Omaha daily bee., 1903-04-17
FEDERAL POWER CROWS
Merriam Declares Merger Decision Tends TO
Strengthen Central Government
TRUSTS BALLAST OF INDUSTRIAL SHIP
Combines serve 60 steady Commercial
world and So stave on or Mini
mise Common Periods OF
Depression.

ST. PAUL, MINI, April 1s.-willIam r.
Merriam. formerly governor Of Minnesota,
and until recently census commissioners,
was the principal speaker before the st.
Paul Credit Mems association banquet to-
night.
After speaking briefly Of the unprece-
dented prosperity and the great Industrial
combinations, he said:
1 cannot help concluding that the con-
centration. in a few, hands of so large a
number Of industrial concerns must have
an effect like ballast on a ship-it must
steady the situation. This rs emphasized
by the fact that certain industries like the
iron and steel industry, controlled by a
comparatively few men, owning the raw
material and the transportation facilities
must be in a better situation to restrict the
output and adjust supply TO demand than
when the constituent companies competed
With each other for business.
Trusts Minimize Crisis.
In other words. is It not a fact that the
and the combinations producing various
articles of necessity VIII be enabled by
their financial strength and able manage
ment. to adjust the affairs of their I)r-
porations to changing conditions, and thus
put OF, or at least greatly mitigate, the
erss Of depression which have been so com
In speaking of these vast a~ggregations OF
capital | desire distinctly 10 disavow any
dlslotition TO underestimate the possible
evils which may overshadow the state
from the greed 81 ownership. or the dan
gers that may threaten the public by Tea
son OF the power that follows the
m9Ssing OF capital, as well as the disaster
which inevitably comes to the citizen In an
attempt either to s;lle competition or to
destroy ar. unfortunate rival.
Many OF these Bient corporations do not
deal In articles that can be considered
mcnopClies. but l cannot help coming to
the cCrCtIslon that according to the opln-
lon of the. oour, Of appeals a few days since
no mar shall be permitted and no corpora
ton shall be permitted to utilize the right
OF private ownership so as TO inJure his
neighbor or menace the public good, |
would have you fully appreciate Just what
his. means. No corporation doing busine as
In the states can destroy its rival by a dis
astrous cut in prices or raise prices Tor
products to the point OF oppression. Hence,
the courts, while recognizing the right of
corporations to transact their legitimate
business, declares that whenever they
prove a public menace they become enc
mics to the commonwealth, disobedtent to
the law and are liable to be destroyed.
Decision Strengthens Government.
Does this mean that there is to be a re-
alignment of ideas on the subject of pri-
waite ownership The conclusion is ire
sisi6le that IN the central government
rests the power to determine that the in
dividual or the corporation transacting any
business that Is Interstate In It's character
cannot hold, maintain or operate any prop
erty that results in injury to the public.
Surely such a contention in effect materially
tends to centralize power in the national
government.
1t seems to me that It is our common
duty to lend his ability, his goodwill and
TO utilize his citizenship against every In
eursion of capital seeking to invade the
laws of the states, or in any sense appears
q public menace.