Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1903-10-01

duct Is exported in the cans made
from the imported tin, but 1t must be
borne IN mind that any person or any
corporation can import tin with ex-
actly the same privilege. With re-
spect to the product itself, there Is no
duty upon 1t, and II there were, Il
would be dead letter, for there is
not an oil field In the world that can
import into the United States petro-
leum and compete with the Standard
OH company IL its product were admit
ted free. But | repeat, that there Is
no duty on petroleum. There Is pro-
vision Of the law which declares that
II any country imposes duty upon pc
troleum exported from the United
States, that a similar duty shall be
imposed by the United States upon pc
troleum exported from such country
into the United States. There is no
country which can import petroleum,
the law is of no consequence whatever
to the users of the article, and the
tariff has nothing whatever to do with
the greatness, the exactions, or the
inJustice,-in a word, the monopoly,
OF the Standard OIL company. II Is
perfectly fair for public speaker to
point out the evil effects of so i'm
mense and successful a combination,
but IL Is wholly unfair to impute what
ever evils he may discover to the OPP
Grafton OF ...e tariff.
Trusts.
l pass from this altogether too ex-
tended consideration of our tariff sys-
tenn. to another principal feature OF
the democratic platform. The repub-
lican administration IS arraigned in
the severest terms on account of the
existence of certain corporations,
which, though widely different in ev.
cry respect. have been, by loose gen.
eralization grouped together and
termed trusts" 1t Is alleged that
they are bad and ought to be extermi.
mated from the business world. It Is
further alleged that they spring from
the protective system and that there
fore the system ought to be abolished.
Within the limits of any political
speech It Is impossible to considernthe
subject with that fullness which its
Importance deserves, but when we do
discuss the affairs of these corpora
tons. it is in the highest degree nee
essary that we maintain our compos-
ure. 1t is somewhat difficult to do
this, because hysteria seems to be In
the atmosphere as we approach the
topic. I will do the best I can to talk
of them uninfuenced by the fear
which they seem to beget. 1t Is ad-
mittea that there Is economy In cen.
traliZation, and unquestionably many
Of the consultations have been
brought about to reduce the cost of
production. No reasonable man will
or can complain of the enlargement of
a corporation for the purpose of re-
ducing the cost of tho things which II
produces. There Is n point. however,
beyond which 1t Is not economical to
aggregate industries, and many Of the
so-called trusts have passed that
point. and we must therefore seek for
some other motive underlying tho
combination. The vast increase OF
wealth In modern times and the init
macy of those who possess II have In.
troduced two other elements into these
combinations. The first Is the desire
20 make money out Of the mere organ
ization through the medium of gross
overcapitaiizations This Is utterly In
defensible, disastrous to the country,
and demands the speediest and the
most effectual remedy that can be de-
vised. think there Is a remedy. and
I believe II will be applied, but mas
much as It Is not an issue between the
parties, do not dwell upon It.
pause only to remark that In the re-
publican platform of this year Ia to be
found the only suggestion that COM
mits any political party to reform in
the organization of such corporations.
1t is In these words: 3y rtn ..a.
I'VE believe that the large corpora
"tions commonly called trusts should
"be so regulated and supervised, both
"ln their organization and operation.
that their evil tendencies may be
checked and their evil practices pre-
vented" .n.. d.. ..t ..rt.n g..
1t is my firm belief that II all corpor.
atoms are so organized that the az
gregate par value of their bonds and
stocks is limited to the actual value of
the capital contributed to the corpora
ton. the trust question will not long
vex the people Of the United States,
and fervently hope that all parties
will unite to hasten this much needed
reform. .. .,.F g.,. r...a & a-
The second element in these corpor-
ations to which have referred Is the
desire to stife or restrict competition.
II Is as natural for producers to seek
the death Of competition as II for them
to breathe. II Is the common, ordi-
nary, motive Of business enterprise,
and the man who will voluntarily
share his market when he can monop-
olize 1t. Is too good for this world.
The individual or the corporation
that can overcome actual competition
by producing better wares or by sell
ing at lower price or by superior
Is not the enemy, but
the friend OF mankind, for there al
ways remains the potential competi-
ton which insures absolute safety for
the public. The corporation or asso-
citation, however, that Is brought into
existence for the express purpose or
competition by the pur-
chase or consolidation of Independent
plants covering the whole field, and
that proposes to destroy the force of
potential competition by the same
method, Is vicious and unlawful COM
bination, and all the powers Of gov
eminent should be employed for its
What has the demo
cratic party ever done or proposed to
do in this direction? Nothing except
to clamor for free trade, remedy
whose blighting effects, like the show
ers of Heaven, fall upon the Just and
unjust alike. On the contrary. the