The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1900-06-02

ton by railroads has aided the trusts. No
question about it. If one man can secure
from railroads better rates than another
man, he will be able to run the other man
out of business But even if we prevented
such discrimination by placing every pro
Queer upon the same footing and absolute
ly preventing favoritism, monopoly might
still exist.
THE REMEDY.
The remedy must 90 further. 1t must
be complete enough to prevent the organ
ization of a monopol y.
| think men differ more as to the rene
dy thar they do as to their opinion of the
trusts. | venture the opinion that few
people will defend monopoly as a princi-
pie or a trust organization as a good thing,
but there are great differences of opinion
as to the remedy.
We have a dual form of government
State government and Federal govern
ment. This dual form of government has
advantages which can hardly be overesti-
mated, vet it also has its disadvantages.
When YOU prosecute a trust in the United
States Court it hides behind State sover-
eighty, and when you prosecute 1t IN the
State Court it rushes to seek Federal Juris-
diction-and we have some difficulty in
finding prison for 1t,
TWO WAYS OF DOING 1T.
Every State has, or should have, the
right to create any private corporation
which, in the judgment of the people OF
the State, is conducive to the welfare OF
its people. The people of a State are abs
always to settle question which concerns
them alone If they create a corporation,
and it becomes destructive of their best
interests, they have power to destroy that
corporation; but if the corporation which
Expresses them Is a foreign corporation,
created in another State. they cannot de
stroy it. They should have power to eX-
clude it. In other words, the people Of a
State should have not only n right
TO create the corporations they want, but
they should be permitted to protect them
selves against any outside corporation.
But | do not think this Is sufficient |
believe in addition to a State remedy there
must be Federal remedy, and | believe
Congress has. or should have, the power
to place restrictions and limitations, even
to the point Of prohibition, upon any cor
poration organized in any State that wants
10 do business outside of the State
Il Il. n, -
Safe can rely upon the people of another
State in the management of corporations.
New jersey has 4 law favorable 70 trusts.
1t Is not safe to place the people OF other
States at the tender mereies of the people
Of such State as may desire to collect it,
running expenses from the taxation Of cor
porations organized t. prey upon people
outside
Here Is one remedy Congress should
pass law providing that no corporation
organized in any State should do busiues,
outside of the State of its origin until 1t
receives from an authority created by Con
gress a license authorizing ii 10 do cuisines,
Such license can be granted upon c'ndi-
lions which win, in the Grsi place prevent
the watering of stock in the second place
prevent monopoly 10 any branch Of bust
ness; and, third, provide for publ'rity as
to all Of the transactions aud bushes, ct
the corporation.
II such law Is unconstitutional am
10 favor Of an amendment to the Coustiiu
ton that viii give Congress power e. lie.
stroy every trust in the country.
STOCK WATERING,
do not believe that any State should
permit the organization Of corporation
with single drop Of water in the stock #
that corporation. The farmer cannu. in
fate the value Of his land By watering the
value Of that land. The merchant in the
store cannot initiate the value oG the goods
upon his shelves Why should the cor
poration be permitted to put out stock that
represents no real value,
If the license system we're once estab-
lished by Congress the law could from year
to year impose such new conditions a might
be necessary for the protection Of the pub
lie from the greed and avarioe Of great a.
gregatious Of wealth do no; 90 - far
a. some DO and believe that there should
be no private corporations; bat say that
a corporation Is created by law, that !, i
created for the public good, aud that il
any corporation enjoys privileges today
which are hurtful to the public those prs
ileses ought to be Withdrawn from il