The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-09-23

smaller competitors and all the wage
workers employed in the industry. This
point is very important, and it is de-
sirable to avoid any save wilful mis-
understanding. / am not now consider
ing whether or not on grounds totally
unconnected with the trusts. it would be
we'll to lower the duties on various
schedules, either by direct legislation, or
by indirect legislation, or by treaties de-
signed to secure as an effect reciprocal
advantages from the nations with which
we trade My point is that changes in
the tariff would have little apprec1able
effect on the trusts save as. they shared
in the general harm or good proceeding
from some changes. No tariff change
would help one of our smaller corpora |
tons. or one of our private individuals
in business. still less one of our wage
workers, as against large corporation
in the same business; on the contrary, if
it bore heavily on the large corporation,
it would inevitably be felt still more by
that corporations weaker rivals while /
any injurious result would of necessity, |
be shared by both the employer and en-
ployed in the business concerned. The |
immediate introduction of substantial /
free trade in all articles manufactured by |
trusts, that is by the largest and most |
successful corporation, would not affect |
some of the most powerful of our bust
ness combinations in the least, save by |
the damage done to the general business
welfare of the country; others would un
doubtedly be seriously affected, but much !
less so than their weaker rivals. while /
the loss would be divided between the
capitalists and the laborers, and after .
the years of panic and distress had been
lived through, and some return to pros
perity had occurred, even though all were |
on a lower plane of prosperity than be-
fore, the relative difference between the
trusts and their rivals would remain as
marked as ever In other words, the
trust, or big corporation, would have
suffered relatively too, and in the in
terest of, it's foreign competitors; but its
relative position towards it's American
competitors would probably be improved;
little would have been done toward cut
ting out or minimizing the evils in the
trusts; nothing towards securing adequate
trade and regulation of the modern cor
porations. In other words the question
of regulating the trusts with a view to
minimizing or abolishing the evils extant
question of tariff revision.
THE REMEDY HE PROPOSES.
Il, personally, feel that ultimately the
nation VIII have to assume the respon-
sibility of regulating these very large
corporations, which do an inter- State
business.
The States must combine to meet the
great combinations of capital; and the
easiest way for the States to combine
is by action through the national gov
eminent. | am we'll aware that the pro-
cess of constitutional amendment is ne
ceSsarily slow one, and one which our
people are reluctant to enter, save for
the best reasons, but | am confident that
in this instance, the reasons exist. / am =
also aware that there will be difficulty
in framing an amendment which will meet
the objects of the class and yet which
will secure the necessary support. The
very fact that there must be delay in Sc
curing the adoption of such an amend
ment insures full discussion and calm
consideration on the whole subject and
will prevent any i'll considered action.
Without the adoption of constitu-
tional amendment, my belief is that a
good deal can be done by law Such
legislation whether obtainable now or
obtainable only after a constitutional
should provide for a reason
able supervision, the most prominent
feature of which at first should be pub
licity; that is, the making public both
to the governmental authorities and to
the people at large, the essential facts,
in which the public are concerned. This
would give us exact knowledge of many
points, which are now not only in doubt,
but the subject of fierce controversy.
Moreover. the mere fact of the publ
cation would cure some very grave evils,
for the light of day is a deterrent to
wrong doing.
II advocate action which the PreSi
dent only can advise. and which he has
no power in himself to take. Under our
present legislation and constitutional
limitations the national executive can
work only between narrow lines in the
field of action concerning great corpor-
ations. Between those lines 1 assure you
that exact and even handed justice will
be dealt, and is being dealt to all men,
regard to persons
After the meeting the Presidential par
ty was driven to the Cincinnati, Hamil-
ton and Dayton depot direct and their
special train left at midnight for De-
troit.
Profs. Burchett and Stevens of the A.