The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1906-03-23
WHETHER ARE ~ DRIFTTNG?

nOmic problem Of our time, the New
York Journal Of Commerce says that
one Of the first results OF this trans
formation is that everything possess
ing commercial value is turned into
gold. Prices have advanced well nigh
beyond reach Of the masses; million
aires have marveIousIy multiplied; the
banks are unprecedentedly plethOric
with the floating balances Of the new
" rich; billions Of watered stock Is
sued by these new creations have been
installed on the stock exchanges; and
on every hand we are astOunded by
the riot Of wealth
Not to be hippantly prophetic, it
may be prudent to look forward to a
day Of revealing. when the outcome
Of these grand transitions will as
found an. awakened nation. At the
moment, We are not IN a position to
estimate nicely the fUturities OF these
things. A very influential minority
are now drunk with the new wine OF
trust speculatiOns and, so long as their
fntOxicatiOn lasts, buOyancy will be
maintained in the interests they are
fostering. But who in his senses can
regard the present situation as nor
maI2 or as exempt from dangers IN
tried and difficult OF control? The
real test Of the trust system has yet
to come, when, cOincidentIy with the
violent reaction that always follows
speculative OVERRIDING, everything IN
deserving Of confidence IS subject to
the merciless verdict Of the public
judgment This, however, is but one
of the judgments which the trust sit
uatiOn and system awaits
The system must also face an or
deal OF a still more trying character.
It embraces the weightiest political
and social issues. which must be sub
mitted to the judgment Of the country
in its highest tribunals Graver is
sues than those which viii then have
to be met have already been present
ed for a nations arbitration.
Among the questions then to be ad-
justed must be such as the following:
Cd Did the corporation laws existing
at the organization OF the trusts au-
thOrize the transfer Of the rights and
powers Of such corporations to the
trust cOmpanies2 CD If not, are the
trust companies Iegal2 CD If they
did authorize such transfers, is it law
full TO use the powers acquired by
such transfers for mOnOpolistic puT-
poses? Cd Is the operation OF mo
nopoIy compatible with the rights Of
the citizen to the unhindeTed pursuit
OF industry? CD Is it sound public
policy to permit the amaIgamatiOn Of
two or more corporations into one,
without concurrent restraint or Tegu-
Iation in the interest Of free cOmpe-
titiOn? CD II monopoly is lawful
and the trusts can perpetuate their
restraints upon free competition, what
effects therefrOm may be expected
upon the division OF wealth, the
healthy development Of industry, the
peace and welfare OF the country and
the maintenance OF republican insti-
tutions? These queries, though not
little discussed are far from having
received their final answer
The last word is more likely to
come from the economist The trusts
and their professional apOlogists may
befog the masses on the economic
side Of the issue; and that being ac-
cOmplished, the legislators may be
the more easily brought into line. But
there is a powerful spectacular argu-
ment which will not be disposed Of so
readily A counting Of heads is what
the trusts have most to fear 1t viii
soon be found possible to give an ex-
act accounting OF the trusts, Of the
handful OF arch-milIionaires who run
them, Of the milliards Of capital that
have been Iured into them, Of the
number Of minority stockholders who
have submitted to the dictatiOn OF the
spacious leaders OF these schemes;
and when these telling statistics re-
veal exactly the length and breadth
OF this mOnstrOus economic heresy to
every voter in the land, we may ex-
pect a very decisive verdict from the
final jury Of the nation
That will be the day Of judgment,
and the verdict viii show what guilt
there is in this business; what pen
elites shall be melted out and on what
lines the vast wealth OF the United
States shall thencefOrward be dis
tributed. Then our people viii have
q clear prospect for their material
rights and liberties, and neither mo-
nopoly nor any millionaire oligarchy
viii find a shelter under the newly de-
fined democracy. How far these fore
shadowings may be realized must de-
pend upon the faithfulness Of the PEG
pie to their civil obligations.