated to the Teachers of Wapello
County.

From Tuesdays Daily.
Prof. William Radebaugh, principal
of Harvard school, Chicago, and one
of the instructors of the Wapello Coun-
ty Institute, delivered lecture be-
fore the latter body yesterday after
noon on the subject of Trusts" The
theme just at present is one of para
mount Importance, and while not in
tended to be political in it's scope yet
it bids fair to be an. issue in the COM
ing presidential campaign.
Prof. Radebaugh attended the recent
trust conference in Chicago and imbib-
ed many of the ideas there put forth.
He did not speak from experience,
but rather as student of the question
and stated the scientific and economic
principles which have led up to the
present social and economical condi-
tons known as trusts and unions. On
this subject Prof. Radebaugh said in
part as follows;
To-day Russia, Austria, Germany,
France, England and the United States
are confronted with practically the
same economical conditions, condi-
tons which have led to trusts and I'M
ions. With such conditions prevail
ing almost universally, it is fair to as
sumo that they are the result of forces
which have been operating for some
time in the economic world.
History shows that when society
gets enough surplus accumulated, COM
merce begins, with commerce, cities
arise which become centers of trade.
Here attentions turn from production
of raw material to the finished pro-
duct. To control these products men
have always done SO by the formation
control the process and product, then
political power always follows; or even
given the control of the process by
which thing is produced then soon fol
lows the recognition of political work.
Parenthetically allow me to remark
that as soon as the negro of the south
can reach such degree of skill as
to be able to compete with the skilled
workmen of the north he will then be
in fair way toward his political
emancipation. Of course there are
prejudices to overcome, but time, the
great leveler of all things, will soon
eliminate that. nene
IF philosophy, politics, poetry, sci
ence and religion are tending to the
recognition of the principle Of the one
in the many, why should economics
be an exception? Today we are be-
coming conscious Of the transition
from the individualistic to the COM
munistic and social economics. Thus
the problems in economics find their
counterparts in politics, religion, etc.
AS politics, science, religion, etc., are
the development of germs which have
found their roots in the distant past,
so is our economic condition.
Our age is economic rather than
aesthetic, scientific rather than phil.
osophic, moral rather than religious
Aesthetics, philosophy and religion
presuppose some transcendent prin-
siple of being. Economics, science
and morals assume the principle of
substitution.
with the commercialism of steam,
electricity and other scientific discov-
cries attention has been shifted from
the raw material to the finished pro-
euct. To carry on and meet the in
creasing demand of modern inventions
vast resources are required.
Failures of men who have gone into
business and competition or other ell
ements have contributed to our pres
eht economic condition. So long as the
center of interest was on crushing out
the rivals, production went on without
due regard as to how it would function
in society and as result we had over.
production. With overproduction
there arises the necessity with doing
one or both of two things. First, to
stimulate the greater use of the given
product so as to use up the surplus,
or second, to regulate the supply.
What we shall need in the solution
of this problem will be intelligent and
wise leaders who can face the situa.
ton boldly and wisely and thereby
help us to readjust ourselves to the
new order of things with the least pos
sible friction. Today we need the wise
physician in politics, not the cure-all
in the person of the demagogue. That
there are abuses by capital no one will
deny. These must be done away with
The three principle forms thru which
abuses are righted are first, political
control expressed in legislative enact.
ments; second, new inventions, and
third, for lack of better term / shall
call public support or the law OF sup
ply and demand.
LET us be students of the times, not
dupes Cor the demagogues to play
with. When we meet with crisis let
us remember that there is no growth
of intellect except when our activities
are checked. If there were no breaks
in our activities we should need no in.
tellects. The training which will en-.
able aaman to adapt himself to the new
order of things into which he is con.
stantly being thrown is of the most
worth. The man vho persists in the
old ways of doing things is forced to
drop by the wayside whether he be in
the school room or the store; whether
he Yields the scalpel or manipulate.
the markets of the world.
Let us face the problem with intel.
ligence mingled with hope. Let us
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