The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-10-16
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upon this continent was builded a new
system of government which has been
the pride and glory of the American peo-
pie. It's growth and achievements have
been the marvel of the world History
records nothing like it, 1t has grown
in a century and quarter from thirteen
sparsely settled colonies to forty-fiye
great States, sweeping from ocean to
ocean, from Canada to Mexico, and the
100000 people have become 5000, 900
And this is the work of the people, 1t is
their country, their government, their
glory. Who would change such a sys-
tenn? Let him who would be anathema
maranatha.
And yet it is asserted that the party
in power is supporting policies that are
slowly but surely undermining this sys-
tenn of government and which, if not
checked, will in time convert it into an
oligarchy if not into an empire. Many
of the ablest Republicans who assisted
in the birth and growth of the Repub-
lican party assert this to be true
THE GROWTH OF TRUSTS.
Coming to discussion of Trusts,
Governor Jarvis thus described them:
A trust may be defined to be an assoc
citation of men controlling large sums Of
money or properties of large value who
enter into agreements to do or not to do
certain things. But this definition will
by no means fit all classes of trusts. The
truth is they have appeared in such num-
bers and in so many forms and under so
many guises that it is becoming difficult
to describe or name them. We can pro-
baby best understand what they are by
looking at two of them.
For this purpose Governor Jarvis Sc
lected the Cotton Bagging Trust and
the American Tobacco Company. eX-
planning that he did SO because many
of his hearers were unfortunately ia
miliar with them and their workings.
So we see one of the things they agree
to do is to destroy competition. When
they have done that they reduce the
price of the raw material and increase
the price of the manufactured article.
DO you ask me whether Republican
policies have anything to do with FRO
noting these trusts? | answer yes. and
cite you to their rapid growth and in
crease in number under a Republican ad-
ministration:
1. There are in the United States 254
incorporated trusts.
2. OF these 254 there has been 15S incor-
pcrated since Mckinley was elected Pres
ident.
g. OF all Incorporated trusts the capt.
tai stock, preferred and common stock
and bonds amount to $4,000, 800. 239.
a. Of those Incorporated before Mckinley
was elected the capital stock, preferred
and common stock and bonds amount to
81, 1885, 109, O5O
.. The trusts not Incorporated in the
United States number 1856.
g. OF these 100 have been organized
since McKinleys election.
Z. The capital stock of the whole 135
unincorporated trusts amounts to 1904
1919 OF this amount $762, 129, 436 was
before McKinley's election and S1.142.-
1855 after Mckinley became President.
g. The number of natural monopolies in
the United States is 90, of which 81 we're
formed under McKinley's administration.
The capital stock Of the entire 90 is 81
S62,9S3, 453. OF this amount $3.50, 373, $40
was for those formed before McKinley's
election and 1896, $50, 58S for those form
ed since.
THE TARIFF FAVORS TRUSTS.
Governor Jarvis pointed out that the
Republican tariff favored the forma-
ton of trusts, imposing, as it does, ex-
orbltant tariff rates running from 200
to 300 per cent--a rate that is prac-
tically prohibition.
Tear down the tariff wall and the
trusts will CO. he declared.
The speaker then discussed the
Porto Rican tariff showing how Me-
kinley had been false to all his
promises.
Governor Jarvis spoke with great
force upon the effect the formation of
trusts is having upon the small dealer.
and especially&f the manner in which
the formation of trusts are closing the
door of opportunity to young men. re-
ducing them practically to a state of
servitude.
May / not ask if we are not drifting
upon system of government which rests
not upon the consent of the governed. but
upon the consent of the trusts, under
Republican rule? And may | not ap-
peal to all men TO come to the rescue
of their country by driving this party
from power.
The first Republican President stood
lOI a SON6IIlIutHI Vi lllc PtDplc, LOT the
people and by the people. The last Re-
publican President is standing for a gov
eminent of the trusts, for the trusts
and by the trusts. The difference is the
difference between the blazing sun that
lights by day and the jacko' lantern
that deludes by night. What mighty
gulf there is fixed between Lincoln and
Mckinley!
THE ISSUE OF IMPERIALISM
Reverting again to Imperialism,
Governor Jarvis had this to say:
By Imperialism we understand the pol
icy recently inaugurated in this country
of raising great armies and equipping
great navies that we may send them to
hold the far-off islands of the seas by
force as our military possessions. This
is the policy of imperial England and
Germany, and we seem to be aping them.
When we entered into the war with
Spain it was proclaimed by the President
nd hty