The evening times., 1900-01-04
ROOSEVELT ON TRUSTS.
An Interesting Discussion I'm the Mes
snge of New Nora's GoNernnr

i
yelt had this TO say OF trusts:
This problem has hundred phases. The
relation OF the capitalist and the wage
worker makes one; the proper attitude of
the State toward extreme poverty an
other; the proper attitude of the State to-
| ward the questions OF the ownership and
| running of so-called public utilities.
| third. But among all these phases, the one
| which at this time has the greatest promi-
hence is the question of what are COM
monty termed trusts meaning by the
! name those vast combinations of capital
usually fourishing by virtue of some mo-
nopolistic element which have become sc
startlingly common a feature in the in
dustrial revolution which has progressed so
rapidly during recent years.
Every new feature of this Industrial rev.
olution produces hardship because in its
later stages it has been literally a revolu-
tion instead Of an evolution. The new in
ventions and discoveries and the new meth
DDS of taking advantage of the business
facilities afforded by the extraordinary de
yeiOpment of our material civilization have
caused the changes to proceed with such
marvellous rapidity that at each stage some
body Of workers finds itself unable TO ac-
cOmmodate itself to the new conditions
with sufficient speed TO escape hardship
In the end the accommodation of the class
takes place; at times too late for the we'll
being of many individuals The change
which would be unaccompanied by hard
ship if it came slowly may be fraught
with severe suffering il It's comes too fast,
even when il is in the end beneficial.
The machinery of modern business is so
vast and complicated that great caution
must be exercised in introducing radical
changes for fear the unforeseen effects may
take the shape of widespread disaster.
Moreover, much that is complained about
is not really the abuse so much as the in
eyitable development of our modern iu-
dustrial life. We have moved far away
from the old simple days when each COM
munity transacted almost all its work for
itself. and relied upon outsiders for but
fraction of the necesEaries. and for not
very large portion even OF the luxuries
OF life. Very many Of the antitrust laws
which have made their appearance on the
statute books Of recent years have been
almost or absolutely ineffective because
they have bIinked the aIl-impOrtanc fact
that much Of what they thought TO do
away with was incidental to modern in
dustTiaI conditions and could not be elm
mated unless we were willing to turn back
the wheels CT modern progress by also
eliminating the forces which had brought
about these Industrial conditions.
The abuses exist. and that they are OF
very grave character IL is worse than
idle to deny. Just 50 long as in the busi-
ness world unserupulous cunning is allow
ed the free rein which. thanks 70 ths
growth of humanity during the past CEN
turtles. we now deny to unscrupuIous
physical force then just SO long there will
be field for the best effort of every honest
social and civic reloTmcT VINO is capable
OF feeling an impulse OF generous indiEna-
tion and who is faF-Sightfd enough 10 aD-
preciate where the real danger 20 the
country lies. The effects are bad enough
when the INSCRIPTIONS individual works
by himself They are much worse when
he works in conjunction with his fellows
through a giant corporation or trust. Law
is largely crystallized custom largely a
mass Of remedies which have been slowly
evolved to meet the wrongs with which
humanity mas become thoroughly familiar
In d simple society Only simple forms OF
wrong can be committed. There is neither
the ability nor the opportunity to inhict
others. primitive people provides for
the punishment OF theft, assault and
murder, because the conditions OF the ex-
i5ting society allow tie development Of
thieves and muFleFers and the commission .
of deeds OF violence; but it does EOt pro-
vide for the punishment OF forgery because 4
no forgeTs. The gradual growth of hui
manitarian sentiment often unconscious
or but semi conscious. combined with other
causes step by step emanciDated the serf .
from bodily subjection to his over-lord: be .
was then protected in his freedom by
statute: tut when he became a factory
hand the conditions were new. and there
were no laws which prevented the use OF I.
unguarded machinery IN the factories. or
IL. 4. =
conscientious employers by the unscrupu-
lous until legislation put them ON an
equality When new evils appear there is .
always at first difficulty in finding the .
proper remedy; and as the evils grow more ,
complex the remedies become increasing
ly difficult OF application. There is no use {
whatever in seeking to apply a remedy /
blindly; yet this is Just what has been
done in reference to trusts
much OF the legislation not only pro
posed but enacted against trusts is not enc /
whit more intelligent than the medieval .
bull against the comet, and has not been
one particle more effective. Yet there can |.
and must be courageous and effective rene /
dial legislation.
The chief abuses alleged to arise fsOm
trusts are probably the following: Mis-ep- [
reSentation or COncealment regarding ma I
terial facts connected With the Organization .
of an enterprise; the evils connected with /
unscrupulOus promotion; orercapitaliZat.on, /
unfair competition. resulting in the crush [
ing out OF competitors who themselves do /.
not act improperly; raising of prices above /
fair competitive rates; the welding Of in /
creased power over the wage -earners. OF /
course. none Of these abuses may exist in /
a particular trust but in many trusts, as 4
we'll as in many corporations not ordinarily .
caItad truSfs one or more of them are eVi- /
dent. Some OF these evils could be par I
TALLY remedied by 4 modification Of our I
corporation laws; here We can safely 90 {
along the lines OF the more conservative /
New England States. and probably not a /
little further. Such laws Will themselves !
provide the needed publicity and the need /
ed circumstantiality of statement. We ,
should know authOritatiyely whether stock (
represents actual value of plants, OF
whether it represents brands or good will;
or if not, what 1t does represent, if any
thing. 1t is desirable 10 know how much
was actually bought how much was issued
free. and to whom, and, il possible, for
what reason.
ssWhere a trust becomes a monopoly the I
State has an immediate right in interfere 4
r.re should be taken not 20 stine enter
nriso or disclose any facts OF a business
that .re essentially private; but the state /
e.. ,to otection of the public should ex-
o,-cise the right to inspect, TO examine thor /
o,gbIv all the workings of great corpora /
tione inst as is now done with banks and (
wherever the interests of the public de- I
mand II. it should publish the results of its 4
examination. Then If there are inordnate /
profits. competition or public sentiment will /
give the public the benefit in lowered \
prices; and If not. the power of taxation |