The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1903-04-23
MERRIAM ON. TRADE CONDITIONS.

MERRLdM. ON TRADE CONDITIONS.
The address Of William r. Merriam,
before the St. Paul Credit Mems asso-
citation last Thursday night, on 'sPres-
ent Business Conditions and Financial
Outlook touched upon matters of
great interest to the business men, as
we'll as all classes of people in the coun-
try who have the welfare of the coun-
try at heart. Mr.. Merriam referred to
our unprecedented prosperity and to
the new commercial era of centraliz-:
alton and combination of capital. He
said that while mindful of the necessity
of corporations with our modern meth
dds of commerce, he desired to dis
tinctly disavow any disposition to I'M
derestimate the possible evils which
may overshadow the government from
the greed of ownership, or the dangers
that may threaten the public by reason
of the unlimited power that follows the
massing of capital. Reference was
made to the great saving in cost of
production and in transportation by
the great industrial combinations, and
the elimination of ruinous competition.
On the other hand he referred to the
opposition to such an evolution of trade
and commerce, which many branded as
monopoly, and menace to trade and
society. Mr.. Merriam, however, said:
II cannot help coming to the conclu-
sion that the concentration in few
hands of SO large a number of the in
dustrial concerns throughout the coun-
try must have an effect like ballast on
ship, to steady the situation: that the
evolution which has gone on so con-
stantly during the last half dozen years,
by which all sorts of productive insti-
buttons have been welded together, has
resulted in placing the management of
these large concerns in the hands of
men of the highest experience and of
great financial strength.
'These aggregations of capital will
prove advantageous to the business in
terests of the country in that they will
be able to adjust business interests to
supply and demand and to changing
conditions, and thus put off or at least
greatly mitigate the era of depression
which has been so common in our coun-
try.
with this evolution and growth,
however, has come ''another evolution
which practically obliterates the ira
ditions of centuries, that a man may do
what he chooses with his own" Mr..
Merriam further said: 1.-THE conclusion
is irresistible that in the central gov
eminent rests the power to determine
that the Individual or corporation tran
sacting any business that is. Interstate
in it's character cannot hold, maintain
or operate any property that results in
injury to the public. Surely such a
contention in effect materially tends to
centralize power in the national gov
ernment.''
Referring to our currency system he
said it was faulty in that it was in
elastic, and thought the next congress
would enact a law permitting the SUBJ
treasures of the government to place
customs and internal revenue in GOV
eminent repositories and permit them to
enter the channels of trade under pro-
per securities. In conclusion he said:
There is laid upon you and the men
of this generation who are devoted to
the country, loyal to it's hopes and it's
inspiration, and who believe in it's fu-
ture, to so utilize your talents that the
greed Of men, clothed in corporate
FORM shall not work evil to the people
Of our common country''