Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1902-12-18
THURSDAY, DECEMBER IS, 1902.
THE TRUST ISSUE.

great trusts, which have been steadily
increasing in number. Notwithstand-
ing the fact that President Roosevelt
declared in his recent message that
"the cases in which the tariff can pro-
duce n monopoly are 80 few as to
constitute an inconsderable factor IN
the question:" the people know full
we'll that the protective policy has
been the great promoter OF trusts and
that under this policy and because of
IT,, trusts have become strong and
powerful and are in n great measure
responsible for the Ills under which
the country Is now grooming. Indus
trial statistics prove that high duties
on imports imply, not increased
wages for the laborcr, but increased
prices for articles Of domestic manu-
facture, and the formation Of cOmbin-
ations to control the supply and price
OF commodities. The New Y DIRK Jour.
nal OF Commerce and Commercial
Bulletin In u recent editorial article
shows that "the opening Of congress
leaves no doubt that the party in
power stands committed to the mono
polistic cause" and adds
How far that IL true OF the rank and
file OF the party remains for future
demonstration. AS possibly as not,
there may prove to be, In that quar-
ter, the clements of an uncomfortable
split.
Already, 1t is plainly evident that
the Republican leaders favor n policy
of palliation, of evasion, of qualified
intervention and regulation, Of tolcr-
alton under pretence of disallOwance
and Of reducing interference to u min
imum. The number Of trust bills in
PRODUCED In the house has been uncX-
pectedly small, and not one Of them
can be regarded as an earnest
measure.
Much more serious in It's signh-
canoe IL the attitude Of the president &
message. For the first time, Mr.
Roosevelt has shown himself capable
Of yielding his will 20 the behests of
party leaders. His itincrAnt address
On had been enthusiastically welcomed
as evidence that the party Of capital
has fallen under the challenge Of a
statesman who has the courage and
the prudence to impose restraints up
on the threatening ambitions of his
party. This attitude had won for him
n position Of strength In both parties
which made him the strongest man In
the country and placed his reelection
within easy reach. Strange TO say,
his late message casts TO the winds the
asccndancy he had so marvelously
won and, by yielding TO the remon-
strancos Of party leaders, he has sur
rendered his political nsccndanCy,
sacrificed his reputation for courage,
subjected himself TO the distation of
partisans of low morals and disap-
pointed the rising hopes of the coun-
try that at last it had found II savior
on whom 1t might depend for averting
the dangerous drifts of the times. |
The presidents new illusions to the
trusts are SO gingcrly, SO evasiye and |
so ineXplicit MS to leave II quite I'M
certain how much or how little he |
means, and 1t Is no longer safe TO
count upon him rs an effective fac |
tor In the settlement OF this question. !
From present Indications, therefore, |
congress opens with little promise of
any early legislation dealing with |
this all-important issue. The Opposi- |
tion are quite willing that the pros}I
pcct should stand thus. They cor
roctly enough reckon that an effective |
regulation Of monopoly Is earnestly
demanded by an overwhelming ma ior-
ity of the people, and conclude that
the failure OF the Republicans to pro-
vide n satisfactory solution would
give the presidency and the house to
the Democracy, Even in that upshot,
however, 1t is doubtful whether coop
Grafton from the senate could be
secured
This Is far from being an assuring
situation, 1t implies one of two
things, either that the Republicans
leaders are ignorant OF the growing
anger OF the public against the mono
poles, or that, whilst we'll aware of
this popular hostility, they are re-
solved to stand 10y the ininitcsimal
millionaire minority and disregard
tho will Of the overwhelming middle
and lower classes,
In either case, the party Is demon
strating it's Incompetence to deal with
this question To the public satislac-
uon; and the outcome of its action
can only be expected TO hc first fail
urc, then the prolongation of the
struggle under conditions Il public
evaporation, and then form OF pub
lie disturbance from which the im-
agiuation shrinks.
nmtstakablo symptoms are appar-
cut of the beginnings of n reaction
from the great advance In prices of
the last five years, which will prove II
sharp test of the unsound conditions
that have found recent lodging in
trade.
Concurrcntly, we have to face the
consequences of the greatest huan-
cial imitation that has ever hap
pened in the United States. Within
the last five or six years some -four
thousand millions $1,000 900 900 of tic
titious stocks have been placed on the
market aud these acQucous creations
are still in process of issue. Money
is perslsteutly stringent; we are called
upon to liquidate large amounts of
our securities returning from Europe
and are large current borrowers in
London, Germany aud France. One