Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1902-10-02
BO|ES WRITES HIS
OWN PLATFORM
He favors a Radical Reduc-
ton of the Tariff
Schedules.
GOVERNOR ARRAlGNS TRUSTS
Says the Remedy Lies in Gathering Down
the Wall That shelters Them and Com
2eiling Them to Compete with the
World at Large.

Waterloo, Sept. 25.-Former Cover.
nor Horace Boies last evening made
public his letter accepting the demo.
cratic nomination for congress in the
Third district. The document is some.
what remarkable for two things. In
the first place II is much shorter than
the usual documents OF the character
which have been put out by the COVER
nor. In the second place 1t is devoted
entirely to trusts and the tariff. The
trusts are severely denounced, and the
only adequate remedy for the evil
with which they are charged is de.
clared to be removal of the tariff
from trust made goods. In full, the
letter follows:
"Messrs. ]. J. Quigly, Henry PARROT
and l.. F. Springer-Gentlemen
Yours of the 18th inst, officially mott.
flying me of the action of the recent
convention at Dubuque, in unanimous.
ly selecting me as the democratic can.
| didate for congress in this district.
and expressing the hope that | would
| accept the same Is received.
In no sense unmindful of the honor
such nomination confers, or the
kindly feelings of those who tender
it, | want to consider the question il
presents from the standpoint of duty,
which every citizen in government
| like our own owes TO the common
| wealth of which he is a member.
In doing this | am compelled to
| recognize the fundamental principle
upon which our institutions rest that
the source of all official authority from
the lowest to the highest of public ser
10 tho nnnnln onA thiQ hainp
| true, it seems necessarily to follow
that they, through the sources nearest
the seat of that power, should, in the
absence of reasonable excuse on the
part of candidates. be permitted to sc.
| lect those whom they desire to repre-.
sent them in public positions.
Il beg therefore to assure you that
| profoundly impressed as | am by the
| responsibilities my nomination i'm
poses, and grateful as shall ever re-
| main for the confidence it implies,
feel 1t is a matter of duty on my part
| to accept the same regardless Of any
| personal desires of my own.
IN doing this it seems appropriate,
II not necessary. inasmuch as no plat.
form of principles was suggested by
the convention from which my nom.
ination comes, that | should at some
length indicate my personal views on
| what seems to me the most important
| question that now agitates the pubic
mind.
This, in my judgment. is the IA.
| tons duty in dealing with the great
combinations of capital that have been
| and are still being rapidly organized
in many of our Industrial pursuits,
and which have come to be general.
| ly known as trusts
1T Is no eXaggeration to say the
| great mass of our people are greatly
| disturbed by what seems to them the
| impending evils of this new departure
in so many OF our business enter
| prises.
1.-THE serious question that confuses
and hopelessly divides us is the rem
eay that must be found for the dan.
gers they threaten.
/ In approaching a solution of that
question we should endeavor to cor.
rectly comprehend its exact nature.
ITO do this IL is necessary to first
| understand of what a trust in the or
binary acceptation Of that term con-
| sists.
| ''In its most Objectionable form. it is
| a combination of the properties of con-
siderable numbers of individuals or
corporations, originally operated indie
! pendently Of each other. into one
larger corporation controlled through
| it's officers by single manager.
The dangers which result from
these greater combinations are more
| that one.
THE mere statement of their con-
stituent parts demonstrates that they
must Of necessity limit, IL they do not
destroy, competition in every line Of
business in which they are organized.
Another is the established fact that
| separate owners of distinct properties
who consent to merge the same in the
common property of a greater COM
| Dination, and accept in lieu thereof. az
| Is usually done, the bonds or stock OF
| the new corporation, universally insist
| upon exorbitant estimates of the
values of that which they contribute,
| thereby compelling the managers of
| the new enterprise to so conduct its
business that 1t will pay reasonable
dividends at least on its enormously
| wa cred stock.
"A notable example of this evil is
found in what is known as The Amer
| lean Steel trust under which separate
properties, the original cost of which
| It is said. did not exceed four HUI
dred million dollars. have been cap
italized at the incomprehensible sum
of fourteen hundred millions, and 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 reputed to be a round mil
lion of dollars, with long line of other
officers and agents munificently COM
pensated for their services, and still
the business OF this monster combina.
ton is so managed that IL pays these
Charged With Robbing Cars.
KnnInknn LII Iisnatnh. IN rlo.