The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1902-10-03
BOIES IN THE FIELD.
Accepts Nomination for Congress on
Democratic Side.
Former Governor OF Town Gives His
Views on the Tariff and the
Trusts in Formal Letter
of Acceptance.

made public Wednesday, september
"a, former governor of Iowa, Horace
| Boies, consented to become the dem
ocratic nominee for congress from
| the Third district. He accepts the
nomination, he says, as a matter OF
duty.
He says he regards the nations
attitude in dealing with the trusts
| as the paramount question before the
| people and emphasizes his conviction
that the present high protective tar
| iff is historically and logically the
mother of trusts and responsible for
| the unique and overshadowing evils
which threaten the country.
| He urges the futility of legislation
| other than tariff reduction to restrain
the ravages of the trusts and cites
the fact that the majority of these
| combina tons have been organized
openly in the face of carefully pre-
| pared antitrust laws. He pledges
himself to unrelenting and unremit-
ting war Oh the trusts and gives his
| full Endorsement to the Iowa demo
cratic platform.
Text OF the Letter.
|
| as follows:
| waterloo, Ia, Sept. 22.-P. J. Quigly,
| Henry Parrot, L. F. Springer, Committee,
| Etc.-Gentlemen: Yours of the 18th inst Of
| ficially notifying me of the action of the re-
| cent convention at Dubuque in unanimous
| ly selecting me the democratic candidate
| for congress in this district and expressing
| the hope that 1 would accept the same is
| received.
"In no sense unmindful of the honor such
| nomination confers the kindly feelings
| of those who tender 1t, / want to consider
| the question it presents from the stand
point of duty, which every citizen in gov
| eminent like our own owes to the common
wealth OF which he is member.
1 'In doing this am compelled to recog-
| nize 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, through sources nearest
| the seat of that power, should in the alb
| sence of reasonable excuse on the part of
| candidates, be permitted to select those
! whom they desire to represent them in pub
lie positions.
Accepts Nomin alton Duty.
81 beg, therefore, to assure you that. pro-
| foundry impressed s l am by the response
| bilities my nomination imposes and CRATE
full as 1 shall ever remain for the Confidence
it implies. 1 feel it is a matter of duty on
| my part to accept the same regardless of
| any personal desires of my own.
I'm doing this It seems appropriate If n OF
| necessary inasmuch no platform of
principles was suggested by the convention
from which my nomination comes, that l
should, express my personal views on what
seems to me the most important question
that row agitates the public mind
This. in my Judgment, is the nation s
duty in dealing with the great combinations
of capital that have been and are still be-
- To-,
trial pursuits ard which have come to be
generally known as trusts
at is no eXaggeration to say that the
great mass of our people are profoundly
disturbed by what seems to them the i'm
penGtng evils of this new departure in so
many of our business enterprises.
1.-The serious question that confuses and
nopelessiy divides is the remedy that
must be found for The dangers they
threaten.
I'm approaching a solution of that ques-
/ ton we should enoeavor correctly to COM
prehend its exact nature.
Trusts and Their Evils.
ITO do this it IS necessary to understand
first of what trust, in the ordinary ac-
Ceptation of that term. consists
In its most objectionable form 1t is a
combination of the properties of consider
| able numbers of individuals or corpora
tiors, originally operated Independently Of
each other, into one larger corporation
|
| manag cement.
1.-THE dangers which result from these
greater combinations more than one.
| THE mere statement of their constituent
| parts demonstrates that they must of
necessity limit, if they do not destroy,
competition in every line of business in
| which they are organized.
Another is the established fact that sep
arate owners of distinct properties. who
consent to merge the same in the common
| property of a greater combination ard &C
cept in lieu thereof, a. is usually DONE the
bonds or stock of the new corporation, uni
| versally insist upon exorbitaht estimat es
| of the value of that which they contribute
| thereby compelling the managers of the
new enterprise so to conduct its business
| that it will pay reasonable dividends al
least on its enormously watered stock.
Analyses the Steel Trust.
"a notable example of this evil Is found In
what is known as the American steel trust
under which separate properties, the orig
| inal cost of which, 1t is said. did not exceed
S4oc,0oo,oco, have been capitalized at the in
comprehensive sum of 81 400 0d0.t1O, and its
bonds and stocks to that extent placed upon
the markets for sale
cat the head of that huge concern Is a
single Individual whose annual salary is re-
| pute6 TO be a round million of dollars, with
| a long lire of other officers and agents mu-
| Efficiently compeSsateS for their services
| ard still the business of this monster com
|
extraordinary sums to its managers and
agents, together with most liberal dividends
upon its enormous volume of bonds an6
| stock.
~; requires little foresight to compre-
herd that in order to 60 this it must sell
the output of its business to some of its
customers, at least. at prices enormously
In excess of their actual cost of production
THAT this is done to home consumers 1:
corciusively established by the fact thai
i. | large quantities of its products are shipped
abroad and sold in foreign markets at lit
tie more than one-half the price exacted fol
| them here.
Peril in Watered Stocks.
1.-THE evil of excessive prices TO home con-
sumers Is not the only one that is threat
| sne6. If reports be true its watere6A stock:
/ are hnate6 in every market of the cnIin 7,