The evening times., 1900-02-19
TRUSTS BOLDLY FLAYBD
The Rev. r. Heber Newton De-
nounces Carnegie and Others.
The Standard Oil Company's Career
characterized as the Most Revolt
Ing i'm the World-Declaration That
MonOpOIistic Profits Are Tax.
4 Corporations Expected Gains.

NEW 1ORk, FeD. l9.-At the nfSI OF
the series of Conferences on Trusts,
which are to be held during the evenings
of this week at the Peoples Institute. in
Cooper Union, the Rev. DR.. r. Heber New
ton, in a paper read last evening, made an
attack upon the monopolies and trusts of
the present day, directing his remarks snore
particularly at the Carnegie Company and
the Standard Oil Company, which he Sc
lected as the best, or worst, examples Of
the power of accumulated capital. DR..
Newton took no very gloomy view of the
situation, however. as he announced his
belief that all trusts will ultimately be
curbed, humanized, and controlled for the
benefit of all.
In part, the paper written by the Rev.
DR.. r. Huber Newton follows:
Il do not quite understand the titling of
the subject, but l take it to mean what is
popularity known as the trust I can put
my thoughts of this subject in nutshell.
The medieval system of regulation of the
business world by great guilds broke down
by its own weight. Then followed an era
in the eighteenth century and the begin
ming of the nineteenth century of pure
individualism of almost unchecked compe-
tition. This in turn has been breaking
down of its own weight. Its evils have
been so many and so grave that some
remedy has become necessary.
I'm the natural movement of society that
remedy is appearing as return TO con-
centration and organization and regulation
of the business world.
Labor organizes; capital organizes.
Capital is organizing faster and further
than labor. Within few years We have
the monster development of the corpora
tion and the trust as We see them on
every hand. This view of the development
OF the trust indicates a substantial service
TO be rendered by this Organization of
capital Such service is plain TO every
thoughtful person.
The evils Of competition are done away
with. The regulation of production is as.
sured. There need not be hereafter over
supply, followed by the clogging OF the
industrial system, stagnation. hard times.
etc. Great economies are possible higher
skill in management developed
On the other hand great dangers at
tend their development. These dangers
are plain enough to every thoughtful mon.
Unless labor can organize on the same
gigantic scale, it will be more at the mer-
cy OF capital than ever. Hosts Of men
viii be thrown out of employment The
market being in the control of few hands
prices can be forced up at least tempo
rarily. Taxation beyond the dreams Of the
past can be laid by private hands upon the
whole community-the entire nation
The enormous power Of aggregated cap
ital can corrupt and debauch our city
councils, our legislatures. and our Con-
gress An imperium in imperio. a Gov
ernment within Government. is growing
irresponsible autocratic. well-nigh omnip-
otent, and il must be said too often con-
scienceless.
Here there are advantages in the indus
trial system and disadvantages. cuminat-
ing in the most unprecedented danger for
our republican institutions through the
jealousy inevitably excited by the eoncen-
tration of wealth on an enormous scale
into even fewer hands under a professed
democracy
What a revelation of the spirit of our
modern corporation has been given within
the last few days in the astounding state
ment OF the profits of the Carnegie Com
pany last year and for the present year
company expecting to make from $40
000. 600 to $50. 600 600 in the current year
with capital of SIS. 900 000--to what ex-
State to tax the whole nation under the
guise OF a tariff that it may he able to in
crease the wages of its workingmcn.
No more revolving story is told in the
history of the industrial world than the
tale of the Standard Oil Trust as Henry d
Lloyd has given it That that story is on
the whole true must be sufficiently evi-
denced by the fact that the magnates OF
the Trust have never brought a libel suit
against him.
What are the remedies? Plainly in the
first place. publicity. When we know the
facts concerning these corporations we can
know how to tax them justly. how to make
their capitalization honest, how to regu-
late them in every way. Regulation and
control must be vigorously assumed by the
State and pushed forward as fast and as
far as needful. The end of that control is
not to break down the high organization of
capital. but to safeguard it from its own
greed and rapacity. TO humanize it and TO
moralize it, and ultimately to socialize it.
While We are learning these primary les
sons We will be learning how to attain the
ultimate control of every monopoly and
save it from being a monopoly by making
ii the creature of the people. preserving
the concentrated organization but using
il not for the profit of the few who built
it up. but for the profit of the many. who
have really enriched 1t.
The ultimate outcome of the trust
seems to me what is practicable in the
dream of socialism,.