Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1902-06-05

controlled by avarice, greed for gain
and the power which wealth gives
them.
The old methods will not serve the
present needs, neither will those of
today serve the next generation. The
of wealth is so rapid,
the inventive genius of our people so
far surpasses other countries, the stu
dent and scientiest is so persistent
in searching out the hidden treasures
of nature, and the mighty forces that
God has in reserve, that our country
must steadily advance in methods and
wealth until we command the trade of
the world.
The beginning and maintenance of
this world power on financial and in
dustrial lines is the introduction of
the new methods in organization, CEN
and systematizing the
power of money under the manage
ment of master minds. This gives W
the first benefit derived from trusts,
economy and competent management
The second benefit of trusts and
stock companies that are founded on
legitimate lines and solid financial ba-
sis affords the individual owner safe
and easy transfer of ownership. Take
for example the stocks in Standard
oil, sugar trust, and cottonseed oil
trusts that have stood the test Of adj
versity and prosperity and paid divi-
dends. In what better form can
wealth be easily distributed, bequeath-
ed to friends or to charity.
Third benefit is the ready and wide
distribution of wealth amongst the
people through the sale of it's stocks.
The laboring man, incompetent, and
widow, may share in the profits of a
concern, administered by men of the
highest financial ability and wide ex-
perience
On this point beg to quote from a
recent utterances of J. J. HILL
Consolidation almost always works
an economic advantage to each of the
properties involved. Take for exam
pie the United States steel corpora
ton. Since it's contamination this
great enterprise has developed the
steel industry of the United States,
enhanced the value of it's property, in.
creased the demand for skilled labor,
and not one of the former share hold
ers of single constituent company
has suffered through it's ABSORPTION
by the combination. The United
States steel corporation has broaden
ed the field of good investment, and
never before were the profits of the
steel industry so widely and advan-
tageously distributed"
Under the management of Mr.Rock-
efeller Standard oil stock has become
gilt edge security and is paying
handsome dividends, the result of
economy in manufacturing and trans
portation and the control of the mar
ket. without advancing the price of
the commodities.
The demagogue will say: This is
against public policy and in restraint
of trade" but Mr.. Rockefeller con-
tinues to increase his business, he
buys more wells, sells more oil. builds
more tank lines, tank cars, tank ships,
tank wagons, and tank cans, and de-
livers oil at your door, and in every
civilized country, at less price than
when he first formed the oil trust.
A benefit is derived from the con.
solidation of capital as it gives the
means and opportunity for the high
est development of financial ability
and the introduction of economy in
methods and labor saving machinery
out reducing the price. Another i'm
portant benefit resulting from these
combinations will be the capture and
control of foreign markets.
Many well meaning people consider
lit dangerous that men or corporations
should possess and control such i'm
mense wealth. 1t cannot be other
wise in country like ours that is sc
wonderfully rich in natural resources
and responds so bountifully to the cul
tivation of its soil. Under our Amer
4 lean ideas we cannot put a limit or
the ambition, ability or capacity o.
the individual or combination of in
ldividuals, when these are within law
I full and on legitimate lines, to advance
their own interests and develop the
resources of the country. The mer
and combinations who have accumu
lated immense wealth have done 81
/ by developing the resources of ma
ture.
For example, Rockefeller goes tt
nature for his oil, refines it. distills it
and by chemical process turns it int
la multitude of uses for the benefit o
4 mankind.
i Carnegie goes to nature for his raw
material iron ore. 1t costs him SO pei
ton on deck at Superior. Ships an
i railroads are built to transport it
chemists are employed to find it's yaiu
and by the most economical treatmen
! it is made into steel rails and sold t
1.-THE railroad company for SIG per ton
Tor if he is moved to give Ottumwt
4 $4,000 for a library. he takes thi:
], same ore and by different process:
makes it into armour plate and sells i
to our government for $500 per ton.
j, handsome profit, of course. but wht
, is injured in the transaction? Natur
has given it. labor had had it's reward
commerce has been enlarged, Carnegi'
has the profit. He has travelled tn,
pathway from office boy withou
; means to the possessor of immens
wealth, by industry and native ability
These and many other men Xix
, them are not dangerous to the coun
, try because they have massed grea
: wealth by improving their opportuni
T ties The greatness and prosperity 0
our country lies in the teaching an,
practice that every man shall be an,
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