Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1902-03-06
THE GRIP OF 1T.


eomment on the attempt made by Ihe
Commissioner of Internal Revenue TO
enforce one of the provisions Of law
} pf the United States upon the trans
actions of the Stock Exchange In New
York. We recounted how his effort in
This matter,-and which amounted to
no more than a mild request, was met
by uncompromising defiance on the
part Of the brokers' and declaration
by them that they did not intend TO,
and would not, obey the law.
That was the end of. the affair. The.
Collectors promptly drew off their
forces, with an humble apology for
their intrusion.
Within As hours after the conclusion
of this fiasco, Wall Street was treated
TO another spasm, and from a cognate
cause.
The President had directed his At
Lorney General to bring the Northern
Securities Company into court, to test
The validity of its proposed merger of
railway interests in the Northwest.
Ut was not an extraordinary thing, to be
sure, for a law officer of the govern
ment to begin proceedings against
persons charged with being offenders.
It is done every day against poor
Hevlls who send improperly worded
Running letters through the mails or
use postage stamp twice over; and
no one lifts up his voice except the
person hit and he does 1t in vain. But
not so In New York. This financial
bulwark Of the Nation, this locality
10 which the people constantly are
assured of their great Indebtedness
for steering us clear of panics, and for
obeyng the laws Notwithstanding the
wiles of the wicked and wretched
Bryan, and for its general SAVIOR OF
grace and as II tower of strength to
the public welfare and morals. was
shaken TO its foundations. 1t had more
than chill--a genuine "rigor;' ii
became panicky; captains of finance
hastened to unload the market fcl
off 3 or points the next morning, nnc
the echo of the shiyer was felt IL
London, where Americans" slumped
or course the people To be affected
by the suit directed by the Presidcn
did not for n moment propose to lc
the law take its course, MS II does will
pthers,-they being the ones who il
the campaign of 1896 threatened mo
10 abide by the result" II II shoul,
he against them. They adopted tn
usual tactics of going TO Washlngto
TO "sce about IT," An ordinary culprl
Is moi permitted to argue with In
District Attorney as TO the prophet
Df his being prosecuted, and much les
can he exact Il promise that he Wi
be let alone.
The dcputalion that visited Wasl
,ngton did more than this they gay
the Attorney General the go-hy, anC
pushing right past him. they went I
the White House and told the Pres
dent that any attempt on his part I
apply TO the trusts represented h
them the proceedings contemplate
against the Northern Securities Con
pany would be to "shovc the whoI
financial fabric of the country ov,
the cllf.' A simple man might thin
that If the staying OF the "nnuncu
fabric on top of the cliff dependc
upon successful evasion or dlsobed
ence of law, 1t might, in the Ion
run, be just MS wcl for the credit ,
the country, and certainly for It's mo
ality, TO let IL go over, and build
apN AhUiit 'hpHblt VI remaining
the cllff and keeping within the Ia
ut the same time.
But the President, 1t seems, did n
look at 1t in that light. According
@ Washington dispatch TO the Ne
York Herald, he "will not counte
snce an attack on the industrial col
binations similar TO that which
ordered made on the Northern Secu
ties Company"
II is very difficult to see why ra
rond trust is any more under the b,
OF the law than any of the social
industrial combines. The law certaI
~ makes no such distinction. And
principle, II Immunity is to be given