Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1904-04-08

bottles rs cents and 80 centA
washington letter
April 8-When Congressman Little
field. last year., had printed in the
Congressional Record his list of 800
trusts, with nearly $14, 1000, 600, 900 of
capital, the country was startled at
the exhibit Now comes Mr.. John
Moody. Wall Street publisher. with
new book entitled 1.-THE Truth
About the Trusts which gives Us
even higher figures.
Mr.. Moody gives a classified list of
the leading trusts in the United
States. He gives s1s important indus
trial trusts, controlling 5,28S plant
having. a total capitalization out
standing of 81, 246, 342, 533. He enum-
crates. III important franc trusts
telegraph. telephone, gas, electric
light and street railway consclida-
tions), controlling 1886 plants, and
having total outstanding capitalize-
ton of So, 7S5, $50, 075. He discusses
the six great steam railroad groups
with total capitalization Of SO. Off,
086, 907, and the ten allied indepen-
dent railroad system having capital
lzation Of $3.50, 81, 900.
After mentioning the fact that there
is in this country about $50, 600, 000,
600 of wealth outside of the trusts
discussed In Mr.. Moody's book, the
Wall Street Journal of March 18th
makes the following very significant
statement:
ut should not be overlooked that
the trust wealth is the most import
ant, in that it largely controls all the
other wealth. The trusts are In con-
troll of the transportation facilities
of the country. They are practically
in control of Its banking facilities,
and they control Its main industrial
systems. Through control of the
banks, the railroad and the leading
industrial companies, directors Of
these trusts practically direct the
business of the country. and when 1t
is said that Of the $40, 600, 0G0. 600 Of
trust capital in the United States,
upwards of 81, 600. 600, 900 is held by
one family, and that the greater
amount is represented by group Of
perhaps a dozen capitalists, one gets
some conception of the immense pow.
er which is welded in this country by
a few capitalists.
The fact that the Wall Street Jour-
nal. and to- some. extent also, Mr..
Moody, attempts to justify the exis-
tence Of these trusts is Of no conse-
quenoe. It Is of great Importance that
nearly all of the truets, with over
$40, 600, 600, 600 of capitalization, are
illegal combinations and would pro-
badly be so declared, if they were
brought to the bar of justice. Our
easy-going Attorney General. how
ever, got frightened when he won a
suit against one Of them. really be-
gun by the governor of Minnesota,
and hastened to tell them that the
government was not going to run
amuck" in it's opposition to trusts.
Wall Street interpreted this statement,
and other assurances that were said to
come direct from the White house, to
mean that there would be no more
suits begun against these illegal and
criminal trusts this year. and pro-
ceeded to put up the prices of trust
stocks. The Supreme Court decision
was given on Monday; on the follow
ing Saturday the prices Of these trusts
stocks closed higher than they had
sold for many weeks before Even the
stocks of the Northern Securities
Company. against which the Supreme
Court decision was rendered. sold up
about s points within one week from
the rendering of the decision.
It il perfectly safe to>say that the
present occupant of the White House
knows full we'll on which side Of hit
republi can bread Is the trust butte,
and that he will not do anything te
greatly disturb the harmonious rela'
tions which have for many years ex'
listed between the republican party
and these hundreds Of tariff fostered
and franchise trusts. Certainly moi
this year. Il these great criminal
show their appreciation for favors'
as they usually do, by fattening ~
the republican campaign fund.
! March 28-There is q disposition
here on the part of many democratic
senator's to fight the appropriately
asked for by Senator Cortelyoo, OF tb'
Department of Commerce and Labor
They say that he does not hesitate K
ask for money galore, but that n