Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1903-01-07
COAL STRIKE EMPHASIZED GRAVE Peril
Nation Sees that Common Alarm Is by b.
Means Baseless.
PUBLICITY AND PROHIBITION THE CURE
Should Make Combines Publish Accounts
and Stop BuSine Ses Illegally Run.
OFFICERS MUST Be PERSONALLY LIABLE
Law Required 10 Compel Directors 20
Accept obligations before Assam
ing Power, with Right of
Courts to Collect Debts.

WASHINGTON, Jan. 6.--In the senate to-
day the Vest resolution instructing the COM
nittee on finance to prepare and report
bill removing the duty on anthracite coal
was considered.
Mr.. Vest (Mo) said the finance COM
mittee could do nothing and, therefore,
he could not see the necessity OF Mr.. Aid
rich's (R. H. motion to refer the resolu-
tion to the finance committee.
This no longer is a party question:" he
said. but a question Of absolute humanity.
We are not on the verge of q crisis in re-
gard to coal, but are actually in II. Women
and children have been frozen to death and
my only solicitude is to find a remedy for
this dlsgraceful and outrageous condition Of
affairs"
Senators stood dumb, he added. either
afraid or unwilling to take any action an
swering the appeals of the poor, freezing
women and children with party cry "stand
pat" Nothing was to be done with the
sacred elephant Of the Dingley tariff law.
The senator from Massachusetts,, MIR. Lodge,
had endeavored to administer a homeo-
pathic dose in the shape of a suspension
Of duty for ninety days, but II medicine
was needed at all. IL was in allopathic
doses BY referring the resolution to the
committee IL would have no chance to pass
Don't we know" he continued, that
when we send the resolution to the finance
committee we send it to its execution"
He criticised the Dingley tariff and said
there was no more chance today to reduce
a single duty in the Dingley act than for
him to carry off the capitol building on
his shoulders.
Mr.. Aldich (R. I) said he desired to
make full answer to Mr.. Vest. but as Mr..
Hoar (Mass) had given notice that he
would speak on his trust bill, he asked that
the resolution go over until tomorrow. He
took occasion, however, to deny certain
statements by Mr.. Vest, attributed to Mr..
Dingley, to the effect that the rates Of the
bill were made unnecessarily high In order
that reciprocity treaties could be made.
Trusts Must he Regulated.
The resolution went over and Mr.. Hoar
addressed the senate upon his antitrust
bill,
The address OF the senator was devoted
entirely to the question OF trusts and partly
TO an explanation of his recently intro
duced antitrust bill. He began his ad-
dress with the assumption that all thought
full men are agreed to the necessity OF
legislation, state or national, for the con-
troll OF trusts
apprehension and alarm, but no serious
injury, except in the case of the recent
coal strike, on account of trusts. On the
contrary, the progress OF our material pros.
perity had been greater in the past few
years than ever before had been knowr
and our workmen we're better on Still
there is, he said. actual peril and II Il
none the less real because II involves only
the future and not the present.
The senator then took up the discussion
OF the effect Of the control OF vas
wealth by individuals. saying that in sucl
system there was much to threaten re
publican liberty. Most of the vast fortunes
OF the present day had been accumulated
within thirty years.
"Is there anything to render It unlikely.
he asked. that II one of these vast for
tunes has grown from a hundred thousan,
TO hundred million or a thousand million
In thirty years. that. in the hands of tn
next possessor, In another thirty or hft
years, the hundred million may become
, hundred thousand million. or the thousan
million a thousand thousand million? I
there anything to stop the accumulation O
these snowballs? Cannot the same powe
and business ability and capital that ca
control all the petroleum country contro
all the coal? Can II not control the rail
not buy up and hold in one mans gras
the agricultural and grazing lands OF ne'
and great states and the coal mines an
silver mines and copper mlnes?"
Peril I'm Corporate wealth.
But, great as were the possibilities {
the accumulation OF great wealth by IN
dlviduals, he did not fnd In such accumu
lation the same peril rhat is found
corporate control OF such wealth. Til
was true, he said, because the natural ma
dies and his estate is distributed under n
law, while the corporation lives foreve
at never goes through the probat
court" he said.
Internal transactions are kept secre
II is not solcitous for its own honor. e,
cept so far as its honor or reputation
essential TO its getting money. II has r
soul and no conscience. In general n
men who are most powerful in its manag,
ment can. II they see At, avoid persons
liability for obligations"
The senator said that now the great col
porations are In good hands but suppo,
some Napoleon Of finance should come I'M
the control Of a thousand million dollar
Would not that possibility be a real publ
danger? Such a power can make wars
Il can prevent wars. II can threaten
community with a coal famine, a whet
famine and Il can execute its threats +
had no fear but that the American peop
could meet such emergencies, but Il we
, better to forestall them.
Points Out the Evils.
Mr.. Hoar then took up the question
the trusts as they now exist. pointing O.
what he conceived to be their chief evils,
follows;
First Destruction OF competition.
a ma M ger az
dnstries by absentees in the interest
absentee capital
Third-Destruction OF local public spirit
Fourth--Fraudulent capitalization.
Flfth-SeCrecy.
sixth-M Management for the private bene
of the officials.
Seventh-The power TO corrupt electio
and IN some cases 90 corrupt the courts
EiEhth-The want OF personal responsib
ity 20 public sentiment.
Ninth-The absence OF personal liabili
for contracts.
Tenth-rhe holding OF vast properties
(COntinued on Second Page.)