Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1902-06-05

lu6TCldl OISdulHdtlo1, III IuC WOIlu
history. If it fails it will be a great
benefit to the country by the discus
sion engendered and the education of
our people on industrial and financial
lines.
Railroad Combinations.
J. J. Hills recent operations has
brought this question prominently be-
fore the public mind. For the bene-I
fits derived from railroad combinations
and trusts quote Mr.. Hills recent ut
terance in the May Independent:
IT know of no theory so fallacious as
the popular conception of the nature
and purpose of the consolidation Of
wealth.
consolidation of wealth does not
mean the boarding of money in bag
that its single possessor may delve up
to his armpits in it. 1t means rather
the effective organization of effort
the intelligent use of money which
representes exerted physical or men,
tai energy.
'No man grows wealthy along broad
and legitimate lines without turning
the resources of nature into remunera-
tive channels of usefulness for the tai
ents of other men. For instance: Lit
tie more than dozen years ago some
fifteen counties in North Dakota were
without population or land value. To
day these counties have population
of 10000, land value of from SIS to
$25 an acre, and a property valuation
of $26O,O0OOOO and almost unpreced-
ented per capita amount of $3.50.
To ,hot -, wi <f
wealth due? First, to the enterprise
of that effective organization of eff
fort known as the Great Northern
Railway company; second, to the in
dustry and thrift of the settlers. and
third, to the fertility of the SOIL
"Who has benefited by this wonder
full transformation OF the condition of
both people and country? First 10000
persons, who have been enabled to lift
themselves from poverty to affluence;
second, the American nation, which
has been enriched to the extent of
S260,00OO0O; and third, the Great
Northern Railway company, which has
built up splendid traffic.
when the Chicago, Burlington and
Quincy Railroad company was taken
into the Northern Securities company
some two thousand of it's eighteen
thousand stockholders owned five
shares eac, and three hundred owned
one share each. The Northern Secur-
tiles company the formation of which
was prompted by a pure business mo-
tive, is combination to lower and not
a conspiracy to advance rates"
If the objects as stated by Mr.. Hill
are carried out, the public will be well
served, but federal and state laws
should be rigidly enforced to hold in
check and suppress the abuses that de-
corporations. If the laws are not en-
forced it is from lack of public senti-
ment in not demanding it. If Mr.. Hill
by his railroad merger plan can organ
ize the railroads of the northwest and
control the shipping facilities of the
Pacific so that American products can
compete in the markets of the Orient
| it is benefit to our country, and if
! Mr.. Morgan can consolidate the rail
roads of the east with the shipping in
terests of the Atlantic and deliver the
products of Iowa in London on basis
| to compete for the trade of the world
| it Is wiser course than Mark Hanna S
/ scheme to substitute the building OF
| ships out of the government treasury
| While there is much injustice in the
management of railroads, we are slow
to give credit for the inestimable bene-
| fits they are to the country at large.
Abuses of Trusts.
The greatest evil or abuse of trusts
or combination of capital is over-cap
italization and the issuing of waterefl
stocks. By this method innocent pur
/ chasers are defrauded and suffer fin
ancial loss.
| Another abuse of trusts is the ten
dency to buy, force, or starve out the
small and independent manufacturer
/ in the same line, but this is no more
i dangerous in the long run than fierce
/ fight by competition for supremacy. Ii
which case the longest purse always
i wins.
An abuse largely on the part of rail
roads is the giving of special favors
and rebates to large corporations and
i trusts, discriminating against the
! smaller shippers and distributors.
II We have on our statute books both
state and federal laws that would
4 control and suppress all these evils
III they were rigidly enforced, but they
are continually violated and the prac
| tice breeds contempt for and disregar,
of all law, which is the school of anar
ichy.
4 A far reaching abuse in the central
ization of wealth by combination OF
trust is the inexplainable, silent anc
subtle power of money. This power
increases with the increase of wealth
1t regardeth not honor or manhood
statesman or peasant, Christian OF
patriot. All are in danger of becom
ling slave to this power, in which Ii
the root of all evil.
Il l note as final abuse in the new
conditions, the increased difficulty fol
the young and independent citizen.
to rise to place of prominence o.
profit in commercial affairs. To re
tain the benefit and suppress thu
abuse in these new conditions is on
duty. The best means of accomplish
ing it is the problem. Ny conclusion
is that it lies in government control o
all combinations and trusts, or cen
tralization of capital for the contro
of commerce and transportation on in