Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-02-27
WHITTIER ARE WE DRIFTINGS
Day of Judgment for the Trusts and
Their Back crs.

New York Journal of Commerce.
One of the first results of the transforma-
ton is that everything possessing CONNER
cial value Is turned into gold. Prices have
advanced well nigh beyond reach of the
masses, millonaires have marvelously null
tlplied the banks are unprecedcntedly Pile
thoric with the floating balances of the
newly rich billions OF watered stock issued
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 lippantly prophetic it may be
prudent to look forward to a day of re-
vealing when the outcome OF these grand
transitions will astound an awakened ma
ton. At the moment we are not in a posi-
ton 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 intoxica-
ton lasts, buoyancy will be maintained in
the interests they are fostering. But who
in his senses can regard the present situa-
ton as normal or as exempt from dangers
untrled and difficult of control? The real
test OF the trust system has yet to come,
when, coincidently with the violent reac-
ton that always follows speculative over
doing, everything undeserving OF conf
dence is subject to the merciless verdict of
the public Judgment. This however, is but
one of the Judgments which the trust sltua-
ton and the system awaits.
The system must also face an ordeal of
still more trying character. It embraces
the weightiest political and social issues,
which must be submitted to the judgment
of the country in its highest tribunals
Graver issues than those which will then
have to be met have rarely been presented
for a nations arbitration.
Among the questions. then. to be adjusted
must be such the following: a. Did the
corporation laws existing at the organiza-
ton of the trusts authorize the transfer
of the rights and powers of such corpora
lions to the trust companies? (2) If not,
are the trust companies legal? go II they
did authorize such transfers. is It lawful
TO use the powers acquired by such trans
fers for monopolistic purposes? "a Is the
operation of a monopoly compatible with
the rights of the citizen TO the unhindered
pursuit of industry? (5) Is It sound public
policy to permit the amalgamation of two
or more corporations into one. without
concurrent restraint or regulation in the
interest of free competition? (6) II monop-
oily Is lawful and the trusts can perpetu-
ate their restraint 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 mainte-
nance of republican institutions? These
queries though not little discussed are
far from having received their final an
swer
The last word is more likely to come
/ from the politician than from the econo-
mist The trust and their professional
I H.. a.,
economic side of the issue, and. that being
accomplished, the legislators may be the
more easily brought into line. But there
is a powerful spectacular argument which
will not be disposed of so readily. A
counting of heads is what the trusts have
most to fear. II will soon be found pos
/ sihle to give an exact accounting OF the
/ trusts, OF the handful OF arch millionares
| 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 sagacious
| leaders OF these schemes, and when these
telling statistics reveal exactly the length
and breadth OF this monstrous economic
heresy TO every voter in the land. We may
expect a very decisive verdict from the
final jury OF the nation.
That will be the day of judgment, and
the verdict win show what guilt there is
| in this business what penalties shall be
meted out and on what lines the vast
wealth OF the United States shall thence
I forward be distributed. Then our people
will have clear prospect for their ma
terisl rights and liberties, and neither
monopoly nor any millionaire oligarchy
viii ma a shelter under the newly defined
democracy. How far these foreshadowings
may he realized must depend upon the
faitrfulncss OF the people 70 their civil
Obligations.