The Washington herald., 1907-05-03
Bryan and Bexeridge ON rrnsts

William J. Bryan and Senator Beveridge
clash in the May number Of The Reader
on the subject Of trusts and their treat
ment. Mr Bryan argues for the "disso-
luton Of every private monopoly and the
prevention of new ones" Mr. Beveridge
on the other hand. stands for the regula-
tion and cure of the admitted evils which
have arisen out of the use OF immense
capitals in industrial and commercial en-
.terprises. believing that centralized indus
trial organization is a product of natural
economic forces, and that its benefeent
results may be preserved without annihi-
lating the efficient machinery Of produc-
ton and distribution" developed by our
great captains of industry. The Indiana
Senator. therefore. appears as a defender
.of centralized and highly capitalized In
dustriaI organization, under governmental
regulation intended TO avert the public
dangers attendant on such organization.
while Mr.. Bryan opposes such centralized
industry. at least in so lar as it tends to-
ward private monopoly.
Both disputants have legislative plans
for the regulation OF corporations which
run closely parallel. Mr.. Bryan brings
forward the national license idea pre-
sented by him 10 the Chicago trust con-
ference some years ago. and recently in
dorsed by the administration. a Federal
statute Of few lines, says Mr.. Bryan,
will provide for an interstate license
and forbid a State corporation to do busi-
ness outside Of the State of its origin
without securing such a license. A few
more lines viii set forth the conditions
upon which the license may be secured
conditions which will make a private mo-
nopOly impossible" IN his address at the
Chicago trust conference, Mr.. Bryan
thought Federal license should be
granted on conditions which would, first,
prevent watering OF stock second, prevent
monopoly in any branch of business, and,
third. provide for publicity as to all the
transactions and business Of the corpora
ton. He would now add to these condi-
tions a fourth, "one arbitrarily fixing the
total proportion Of the total product that
the licensed corporation would be per-
mitted to control" He would further
make il unlawful for any corporation to
hold the stock of another corporation, and
would forbid the election of any person as
a director or other official of two or more
corporations which are either competitive
or engaged in transacting business with
each other Mr. Bryan appears 10 think
the power Of Congress over Interstate
commerce ample TO impose all these eondf-
tions upon corporations doing an inter
state business. His view is that while
Congress has no power 10 interfere with
State corporations so long as they confne
their operations TO the State Of their
origin, it is within the scope of the pow
ers Of Congress to prescribe the terms
upon which a corporation organized in any
State shah engage in interstate COM
merce,
Mr.. Beyeridge is familiar with this line
Of reasoning, for he has used it himself
with force and effect often enough in the
Senate. but he is willing to go a stem
further in Federal regulation, and place
corporations doing an interstate business
entirely within the control Of the Federal