The evening times. [volume] (Washington, D.C.) 1895-1902, 1900-02-19
TRUSTS BOLDLY Played
The Rev. r. Heber Newton De-
nOunceS Carnegie and Others.
The Standard OIL COnipnny's Career
Characterized Rs the Most Revolt
ing I'm the WOrId-DecIaratiOD That
MOnOpOIistic Profits Are Tax.
A Corporations Expected Gains.

NEW YORK, Feb. 19.-At the hrst OF
the series Of Conferences on Trusts, q"
which are to be held during the evenings
Of this week at the Peoples Institute in
Cooper Union, the Rev. Or. 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 InOre
particularly al 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 I take it to mean what is
popularity known as the trust can put
my thoughts OF this subject in a 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 o almost unchecked compe-
luton. 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.
In the natural movement OF society that
remedy is appearing as a 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 a few years We have
the monster development OF the CORPORA =
ZION and the trust. as we see them ON
every hand This view OF the deve .oDrueut
OF the trust indicates a substantial service
TO be rendered by TINS Organization q,
1api'ai- such service Is plain % every
thoughtful person.
he evils Of compel tion are done avsy
win, The regulation o. pruduct ion is as
sured There need not 10 hereafter over-
supply, followed by the c.qggiag OF the
industrial system, stagnation. hard times
cue. Great economies are possible. higher
skill IN management developed
On the other hand, great dsngers at
tehu 'helr development. These dangers
are plain enough 10 every thoughtful mon
Unless labor can organize on the Same
gigantic scale. 1t will be more az the ner-
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 temfo-
rarlIy- Taxation beyond the dreams nf the
past can De lald by private hands upon the
whole communicative entire nation
The enormous power Of aggregated can
ital can corrupt and debauch our civ
councils, our legislatures and our Con
sress' An imperium in impeTiu. a Gov
eminent within a Government. is growing
irresponsible autOcratic. welI-nigh omnIp-
otent. and. il must be said. too often con
scienceless
Here there are advantages in the indus
ulAl system ana disadvantage. cuiminat-
ing In the most unprecedented danger for
our republican institutions. through tbs
Jealousy inevitably excited by the ooncen-
tration OF wealth on an enormous scale
into even fewer hands. under a proressed
democracy.
What revelation OF the spirit Of on,
modern corporation has been given within
the last Few days IN the astounding state
ment OF the profits Of the Carnegie Com
rany last year and for the present year
A company expecting to make from $40
O00,0 900 10 $50 0OO. 600 IN the current wear
with a capital Of SOS 900. 0O0-.- whst ey
tent water We do not knOw-asking the
State to tax the whole nation under tbe
guise OF tariff that Il NAV be able 10 in
crease the wages Of its workingmtn.
No more revolving story is told i'm he
history Of the industrial world than Inc
tale Of the Standard Oil Trust as Henry n
Lloyd has given IT, That that story Is on
the whole true must be suflcientlv evl-
denced by the fact that the nagnares 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 10 break down the high organization Of
capital. but to safeguard IL from its own
greed and rapacity. TO humaniZe il and To
moralize IT, and ultimately 10 sOcialize il
While we are learning these primary les
sons We will be learning how TO attain the
ultimate control Of every monopoly a.d
save 10 from being a monopoly by making
1t the creature Of the people, preserving
the concentrated organization, but using
II not for the profit Of the few who built
II up, but for the profit Of the many. y no
have really enriched It.
The ultimate outcome OF the trust
seems to me what is practicable in the
dream of socialism"
1rrTNrTNr1 49, -