Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1902-09-24

NanlaSeS from the nations with which
We trade. My point is that changes N
the tariff would have little appreci-
able effect on the trusts. save as they
shared in the general harm or good
proceeding from such changes. No
tarln change would help one of our
smaller corporations or one of our pri-
Vate individuals in business. still less
one OF our wageworkers. as against a
large corporation in the same busi-
ness; on the contrary, If ii bore heav-
lily on the large corporation it would
inevitably be felt still more by that
corporations weaker rivals. while anv
injurious result would OF necessity be
shared by both the employer and EN-
ployed in the business concern.
FREE TRADE.
The immediate introduction of sub
stantial free trade in all articles man
ufactured by trusts, that is. by the
largest and most successful corpora
tons, would not affect some of the
most powerful of our business com
binations in the least, save by the
damage done in tho general business
y.
undoubtedly be seriously affected. but
much less so than their weaker rivals.
while the loss would be divided be
tween the capitalists and the laborers
and after the years OF panic and dis.
tress had been lived through, and
some return to prosperity had oc-
Cured, even though all were on q
lower plane OF prosperity than before.
the relative difference between the
trusts and their rivals would remain
as marked as ever.
I'm other words, the trusts or big
corporations would have suffered rela-
lively too. and in the interest Of its
foreign competitors, but its relative
position toward its American compel
itors would probably be improved.
little would have been done toward
cutting out or minimizing the evils of
the trusts; nothing toward securing
adequate control and regulation of
the large modern corporations. In
other words, the question of regulat
ing the trusts with a view to minimiz
ing or abolishing the evils existent In
them is separate and apart from the
question OF tariff revision
You must face the fact that only
harm Will come from a proposition TO
attack the so-called trusts in a vlndic-
tive spirit by measures conceived
solely with a desire of hurting them.
without any regard as to whether or
not discrimination should be made be-
tween the good and evil in them. and
without even any regard as TO
whether a necessary sequence on the
action would be the hurting of other
interests. The adoption of such a
policy would be temporary damage to
all of our business interests, but the
effect would be only temporary for
exactly as the damage affected all
alike. good and bad, so the reaction
would affect all alike, good and bad.
THE ONLY METHOD.
The necessary supervision and
control in which | firmly believe as
the only method of thoroughly ellmi-
mating the evils of the trusts must
come through wisely and cautiously
framed legislation which shall aim in
the first place 10 give definite control
to some sovereign over the great cor
porations, and which shall be followed
when once this power has been con
ferred by a system giving to the gov
eminent the full knowledge which Is
the essential for satisfactory action
Then when this knowledge-on of
the essential features of which is
proper publicity-has been gained,
what further steps of any kind neces-
sary can be taken with the confluence
borne of the possession of power to
deal with the subject and of thor
ough knowledge of what ought and
can be done in the matter We need
additional power, and we need knowI-
edge Our constitution was framed
when the economic. conditions were so
different that each state could wisely
be left to handle the corporations
within its limits as it saw fit
Nowadays all the numerous corpo.
rations which I am considering do
what is really an interstate business,
and as the states have proceeded on
very different lines I'm regulating
them they are often organized in a
state in which they do little or no
business and do an enormous
business in other states to the spirit
of whose laws they may be openly an
tagOnistic. II might be better III all
the states could agree 10 work along
the same lines in dealing with these
corporations. but I see not the slight.
est prospect Of such agreement.
Therefore / personally feel that
ultimately the nation will have to as
sumo the responsibility OF regulating
these very large corporate concerns.
which do an interstate business. The
states must combine to meet the
problem caused by the great combine