The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-02-21

thrift. Mr.. Bryan 5 talk Tor an income
tax I fear, is intended for those who
never have, and who never expect to
save any of their earnings. If he can
play upon their prejudices and passion,
his object will have been accomplished,
no matter if an income tax be impr&c-
tical in fact, and aHrong in principle.
Taxation should he on property and
not on income. If have the same kind
of property, and of equal value as my
neighbor and by care manage mine bet
ter than he does his, should have my
reward. That is placing a premium on
thrift and an embargo on ShiftleSsnesS-
Every legitimate thing that encourages
a man to acquire should be done; Moth
ing is more conducive TO virtue, moth
ing so tends to make man a better citi-
zen than to form the habit of spending
less than he makes.4 For unto him that
hath shall be given, and from him that
hath not, even that which he hath shall
be taken" This is the law of commerce.
The best financial lesson that was ever
given to man is the parable of the tall
ents; it is far more true than the Chi
cago platform or anything Bryan has
ever said on the income tax or the fin
ancial question. 1t is not exalting the
dollar above the man to oppose an in
come tax. The Republican party has
ever been the friend of the laboring
man, and the friend of all men: it
stands for men. It has protected labor
in it's wages, it would encourage labor
to save, ard it has protected the saw
1n2S as IL mas protected the wages. II
Bryan, who pretends to be the cham
pion of labor, would lend his eloquent
tongue in counSelling the laboring men
to form the habit of while yet young,
when only the habit can be formed, of
spending less money than he makes, he
would servesthe cause of labor far bet
ter than in teaching the false doctrine
that capital is its enemy. It matters
not whether you have one talent, ten
talents or a hundred talents, the habit
of saving will give you a competency;
but you may have a thousand talents,
you may be a Napoleon in finance, but
spendthrift habits WILL eventually, bring
you your Waterloo. But the habit of
saving does more than give a compe-
tency, it builds character, it makes a
man.
''Mr. Bryan charges that the Republi-
can party is fostering trusts. 1 would
ask what has he or his party ever done
against trust? What did the Democrat
ic party do when in power to break up
the trusts? What measure did Bryan
propose or advocate when he was in
congress against trusts? He tells US
now what should be DONE 1 answer
what did he do or attempt to do when
he was in position to act. Trusts were
organized several years ago in this
country; they were regarded as dan
gerouS and legislation was begun
against them. The first antitrust law
was enacted by the Kansas legislature
in 1889 I framed and presented the bill:
nigh unanimously Republican. Shortly
thereafter many other states, and con-
greSS as well, passed similar laws. Con-
greSS was Republican when the anti
trust bill was passed. If it was not
sufficient Bryan ought to have had it
amended while he was in congress
Prosecutions were begun under these
laws and it drove the trusts to change
their organiza tions from trusts to sin
gle corporations so that now, what are
commonly called trusts are in fact, pri-
Nate corporations bryan says that all
trusts are bad That is equivalent to
saying that all corporations are bad I
do not believe him. I believe there are
bad corporations as there are bad men
and that there are good corporations as
there are good men. believe that there
are many corporations that are pursu-
ing their respective business legitimate
ly to the benefit of their owners and
the public with whom they deal. I be-
lieve also that there are many bad cor
pOratiOnS which seek to restrain trade.
break down competition, advance prices
beyond a legitimate profit in order to
swell dividends on water stock. The
good corporations I would encourage,
the bad corporations 1 would control or
| destroy. Mr.. Bryan is like the bear who
saw a fly on the baby's nose and struck
| with all the might of his great arm to
| destroy the fly. He killed the fly and
the baby, too. No rational man would
destroy all corporations. 1t is only by
combinations of capital into corpora
| tions that many enterprises can be
| carried forward. Destroy all corpora
| tionS and many of our enterprises
would be reduced to peanut business.
Bryan points to the fact that many cor
| porations have been organized since
Mckinley was president; and that their
growth was not so great under
a Democratic administration. That
| is true. Corporations did not
! grow under a Democratic administra-
| tion neither did anything else. Corpo-
| ratiOnS as well as all enterprises suf-
| fered alike at that time. 1t is also true
that many great corporations have
| been organized under this administra-
| ton This is true for two reasons; first
! the trust have said, reorganized into
! private corporations and many new cor
| porations of great magnitude have been
| organized to promote new industries.
! The times were prosperous, confidence
had been restored, money that had been
| in hiding four or five years sought in
/ vestment, stocks sold readily and the
| promoter who is frequently a gambler
/ took advantage of the prosperous times
| and organized many gigantic corpora
tions from which many evils have re-
suited. Many of these corporations
| have been Overstocked; the investors
/ have paid too much forthe stock; eff
! forts have been made to earn dividends
! on watered stocks, ana in some in
stances prices have been unduly ad-
vanced Just here I hope Bryan will
/
calling attention to the fact that the
battle cry of his party in 1898 was that
the country had been suffering from
| continual fall of prices since the
| crime of 1873. and now we are met with
the claim that prices are too high. But
| the question is, What shall be done to
| eradicate the evils that cluster about
these giant corporations? The combi-
| nations of capital have been one of the
| rnarvels of this marvellous age. What
| their ultimate effect on mankind will
be is a serious problem that is now
engaging the best thought of this and
! other countries.
Every reason argued against an in
| QUESTION into the private affairs of the
individual such as an income tax would
make applies just the other way re-
! specting corporations The corporation
has no natural rights. It is a creature
of law; it has special privileges; it per-
nnits combinations of capital. It's every
act should be done in the broad light OF