The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919, 1900-05-17
HOW TO REGULATE TRUSTS.
Coler, of New York Citv, Presents
Good Ideas for Consideration.

devised plan for coping with
the trust issue. 1t involves
the control and regulation of
trusts i'll a manner that he be-
lieves will do away with the
Objectionable features which
have attended the consolida-
ton of great industries under
one management controlling
huge aggrcgations of capital.
Mr.. Coler suggests that all
trusts be submitted by state
laws to state inspectors, as
national banks are now in
spected by federal officials. He
will seek to have a plank en-
bodying his idea, placed in the
democratic platform of every
state in the union in the ap-
preaching campaign, and he
will lay the proposal before the
national managers of the dem
ocratic party for their approval.
Mr.. Coler made the follow
ing statement last night in re-
garding his plan, prefacing it
with the reminder that the
federal government is dis
barred by the constitution from
exercising the functions which
he would have the state gov
ernments undertake:
The time has come when
the great corporate interests OF
the country, that are united
under the general designation
of trusts must be compelled in
a Legitimate way to recognize
essential principle of democ-
racy-that the rights of the
masses are superior to those OF
the individual or the classes
and therefore must prevail
Popular cla,nor and political
agitation against a recognized
evil that stops short of effect.
i've and intelligent action, is as
senseless as it is useless. The
adoption of a sound political
platform does not make good
government, and general de
nunciation, no matter how well
founded, will never destroy q
trust or reform a public abuse
"The existence of a corpora
ton is prima facie evidence
Of the grant of special powers
or privileges that are not en-.
joyed by the people as indi
viduals. Companies are formed
and charters obtained in order
that a company or combination
of capital may do something
that cannot be done by one citi.
zen working alone. Therefore
a charter is special permit OF
privilege granted by a state
government.
"The same power that creates
that privilege by the grant of q
charter to a number of persons
to do business with some ad
vantage over the individual
citizen, is in duty bound te
protect the rights of those who
have not received similar favor
in order that all may enjoy
equal rights guaranteed by the
constitution of the nation and
the organic laws of the states
"rhe business of every cor
poration obtaining charter
privilege from a state govern
ment should be. open at ali
times to examination and regu.
lation by properly appointed
public officers. One of til,
most intelligent and plausibl.
defenders of those combina
tions Of industries and capita
known as trusts, recently mad,
the statement that such busi
ness arrangements were o
advantage to the masses of tn,
people because they divided
the capitalization into small
shares in which the poor coule
invest their savings. Assum
ing that such is the fact, tn,
argument advanced at once be
comes an imperative reason
why such corporations shoule
] be subject to government in
spection and regulation. l
they receive charters conferrin.
exceptional privileges sucl
grants become a part of thei
assets or capital and give then
a financial and Commercial
standing in the business worlt
amounting to an advantage
over each and every individua
! competitor.
MANIPULATION OF SECURITIES.
"In addition, the charter con
veys to them q semi-public o
government Endorsement tina
may materially affect the mar
ket value of their stock O
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