New-York tribune., 1903-01-30
DEMOCRACY AND THE TRUSTS.

The February North American Review con-
tains an article on The Political Opportunity
of the SOUTH by Mr.. Thomas T. Ryan, OF
Stock Exchange and electric railway fame,
which challenges attention not only for what 1t
SAYS but for what it may perhaps imply. MI.
RYAN is a Democrat but he is also hnancler,
and while he is advising fellow Democrats 1t
is Just possible that he is representing fellow
fnanciers in making bid to the Democracy TO
court their favor and oppose the Republican eff
forts to cope with the evils Of trusts
Mr.. RYAN recalls the early principles Of the
old Republican party, OF the early part of the
nineteenth century, from which the Democ-
racy supposes itself to be legitmately de-
scended, suggests that no President has dared
TO advocate a change in the relation OF the
States to the federal Union ''as political eX-
Incident to meet popular clamor," and says
that the question now confronting the Demo
Gratis of the South is whether old conditions can
be restored and a return made for another
period of half a century or more to conserva-
..tiye Democratic government" The South is
largely to determine if the party shall continue
.sbv pllrsuing false gods and strange doctrines
40 alarm those who by the sweat Of their brow
s.haye acquired some stake in the wealth OF
"the country and shall turn its back upon the
''principles of jefferson and Madison to adopt
those of Karl Marx and the State Socialists or
Europe" Therefore to the South Mr. Ryan
proposes the adoption of these party principles:
A moderate tariff for revenue, without preju-
dice TO domestic industries.
A sound currency.
Moderation in public expenditures.
The restriction of the federal government 70
its legitimate functions. and opposition to the
further extension of its powers over the acts
and industries of the people Of the States.
This tariff programme is conciliatory as
nossible to manufacturing and trust interests.
They are assured that no Democratic admins
tration will propose anything like free trade.
They need not fear any measure that Will wipe
''out protection reduce 1T upon highly m
''ished products below reasonable protective
point" The Democracy will not be the plant
fool of special interests-as it in making
the tariff of ''peFfdy and dishonor TO which
Mr. Cleveland would not put his signature-but
it will pay due regard to the reasonable needs
of American manufacturers. This is very
pretty bid. OF the sound money ana economy
features Of this programme it is not necessary
to speak except 10 note that Mr. Ryan, true 10
his State rights doctrine, objects 10 the tax on
State bank note circulation. The important part
of his plan is ralying the South to the defence
of the trusts from federal interference. He re-
minds the Southerners Of their suffering from
"abuse of federal power" and says that moth
''ing has happened in forty years that has given
more concern to all thoughtful men than the
"usurpation by the Executive of the power to
interfere between the employer and the en-
''ployed Furthermore. it is impossible to dis
connect il from the expressed intention to force
IAN amendment TO the constitution, for ends
WHOLLY at variance with its spirit and with
'the intent of its framers-ends than which
nothing could ultimately prove more subver-
"sive of the rights of the State or more destruc-
Tive of the very foundations Of the government
itself" The awful danger OF Capitalization is
nsinted in Iurid coIors 1T will be a dark
..portent for the future OF our institutions when