The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-01-06
| DISCUSSION
OYER coal, DUTY
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peril, and it is mona the less real because
1t involves only the future and not the
Epresent. %ass39I =. ~
Fl The senator then took up the discussion
of the effect of the control Of vast wealth
by individuals, saying that in such a sys-
tenn there was much to threaten repub-
lican liberty. Most Of the vast fortunes
of the present day had been accumulated
within thirty years.
: Some Future Fortunes.
Els there anything to render it unlike
ly," he asked that if one of these vast
fortunes has grown from a hundred thou
sand to a hundred million or a thousand
| million in thirty years that in the hands
of the next possessorain another thirty or
| fifty years, the hundred million may be-
come hundred thousand million, or the
T thousand million a. thousand thousand
million? Is there anything to stop the
accumulation Of these snow balls? Can
not the same power and business ability
and capital that can control all the petro-
| leum in the country buy and control all
| the coal? Can it not, control the railroad
and the ocean carrying trade? Can it not
agricultural and grazing lands Of new and
great states and the coal mines and silver
mines and copper mines?'' =: Is
But, great as were the possibilities ot
the accumulation of great wealth by in
dividuals he did not find in such accumu.
lation the same peril that is found tn
corporate control Of such wealth.. This
was true,z he ssaidas bseaalse the natural
man dies and his estatf is distributed un-
der the law, while TIE Corporation lives
forever. 1T never goes through the pro.
| bate court" he said. : Its internal trans
actions were kept secret. It is not zeal:
Gus for Its own honor or reputation, ex.
cept SO far as its honor or reputation il
essential to its getting money. :. 1t has
the men who are most powerful in The
management rscan, if they see f1t avoid
responsibility to public opinion. They al
ways expect to avoid personal liberty FOL
! obligations" '..,.: ..r ~
/ - Fears Of a "NapoIeon." -.
The. senator said that now the 'greai
corporations are in good hands but sup.
pose some Napoleon of finance should
come. into the control of the THOUSAND
million dollars: would not that possibilit,
| be a real public danger? Such power
call make. wars or. it can prevent wars
It can threaten a community with a Goa
famine, a wheat famine and it can exc,
Ecute its threats. He had no fear but
that the American people could meet sue,
emergencies but it were better to- fore.
stall them. - ,.~% -
.NlI.s IlOdI. Lleu LOOh Tie question o.
the trusts as they now exist, pointing ou
what he conceived to be their chief evils
4 as follows.
f. eFirst-Destruction of. competition. =.
Second-The management of local industries
by absentees in the interest of absentee capital
Z s.Ihird-DestructiOn OF local public spirit.
T. .Fourth-Fraudulent capitalization. :
SFifth-Secrecy. -'' r.
Sixth-Management for the private benefit o.
officials. =.
r seventh-The power to corrupt elections ant
In some cases to corrupt the courts. - =
Efghth-The want of personal. responsibility. =
.Ninth-The absence of personal liability fo
contracts wrong doing. p -
Tenth-The holding of vast properties /,
| mortmafn-in the dead hand. If we may US
the ancient phrase of English law. But it ha
life enough for all purposes Of power to serv
:, the will that Yields It, 1t is dead only to th
influence of any nerve" which comes from til
: brain or heart of the. people. =
; Dwelling especially on the want Of com
petition, he said: 49,.
There is one central power alone wit
: which the skilled workman must deal an
: one dominant will to which he must sub
5 init. There may be a little help for hi1
, by joining a labor union, where he gets tn
advantage Of associated. strength on hi
: side but the labor union knows no differ
: ence between excellence and the reverse
I The inefficient man and the lazy man an
the duh man must stand on one dead leyt
with the brightest. and keenest and mos
ingenious of his comrades -. 4T,=e -
d, MIR. Hoar said that many as We're th
evils, in the, great comb inations of capits
some of them would be 5counterbalance