The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1903-01-09
Says All Thoughtful Men Are
Agreed as to the Necessity
for Their Control.
SOCIALISM is NO REMEDY
interstate Commerce Act and Sherman
Law Are Steps in Right Direction,
but Further Legislation Is
Needed.

he Monday
Senator Hoar's speech was devoted
entirely to the question of trusts and
partly to an explanation OF his recently
introduced antitrust bill. He began
his address with the assumption that
Iii thoughtful men are agreed as Go the
necessity of legislation, state or ma
tional, for the control of trusts. He
sal that as yet there had been only APP
p~rehension and alarm but no serious in
Jury, except in the cas of the recent
coal strike, on account of trusts. On the
contrary, the progress of u material
prosperity had been greater in the past
few years thai yer before a been
known and our workmen We're better
off. Still there is, he said, actual peril
and it is lone the less real because 1t
involves only the future and not he
present.
The senator then took up the discus
sion Of the effect OF the control of the
vast wealth by individuals saying that
in such a system there was much to
threaten republican liberty. los Of
the vast fortunes OF the present day
had been accumulated within thirty
years.
rs there anything to render it unlike
"" ne asked. that If Of these vast
fortunes has grown from a hundred
thousand. to a hundred million or a
IltUSaLlu Iiit44tpi III - sSdlS lHEl
in the hands of the next poSsessor in
another thirty of fifty years. the hun
bred million may become a hundred
thousand million, or the thousand mil
lion, a thousand thousand million? Is
there anything 10 stop the accumUla-
ton of these snowballs? Canno the
same power and business ability II
capital h can control all h petro-
! leum country by and by control all the
1 r,1Ip 1a- ~ not pprrrOI rho r-s ilrnnH and
the ocean-carrying trade? Can ii not
| buy up and hold in one mans grasp
the agricultural and grazing lands of
new and great states and the coal mines
and silver mines and copper nines"?'
Menace Is Corporate Control.
| But, great as were the possibilities
OF the accumulation OF great wealth
by individuals he did not find in such
accumulation the same peril that is
found in corporate control of such
wealth. This was true, he said, be-
u the natural man dies n his
estate is distributed under The law.
While the corporation lives forever, ii
never goes through the probate court -
he said. International transactions
are kept secret. It is not Jealous for its
" honor, except SO far as its honor
or reputation is essential TO its getting
money 1t has no sol and no 0 n
! SSiei4SG- Iii SSLiSIGl, the IlS, VINO GES
most powerful in its management, can
If they see fit, avoid personal liability
,, for obligations"
The senator said that now the great
corporations are in good hands, but
suppose some Napoleon of finance
should come into the control Of a thou
; sand million dollars, would not that
! Possibility be q ZEAL public dangefe
| Such a power car make wars or it can
prevent wars. It can threaten q com
munity with a coal famine, q wheat
famine, and it can execute its threats
We had no ear but that the American
people could meet such emergencies bu;
, II we're better TO forsstau them
The Chief Evils.
Mr.. Hoar then took the question Of
the trusts as they now exist, pointing
out what he conceived to be their CHIEF
evils, as follows:
l. Destruction of competition.
:. The management OF local ildustris:
by anse1tees in the interest Of absente+
.. Destruction Of local public spirit.
: Fraudulent capitalization.
{. arrangement for the private benea
OF the officials.
!. The power to corrupt elections and i
some cases to corrupt the courts.
s. The want of personal ~responsibilit
to public sentiment.
9. The absence OF personal liability 70
contracts.
mortnlain-in the dead hand il we ma
use the ancient phrase OF the English
But it mas life enough fer all purposes c
power to serve the Will that wields it
is dead only TO the influence Of any rerv
which comes from the brain or heart {
the people.
Dwelling especially on the want
competition, he said:
There is n central power alor
with which the skilled workman mus
deal and II dominant will TO which /
submit. There may be q lit
help for him by joining q labor uniol
where he gets the advantage OF ASS
ciated strength on his side nut the Il
Dor union knows no difference betwee
excellence and the reverse. The ineffi
. lent man and the lazy man and the du
MAJ Ii stand on one Gead level wit
the brightest and keenesI and most il
. geaious Of his comrades"
Some OF the Advantages.
Mr. Eoar said that many as were II
: ital. some OF them would be u
balanced by corresponding advantage
{ and added:
L I confess l like TO see Pie-pont Morgi
: buying up great lines of ocean s,eaI
: ships. I like 10 hear Of foreign potential
Z S-i4 ~ --A-kGI4ALSS IL k1 op"A
down when he visits the continent
Europe We need great strength. Z
need great individual power i We are
rival foreign nations in the Great matte
which they also control by iu6iyidC
power. We must, if We can. look out,
protecting ourselves, NOT to destroy the
= nor to comp them. We can give them
= law which viii not impair their strens
and not check their natural and right:
q growth and that l hope is ali re mean
do But IL VIII be q bad bargain il
~ buy the dominion OF the continent or I
< empire OF the sea at the cost Of Araeric
10 loyal public spirit
T. But great wealth should be CONTROL
IS as the servant of man and of goyernrne
a and should Tot be given the reins of CT
is troll We mus keep control over agenc
- which can make cities grow or Iithe-.
Socialism Offers No Remedy.
ID Mr.. Hear said he did not agree "
in those who think they find an adeou;
ne remedy for the evils OF the trusts
s. the removal OF the tariff from all
ed trust-made articles. He considered
"a remedy suggested by himself more Ill
iii " to prove effective. He announced
ci opposition 10 government ownership
II great labor-eup !eying industries,
as Guiding coal mines and railroads.
r. ciSliSm he said TyrrfSrsS M rama