The Montgomery advertiser., 1902-09-06
THE TRUSTS.
A Doubt -Dispelling Speech on the
 Presidents Part.

Presidents Part.
 Brooklyn Eagle.
 The Fftchburg speech of the President will undoubtedly be regarded as his star performance on the platform. though it was neither pretentious as to style nor formidable as to length. It was neither more nor less than plain. matter-of- fact straightforward presentation of an exceedingly simple case. In the strict construction of the term, there Is not a trust in the United States. Large blocks of stock are no longer held in escrow for the purposes contemplated several years ago. They are now bought and sold. Ownership actually changes hands. When ten companies are swallowed by one. the minor concerns go out of cor porate existence. all the interests remain ing being represented by new securities. This, however, is very much matter or form and of corresponding unimportance. Every purpose formerly sought to be sub served by trusts not then improperly so- called, Is now accomplished by actual change of ownership and every great concern thus established by a process of wholesale absorption warts all the trade that 1t can keep and will keep all the trade that it gets-if it can. its desire to moonpolize Is unmistakable. It would if that were possible, drive every com petitor out of the field and run the whole businessNon its own account. That Is a propensity not confined to corporations. It is universal. It is shared by individu- als as well as combinations And statutes to the contrary. notwithstanding. it promises to persist.
 As to the outlook. President Roosevelt believes that in the end the Constitution will be amended so as to add to the powers of the federal government He thinks that in the meanwhile further legislation can be secured, but he Is ob- viously of the opinion that the Constitu- tion will prove to be a stumbling block, that behind 1t the trusts so-called will find abundant shelter. that nothing but an amendment will smoke them out. Fed eral machinery Is now in operation. It is in court collision with the beef com bine. hoping to bring 1t to book for grant ing rebates. It Is also in collision with the Northern Securities Company, its object being to upset merger on the plea that a corporation cannot be formed Tn one State to do that which is prohibit ed by another when the theater of activi- ty Is the commonwealth seeking redress. There is no doubt as to the sincerity of the Attorney General. Few men know more about the laws affecting corpora tions and few are better known for the qualities which win success in court So. the prosecution will be other than per functory. There will be retribution for the beef trust if it can be invoked, and the merger will surive through no fault of the government In other words, the authorities are in earnest-so far as they are concerned 1t is fight to finish.
 Good lawyers DeHeVe that the merger will stand and that the beef barons are in no serious peril. This is the generally accepted view In all probability 1t Is the view that the President takes of the matter. The indications. therefore. are that great trade combinations in this country have a smoth track ahead of them, perhaps not to the end of the line. but at least as far as they can see. That they will strike curve sharp or other wise at the next session of Congress is
 
 able to take excellent care of themselves at Washington, proof of which was forth coming a few months ago. Against the sentiment of the country single con cern arrayed itself The beet sugar men scored victory under conditions of a character anything but creditable to the nation. so 1t Is slightly optimistic to sup pose that should all the big corporation take hand in the game, results Will be reversed at Washington when Congress meets again. There are those who Will call this a national misfortune. The monster hunter will not be consoled. lie will rave and fume and tear his hair Also. he will claim that everybody IS a scoupdrel and that his misguided country Is going to perdition and nothing can con- vince him to the contrary.
 It Is reasonably certain in spite oi Presidential speeches, that the Constitu- ton will remain as 1t Is for many years There Is scarcely even the remotest pos sibility that it will ever be amended with the idea of enabling the federal authori- ties to crush out trusts. The power tc crush suggests the absolute. The abso- iute suggests the arbitrary. Neither the absolute nor the arbitrary Is in line with ,ae spirit of American institutions. A strange spirit comes over Democratic dreams when 1t Is proposed that for cer- tain vital purposes State lines shall be obliterated. that State supremacy shall be submerged. that to the federal authorities shall be granted the power to confiscate, to exterminate. This is what Bryan con