The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1903-01-25
FHE EVILS OF MONOPOLY
|peech Delivered in the House by Young
Texan, Hon. Morris Sheppard.

an organization with capital Of $1,000
600 was regarded as unusual, But since
January !, 1880, eighty-two trusts nave
been established not one Of which has less
than SlOODO,0OD Of capital, many OF Wmch
possess from three TO ten and twenty times
S1c,O00,0 0O, while towering like n helmetcu
colossus above them all is the monarch or
combinations, the steel trust, with a start
ing capitalization Of over Sl,"DOOo,Vn;
The trusts exist in utter dchaucc OF az
tustice and all law Secure in the knowl-
euge Of the fact that the republican part!
win not enforce the laws which sleep IN
eloriOusly on the statutes, and that TINS
party of monopoly and empire uares not
enact moro stringent legislation, they con-
tinue with nm lnsolence which cries TO God
for punishment TO Cypress The land ana I"
consume the substance of the people;
In no way have the republicans includ-
ing the president himself. attempted more
shrewdly to shield the capltallstlc freepool
ers and To confuse the people than III Lhc
endeavor 10 establish the impression ms
the present clamor against the trusts Is
hasty and ill-considered attack on cor
porations because they are unprecccentedIy
large that the big corporations TO use
an elusive expression Of our once strnl,-
nous chief executive are alleged to be the
main offenders regardless OF monoponstlC
attributes We say that IL matters not
how large or how small an enterprise may
10 II 81 has the character OF mohopo!
IN any effective degree II is trust. ~ ~
the principle involved which concerns inc
democratic party as the stay ana rclusH
Of the people anu DOL INV olNS ~
rho democratic party Is not opposed to
honest wealth, II condemns neltHtr NJ
| ylJuals nor companies whose puS!lcss o., o..
fairs NAV be conducted on large or
even a gigantic scale. on account OF nv
nero size Of their holdings ana transa"-
lions Individuals and companies may en-
gage I'm extensive enterprises Win Weneli
dnus capital and achieve marked success
without the aid or design Of monopoly ana
without special privilege from me goE ,,Hon
ment The democratic party status ., uP Pbe
the demand that the entire business OF tnS
I country shall be conducted In n puTt Nv
legitimate way. II Is against the l.yus ~ :,
aud piracy in modern establishments =, M a.
Ii would direct tine popular wrath IL u
monopoly. an evil which threatens the ~
tiuction OF American liberty, that IL NVIii,u
flng from the Tarpeian Reck OF puol ~
Indignation. Let me quote the wo,r eS -
NIr RUSSELL Sage concerning the steel trust
the most notable type OF the modern lnaus
trial combination. ,., NJ.
In an article In the North hnr ~ .r,st
view which appeared when the steel tru9s.
was In process Of formation and w men o6 dts
capital was reputed 10 De sl'VVo'VO''O0''
Mr. Sage said .,--rtr, wo
are told IS to start on with n capltai %
Fl OOO 100000 II VIII be seen, ti n,T,i ,,,
fhnt this company's Issue or secuflues ~ ~.
represent practically onc,sta,' In n wear
or two II precedeuts count tor iuA ~
this capital win he very hrHay NJ .Il ,s,,'I
and that IN spite Of the fact lhaI iHc ,.as
holders In the steel company when M s,e,
,he basis OF the new combination. g ~
49, e. 40 ,,id scores Of millions be
Inc thus added to the Interest bearing q, Sc
curides ~ tile United States ~ merely eI, t taF
stroke u a pen. When wealth - ,e ~,
iu tiat Wav what security n thSre ~
Tia whole schemcq Not another furll we
added 10 tho plant. simply g munG p'tU.
cfsg aud what was 100000 DeIore IL
Wan We know that Mr.. Sage und p, Pr
estimated the capitai OF The steel trnst y,
more than S0.00o,o0o when we know w
tbe nrcnerties N this comnany nv a,tU99
,iai,a Az 1ot exceed ssn0 n0O0 600, but llul'
more than one.third Of its eApitaiizau0n