Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-09-25
BO|ES' GIVES HIS WEN
Third District Candidate Con.
structs Platform on Which
He Will Stand

AAC WA1A 0t0uO
IT CONTAINS BUT TWO PLANKs
Letter Of Acceptance Devoted Entire.
ly to Discussion of Tariff and
Trust Evils-The Iowa State Dem.
ocratic Platform Endorsed in Every
Particular.
Waterloo, Sept. 25.-Former Governor
Horace Boies last evening made public
his letter accepting the democratic
nomination for congress in the Third
Iowa district The document is some
what remarkable for two things. III
the first place it is much shorter than
which have been put out by the gov
ernor. In the second place it is de-
The trusts are severely denounced, and
the only adequate remedy for the evil
with which they are charged is declared
to be a removal of the tariff from trust
made goods Several paragraphs of the
letter are devoted to the steel trust, and
it is held up as the elimination In the
present day of the inquiries Which
these combinations OF capital are
charged With bringing upon the people
IT. full, the letter follows:
Messrs. p. j. Quigly, Henry PARROT
and l.. +. Springer--Ge Yours
of the 18th inst, officially notifying me
of the action of the recent convention
at Dubuque, in unanimously selecting
me as the democratic candidate for
congress in this district, and expressing
the hope that would accept the same,
is received.
In no sense unmindful of the honor
such a nomination confers, or the kind
ly feelings of those who tender 1t,
want to consider the question 1T pre-
sents from the standpoint of duty
which every citizen in government
like our own owes to the commonwealth
Of which he is a member.
In doing this am compelled to rec
ognize 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, 1t
seems necessarily to follow that they,
thru the sources nearest the seat OF
that power, should, in the absence OF
reasonable excuse on the part of candi-
dates. be permitted to select those
whom they desire to represent them In
public positions.
I beg, therefore, to assure you that
profoundly Impressed as am by the re-
sponsibilities my nomination imposes.
and grateful as / shall ever re-
main for the confidence IT implies, feel
1T is a matter of duty on my part to ac-
cept the same, regardless of any per-
sonal desires of my own.
In doing this it seems appropriate, II
of principles was suggested by the con-
vention from which my nomination
comes, that should at some length in
dictate my personal views on what
seems to me the most important ques-
Trusts an Issue.
This, in my Judgment, is the nations
duty in dealing with the great combin-
ations of capital that have been and are
still being rapidly organized in many
of our industrial pursuits, and which
have come to be generally known as
trusts"
1t is no exaggera ton to say the great
mass of our people are greatly dis
turbed by what seems to them the Inn
pending evils of this new departure in
so many of our business enterprises.
The serious questions THAI confuse
and hopelessly divide us is the remedy
that must be found for the dangers they
threaten.
In approaching solution of that
question we should endeavor to correct
ly comprehend It's exact nature.
To do this 1t is necessary to first un-
deritand of what a trust in the ordinary
acceptation oe that term consists.
In it's most Objectionable form, 1t is
a combination of the properties of con-
siderable numbers of individuals or cor
porations, originally operated inde-
pendently Of each other, into one larger
by single manager.
The dangers which result from these
greater combinations are more than
one.
The mere statement of their sonstit-
uent parts demonstrates that theG must
of necessity limit, If they do not de-
stroy, competition in every line of bus
mess in which they are organized.
Another is the established fact thai
separate owners of distinct properties
who consent to merge the same in the
common property of a greater combi-
nation, and accept in lieu thereof, as 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 it's business
that it will pay reasonable dividends al
least on it's enormously watered stock
The Steel Trust.
A notable example of this evil Is
found in what is known as The Ameri-
can Steel Trust" under which separate
properties, the original cost of which ii
is said, did not exceed $400,000,O00, have
been capitalized at the incomprehensi-
bic sum of $1,40O.O00,O0O, 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 million dollars