The Pensacola journal., 1907-04-28
BRIAN AND BEVERLDGE DISCUSS
TRUSTS AND THEIR TREA TDIENT
REGULATION; NOT ExTERMINATIoN
BY Albert J. BeVeridge.

porations land my only fear Is that il
is not it might be dovetaiied into the
national corporation plan until all cor
pOrationS and the whole American peO-
ple see the irresistible reasonablcness
of the necessity for the latter.
In the May Reader Senator Bever-
idge proposes the following legisla-
ton:
Here is a simpler remedy than either
national incorporation or national fran
chiSe: \ national law requiring every
interstate corporation doing d business
OF S5,0O0.000 or over which puts stock
Oh the markets conspicuOusly to pub
Iish the exact truth as 10 every posi-
bic item that might influence pur-
chasers. They should be compelled TO
state the price at which they bought
the property; the amount of actual i'm
proyements. both by description and in
dollars and cents, which they have
made upon it. and every other cOnceiv-
able fact This would prevent over
Capitalization" for nobody would buy
such "watered' stock; and, OF course.
if they could not sell the stock they
would not water it. This is the Eng
lish law to-day. 1t is simplicity itself,
and common honesty; and it can be
passed without either a national incOr-
poration or a national franchise law.
All that is necessary IS to require such
statements to be published and make il
a criminal Offense punishable by fine
and penitentiary if promoters diSObey
or make false statements. ! shall in
troduce such Il bill next session.
Another absolutely necessary rene
dy is the overhauling of the Sherman
law.
The next evil is that of corporate in
reference in politics | think this the
greatest evil of all. Heretofore cor
pOrations have attempted to run poll
tics, and until recently actually have
run politics. They have done this with
oney-"cOntributions TO campaign
funds" They have elected their agents
to seats in the nations legislature,
both house and senate. More than this
they have by these contributions" laid
both parties under distinct obligations
to them Had this continued it would,
in the far future, have destroyed free
government.
In reference to the Hartman Incl
dent Senator Beveridge says in the
May Reader:
But at this very session of congress
We have passed a law making it a
criminal offense for any national cor
poration TO contribute anything to any
campaign, and for any state corpora
tiOn to contribute anything in a ma
tional campaign. Let all men and cor
porations who think that they will get
hold on any president by contribut-
ing be undeceiYed.
The last evil of these trusts is
the most subtle and dangerous of all;
and | see no remedy for it in any posi-
Bile legislation. This is the purchase
and ownership by the interests of
newspapers and other organs of public
information and opinion. At strategic
points great newspapers are being
bought up by men who are either a
part of or are affiliated with mighty
financial interests.
For this evil there is no remedy but
in the people themselves. Somehow or
other the people come to know about
these things.
There are, then, the following evils
of trusts
''First-Rebates. We have ended
them
Observation-Disclosures We have
ended them
"Third-Bad meats and impure
foods. We have ended them.
'FOurth-Secrecy. We have end
ed it.
Observation-Disclosures. We will
end that, and are working on it now
"SiXth-Unjust prices. The ending
of ercapitalization will help cure
this, and, with publicity, perhaps en-
tirely cure it. Can anybody think of a
better remedy?
Seventh - Purchased 'newSDaDers'
and the corruption of public opinion
Only the people can end this by learn
ing to know such papers when they
see them And | bank on the good
sense and pure heart of the American
people"