The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-08-28

Hon. Charles +. Henderson, of Me-
braskn. said the report Of the committee
h sa f A. hin With amusement surprise
lie said the report was calculated to
rend the assoole ton asurder ana ne re-
scented tho attempt to turn the BODY Hto
political hustinss. He asked that mat the
There was opposition to the motion ], (, nn NJ
AGREED to hear the report Mt on II waa
read BY Chairman Logan ana was very
l"'' THE TRUSTS.
Il On the subject Of trusts tho report says
this is Tie iin,portasn m Question nov pc
Tho report auds. q.
''.The modern combinations primary OBJ
|ect y TO control trade and commerce s,,S.
stlttue a more or less perfect monopoly
In the place Of a moro OF, less free com
pe,to1 changes entirely the 0a Ss
tween man and man andii they are 70
continue to grow and develop IN tho ~ ~
ture, rs In the. past, Will render neces-
ciples or our commercial laws. Comblna-
ton, as an economic force, Is fast COM
inE, to take the pla;ce Of comt 11,
combinations. The United States Steel
Corporation is Il combination Of a dozen
heretofore competing p pr W s,1'
other producers, and these, In turn. often
combinations OF still others.
1T Is estimated that the Standaro ~
r ration 8" and merchants In ali parts Of
the I'll Union. Inc. present great rs n1 ,,d
by gf tho e com NIB 81 hSndreds Of saer
lines, some extensions ,of#one another,
and other N spp p' ! Ilne s4rPs
haps tho pet project OF the great American
combine. has been 70 control n2 all all The The
ysps that the Wero hardy spa
owned owned BY the he same individual or COR
poraton and even fifty years ia I, g the re
sGaTes ha sp o4nod a DOZEN
ships, No one knows but that within
the next ten years q greater man than nan
M9rg9n T frs al w ho
! the land SO that the workman who WorEs
| for wages can find but one possible EN- n.
p9ye ecss5 pa sa f sepa s
| formation Of one Industrial corporation,
which shall crowd out III other corpo-
rations and assume to itself all the ln IN n.
more than half taken.
END as we had to so to reach present
that It IS is,o for tie monopoiist. The United
States Steel Corporation can produce NO
cheaper than the elements, out Of which
dtlced them. The Standard u, OIL !. Com 70 n,
h forty ' per ec cent. dvidends, The sugar
trust Is economically correct. for where IRE.
rs the Individual sugar refiners loRt
money on sna he divdens 81 large
eea Gar The railroad combina-
| tons are economically impregnable for
e '.'eS z IA T11RH THF, EXCEPTION. 5
II Mr.. Morgan's shipping trust and a. MT.
| Schwab's shipbuilding trust are failures
they are exceptions to the rule. we can ~
not Therefore au IeI on ana
economic considerations to limit the
growth q modern eomnnq Items II th fss
gndesrap1Ie II wo ,nH peopbs better of
Without them or with limitations put
upon them, they must put those liE1 lia
u nqs G fhe ~ the sst0a anG s
The American bar must act ana the
American Bar Association must take the
lead Il the Northern Securities GorhSo e
have been United States Securities
Company which would hold til the m ,v5sra
the American a & s, A. fie IS nc
The report proposed the e' following ne rem en-
First, We can tax them to death, or y
tax them until their growth and enlarge s,
tional provisions requiring direct taxa
lions to be uniform and In view OF these
provisions it. is probably mp9s ssn > To-
IN the mater ade Of bo,di rue
amounts Of Of taxable property. There u.s..
however. franchise tax imposed by
the time Of their incarceration and an /:
unally therea fter. This franchise tax Is
In almost all States in.some way graded
50 as to tax the sma AZ
than subsequent millions. In our. ,judg-
ment the graduation should be continued.
down. We would leave, perhaps. the first
hundred thousand free and the first mil
lion cheap and raise the rate With eaeh
Steel Corporation now has a capitalize
ton of something over on Thousand mil
lions. The graduation stages might pc
eonservatlve, and xst result in taxa
| ton OF ten per cent, upon the last hum
dred millions. How long would the United
States Steel Corporation continue under
that system Of taxation. XXI ta
Second. We can compel them to rem er
der better and cheaper; service. II the
naat IS gea
enough public disaster to have warranted
the attention which 1t has attracted. IT
| cOuld nave poem prevented lnucn easier
than by Il hundred Sherman anti-trust
laws BY single United States statute
that required any corporation engaged N
interstate commerce to reduce its rates
fifty per cent. to and from every point
where competition has been prevented
by combination. merger. common control
or agreement; Congress can enact that
any corporation or Individual who on
cages in Interstate commerce must fur.
lower rates wherever by any combination,
competition is prevented than where conf
petition Is left free.
Third, If necessary, the State itself can
enter he Industrial field as q producer
former supremacy by becoming itself a
competitor OF the great trusts
The report Is signed by all the members
Of the committees. consisting OF Walter S..
Logan, Henry Budd, Gardiner La throp
George Whltelock and John Morris. Jr
u APPLAUSE.
There was applause when Judge Logan
concluded the reading of the report.
Judge Ketcham. Of Indiana, requested
that Judge Hammond. Of Georgia. be ask
ed to speak, IA, y
,ounlutinr r,,o q of-arod nv Nj, P,,chv