Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1901-05-08
ABE WRITES ON TRUSTS
THE OPINIONS OF A MILLIONAIRE
Believes that Trusts are Not Detri-
ment to the Country. Relates
Some Interesting Facts.
Lincoln, Neb., May Sd, 1901.

for the Buffalo show is about komplete
1 thought wood send you few wurd'
on trusts and things before / started
East. and par don't agre on trusts,
he bein a maltimilionair and of korse
leens that way, while / am only air
APPARENT aud am still sojurning with the
komon people. He sed trust was
merely combination of capital to se-
cure gigantic enterprises that could be
had in no other way. That some small
towns ard local manufactures were in
jured by them there was no doubt, but
the great mass of consumers were
greatly benefited, and to prove it said
in 1910 he was farming and paid Sl25
for farm wagon that could be bought
today for $50. In 40 he went to Cali
fornia around Cape Horn. 1t took six
months and cost S400. Today he can
take either of or routes SHOULD be
pronounced roots) and make the trip
in or days at cost of $50. He said
he had worlds of money but alone could
not build more than or miles of r.
r., but the combined capitalists such
as him had the energy and enterprise
to build between two and three thous-
and miles across barren deserts aud
over the greatest range of mountains in
the world, trusting to the traffic and
travel, which, with their foresight, an
ticipated also binding together this
great country from ocean to ocean with
a chain stronger than could be forged
by all the emperors and kings combined
on earth.
/ asked him about the Standard Oil
trust. He said all he knew about it
was that before Rockefeller went into
the oil business he paid three or four
times as much for gallon of oil as he
does now. About the great steel trust
be said that as this country led all
others except in war land was leaning
that way little too FAST it was proper
that it should lead the world in all
great enterprises. / asked him about
the story that trusts run the President
and all hands. He said no doubt the
Reps used more money than the Dems
in the last election because they had it
and the other fellows didn't have it,
but he said to ask his Dem friends what
fault they have to find with the times
and the price of stuff they have to sell,
also if since Columbus landed on the
shores of America they had ever seen
so many with money to loan and so few
who wanted to borrow? / told him
that young men with no money hadn't
any show and he gave me an answer
that staggered me. He said money was
not drop in the OCEAN compared with
energy, integrity and business capacity.
That Commodore Vanderbilt, the
founder of all their millions, began by
carrying passengers across the North
River in a row boat; John Jacob Astor
laid the foundation of the Astor wealth
by buying furs in small way; Stewart,
the greatest wholesale and retail dry
goods dealer in New York, In his day
came to this country when young
man from Ireland and started in busi-
ness by selling ribbons from house to
house tied up in pocket handkerchief;
Jim Fisk ran peddling wagon
through the country; Jay Gould was
once clerk in country store; Andrew
Carnegie came to this country from
Scotland poor young man; Rookie
feller less than 80 years ago was worth
only $1,000. The editor and proprietor
of one of the greatest papers in this
country is said to have once been a
coachman in st. Louis.
The president of the new great Am
erican Steel Co. is reported to get sal
airy all the way from 800, 900 to 81 ,OO0,-
600 year. Nearly all the men of
great wealth on the Pacific ceast began
with the pick and shovel One of the
greatest lawyers, and an ex-governor of
an eastern sta'e, ouce q newsbOy in
New York City and now in atfiuence,
gives annually to the newsboys of that
city a banquet in honor of his old bus
| iness
asked par what about the vast for
tunes than sooner or later would be left
| in other hands. He said that all the
money in the world would remain in il
and would be in circulation by some
body, and would find its way somehow
among the people, as nobody but a
lunatic would bury or hoard 1t.
The question of properly disposing OF
money Is given full as much attention
by the very wealthy as was the art OF
procuring 1t, and yet the world Is full
of people who never made a dollar for
themselves who know justexactly what
should he done with 1t, and the owners
never dispose of 1t to suit them
My friends are anxious that l should
run for sheriff, and as there Is only 99
candidates in sight would stand one
chance I'm hundred, which is better
than usually do when run for Office,
but par says had better keep rite on