The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-02-19
TRUSTS TEND TO SOCIALISM
THIS is THE IDEA PUT FORTH DY
DIR. HEBER NEWTON.
Capable of Great Good TO Mankind
and Also Of Great IlI-Attack ON
Tariff Based on Carnegie.

NEW YORK, Feb. 1s-Cooper Union was
filled tonight with audience gathered TO
hear a discussion on the ethical basis OF
industrial organization. under the auspices
of the Peoples Institute. Prof. Charles
Sprague Smith presided. Edward Mark
ham was introduced and read one of his
poems. entitled 'The End Of the Century"
Mr.. Markham was heartily cheered and
was recalled, the audience demanding the
reading of 1.-The Man with the Hoe" to
which he responded.
w. H. p Faunce, president OF Brown
University. the principal speaker OF the
evening, was then introduced. He began
by saying: I'm order that may study
the human brotherhood more closely,
want to consider with you four men-the
man with the hoe, the man with pen.
the man with purse, and the man with
an idea" He then went to say that
the man with a hoe had been immoftalized
by Millet. without the labor of the man
with the hoe all the other labor OF the
world would cease and 10. lift that lonely
toiler is to lift the world
The man with a pen, the speaker said.
was likewise toiling in the service Of the
world. Without him all the great thoughts
and Inspirations of the world would die
almost as soon as spoken. The man with
a purse is type. DR.. Faunce said. whom
we can readily discern. The question Is
what is he doing with IT.? II he is using IL
as the mere minister OF luxury ana per-
sonai qualification then he Is a with
out conscience. and 20 roe TO the society
which has made his purse possible II he
is using it as a trustee believing that God
and men have called to him 10 take charge
of what he must soon surrender. then he
may be another Peter Cooper.
The man with an idea, the speaker said.
is one that cannot be so readily portrayed.
hut behind purse, pen and hoe lies the idea,
the vision Every mans work is valuable
Just in proportion as IL is mixed with ideas.
Unintelligent labor simply damages raw
material and defaces the beauty OF the
world. We should. then, value the man
with the idea. 1t may not be our idea, but
give him chance to express IL.
Professor Smith then read a letter from
Dr. Heber Newton, which was in part az
follows: 81 do not quite understand the
titling of the subject. but take it to mean
what is popularity known as ''The Trust"
The medieval system OF regulation OF this
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 in
dividualism, of almost unchecked COM
petition. This. in turn. Is breaking down or
its own weight. Labor organizes, capital
organizes. Capital is organizing faster and
further than labor. Within a few years we
have this monster development of the cor
poration and the trust as we them on
every hand. A host of benefcences are
rlade possible. On the other hand, great
dangers attend this development. These
dangers are plain enough to every thought-
full man. Unless labor can organize on the
same gigantic scale 1t viii be more at the
will be thrown out of employment. The
market being In the control OF few hands.
prices can be forced up. Taxation beyond
the dream of the past can be laid by pri-
vate hands upon the whole community, the
entire Nation. The enormous power OF ag-
gregated capital can corrupt and debauch
our city councils. our legislatures. our
Congress.
What a revelation of the spirit of our
modern corporation has been given in the
last few days in the astounding state
ments of the profit OF the Carnegie Com
pany last year and for the present year.
company expecting to make from forty
to fifty millions in the current year on a
capital of SIS. 900. .ooo-to what extent water.
we do not know-asking the State to tax
the whole Nation under the cruise OF a
tariff that it may be able to increase the
wages of its workingmen- No more rs-
voting story is told than the story OF the
Standard OIL trust. as Henry ID. Floyd has
given il. Regulation and control must be
assumed by the State and pushed forward
as fast and far aeedfui. The end OF
that control Is not 10 break down the high
organization of capital. but 10 safeguard II
from its own greed and rapacity. TO hu-
manize IL and TO naturalize IL and ultimate
ly 10 socialize H. The ultimate outcome
of the trust seems TO me what is practical
In 81, draa of ism