New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-01-12
GOVERNOR gHAWs SECOND TERM
INAUGURAL ADDRESS DELIVERED AT THE
STATE cAPITAL-TRUsTs DENOUNCED.

STATE CAPITAI-TRUSTS DENOUNCED
Des Moines, Iowa. Jan. 11-Governor Leslie ID
Shaw was inaugurated this afternoon TOT MS So
ond term. The oath of Office was administered oy
Chief Justice Granger of the state supreme Court
in the presence of five thousand persons Inc ser
vice consisted of a parade from the state HOUSE
headed by troop of the National Guard 10 the
Auditorium where addresses were delivered oy
Governor Shaw and Lieutenant Governor Mlihmah'
The Governor said In part:
Even in this most remarkable century, ever IA
nous for its growth and wealth ana material PIO -
Increase with the Years / refer to our merchant
marine At the beginning of the nineteenth CEN
'tury We carrying 30 per cent OF our IoreIsi
commerce in American ships; we now carry one one
are aen or So dG 'e Of the Pacdc Shall build
the ships requisite to its enjoyment? 1t Is as truly
are the islands that rise above its surface. shall
eyd a0f f9 S trade 20 wbah Il has placed
within our reach? To build a merchant marine
encourasemeht as the the nations Of Europe accord
those with which we must compete. Never In the
scented 10 any people have come to us unsought.
Our MANUFACTURES and our commerce limited
only by the capacity of the world TO consume,
e1perience of the War and Nav departments of
the Government in the last two years tustihes the
hope that the shipyards in the world will md
steady home employment. and that vessels built to
fly the American colors will be accessible Tor all
The United States is conceded to be the great
agricultural country Of the world, and our manu-
reason why we may not also become the great
commercial and financial centre But in order to
do this must have good money as our Euro
pean competitors. And what characterizes good
ability. A due bin viii remain at par so long as
its maker maintains its exchangeabity for legal
whenever exchangeabiiity falls Silver is as good
as gold only so long Il can he exchanged at par
for gold The principal objection made by those
who contend against the free coinage Of silver is
manner provided for and it believed that left to
themselves gold and silver coin Will fuctuate in
The Government should. I think maintain the
gold and prefers silver should have the absolute
ilege; The holder of greenbacks or Treasury notes
Of exchange for any kind of money that viii better
suit his convenience The first step in the direction
way or by some means it will command a pre-
mum UNI mere certainty can be no better way 10
changea bility. I can see no increased danger by
gold and Of gold for silver than inheres in the
of for the % of 70 and
correct 1t is reasonable and right. Such pro-
that Dollar oS Eed States IS eaUV
aIent Of. and that 1t can be exchansed for 29S
YORK as acceptable at the clearing houses Of the
I think those who contended at the Trust Con-
yenton in Chicago last fall that trusts and monop-
correct. / have yet to find the first man who has
a word to say in extenuation or defence Of monoP-
9ltes Gentlemen Of the General Assembly. let It
be your duty to crush every one within your reach
people or this state Will call you blessed,
and the people of ecery other State will take notice
OF your wisdom and will follow the course you
snail have marked out. If all the States OF the
Union could be induced 10 unite some single
policy would have no fears of successfully COM
batting monopolies in this country. They might
be built up abroad. but they could then be effect
lively reached by means of a tariff. AggregatiOns
or combinations Of capital do not necessarily con-
stitute the evil complained Of They may be and
are dangerous for they may, and frequently do,
complsh great harm; but they not harmful
per Sc The evil. as I discern it, consists in
monopoly.
If trusts are to exist anywhere I would prefer
them in this country, and would submit
TO the domination of steel rail factories built and
operating in Iowa as where they are. If you can
devise some way to bring about uniform legislation
so that capital shall find no more welcome else
where than here, it will be my pleasure to CO.
operate with you; or. if you can devise some
statute which will relieve people from dom
ina ton of monopoHes, either at home or abroad L
shaI be glad to add my signature when the bin
snail be presented for approval. Any legislation
that will bring widespread disaster and ruin will
result in the abolition of trusts and combines and
will scatter all aggregations of capital I think 1t
Is generally conceded that the trust problem must
be treated by the National Congress rather than
by State legislatures.