Daily press. [volume] (Newport News, Va.) 1896-current, 1908-08-26

that he regards the trusts as neces
sary to the nations prosperity. for NJ
declares that they play an important
part In the maintenance OF prosper
ty. and he charges that ! wound "extlr
pate and destroy" business In extir
pating and destroying the principle ol
private monopoly. Surely, his study
OF the trust question has reen very
superficial, II he sees danger in the
restoration of reign Of competition.
Democratic Plan IN ustrated
Let us take an illustration: Suppose
the Democrats succeed In l-e enact
ment Of a law In harmony with the
Democratic platform-a law requiring
every corporation to take out q fed
eral license before 1t is permitted to
control twenty-five per cent of the
business In which II is engaged. Would
this "extirpate and destroy the bust
ness Of the country? CAS- already
stated, but a very small per cent OF the
corpOr atoms would be affected by the
law and those affected would be the
ones that have been giving the Of
ficers of the law so much trouble dur
ing the last eighteen years. As the
licensed corporation increased its
business from twenty-five per cent TO
fifty per cent. Il would be under the
watchful eye Of the government. would
be compelled to make such reports as
the government required. would be
prohibited from watering it's stock,
and would be required TO sell to all
customers upon the same terms, due
allowance being made for cost OF
Would 1t "extirpate
and destroy" business to require these
licensed corporations to do business
on an honest basis and to be reason
able in their business methods? Would
not the benefit accruing to the ninety
nine small corporations thus protected
from conscienceless methods be enough
to offset any evil effects that might
follow from such restraint of few
big corporations? Is business so de-
pendent upon dishonesty and unfair
ness that it would be "extirpated and
II morals were INTRODUCED
into it? When the licensed corporal
ina reached q point where 1t controli-
ed one-haH OF the business in which
It was engaged. it would. according 10
The Democratic plan, have to stop
Would 1t "extirpate ana
destroy" business to put this limita-
lion upon the greed of few corporal
ons Surely our plan could not In
iuriously affect corporations that
mie hereafter seek to establish a
Would Not Destroy.
But possibly Mr.. Taft thinks that II
would "extirpate and destroy busl-
ness to apply the plan to existing
Let us see: Suppose we
have a corporation now controlling
per cent Of the output OF
the article in which it deals, ana
through this control, regulating the
price and terms Of sale. How Wolid
The Democratic plan affect It? 4 date
would be fixed at which the law wnuia
take affect. and on or before that date
the corporation would be required TO
apply for a license. The evidence
would show that 1t controlled lars-
or proportion Of the product than the
law permitted. and it w0Iti re ccn-
PEELED to sell off enough OF lis plants
to reduce its output to fifty per cent
OF the total product. It :oal4 thch
comply with the law, oo'ail IT'S license,
and proceed to carry On It. business
I'M accordance with the law. Wouid
n "extirpate and destroy" business
to compel such a corr >ra:ion 70 cls-
nose of enough of its pl.nts 70 red'ce
its production to fifty pei cent? Inc
people would still need the article
which it produced, and the plants
which II was compelled to sell
would. become independent plants
with It, This compet1tloh
would reduce prices, and the redcce1
..r.ces would increase the l..,a M LOT
n. article. and this increas 81 ao"';,Hd
woril stimulate the building Of more
fac. J. les and fgive . larger ci'pso.
u,,n. L labor. The restoration q ee"h-
, .e,st,en in that industry. instead o.
"extirpating and destroying the IN
dustrv. would revive and enlarge II.
mart or the benefit would go to the
in the form Of a cheaper
nroduct and b better product. part
would 20 to the producer OF raw ma
terial in the form Of q better price,
and part would 60 to the wage eann
or, in the form Of better wages Inc
only ,ersons 10 lose would be tne
trust maxnate6 who would no longer
40 shle to collect dividens on water
ed stock by ccntrollins the market:
when the subject Is snalyzed II VII
h. lseeo that Mr.. Tau must either De
In darkness - 10 the remedy Eno ~
effect. Or he must argue that the IN.
reduction or morals into 0Msiness
mud -extirpate and Destroy busf
I ess
Absurdity Of Tast's oojees'o"
I have quoted and re-su2tec 30
Taft's language because ! want IN
nre.s mon the minds ~ those VINO
listen to me the absa:1itv OF the oc
section which he raises to the Demo
cratic plan Of ex.erminating monop@
Hes, He fails 20 distinguish between
the honest business taht MAKES a
country prosperous. and the br'eana
arc prarticed by private mooopoiies.
The people have been robbed oy tu ,.s
To the extent Of hundreds Of mi'iIo"