Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-10-09
Address at the Annual Dinner OF
the Republican Club Of
Massachusetts
REMEDY FOR THE TRUST EVIL
The Publicity Idea Commended as
Wise and Helpful, But Not UnIim-
tied in Its scope-Wonderful Indus
trial Progress, Notwithstanding the
Evils Of Which We Complain.


interest was attached to the annual
dinner of the Republican Club of Mas
sachusetts at Symphony hall last night
from the fact that the club had for its
guest Leslie NJ. Shaw, the secretary of
the treasury. Seven hundred men oc-
cupied seats at the dining tables, and
the two large balconies were filled with
spectators, the majority of whom We're
women.
Eben S. Draper, president of the club,
acted as POSTMASTER at the dinner, and
the speakers included, besides Mr..
Shaw, Governor w. Murray Crane,
Lieutenant Governor John l.. Bates, the
republican candidate for governor, and
Senator Henry Cabot Lodge.
When Mr. Shaw was introduced as
the man who had met problems in such
a way as to receive the praise of the
people, he was given magnificent re-
ception.
Secretary Shaw spoke on trusts and
possible remedies for the trust evils
which would not destroy useful indus
tries.
The secretary said in opening that
the best statesmen of the democratic
party had tried to frame an anti-trust
law and had failed.
The old style trusts. wherein trustee
took charge of the affairs of several
concerns, he said vanished before the
Sherman law, which has been the only
effective legislation.
The Sherman act had not been on
4 hon,
conceived the idea that a great corpor-
alton could be organized which should
own more than one concern, or p1ant,
or factory. Under this method compet-
itors sell to large corporations created
for the purpose. usually taking stock in
the new organization sufficient to cover
the price agreed upon for the plant sold.
This method continues at the present
time"
The speaker quoted the vital points
of the Sherman law, the democratic
theories advanced and the efforts made
10 apply remedies. Regarding the lat
ter, he said:
Let no man misunderstood me.
There may be, believe there is. states
manship now in congress that can i1n-
prove that law. am not here to say 1t
can not be done, but I am here to de-
clare to you, gentlemen. that if it can
be done it will be done!eand that right
early only insist that the time has
arrived to relax a little on resolutions
and partisan denunciation, and begin
looking at the thing thru calm, dispas-
sionate and non partisan eyes.
IF am correct in my analysis of the
law. the law is not altogether at fault.
The difficulty lies in Its enforcement.
And wherein does this difficulty exist?
/ answer, in the evidence necessary to
prove a violation of the law sought to
be enforced"
Secretary Shaw explained how 1t was
first argued that local legislation should
regulate trusts and then urged that fed
eral power should be eAerted, all with
cut any material results. Touching up-
en- publicity as a cure he said:
IF corporations are compelled to
make public the details of their BUSH
ness, the actual money cost of their
plants, prices paid for material, oper-
obtained for product, both gross and net
profits, 1t will be constant invitation
to enterprise and capital, of which we
nave All dDuIludilCe " eIlSaSc III SOlAis
petition. This is the reT ady so earn
estly recommended by our wise and
conscientious president"
This remedy, however, he explained.
was limited in its scope.
The tariff abolition or tariff reform
remedy Mr.. Shaw discussed at length
and argued that free trade was not the,
way, as many so-called trusts. which
he specified, We're not protected, and
regarding the United States Steel Cor
poration he said it published it's BUSH
ness affairs freely, while it controlled
less than half of the iron business of the
country.
In conclusion Mr.. Shaw said:
I'VE are making wonderful indus
trial progress, Notwithstanding the evils
of which we all complain. In 100 years
prior to the election Of William McKin-
ley we had sold abroad more than we
had bought abroad, and had for our en-
richment balance of trade of $780,
100000 to show for this 100 years. But
since 1897 we have sold more abroad
than we have bought abroad: not at the
rate of s4OO,O00,OO0 in 100 years, but
more than s5OO,O0O,oOO per annum. Not
s4O0.OOO,O00 in 100 years, but $2.SOO,-
100000 in five years"