Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1902-05-06
CUMMINS ON TRUSTS
Iowa Governor Suggests Some
Remedies.
HESAYSTHE PROBLEM CAN BE SOLVED
Laws and Competition Are Necessary
+ Advocates Government Direction
of Organization, Prices and Tariffs
Should Consider Consumer.

VI SiSdUlZdtioH, FTlCSS ana driITS-
Should Consider Consumer.
Minneapolis, Mimi, May 1.-Gover.
nor A. B. Cummins OF Iowa was one
OF the leading speakers at the meet
ing OF the Fourth ard Republican club
here last night.
Governor Cunmins paid particular
attention to the trusts ard consolila-
lions, and his treatment OF the latter
oyershadowed in interest his analysis
OF the government of republic ard
his descriptions of the achievements
OF the republican party, owing tc the
attitude of Governor Van SAINT toward
the merger.
Governor Cummins declared that
there are but two forces which can
safely be trusted to regulate industry
and commerce-competition and law
and that when bold and enterprising
men overcome one force they must be
met with the other.
In other words, the governor pro-
poses as remedy, first, that no cor
poration, whether industrial or other
wise, shall be permitted to issue stock
unless paid for in money at its par
value; and, second, that some branch
OF the government must be vested
vita power to fix the price Of products
or service upon which a monopoly or
substantial monopoly has been estab-
lished.
The speaker also submitted that
some branch of the government must
be empowered to remove the duties
upon imports on those commodities re-
specting which competition no longer
exists in our own country.
Governor Cummins devoted the first
part of his address to the philosophy
OF government and the results occom-
plished by the republican party. Dur
Ing republican supremacy more things
had been done for the glory, growth,
and betterment of humanity than were
ever before done in a century of time.
Governor cummins on Trusts.
On the treatment of trusts and con-
solicitations Governor Cummins said:
mo loyal hearted American can
yi"w the stupendous growth of his
c, airy in population, agriculture, and
commerce-in everything that tends to
(: make life busy and happy-without
being conscious of an intense national
pride.
Il 1T seems almost ungrateful in the
midst of prosperity so Astounding to
suggest that there is in these wonder
full conditions a tendency that needs
ito be checked and yet can see that,
lurking in the cover Of this prolific de-
> Up1nn1o c a bot a
mands the care of the republican
party.
81 perceive that there is some dan
ger of misunderstanding the republic
an position. Standing as we do as de-
tenders and to some extent as creators
of the mightiest development the
world has ever seen, our democratic
friends will endeavor to make us re-
sponsible for all that is involved in ex-
listing conditions.
''In the full light of this hour, taught
by prolific experience, | would not if
could subdue the spirit which has
made the republic prominent through
out the world and conferred untold
blessings upon it's citizens. But with
in the last three or four years human
agents, fired by unwonted prosperity
and led by the kings of commerce, have
proposed and have been endeavoring
to accomplish objects which are intol-
cradle in free country; which do not
tend to development, but to tyranny.
The fundamental law of healthy, Wig
orous, enduring industrial life is compe.
tition. There are but two forces
which can safely be trusted to regulate
industry and commerce. The first is
competition; the second, law.
Drew Line at Steel Corporation.
''There was no thought of alarm as
we witnessed the growth of the Car
negie Steel company, for We knew
that the victories that it was winning
and through which it grew beyond the
dreams of its founders, were won, in a
contest in which brains and ENTERPRISE
always earned their laurels. But
when we saw the United States Steel
corporation come into existence, first
to enrich its promoters by the issu-
ance of vast quantities of fictitious
stocks, that represented nothing but
the audacity of the se1fers and the ere
dulity of the buyers; and, second, to
buy at extravagant prices competitive
manufacturers in order that competi-
ton might be wholly or substantially
eliminated, the memorable tongue in
the bell of a nations life rang out a
warning.
Il may put another instance. The
extension of the railway systems of
the United States has done more to
improve and beautify our fertile EN-.
pire than any other one element in the
problem of congress.
Extension, through competition, is
the motto of independence and adj
vance. Consolidation, toward monop.
oily, is the maxim of slavery and de-
cadence. I have heard it often said
that the tendency of consolidation was
one of the necessary incidents in the
evolution of our age and that to strike
it with the strong hand of the law will
be to inflici a mortal wound unon the