The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-09-12
BEVERIDGE SPEAKS.
CONCLUDED PROM FIRST PAGE

CONCLUDED FROM FIRST PAGE.)
dividual dealer, the little corporation of a
generation ago could not produce and dis
tribute the necessities of modern life. When
each community was separated from the
rest OF the Nation, because there was no
means of communication. its wants could
be supplied by individuals and small con-
Germs But the railroad, the telegraph, all
the agencies of modern communication
have knit the Nation into a single COM
munity, and individuals acting separately
can no longer do the work required by
modern life; and organizations of industry
become vaster than the little concerns of
the old days, as the consolidated industrial
nation is vaster than the little separate
communities of the old days. Organization
OF industry simply keeps pace with the
organization OF society.
what is the general result? Is ii better
for the merchant, manufacturer or farmer
who ships over railways to have the little
ago. or is 1T better for them that those
lines are so consolidated into systems
sweeping to the farthest city markets and
to the Nations ocean ports? The little
lines of road are what you had a genera
ton ago; the trunk line is what you have
to-day. And yet, then you paid 70 to 400 per
cent. more for freight on every pound of
grain and every box OF merchandise you
shipped than you pay to-day. Is Ii better
for the two million laborers employed by
railways to work for the little lines that
existed twenty-five years ago or for the
mighty railway consultations that employ
them to-day? The little separate lines of
generation ago. acting in competition, with
out scientific or sensible connection. paid
their laborers ID to 30 per cent less in
wages than the same men receive to-day;
and statistics show that hundreds of those
little lines went into the hands of receivers
every year. Often their laborers lost their
wages utterly. To-day hundreds of thou
sands OF more men are employed by rail-
ways at higher wages than ever before;
receiverships are almost unknown and no
railway laborer loses dollar OF his wage.
And yet the opposition to the government
demands the dissolution of these consolida-
TONS
DUE TO MODERN CONDITIONS.
''These modern conditions have caused
these modern industrial Developments, not
the tarif. not the favor OF the govern
ment. not legislation nor the want OF it.
Destruction OF the tariff. therefore. would
not destroy trusts. 1t would merely create
international trusts. English. American and
German trusts would combine instead of
compete. But until American industries
shall dominate the industries of the rest of
the world; until the United States becomes
the permanent banking house of the Ma
ton; until We have grown so great that
we are the controlling influence in interna-
uonal commercial policy, American trusts
are better Tor US than international trusts.
Have these organizations extorted mon
ey from the people? Examine the scale of
the cost OF the necesSaries of life during
the last generation and YOU will find a
steady decline in prices. Have these organi-
nations thrown labor out OF employment?
Why, then, are more men employed at
higher wages in the United States than
ever before-more employed in proportion
TO the population than in any other coun-
try on the globe. Have they reduced the
wealth OF the people? Why, then, have the
deposits OF workingmen in savings banks
increased2 Why have the farmers OF the
Nation during the very period OF the for
nation OF trusts paid of the mortgages on
their farms which were placed there before
the period of trusts began? And why
should organizations of commerce and in
dGstry seek TO impoverish the people. since
their only source OF profit is the prosperity
OF the people? They can make money only
by selling what they can produce; and they
buy"
Senator Beverage then discussed the
evils OF trusts. and declared that they Were
three: First, the watering of stocks which
defrauded the innocent purchaser OF those
securities: but while only a few of
eighty millions are injured in this way
tnat eVl must, nevertheless, be remedied,
and It's only remedy is publicity. For no
one VIII buy a worthless share of stock IL
ne knows the condition OF the corporation
that issues IL. And when statements of
their business are published 10 the world,
every purchaser may know what he buys
And although the trusts themselves. as
denee. have begun to publish statements
or their business. as witness the volun-
tary. publication OF its condition by the
steel trust, yet the administration pro-
poses that the people shall be informed OF
the condition OF corporations doing busi-
ness throughout the Nation. IL they do not
follow the example OF the steel trust and
publish their condition voluntarily.
The other evils of trusts are the unjust
raising OF prices and the unjust lowering
OF wages. And although prices are seldom
arbitrarily raised by trusts. because the
higher the prices the smaller the sales
and. therefore, the smaller their profits.
yet the administration is determined that
the folly and the crime OF unjust prices
shall be made impossible. And although