The Van Buren press., 1900-06-02

secure for himself n competency. | don {
want him to destroy more than he is
worth while he Is doing that.
Another thing that, in my Judgment.
has aided monopoly is high tariff. No.
body can dispute that tarif-an import
duty-enables trust to charge for its
product the price of similar foreign
product plus the tariff.
Now some have suggested that to pnt
everything on the free list that trusts
make would destroy the trust. | do not
agree with the statement as 1t is made
so broadly.
1t has been suggested that discrimi-
nation by railroads has aided the trusts.
No question about 1t II one man can
secure from railroad 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 producer upon the
same footing and absolutely preventing
favoritism, monopoly might still exist,
The remedy must go further. 1t must
be complete enough to prevent the
organization of a monopoly.
| think men differ more as to the
remedy than they do as to their opinion
of trusts. venture the opinion that
few people will defend monopoly rs u
principle or a trust organization, as u
good thing, but there are great diff
ferences of opinion rs to the remedy.
We have a dual form Of government
u state government and u federal gov
ernment. This dual form Of govern
ment has advantages which can hardly
be overestimated, yet 1t also has its dis
advantages. When you prosecute q
trust In the United States Court II hides
behind state sovereignty and when you
prosecute II In the state court 1t rushes
10 seek federal jurisdiction-and we have
some difficulty In finding a prison for
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 state are able
always to settle q question which con-
Germs them alone. II they create q
corruption and 1t becomes destructive
Of their best interests they have power
to destroy that corruption; but II the
corporation which oppresses them is u
foreign corporation, created In another
state, they cannot destroy 1t; they
should have power to exclnde It. In
other words, the people Of state
should have not only 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 Ia sufficient. |
believe, In addition to a state remedy,
there must be a federal remedy, and |
believe Congress has, or should have.
the power to place restrictions and
limitations, even to the point Of prohibi.
tion, upon any corporation organized In
any state that wants to do business out
side Of the state.
| do not believe that the people of one
state can rely upon the people of another
state In the management OF q corpor.
alton. New Jersey has law favorable
to trusts. II Is not safe to place the
people of other states Mt the tender
mercies OF the people Of such n state rs
may desire to collect Its running ex'
penses from the taxation OF corporations
organized to prey upon people outside.
Here Is one remedy: Congress should
pass u law providing that no corporation
organized In any state should do business
outside the state of Its origin unless It
receives from an authority created by
Congress license authorizing II to do
business. Such license can be granted
upon conditions which WILL IN the first
place, prevent the watering Of stock !;
In the second place, prevent monopoly
In any branch of business, and, third,
provide for publicity rs to all Of the
transactions and business Of the corpor-
alton.
II such n law Is unconstitutional am
In for an amendment to the constitution
that will give Congress power to destroy
every trust In the country,
| do not believe that any state should
permit the organization of corporation
with a single drop Of water In the stock
of that corporation. The farmer cannot
initiate the value Of his land by watering
the value Of that land. The merchant
In the store cannot initiate the value OF
the goods upon his shelves. Why should
the corporation be permitted to put out
stock that represents no real value.
II the license system were once estab'
lished by congress the law could from
year to year impose such new conditions
as might be necessary for the protection
OF the public from the greed and avarice
Of great aggregations Of wealth. ! do
not go 40 far NJ some do, and believe
that there should be no private corpor.
ations; but / say that corporation is
created by law that It is created for the
purpose Of good and that 1t should never
be permitted to do thing that Ia in'
furious to the public, and II any corpor.
alton enjoys privileges today which are
hurtful TO the public, the privileges
ought TO be withdrawn from II,