Belding banner. (Belding, Mich.) 1889-1918, 1908-09-17
JOURNEY|KG IN
LAND OF DREAMS
lmpracticabIe Democratic PROPOSE.
ton for Trust Control.
Convincing Exposition Of Fallacy OK
Bryan's Panacea for Solving
Problems of Modern
Business.
(From Gov. Hughes Youngstown
spaech \

(From Gov. Hughes Youngstown
speech
when we consider remedies that are
proposed for the trusts, we find our
selves journeying In a land Of dreams.
Again the magician Of 1896 waves his
wand. At a stroke difficulties disap-
pear and the complex problems OF mod
ern business are forgotten In the fas-
cinatlon Of the simple pnnacea. And,
as the free coinage Of silver In the
ratio of 10 to was TO destroy the
curse OF gold, so the new found specific
OF equal perfection is TO remove the
curse OF industrial oppression. The de-
fusion OF 1908 is comparable only TO
that Of twelve years ago.
The first suggestion is that the law
should prevent duplication of di-
rectors among competing corporations.
However advisable II may be TO have
independent directorates Of competing
corporations, 1t would seem still more
important to have independent stock
holders for a majority OF the stock
holders Of a corporation choose the di-
rectors. II a law were passed pre-
venting the duplication OF directors IL
would easily be evaded In the selection
of men who would represent the same
interests. The most ordinary exper-
fence shows that II is not necessary 10
serve on board OF directors in order
to control its proceedings. Whatever
the advantage OF such a law "a Is pro-
posed, IL hardly rises 10 the dignity OF
remedy" or vindicates Its title TO a
place in an imposing scheme of reform
outlined In a national platform.
But the more important proposal Is
that any manufacturing or trading
corpora ton enga ged in interstate com
merce shall be required to take out a
federal license before II shall be per-
I1itted TO control as much as % per
cent Of the product in which IL deals"
A license Is permission, and the object
Of the remedy is not to regulate large
businesses. but TO destroy trusts. Hence
the supposed efficiency of the plan Is TO
be found In the prohibition Of the con-
troll by any such corporation "of more
than 30 per cent of the total amount Of
any product consumed In the United
States This is another delusion Of
ratio
IL might be interesting to inquire
what Is the meaning of amy product
consumed in the United States" Does
II refer TO a class OF commodities ?
And, If so, how shall the classes be de-
fined2 Or does IL refer to each sepa-
rate article OF commerce? And II SO,
what account does this proposal take
OF the skill and Initiative of manufac-
turers who have built up a more or
less exclusive trade in particular ar
ticles. often protected by trademarks,
although I'm most active competition
with other articles designed for the
same general purpose and seeking the
same market7 In desire to correct
the evils OF business are we to place
an embargo upon honest endeavor
whose activities present none Of the
abuses requiring remedies? And. II
not, what statutory definitions shall be
found TO be adequate and just n we
lay down our prohibition In terms of
volume or ratio of business and not In
terms of right and wrong7 If we
ADOPT Mr.. Bryan's proposal. to whzt.ps-