The Nome nugget., 1903-03-18
THE CONTROL OF TRUSTS.

A short time before he died ex-Speaker Reed wrote an article for the North American Review in which he dealt with the trust question. It is broad guaged article, and shows Mr. Reeds wide grasp of existing political conditions in the United States. In dis cussng the dangers in gigantic corporations Mr.. Reed said: Are we to be exposed to the mercy of those people who pile up millions and have we 20 remedy by law constitutional amendment?" And he continues:
 Yes we have many remedies on the stump and it. the newspapers. But the experience of mankind is universal that providence has not left us to the stump-orator or the newspapers, to the statesman. Somehow-after much blunder ing, perhaps, but somehow-every new move ment has in itself the element of protection of the race. For instance, we are all afraid of mon opocs. We fear that somebody by some scheme will squeeze us permanently, and yet that has happened But, you will say, what prevent these great aggregatons of capital from charging what they like? The answer is that what prevents them from charging unfair price Is the well-founded fear that they will thereby risk and lose the all ready piled up. The fact is tha, every business man who knows that the on y monopoly anybody get, except the temporary of patents, to which one objects by producing article cheaper and selling it cheaper than any other maker. Whether such a monopoly Is obnoxious and 10 be stamped out leave to the wise Reclamation of the friends of the people,"
 He rdculcs ''publicity" as remedy for trusts
 Do you expect the pubc," he asks, ito be struced with the cost sheets If you do hot then what will your publicity amount to-? If you mean by pub licty' such statement will enable the outsider to buy wisely or the stockholder to sell at the true value, fear we may be going beyond the province of free government, which certainly thus far left the task of keeping his fingers out of the fire to the cti- whose fingers they were"
 Speaking of the proposal to amend the consttu- tlon for the purpose of limiting the amount of ''waer' in the stock of corporations. he said
 "Value of stock is very much matter of opinion, It will be noticed that the stock of one of our great est companies be bought for less than forty dol lars. The par value is one hundred In the judg- ment of the world there is 60 per cent water and in the market the water is squeezed out. Could egs- lature do it effectively? As that same stock sold at D, there time when there was only 45 per cent of water It is proposed in the consitu- tiona amendment to specify how often the test for water is to be applied? Are the stockholders to be assessed daily for the variations of each day. or are the directors to be indicted daily? Shall the officers of the government determine the value, or the public in open market?'
 The entire tenor of the article is, the country is doing we'll and should be encouraged to proceed in the manner that has brought such good results Let us' he wrote, mot be in haste about great mat ters. When you don't know what to do, don't do it. If the proposition is to press oak back into an acorn, it had better be carefully considered"