The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-10-09

sugar a cent per pound and make the same
profit they do now. And In that event the
sites on which beet sugar factories now
stand would be worth more as farm lands
h as sugar plants, and the refiners
would have no competition, actual or pros
pective. / doubt the wisdom of following
advice when the blow will be
sure to fall with ruinous effect upon COM
petitOrs of alleged m~onopolies.
Similar advice has been repeatedly given
concerning the product OF the United States
Steel Corporation. At least two parties
holding large interests in this concern have
in my presence Joined in these
tons. l will refer to this institution later
on, and / think 1 will be able to show other
reasons than the protective tariff for the
high price OF iron and steel, AID also that
there is actual competition in sight. 1 am
not defending the present tariff schedule
on iron and steel nor Directing TO a revision
thereof. L am only attempting to show the
folly of a free-trade remedy for an alleged
svii.
We are frequently threatened with over
production, and against this we must al
ways protect by increasing our markets as
far as possible. But other countries also
have Overproduction, and from this source
our Industries are sure to be crushed I'M
less protected. Does any one suppose any
iron Industry in the United States could
have survived an inundation from Europe
cccasioned by recent business tagnation in
some localities on the continent but for
the tariff? The Republican party watches
primarily that the American laborer shall
have employment. 1t is probable that dur
ing the last year or two free trade in iron
would have cheapened the product to the
American consumer, but a million and a
half people fed and clothed directly by
wages paid by the various iron and steel
manufactures would have been again beg
ging bread. Unreasonable prices are al
ways Objectionable, but prices unreasonably
low are more Objectionable and fraught
with greater hardships, primarily to the
wage Garner, and, secondly, to all those
who supply the wage earner's necessities
than prices unreasonably high. Do you re-
member that President Harrison said again
and again QOr the issue in 1892 was hign
prices), There is such a thing, gentlemen,
as having prices too low But the public
did not heed the warning and we had four
years of low prices. Do you want to try
this experiment agai1 SO soon? We will
ply equals the demand. and the naked
threat of a change of economic policy al
ways has had the effect TO check demand
more rapidly than anything else. To-day
The Democratic party has another rem
edy besides a revision of the tariff. and
that is 1.-The free and unlimited coinage of
silver at the ratio of 1s to l with gold with
out the aid or consent of any other nation
whatey ea am OF opinion that this
removal OF the tariff. / also think the
remedy would be more permanent, for it
would certainly crush out that restless
American enterprise which is the real seat
on a silver basis was ever troubled with
trusts; yet I am not prepared to recon-
mend IT. Sometimes the remedy is worse
than the disease.
ANOTHER REMEDY.
Another remedy is a constitutional
amendment which will give Congress au-
thority to deal with trusts. combinations
and m~onopolies, wherever located, regard
less of state lines. Indeed, Republicans in
Congress voted for such a measure once,
hrf N faflad 70 mass Ard x-hx,0 t. %oIo.
a two-thirds vote I'm both houses to pass
a measure for a constitutional amendment,
and the Republican party was not that
strong. just before the proposition was
placed upon Its passage the Democratic
leader read with approval an editorial from
the washington Post, one of the best, most
conservative and at the same time the fair
est and most consistent of the opposition
papers, as follows:
by supporting this constitutional amend
ment Democrats viii have connived at the
permanent retirement of the trust issue.
and It's withdrawal from the campaign,
and thereby robbed their party Of one of
the most powerful engines OF war"
he then proceeded to crack his party
whip in this language:
IF We pass this constitutional amend
ment the effect OF IL will be to eliminate
the trust question from the campaign. Now,
are we going TO help to do it? / hope not
When the roll was called one lone Demo-
crat voted with the Republicans, and all
the others followed the advice of their
floor leader and disregarded the recon-
mendations OF their national leader.
/ have heard one or two other remedies.
A few years ago | attended an antitrust
convention OF Governors in the city Of st.
Louis, and i remember very well one OF
the most genial gentlemen, and one OF the
finest orators present. discoursing on the
method he proposed to adopt I'm his State.
He said he would have the Legislature en-
act a law prohibiting any corporation do
ing business within that State unless il
first incorporated therein. He added: Then
II they attempt to monopolize anything ]
not say how he would dissolve them. This
remedy doubtless Will work well IL IL will
bear analysis. Without expressing an opin-
ion as to its truth / want to assume that
q certain corporation organized for that
purpose, with 100000 capital. has a FIVE
year contract with all the salt producers
OF the United States to buy their product
at a given price l doubt OF the Constitu-
ton or public policy would uphold a Law
prohibiting any one from buying all the
salt he could pay for. Now. suppose this
corporation starts 81 car of salt into my
friends State; IL is met at the boundary
by the attorney general. and assured that
Il cannot bring that salt across the line I'm
til IL contemporaries. That sounds all right
But suppose the corporation refuses 10 re-
incorporate. and instead sells it's car OF
salt to some private individual who car
ship IL where he pleases under the guar
antees OF the Constitution. The result will
be hat the people of that commonwealth
will use the same salt, and the only differ.
ence will be the payment to Jones of ar
additional profit Great craftsmanship, II
would sound well at conventions, but not
SO well on the floor OF Congress.
Now. a suggestion with reference 10 nat
uraI and evolutionary remedies. i suppose
more objection has been made and NOR,
antitrust sentiment created by reason OF
the United States Steel Corporation thar
any other one concern. / confess its organ
fzation staggered me. / happened 10 be al
the time the Governor OF q great State, anC