Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1902-06-21

and a reasonable dividend TO the hold
ers OF its stock. IL that amount is
earned upon light traffic the rate per
unit Of traffic Is heavy The interest
Of the territory along the line OF tne
railroad rests mainly In the Increase
of the density and volume OF tfaiho'
There has been during the last year
great deal OF public discussion about
railways competition. IL is always D.
safe basis to assume that no business
viii continue for any length of time
II the result OF its transactions Is Joss,
and this is equally true OF your Dusl-
ness and OF that OF the railways.
Should the commission be given rate
making power, 1t would have absolute
dominiOn over the commerce OF the
country and over all interests depend
ent upon such commerce. 1t Is 70 DE
feared that evils would result from the
granting and exercise Of such power,
compared with which existing evils or
alleged existing evils are as nothing
THE TRUSTS.
Large amounts Of capital are needed
In country where such enormous UNI
dertakngs are carried out, and there
are a few individuals In the country
who might furnish $4,000 900 or SlOO,-
100000 with which TO carry on any par
ticular branch of business. but there 10
no certainty that they would furnish
one dollar. A man with that amount
Of money does not need all the trouble
and annoyance attending a large bus
mess Of any kind. so that IL is neces-
sary that his work shall be done
through corporate effort and no harm
is likely TO come 10 the country grow
ing out OF the magnitude Of the bus
mess.
Has the enormous business OF the
Krupp company In Germany Injured
the German nation, or any of It's peo-
pie? ON the contrary, the nation and
the people are proud OF the name OF
Krupp. Can any one In this country
point out an injury inflicted on the peo-
pie which can be traced to the magnl-
tude OF the Carnegie company The
only serious objection TO trusts has
been the method of creating them
not for the purpose Of manufacturing
any particular commodity, In the first
place, but for the purpose OF selling
sheaves Of printed seoureties which
represent nothing more than good VIII
and prospective profit to the promot-
ers.
II is the desire Of the general govern
ment through Congress TO prevent the
growth OF such corporations, II has al
ways seemed to me that a simple REM
edy was within It's reach, Under the
constitutional provision allowing Con-
80. IN "a a tho
states, all companies desiring to trans
act business outside Of the state In
which they are incorporated should be
held to uniform provision of federal
law; they should satisfy a commission
that their capital stock was actug "
paid up In cash or In property az Il
fair valuation, just as the capital OF
the national banks are certified
to be paid up by the comptroller
Of the currency. II is only fair to
dealer in Minnesota or California or
Oregon that II q company claims 10
have two. twenty or fifty millions of
capital. desiring TO do business In ttat
state, the dealer should know that the
company's solvency has been passed
upon by q federal commission. and
that its capital was what II was adj
vertlsed to be.
Win that simple law the temptation
to make companys for the purpose o.
selling prospective profits would be at
an end ard, at the same time, no legit-
innate business would suffer, nor would
any number of individuals. desiring to
engage in business through a corpora
ton. suffer any hardship because their
actual capital was as they advertised
IL 10 be. We have been as a nation
too ready to look to state and federal
legislation for remedies which are be-
yond their power to give.
The laws OF trade are as certain in
their operation as the laws Of gravita-
ton. You might as well try TO set a
broken arm by statute as 10 change a
commercial law by legislative enact
ment. You may obstruct and delay
for time, but In the end the inexora-
BILE law Of experience and the survival
Of the fittest will prevail That is the
law OF nature in every
branch. and In Its working II Is eternal.
Let us, therefore, leave we'll enough
alone. That which IS good let us keep
and that which can be made better
let us approach with intelligence and
hOIh loStlHtT IoT lnt accompaniment
of results that will benefit not only
one but all the various states OF the
country, and In that way secure the
Of the individual and separ-
ate intrests as WELL
The following remarks on Mr.. Hlll's
address are quoted from a newspaper
interview with Senator Chauncey De-
pew, made In Chicago on June s;
| agree with many things that Mr..
Hill said, His suggestion regarding ir-
rigation Of the arid west by the nation
al government Is all right. The gov
eminent also should do more towards
the forests. ! am TO make
q speech on this latter subject In the
senate on Saturday.
also agre with Mr.. HIN that govern
ment ownership Of railroads is lmprac-
ticable at present, because OF our weak
civil service. The government has not
got the machinery for successful con-
troll Even in country like Belgium,
which has governmental machinery,
the results prove that private enter
prise is the most desirable. II IL more
alert In applying new ideas, methods.
and machinery.
But while not believing in govern-
ment ownership, | do most firmly be-
lieve in such government control Of