Omaha daily bee., 1902-06-06
GREAT WORK OF RAILROADS
james j. Hill Places II Next 10 Az
ricuIture in Commercial Elk
pansiOn of ant

CHICAGO, June 5.-One Of the largest and
most enthusiastic gatherings ever assembled
in the main banquet hall Of the Auditor
ium was present tonight at a dinner OF the
Illinois Manufacturers association. James
J. Hill, president Of the Great Northern
railway, was the orator of the occasion
and he closely held the attention OF the
associations 400 guests. His subject was
Commercial Expansion" the banquet be-
ing in the nature Of a celebration Of the
prosperity pointed 10 by the organization
as a result Of an expansion policy.
Special significance was given to the
topic because Commercial Expansion was
the keynote Of resolutions adopted by the
Illinois manufacturers and wired to presi-
dent Mckinley at a time when the national
government was said to be hesitating and
in doubt as 20 what policy to pursue re-
garding the new island aceessions. Mr..
Hill said in part:
The commercial expansion Of a nation is
the best indeK of its growth. Commercial
| growth Is B0Th domestic and foreign. Fol-
lowing the civil war came a period IN the
history Of our country. OF internatohal oes
velopment which has been the wonder or
the world. Since the close Of the war IN
1865 the enormous territory west OF the
Mississippi has grown from frontier settle
ments into great populous and wealthy
states.
| Considering the QueSLon from a DrOdu
| national standpoint the next interest IN
importance 10 agriculture Is the ralIroad
interests Of the country. ! thlnk ] am safe
in saying that next 10 the CHRISTIAN re-
ligion and the common schools no other
single work enters into the welfare ana
| happiness of the people OF the whole coun-
try TO the same extent as the railway; no
| ether work could have made II possible 10
| occupy the enormous stretches through the
interior Of our country and people them
with towns and villages.
In a country as large as ours, carrying
an enormous undertaking, large amounts
of capital are necessary ana this capital
can be more readily furnished by corporate
| ownership than in any other way. The
onIy serious objection 10 sO-caled trusts
has been the method Of creating them, not
! for the purpose OF manufacturing any par
ticular commodity in the first place. but
for the purpose Of selling sheaves OF
printed securities which represent nothing
more than food and prospective pront "a
The consumers. II II Is the desire Of the
general government through congress "a
prevent the growth of such corporations, II
4 has always seemed to me that a simple
remedy was within their reach. Under
the constitutional provision allowing con-
gress to regulate between the
business outside OF the state in which they
are incorporated should be held TO a uni
] form provision Of federal law, that they
| should satisfy a commission that their cap
ital stock was actually paid up in cash OF
mi property al a face valuation, just as the
by the comptroller Of the currency. With
that simple law the temptation 10 make
/ companies for the purpose or selling pros
4 pectiye profits would be al an end, and al
The same time no legitimate business would
suffer.