The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1906-09-06
TAFT SETS FORTH
REPUBLICAN
POLICY
IN SPEECH IN WHICH HE Ex.
TOLLS ROOSEVELT AND ALL
THINGS HE HAS DONE.
FAVORS REVISED TARIf F
Himself But Does Not Speak for Party
knocks Trusts and Corporations
Secretary Hailed as Next
President at Meeting.

Bath, Maine. Sept 8 Secretar
Taft addre sed large audience her
tonight and was given an enthusiast
greeting II was Secretary Taft's onI,
appearance during the Maine cam
paign He was introduced by Harold
f. Swell. formerly United States con
sui at Hawaii. whose guest he is Will.
here.
Sewel spoke of Taft as the proD
able success or to Pres dent Roosevelt
Taft in part said
propose this evening to invite you
attention chiefly to a subject. that has
a very important bearing upon the Is
sue presented TO you in this can.
paign whether you shall return Re
publican or a Democratic house OF
representatives Ie refer to the evils
arising from the misuse and abuse OF
the powerful instrumentalitics which
the free opportunity to organize and
combine capital has placed in the
hands of the comparatively few So
widespread have these evils become
that the public has demanded rene
dies by legislation TO restrain them
and to regulate and supervise more
carefully in future the exerc Sc of tac
mighty means Of good and evil which
organized capital has proven to be.
Character of Abuses of Capital.
For the sake OF clearne in ex
amining into the character of the evil
and abuses which need restraint anG
punishment we may divide corporation
guilty of them into industrial corpora
tions. organized for the purpose a.
manufacture and sale Of merchandise.
and into railroad and other corpora.
tions. organized for The transportation
I passengers and goods Lei us deal
FIST with industrial corporations. The
valuable consideration moving to the
public for comforting the privilege ana
franchise necessary IN the incorpora-
tion of capital in such corporation, is
the public benefit TO be derived in the |
lowering cf prices. The temptation to |
the managers, however, when the ei:.
terprises become very large is to |
suppress competition and maintain !
prices and thus to deny to the publ { /
its proper share in the benefit sought
to be attained, and to appropriate 10
the corporate owners all the profit de
rived from improved facilities Of pro
duction
One method of suppression of com
petition is by agreements between al
the large concerns engaged in the
same business to limit the OUTPUT and
maintain prices. Such agreements ar
usually secret and are difficult for
public officials to obtain proof of: but
when these agreements do become !
public and are successfully prosecuted |
This method is abandoned. and the |
corporations that acted
together under secret agreements 10
prices are absorbed into one
great corporation. so that the larg
proportion of the producing capital IN
4 single industry is placed under one u
'outrol. Then competition with the o
rust thus formed is excluded hy H.. 7
senionS contracts of sale with middle. II
non. distributors and retail dealers. .
who are coerced by the agents of the
rust into a maintenance of retail
'rices and withdrawal of all patron i
ge from smaller Independent and
producers through The i
knowledge and fear that the trust in
ines of active demand for its pro
ucts will either refuse to sell or will
ell only at discriminating prices 10
hose who do not comply with it, con
itions of sale The evil result Of such
and the injury which
as flowed from them have givea
reat importance to the principle of
w that acts done with the intent and
,sulf OF injuring another may become
nlawful and actionable when done 81
= many persons or by the use Of
any different instrumentalities com.
ned for the purpose although the
me acts with the same intent when
me or attempted to Dc done bv nnr
'rson singiy woud not be unlawful m
cause neither oppressive nor dan in
rou= in result. This is he basis for Re
antitrust legislation ,,o
Mr. Roosevelt. as president. from
p very first. devoted his great enei. nv
es to facilitating and pressing on ini
= work Of suppressing the trust evil fes
d The abuses of organized capital
Reform in Regulation Necessary.
The necessity for reform in the VI
gulation of the railways. Of this &c
mtTv. and closer governmental BE
peryisioa than that afforded by the tod
erstate Commerce act of May 1857. ba'
IS clear TO Mr. Roosevelt. dre
all
GCoBtagea uu second Fassl n