The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-12-10

Il Reed was that of the Satir-
st, cynic and dogmatist,
using the word cynic in it's kindlier as
pect. Mr.. Reeds cynicism had no bit
terness in it and no intent of wOunding
others. 1t was q characteristic akin to
the dogmatism of his nature, which
was very strong. He had little of that
courtly tolerance for the opinions Of
others which was, for example, so
marked Il characteristic of William
Mckinley, Mr.. Reeds successful rival
for the presidency. 1t is necessary to
understand this in order to approach
fairly the last communication ad-
dressed by Mr.. Reed to the American
people--his article in the December
North American Review entitled
What Shall We Do with the TARIFF"
His notion of what we should do with
the tariff was that we should let it
alone. Said he with timely terseness:
I'VE are doing more than we'll and need
not hunt for disaster. That will come
you say was the ideal industrial condi-
ton of a nation? Everybody at work.
Just now we have everybody at work.
And yet we think we want something
else If we keep on fussing we shall
get it, But it was less to the tariff
part of Mr.. Reeds article than to what
he says on the subject of trusts--he
calls them corporatiOns-tha we had in
mind to call attention, for it Illustrates
with peculiar vividneSs the dominant
traits in Tom Reeds mentality.
After showing how the big corpora
tions of the present day have evolved
inevitably from the conditions of mod
crn life, less because those who went
into them wanted them than because
they We're forced into them in order to
prevent competition from cutting each
others throats; and after pointing out
that the moment one big concern ex-
hibits evidences Of unusual profits inl-
mediately millions of other capital be-
comes crazy TO get into the same busi-
ness, thus efTectually insuring the pub
lie again eXtortion, he proceeded cut
tngly. and with unmstakable thrusts
at the white house which in his opinion
was never the place that it would have
been had Thomas p. Reed been its oc-
cupant:
The fact is that every business man
now knows that the only monopoly any
body can get, except the temporary one
| of patents, to which no one objects. il by
producing some article cheaper and SELL
ing 1t cheaper than any other maker.
Whether such a monopoly is obnoxious
and to be stamped out leave to the wise
defamation of the friends of the people.
1t would be good plan ii somebody
who believes in the efficacy of Legislation
would sit down and draw his statute and
put into words his constitutional amend
mcnt, and see where he would arrive.
Error" says the wise Latin, turks in
generaltles," To talk of doing some
thing by means of something, il YOU do
not specify the something TO be done or
the way to do it, is q waste of time.
After all the language which has been
used about the great corporations, one is
Il little surprised at the lack of speclica-
tion. Almost everybody announces that
what We need is publicity" Even this
is vague DO YOU expect the public TO be
intrusted with the cost sheets? If you do
not, then what will your publicity amount
to? If you mean by publicity" such II
4
buy wisely, or the stockholder to sell at
the true value, | fear We may he going
beyond the province Of free government
which certainly thus far has left the task
Of keeping his fingers out of the fire TO
the citizen whose fingers they We're.
But cannot we stop this stock-watering?
Must We not do it? Well. the value of
stock Is very much a matter of opinion.
II viii be noticed that the stock of one OF
our greatest companies can be bought for
| less than $40. The par value is SlGo In
The judgment OF the world there Is 80
per cent. water, and in the market tho
water is squeezed out. Could a legisla-
turo do it more eifectually? As that same
stock sold NJ 55, there was time when
there was only As per cent of water, Is
1t proposed in the new constitutional
amendment to specify how often the test
for water is to be applied? Are the stock
holders To be assessed daily tor the yari-
n ations of each day, or are The directors
to he indicted daily? Shall officers OF the
government determine the value, or the
public in open market?
There Is n piece OF wisdom rs old as the
world, which Is worthy of all considera-
tion. Let MS not be i'm haste about great
matters. When you don't know what TO
do, don't do it. Ii the proposition is TO
press an oak back into an acorn, Il had
better be carefully considered.
There you have Tom Reed in his most
representative attitude-the attitude OF
pungent, half-humorous, half-satiriC
criticism, with the dogmatism of tn
giant addressing children. That in his