New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1901-10-06
WAsHBURN ON RESTRICTION OF Trusts
He BELIEVES THE MOST DRASTIC MEASURE;
PRACTICABLE SHOULD BE ENACTED

He BELIEVES THE MOST DRASTIC MEASURES
PRACTICABLE SHOULD BE ENACTED.
MINNEAPOLIS Mimi Oct s (SpeciaD-Ex-Senato tor
Washburn, who gave utterance two years ago n
An interview in The Tribune his views IN re-
gard TO trusts. has made public in the columns OF
The Times" of this city, a fuller expression OF
opinion in regard TO the need of restraining the
building up of monopolies. In the course OF the
statement he says:
So far as restraining the formation of trusts by
the duty Of both general and State governments to
ments are vigorously and faithfully executed. IN
of the tariff. should remove duties from everything
that enters into the manufacture Of articles con,
froled by trusts. The government OF the United
States should give no advantages nor aid nor COM
fort to any whose main a % Is TO
of duty every article that enters the United States
Do L think the continued formation Of trusts can
be restricted by such legislation? ] think 1t can;
principles do not believe that these illegitmate
they have the seeds in them that will ultimately
lead to their overthrow-certainly with national
Them The combinations that destroy healthy
competition and promote great monopolies are both
that the American people. intelligent. energetic.
snterprsng wiGe awake ana s fer5s IN
such condition Of things 1t will ultimately i'm
press every one as utterly humiliating-the fact
thar a half dozen men located at some commercial
centre fix prices on every article of production
consumption.
Then. again. there is danger these trusts in
the fact that they so largely oyercapitaliZed
that they cannot permanently succeed CONNER
cially. AT present, with the enormous activities in
the country and the great demand for almost
everything that is produced, these combinations
pay dividends stock largely overcapitalized.
But WHOM the country once more returns to a
NAL condition of things this demand will not con-
tinue and IL will be impossible to pay dividends on
stock which is so largely fictitious. Then Will
come the collapse, and look forward to period
j do know how IL Will come-when we
shall see music by the entire band along the
entire line OF overcapitslized Institutions On the
whole. I am hopeful that the present unnatural
and abnormal condition OF things will ultimately
give way 10 wholesome and correct methods OF
business The American people are phenomenal
and hitherto IN all great emergencies through
occasion / believe they viii do so in this case
Speaking OF the revision OF the tariff / think the
time 10 at hand when duties either be
largely reduced entirely removed from very
many articles that have heretofore been highly
protected As a matter of fact. have to a verv
large extent outgrown the necessity of protectio
Of our industries. have always been. since took
interest in public affairs, strong IL not ex-
tTeme protectionist, being of Wing origin and al
ways protective tariff Republican. And I am
glad 70 say that think the doctrine protection
has been fully INDICATED In the last few wears
from its results Under the policy of protection
enormous and hourfshing Industries have grown IN
all over the country and OF every Description
They have now. however reached a point where no
further protection is required.