The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1908-08-25

CORPORATION can render an important
service to the public. The Democratic
party wants to employ every fnstru-
mentality that can be employed for
the advancement of the common good;
but the Democratic party draws the
/ line at the private monopoly. and de-
clares that private monopoly cannot
be justified on either economic or pol
| ftical grounds.
From an economic standpoint. a mo-
nopoly is Objectionable. The moment
a corporation secures a practical mo-
/ nopoly in the production or sale Of any
article, certain evils appear which
outweigh any good that can come from
large production or control. Wherever
| private monopolies exist, certain ire.
sistible tendencies manifest them.
selves First, 1T raises prices-this is
the first thing thought of for the in
creasing of profits. Then. in propor.
| ton as it becomes the only purchaser
| of the raw material, it reduces the
| price of the raw material. and the pro-
| Queer of that raw material, having no
| other market, must accept the price
| offered. In this way, too, the profits
| of the corporation are increased.
| Third, reduction in the duality of the
| product affords an opportunity for in
creasing profits. Fourth, reduction in
| wages follows wherever conditions will
| permit.
Competition protects the purchaser,
for when a number of independent pro-
| ducers stand ready to supply him with
| what he needs, he can choose between
| them and buy from the one who offers
| the best product at the lowest price
| He is also protected in quality because
those who compete for the opportunity
| to sell to him must show either ad
vantage in price or advantage in quail
| ity. Competition protects the man
who produces raw material, for when
| there are a number of bidders for that
which is being sold, he can accept the
highest price offered. Competition
also helps the wage-earner, for his
skill is the finished product which he
| offers upon the market, and where a
number of independent industries are
| endeavoring to secure the highest skill
| the skilled laborer has the best assur
| ance of obtaining fair recompense;
| when there is but one employer, the
employee must take the price offered
because he will lose the advantage OF
his experience IL he must go out to find
| different kind Of employment
The business men Of the country
| have felt the pressure Of the trusts
rybo no
| ter into contracts which restrict his
| management Of his own affairs, he has
| found the terms of sale and payment
| changed to his disadvantage, and he
| has been forced to carry more aad
| more Of the risks of trade. He Is con
| vinced that there are no good trusts
and that his only safety is in the Dem
ocratic plan which lays the axe at the
| root of the tree.
The travelling men naturally take
especial interest in the trust question
because the more complete the monop
| oily secured by a corporation the less
they are needed. We have no more
intelligent class than the representa-
| tives of commerce, and their retire
| ment from the road would mean Sc
| rious loss to the country, while few
| promoters would be the only persons
| benefited, they gaining by the capital
| ization of the salaries saved by the
elimination of competition.
Mr.. Taft either misunderstands CT
| misrepresents the Democratic position
In regard to the determination of the
| principle of private monopoly. In his
notification speech he says:
"Mr. Roosevelt would compel the
| trusts to conduct their business in a
| lawful manner and secure the benefits
of theis operation and the maintenance
Of the prosperity OF the country OF
which they are an important part;
while Mr.. Bryan would extirpate and
destroy the entire business in order to
stamp out the evils which they have
practiced."
| Here is a confession by Mr.. Taft
that he regards the trusts as necessary
| to the nations prosperity, for he de-
clares that they play an important part
in the maintenance of prosperity and
he charges that would "extirpate and
destroy" business in extirpating and de-
| stroying the principle of private mon
| opoly. Surely, his study of the trust
| question has been very superficial, if
he sees danger in the restoration of
a reign of competition.
Let US take an illustration: Suppose
| the Democrats succeed in the enact
ment of law in harmony with the
| Democratic platform-a law requiring
| every corporation to take out federal
| license before it is permitted to control
| Is per cent of the business in which it
| is engaged. Would this "extirpate and
| destroy" the business of the country?
| AS already stated, but very small
/ per cent of the corporations would be
| affected by the law, and those affected
! would be the ones that have been Civ
| ing the officers of the law so much
trouble during the last eighteen years.
| AS the licensed corporation increased
! its business from % to so per cent, it
would be under the watchful eye of
! the government; would be compelled
! to make such reports as the govern
ment required; would be prohibited
| from watering its stock, and would be
/ required to sell TO all customers upon
| the same terms, due allowance being
/ made for cost of transportation.
Would II "ertirpate and DESTROY busi-