The Montgomery advertiser., 1902-05-18
STORM CLOUDS IN IOWA.
Gov. A. B. Cummins of Iowa Speaks
 Out on Trusts.

S0s VA Se>>S~~
 Baltimore Sun.
 There seems to be somsthing in the air in Iowa that develops iconoclasts among Republican Party leaders Hardly has Secretary of the Treasury Shaw un. leashed few of his innermost thoughts concerning the motives underlying the war with Spain than his successor as Governor of Iowa. Hon. A. B. Cummins. begins to tear of the Republican mask In a speech in Minneapolis. Governor Cummins regaled his hearers with sent- iments of which the following is fair sample:
 '.The American people will no more submit to commercaal despotism than they would to governmental despotism, and the tendency in the one case can be and will be as easily thwarted as the
 His subject was 'Trusts," and he d. rected his attention to one of the roots of the evil by soundly condemning the issuance of watered stock. He believes. he says that if Id stock unless paid for in money at its par value. many of the present combines would not have been enected In the same protective line MT. Cummins would the power to fix the prices of products or service upon which a monopoly or substantial monopoly has been estab- lished. Carried into execution. these Du86C0AQAtS edial effect. although they mays be easier to theorize on than to practice. But the suggestions come from man who Is said to have had the Washington administration's support in his canvass for Governor. and are therefore to be weighed as important.
 While these utterances are worthy or consideration in view of their source, there Is still another which will come as thunder-clap to the worshipers at the shrine of high protection. This is what Governor Cummins says:
 T believe, too. that some branch of the move the duties upon imports upon these commodities respecting which competition no longer exists in our own country. l have long been a most devoted adherent zeal for 1t has increased rather than di- unfinished with the progress of time. Nevertheless. believe that the con sumner has better right to competition Competition we will have. that of our country preferred. but that of the world
 Within the last three or four years perity and let by the kings of com merce has prospered and has been en- deavoring to accomplish objects which are intolerable in free country. which ranny. The fundamental law of a healthy, vigorous. enduring industrial life is competition.
 There are but two forces which can safely be trusted to regulate industry and commerce. The flrst is competition; the second law"
 Governor Cummins then pointed to the United States Steel Corporation, stating see its nucleus. the Carngde Company. win great victories through enterprise and brains; but the warning came when the absorbing company apeared, first to kAk. a... k r.A vast quantities of fictitious stock that represented nothing but the audacity of the sellers and credulity of the buyers" The superstructure built upon water is In danger of toppling after 1t has crush ed out the life of competition.
 Such sentiments as the Governor of Iowa expressed at Minneapolis seem to be the distant warning of a political storm. The protection temple is already swaying and the fall elections may wit ness its collapse.