The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-08-20
KIDNAPPED MILLI0NAIRES
WHILE IN DURANGO THE PLUTO
Gratis { s
In MIR. Adams's Clever Novel Is Pre-
scented a Novel and Rather Attrac-
tive ~Socialistc Theory
One member of the kidnapped party is a

One member of the kidnapped party is a
socialistic millionaire mere millionaire in
a party of plutOcrats. With sardonic
~shrewdness the kidnaper has selected this
young lawyer 10 direct the plutocrats TO
the discussion of the country's economic
conditions and to teach them the beauties
of his own beliefs. which are also the be-
liefs of the kidnaper.
Thus we have them at evening. smok-
ing their cigars and arguing their way
through the pros and cons of socialism
versus private ownership. Whether the
author has fairly represented the views
held by his distinguished characters or
not, he certainly has drawn them as the
general public regards them. Mr.. Kent
DANES X. keene) is sturdily opposed 10
trusts; Mr.. Rockwell (Rockefeller) thinks
them beneficent agencies for the service or
the people; Mr.. Carmody lAndrew Carne-
gie) inclines to the belief that government
competition with trusts would be a good
thing, with the certainty that in time the
government would get all the business
4 and so restore economic equilibrium; Mr..
Morton O.. Pierpont Morgan asks now
the government Is 10 obtain the land for
raw materials, and where it will get the
You may rest assured that neither the
banks nor the trusts will voluntarily sur
render any advantage which they pos
TIC which Mr.. Hammond, the kidnapped
teacher" of the. college of plutocrats, re-
plies:
They will not be asked TO surrender
any advantages which they possess. The
government will exercise the advantages
which it possesses, but which II has not
used. Thus far the banks and the trusts
have taken advantage of their charters.
ment has a franchise more sweeping ana
more valuable than any yet issued by the
State of. New Jersey. The government
can legally acquire, by means of taxation,
every dollars worth of property In the
United States. If it is legal to tax whisky
400 per cent. 1t is equally legal to tax coal
and iron lands 100 per cent. This govern
ment of ours is no unsubstantial affair. 1t
can be made the executive power of the
whole people, and there Is no limit TO what
1t can do, SO far as property is concerned.
1t can forbid the mining of coal as readi-
~ as it can forbid the private carrying of
mail matter. Your trusts and banks will
not start in with any advantages over the
government. L am not referring TO the
s sSmininisstioa as tyP Sssa i by m tine existing : sbns
eminent appropriating to itself all the
powers bequeathed to it by the Constitu-
that it should use all those powers, but
that it should assert them.
"Extortionate taxation is nothing more
than contiscation," said Mr.. Morton.
You can call it by any name you will"
returned Hammond. If the government
decides TO go into business 1t will have it's
R@0AS Va kA1 Aaf ~ VIII t1aA1
coal, iron and timber lands, and such ma
terials as nature planted in or on the earth
for the common good of man. 1t may buy
them IL a fair price is offered. 1t may tax
them until those who claim ownership nv
the heritage Of unborn generations will be
glad to relinquish their property. The men
or corporations that assert absolute owner
ship in all the coal and iron to be mined
a thousand years from now need set up no
In any event, the government will pro-
coed legally. A regularly organized gov
eminent is usually a great stickler for
law"
Mr.. Carmody laughed heartily.
Your motto is, the government can
do no wrong. as 1 understand you," he
1T can do wrong, but it can do nothing
illegal" said TRUSTS and cor
porations have established the precedent
of legalized extortion. We must
aim to retain all the good features of the
anne controD and eliminate the bad
ones. y Under the purely competi-
tive system the consumer reaped an ad-
vantage in cut-throat prices, but the work
man suffered from cut-throat wages. I'm
der the trust system the customer is be-
ing taxed for extortionate profits, which go
to swell dividends, but not wages. Never
has there been a competition for labor.
Ever has labor competed against itself,
save in the few crafts where unions have
obtained a precarious foothold: A labor
trust is no more defensible in theory than
any other kind Of . trust. All aim at the
You are in favor of a system i'm which
capital will be forced into such a com
m PETITION as 5 s WILL redgc Mr its s. earnings rr n 70 q
you hold that such a system will raise
the earnings of the actual producers to
a maximum. Therefore you propose that
capital be forced to compete with the
understand it?'
THAT is it exactly" said Hammond.
II do not propose that the government
shall enter into a relentless competitive
war against trusts or corporations. l
an nnf Qrorlino that IL shall nroaaDI a.,
discriminatory to confscate land by tax
alton or any other method. | have GER
tain suggestions for a possible plan of pro-
will be as brief and plain as possible"
Go ahead, Hammond" said Mr.. Kent.
lens now in front of us is worse than
the ostrich which buries his head in the
sand in time of danger"
The next evening they met and con-
tinued the discussion, Mr. Hammond more
fully stating his plan.
Il am favorably impressed with the sys-
tenn which Mr.. Hammond has outlined
for government participation in manufsc-
vate competition has proved a failure.
The avarice of individuals Is such that
no fair agreement between competing in
terests has been found effective. Owners
OF factories or industries have refused 10
be bees 9n tie with reasonable profits, From
duced wages, lowered the quality of goods
and have sought by a hundred expedi-
ents to gain an individual advantage. OF
course, their rivals initiated this policy.
and as a result every interest has suffered
The consumer has had inferior and adult
terated products forced on him: labor has
had its wages reduced. capital has re-
peatedly overreached itself and created
an reproduction. and in the collapses
that have followed all were losers. The
only remedy for this Industrial anarchy
is consolidation. Honorable competition
based on a fair profit. is impossible. We
now have the advantages of combine
ton, but have surrendered the dement's
which should come from a healthy com
petition. Hammond proposes an honor
able competitor-the government. In view
OF the present volume OF money and
, per cent. profit is a reasonable figure
be a serious competitor and the rate of
earnings would not be Immediately
changed. Hammond's plan is entitled 70
the serious attention of all ca capitalists who
realize that in the very nature of things
some compromise will be forced upon
them. We have repealed the
law of supply and demand. and have
abolished competition. We have done so
under the form of law. Hammond proposes
To reinstate them by law, and TO protect
all property which has been acquired in the
interim. | consider his plan a fair. honor
able and scientific compromise. which
wealth can afford 10 weigh and accent.
with such notifications as expe rience will
dictate"
Buying "AntiQues.v