The Appeal. [volume] (Saint Paul, Minn. ;) 1889-19??, 1902-07-19
SENATOR NELSON'S ADDRESS
Opening Gun Of the State Campaign Fired by the
Senior Senator

to the par value OF the bonds deposited,
and by permitting the establishment Of
s DanK KS with only $4,000 capital in the
near to the homes Of the people -"
Ihls act extinguisheu the silver heresy,
ana Tba put pat,, US once for all on gold bass
IN IN, the ne act Ct has proved a great success;
a debt a an TO- S9s1 ,o7o,34o, and Of this
S4oo,94O, 100 was in the new bonds, thus
reducing our interest charge by several
On the 18th of March, 1900, when this
act was passed, there were in existence
SS,65l7 ~ NATIONAL banks, with a capital of
o9S s s With ,a an outstandins cir
OF Ma% +6 OF anS on o 1hs 18th
with a capital Of sG76, 6,695 and a circu-
lation of 1851, 115, 1856, of which banks SO
the aef It eas for in
been an increase Of ST. banks, $50, G1o, 600
in capitaI snq in circulation
Our treasury is in the most prosperous
condition-the envy and wonder of other
nations. :
The fiscal year ending yesterday closed
and on the Both day Of June. 1909. there
was in the treasury over and above all
the $4,000, OO0 gold redemption fund.- a.
balance of nearly $2o0,O00,OO.
During Clevelands administration we
were debtor nation. suffering with gold
Withdrawals to Europe, and had great
difficulty, and had to borrow, to maintain
the gold redemption reserve.
plces, we have become creditor nation,
the large balance Of trade has turned the
tide of gold to our shores in great album;
dance, and we have become the financial
center. of the world. Money is plentier
and interest lower here than in any other
country. and to-day our country domi-
Under the leadership of Washington we
gained our political independence: and un--
Ger 9o. the Leadership Of Mckinley and
and financial independence.
One of the important and engrossing
questions pressing the American people
in recent years, and at the present time
is that Of trusts and monopOlies, and how
to regulate and control them so as not to
become oppressive and our masters. We
and industrial revolution. Old methods,
on a numerous, but in each case limited,
scale have given way to new methods
scale.
The tendency Of the age is combination
and concentration, and where the chief
duction so as to cheaper the most to the
consumer and not to obtain a monopoly,
suppress competition or check the reduc-
ton OF price to the consumer, the public
ground for complaint.
Blu: combination which becomes in
one form or another an absolute mono
stantial competition, is in it's very es-
sence a menace and a danger, because Of
human selhshness and human greed COM,
mercy and under the heels of single
concern: None of us would like to be
the subject OF an absolute monarch,
however, gentle, kind and humane he
hn in, hi
power, subject to his whims and his ca
price at all times. Z
&c Charles ar 81: J ,Bonaparte, the eminent law
ence Of trusts held in Chicago in Sep
TENDER, 1899, clearly stated the case, and
the distinction in the following Ian
IT. therefore, the combinations of
freedom Of competition. the consumer
of production thereby caused; if the com
bination creates a virtual monopoly the
consumer will not ordinarily benefit by
the tendency of such a combination is to to
increase the price, whilst reducing the
cost Of the product
The Republican party has not been I'M
mindful of it's duty
TO PROTECT THE AMERICAN
PEOPLE
from the dangerous consequences Of
monopolles SO rar as the same can be
done: by legislation. In 1890, during the
congress was Republican in in Both Both
branches, the so-called Sherman anti
trust law was enacted. prohibiting monop-
trade, in interstate commerce. which law
is substantially the only anti-monopolv
Legislation on our federal statute books
49,, In passing upon cases. brought under
ed States has, in substance held that I'M
der the Federal Constitution congress has
n no Power to regulate combinations or
guished from combination or monopoly in
traHc, and no power to regulate or con-
troi combination or monopoly in other
e tn interstate traffic and that the, pow
er or regulatlng combinations orr mon
opoly IN manufacture and local traffic
rests with the several, states and not in
the federal government.
From this it is apparent that the act Of
Ioao mas substantially exhausted the pow
er OF congress in the premises; and it is
Jar from affording adequate relief. There
are forty-fiVe states in the Union. no two
OF them with similar anti-monopoIv. 1ee;s
latlon, and some of them with none at ali.
GomDlnat1on or monopoly in production
OF the entire country, can thus exist mn
checked and untrammeIed in any one Of
o 6fH states from whien the people of the
can obtain no protectien T Be Wech + thGy
oftentines difficult to Separate The cons
ra eeff f6 IF G2I traG from
monopoly, can inflict were limited to the
state under which it exists and has its
seat, then there would be no harm in
leaVlng 1t to the exclusive control of such
state, but where such MONOPOLY extends
IT'S operations throughout the entire co1,n-
try, then it is evident that the scope of
the relief and protection ought to be CO.
can be done. -..e = - ~1''s
A monopoly, national in it's scope and
consequences, should for the protection Of
the entire people be subject to national
control; Whoever seeks to enjoy national
protection and national advantages Should
also submit to national inspection and
regulation. Protection in such cases
should be mutual 49,. - - =.
In the light OF these facts that these
necessities, clear to those who have stud
led the subject, and with a view Of giving
e ngress ampler power TO control mon
o?olies and hostile combinations, the iu-
scntatives, in the Firty-sixth congress.
reported a joint resolution proposing the
following amendment to the Constit7,tinn
of the United States: '--',s''
Section 1. All powers conferred by this
article shall extend to the several states
the territories. the District Of Columbia
and all territories under the sovereignty
and subject to the jurisdiction of the
United States. -
Sec. 2. Congress shall have power to
define, regulate, control, prohibit. or dis
The several states may continue to ex-
ercise such power in any manner not in
conflict with the laws of the United
States. -
Sec. 3. Congress shall have power to
enforce the provisions Of this article by