The Indianapolis journal., 1902-09-22
FRANCIS B. POSEY.

BLOOMINGTON, Ind, Sept. 20.-Francis
B. Posey. of Evansville, in his speech here
this afternoon. discussed the trust and
other questions in forceful manner. Re-
garding tariff revision. he said.
THAT too high protection may result In
some few instances In higher cost 10 the
people does not justify the imposition OF
rate too low; for that way ruin lies That
is why we say tariff revision must be IN the
hands OF its friends. But there exists an
other most cogent reason 1he sreatest i uis-
tress of the last Cleveland admnlstrauOh
was not from the final passage or the VII
son tariff, though that was great, put IL
arose from the fact that all business Is an
ticipative Almost all articles are sold Tor
future delivery and some in the long future,
and the price must depend on the cost OF
the materials and labor of their manuiac-
ture. So that, within reasonable limits, one
must know before fixing the price at oe-
livery the cost of production. Inc raw
materials of one manufactures are tne III. s
ished products OF others. So, when IN lss%
the country pronounced for tarin reoucuoil,
no one could know how deep or widespread
the reduction would be. Congress, uhieSs
called in special session, would not meet
for year. Slow process OF IesIsia@.,on @
might still longer postpone action SO pro-
duction halted, business waited ana SIeNs-
land had hardly been seated when panic
resulted, all because free-trade ooctIin-
aires were In the saddle and something
would be done; but what. all human Wis
dom could not tell. Let IL once be known
that radical change will be made IN our
tariff. and the same conditions VIII again
result business will accommodate itself 10
adverse fixed conditions, but uncertainty Is
its death. Let ii be known that after All re-
vision done by friendly hands sun tnere ere
will be enough protection To equaf1ze the
rate of wages paid our labor with wages
paid abroad. and the producer has no un-
certainty to dread and has only 10 meet
the fluctuations In prices TO whicn ne Is ae-
customed.
IF free trade Is not the remedy for
trusts, what is? Regulation? The corpora
tions created by the law must not De pe-
yond its control. But the ARTIFICIAL person
created by the laws of New Jersey builds
factories in Indiana, sails ships upon tne
high seas, runs trains across the ROCKIES,
digs gold in Arizona. And the State that
creates, with treasure in her Golfers from
fat fees for Incorporation, may refuse 10
regulate. Shall Congress? Yes. IL IL has the
power But If it has not? Then give AZ
ample power by constitutional amend
"a revision of our patent laws will do
more, in my judgment. to prevent the ior-
nation of trusts than any tarin legislation,
for most of them have their root I'm the ex-
elusive use of patented machines and pro-
cesses. When Hon. John III. Baker. judge
of our United States Circuit Court, was IN
Congress he introduced a measure that
seems to me would have prevented much
of the evil that Is apprehended: L can only
state in a general way the provisions OF
this bill 1t provided for the issue OF letters
patent to the inventor, as now, but II pro-
vided that any person desiring to make the
machine might do so upon filing. his bond
to the approval of the judge of the United
States District Court for the district where
he proposed to manufacture, condluoneo
that he should pay the inventor or his as
signs a royalty equal to 10 per cent. of the
| cost of the machine to make, or, IL a Pro-
cess, of 10 per cent. of the value of the
! product. 1t was pressed TO passage by him
| through the House of Representatives, but
| killed in the Senate. His successor, Mr..
! Calkins, also got it passed through the
| House, when 1t met the same fate in the
| Senate. Mr.. Calkins, having been succeeded
| by Populist. the measure dropped from
| sight 1t would have a better chance now
| think.
1.-The inventor would realize more for his
| invention, for very few realize much And
| the people, the mechanic especially, would
| derive immediate benefit. You give man
| for seventeen years the exclusive right tc
make a thing and charge what he pleases
| and so rapid is the progress Of invention
| before the time expires something else
| supersedes 1t; and the public, in the mean
| time. has been subject to an extortion nc
| tariff could equal Let us protect the In
| ventor, but let there be competition in pro
duction Of the patented article"