New-York tribune., 1900-05-16
DEMOCR1TIC REFORMS.

Two Democratic leaders. Mr.. Coler, of this
city. and Mr.. Jones, of Arkansas. have con-
cuded that the chief aim of the Democratic
party this wear must be to deal with trusts"
Mr. Jones says in his sweetly reasonable way
that the people have got to get back into con-
troll of this country" They are presumably not
in control so long their State governments
which they directly manage are allowed to Gre
ate corporations not supervised by the National
Government Such supervision az the Con
troller of the Currency has over National banks
would be the right thing, Mr.. Jones considers,
would cause the trust problem to work out
its own solution" and would put an end to TO
per cent of evils In all business Mr.. Jones
is much more interested in this than in silver
''imperialiSm, or any other plank in the Demo
''cratlc platform" Such control of corporations.
in his opinion, would apparently be enough to
bring in the millennium which neither Republi-
can nor Democratic Presidents or Congresses
have been strong enough To bring in. If it is ali
so simple. the wonder is that the whole people
have so long overlooked their need of this nil
lennium brnger
Mr.. COler has shown that he knows more
than most people about the functions and pow
ers of a Controller or financial supervisor. Per
haps for that reason he uses fewer superatives
in describing the change proposed. But If gov
individuals to obtain for investment the money
'of the masses, it should protect them" he main
tains, and ''the whole question Of the use and
abuse of power by trusts could be settled i'll
''short order by the adoption of just and prac-
''tical system of government inspection and
regulation" Exactly how he does not state
But he would make 1t impossible for dishonest
Officials to manipulate the business and prop
''erty of such corporations for the benefit of the
favored few and the robbery of the public
Supervisors have not made ii impossible with
the banks or other corporations which are al
ready subject to supervision. What mysterious
and wonder working power would Federal
supervisor OF corporations created by the States
possess over those corporations which a Con
troer of Banks created by the General Govern
ment does not possess:
These Democratic statesmen seem to have
fallen upon and picked up some chips thrown
off where Republicans We're trying to hew out a
trust regulating plan They have mistaken the
chips for the timber. Regulation and super
vision Of corporations created by the various
States will hardly be effective in the hands OF
the National Government until the Constitution
has been changed. The attempt to control or
regulate one function another of State cor
poration because ii concerns Interstate COM
merce has not been found so satisfactory in
practice that 1t would be accounted by
anybody safe and sufficient for millennium bring.
ing II will be found easy TO plaster the whole
land over with lawsuits. bringing the curse of
their uncertainty and delay upon all sorts of
business. without helping it in the least But
this is not the sort of work to which Messrs
Coler and Jones presumably wish TO turn their
hands
When the people of the States desire to turn
over to the National Government full and ex-
elusive power TO deal with industrial combina-
tons they certainly win not leave that purpose
TO be forced out OF some doubtful phrase In n