Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1902-10-03
BOIES IN THE FIELD.
Accepts Nomination for Congress On
Democratic Side.
Former Governor of Iowa Gives His
Views on the Tariff and the
Trusts in Formal Letter
of Acceptance.

"a, former governor of Iowa, Horace
BOies, consented to become the dem
ocratic nominee for congress from
the Third district He accepts the
nomination, he says, as a matter of
duty.
He says he regards the nations
attitude in dealing with the trusts
as the paramount question before the
people and emphasizes his conviction
that the present high protective tar
if is historically and logically the
mother of trusts and responsible for
the unique and overshadowing evils
which threaten the country.
He Urges the futiIity of legislation
other than tariff reduction to restrain
the rayages of the trusts and cites
the fact that the majority of these
combinations have been organized
openly in the face of carefully pre-
pared antitrust laws. He pledges
himself to unrelenting and unremit-
ting war on the trusts and gives his
full Endorsement to the Iowa demo-
cratic platform.
Text OF the Letter.
The letter of acceptance in full is
as follows:
waterloo, Ia, Sept 22.-P. J. Qufgly,
Henry Parrot, l.. f. Springer, Committee,
Etc.-Gentlemen: Yours of the 18th inst. Of
ficially notifying me of the action of the
cent convention at Dubuque in unanimous
ly selecting the democratic candidate
for congress in this district and expressing
the hope that L would accept the same is
received.
"In no sense unmindful of the honor such
nomination corfers or the kindly feelings
of those who tender it, l want to consider
the question it presents from the stand
point of duty, which every citizen in a gov
eminent like our own owes to the common
wealth of which he is a member.
I'm doing this l am compelled to recog-
nize the fundamental principle upon which
our institutions rest, that the source of all
official authority. from the lowest to the
highest of public servants, is the people,
and this being true, it seems necessarily to
follow that they, through sources nearest
the seat of that power, should in the alb
sence of reasonable excuse on the part of
candidates, be permitted to select those
whom they desire to represent them in pub
lie positions.
Accepts Nomination ns Duty.
81 beg therefore, to assure you that. pro-
foundiy impressed as l am by the RESPONSE
bilities my nomination imposes and CRATE
full as | shall ever remain for the Confidence
it implies. I feel it is matter of duty on
my part to accept the same regardless of
any personal desires of my own
I'm doing this 1t seems appropriate. if not
necessary, inasmuch as TO platform of
principles suggested by the convention
shoulG' express my personal views on what
seems to the most important question
that now agitates the public mind.
This. in my Judgment, Is the nations
duty in dealing with the great combir atoms
of capital that have been and are still be-
ing rapidly organized in many of our indus
trial pursuits ana which have come to be
generally known as trusts
cit is no eXagg6 grafton to say that the
great mass of our people are profoundly
disturbed by what seems to them the i'm
perCfng evils of this rev departure in so
man. of our business enterprises.
The serious question that confuses and
snopelessly divides is the remedy that
must be found for The dangers they
I'm approaching a solution of that ques-
ton we should en6eavor correctly to COM
prehend its exact nature.
Trusts and Their Evils.
ITO do this it is necessary to understand
first of what trust, in the ordinary ac
ceptatiOn of that term consists.
I'm its most Objectionable form it is
combination of the properties of consider
able numbers of individuals corpora
tions. originally operated independently OF
each other. into larger corpora ton
controlled through its officers by single
management.
The dangers which result from these
greater combin atoms are more than one
THE mere statement of their constituent
parts demonstrates that they must of
necessity limit, if they do not destroy,
competition in every line of business in
which they are organized.
Another is the established fact that sep
arate owners of distinct properties who
consent to merge the same in the common
property of a greater combination and, ac-
cept in lieu thereof. as is usually done, the
bonds or stock of the new corporation. uni
VerSally insist upon eXorbitaEt estimates
of the value of that which they contribute,
thereby compelling the managers of the
rev enterprise so to conduct its business
that it will pay reasonable dividends at
q lGf ~ ifSe Fy S1y- tore Il -fn oly
Analyses the Steel Trust
"a notable example of this evil is found in
what is known as the American steel trust
under which separate properties, the orig
iral cost of which, it is said, did not exceed
S4GaOGo.lC0 have been capitalized; at the in
comprehensive sum of ST. 400 00O000, ard its
bonds and stocks to that extent placed upon
the markets for sale.
AT the head of that huge concern is a
single individual. whose annual salary is re-
puted TO be round million of dollars, with
a long lire of other officers and agents mu-
nificently compensates for their services,
and still the business of this monster COM
blraton is so managed that 1t pays these
extraordinary sums to its mana gers and
agents. together with most liberal dividends
upon its enormous volume of bonds and
stock.
TT requires little foresight to compre-
herd that in order to DO this it must sell
the output of its business to some of its
customers, at least. at prices enormously
III excess of their actual cost of production.
That this is done TO home consumers is
conciUsively established by the fact that
large quantities OF its products are shipped
abroad and sold in foreign markets at lit
tie more than ore-half the price exacted for
them here.
Peril in Watered Stocks.
THE evil of excessive prices to home con-
sulpers is. not the only one that is threat
ened. If reports be true its watered stocks
foated III every market of the country
and are being absorbed by small purchas-
ers. who will be least able to bear the loss
when the crash comes. for is certain as the
judgment cay for all is the day TO come