The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1903-04-10
GREAT SPEECH.
He Analyses Republican Can't
trust" Bills.
THEY ARE REALLY TRUST BILLS.

Shielded and Beneited-Real Evil
Is In Power to Monopolize and to
Control Prices.
One of the soundest and meatiest of
speeches made during the present ses-
sion of congress was made on Jan. 81
by Congressman Pou Of North Carroll
ma. Mr.. Pou summed up all Of the SO
called antitrust" bills proposed by the
Republicans and said that they were
either to require publicity or to pre-
vent discrimination. AS to publicity
he said:
ut really looks, Mr.. Chairman, as if
the substitute bill were drawn to pro-
tect the trusts which are now Cypress
ing the people, for upon it's very thresh-
old the bill exempts all Of these law
breakers from its operation. 1t pro-
vides that every corporation which
may be hereafter organized shall at the
time of engaging in interstate or for
eign file the return herein
after provided for l do not believe
that the publicity required by this bill
will afford any substantial remedy, but
it appears that a majority of the COM
mittee for some reason have left abso-
lutely exempt from the operation of the
bill all corporations except those which
may be hereafter organized. What
have our great lawbreakers done that
they should be thus favored by the ma
jority of the committee? Why should
they be permitted to enjoy this advan-
tage? Why should they be permitted
to live in the shadow while new trusts
must live in the sunlight?
"A favorite expression Of our Repub-
lican friends is that there are good
trusts and bad trusts. The majority
of the committee have evidently observ-
ed this distinction. The old trusts are
the good trusts. Those that are to be
hereafter organized are the bad trusts.
The old trusts may operate in the dark.
The new trusts must operate in the
light.
What will be the effect of this ex-
emption? If your publicity idea
amounts to anything, if it is of any
real benefit to the people, If its effect
shall be to force the trusts to comply
with the law, then, in my opinion, it
will be a long time before any new
trusts are organized. Old charters will
be bought in order that the law may be
evaded, and it will be many years be-
fore any bad trusts will rise up to chal-
lenge the supremacy Of the good trusts
which you are permitting to live in the
dark.
"Rut what will your trusts care about
youl publicity requirement anyway?
The good trusts, those that are to sit
in the darkness, care but little about
the publicity Of their operations. We
know they water their stock. We
know that nearly all Of them are over
capitalized.
1.-THE requirement Of publicity does
not accomplish what both political par
ties have promised to perform. Pub
licity does not strike at the root Of the
evil. 1t does not strike from the hands
Of the consumer the shackles which the
trusts have put upon him. Everybody
knows he Is at their mercy. What does
the trust care SO long as congress leaves
the consumer in its power? The pub
licity idea is not a very bright idea.
1t will not fool anybody. It is a make
shift. It is merely to temporize with a
great question, which will be regarded
with contempt by the American peo-
pie.
..The majority Of the committee
shows great solicitude for investors in
trust stock, but is silent as to the well
fare of the millions who are forced to
consume the products Of the trusts.
The person who owns stock in a trust
is a part of the trust. The majority of
the committee seems anxious to pro-
tect him. They feel sure publicity will
do this, for even Mr.. John D. Rookie
Teller advises publicity. Actually the
majority of the committee have incor-
porated in their report the suggestion
Of Mr.. John d. Rockefeller, who
they say, is understood to be at the
head of M Of the largest Industrial
corporations in existence They say
in this report that even Mr.. Rockefel-
Y Sd0SAoCN pNUlSAty Lib
statement before the Industrial COM
mission Then they quote the evidence
OF Mr.. Dill, who they say, has very
large experience in the organization Of
corporations, is the author Of several
works upon corporations and was the
attorney organizing the United States
Steel corporation,
4These gentlemen approve publicity.
Therefore publicity Is efficient. 1t will
correct the evil. Publicity is the
a whereby the trusts shall be
forced to do right, for the trusts them
selves say so. This is the logic of the
Republican majority Of the committee
After exposing the shams OF the bills
and showing that they would really
protect present trusts and by prevent
Ing cutting In rates increase railroad
earnings, Mr.. Pou proceeded to point
out the real evils OF trusts and.to sug
gest real remedies. He said:
eMr. Chairman, the great evil which
menaces the happiness of millions In
this republic is not overcapitalization
In the formation Of trusts. it is not In
watered stock. it Isl not In lack OF pub.
III 80 ~