Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1908-07-30

Difference Between the Parties
The chief difference between the
Republican and the Democratic plat
forms is the difference which has
heretofore been seen between the pol
icies of Mr. Roosevelt and those which
have been advocated by the Demo-
cratic candidate, Mr. Bryan. Mr.
Roosevelt's policies have been pro-
gressive and ~regulative; Mr. Bryan's
destructive. Mr. Roosevelt has fav-
ored regulation of the business in
which evils have grown up SO as to
stamp out the evils and permit the
business to continue. The tendency
of Mr. Bryan's proposals have gem
orally been destructive of the business
with respect to which he is demand
ing reform. Mr. Roosevelt would
compel the trusts to conduct their
business in a lawful n and
secure the benefits of their 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 bust
ness in order to stamp out the evils
which they have practiced.
Advantage of Combination of Capital
The combination of capital in large
plants to manufacture goods with the
greatest economy Is just as necessary
as the assembling of the parts of a
machine to the economical and more
rapid manufacture Of what in old
times was made by hand. The gov
eminent should not interfere with one
any more than the other, and when
such aggregations of capital are legi-
innate and are properly controlled
they are then the natural results of
modern enterprise and are beneficial
to the public. In the proper opera
ton of competition the public will
soon share with the manufacturer the
advantage in economical operation
and lower prices.
What Is an Unlawful Trust?
When, however, such combinations
are not based on any economic princi-
pie but are made merely for the pur-
pose of controlling the market to
maintain or raise prices, restrict out
put and drive out competitors, the
public derives M benefit and we have
a monopoly. There must be some use
by the company Of the comparatively
great size of it's capital and plant and
extent of its output, either to coerce
persons to buy Of 1t rather than of
SolliC COlllpSllIOI VI 10 COoTCe ELnOSG
who would compete with it to give
up their business. There must usual
ly, in other words, be shown an ele-
ment of duress in the conduct of its
business toward the customers in the
trade and it's competitors before mere
aggregation of capital or plant be-
comes an unlawful monopoly. 1t is
perfectly conceivable hat in the in
| fnrncf q 0f .no1n1,o,, ~4 =
great number Of plants may be legi-
timately assembled under the owner
ship Of n corporation. It is Inn
portant, therefore, that such large ag-
gregattons of capital and combination
should be controlled so that the public
MAJ have the advantage of reasonable
prices and that the of enter
prise may be kept open to the indi-
vidual and the smaller corporation
wishing to engage in business.
The mere, aggregation Of capital
is not a violation Of the antitrust law.
In a country like this where in good
times there is an enormous floating
capital awaiting investment, the
period before which effective compe-
tition by construction of new plants
can De introduced into any business is
comparatively short, rarely exceeding
a year, and is usually even less thar
that. The existence of actual plant is
not therefore necessary to potential
competition.
Big Plants Not Monopolies
Many enterprises have been organ
lied on the theory that mere aggrega-
ton of all or nearly all existing plants
in a line of manufacture without re-
gard to economy of production, de.
stroys competition. They have most
of them gone into bankruptcy. Com.
petition in a profitable business will
not be affected by the mere aggrega-
ton of many existing plants under
one company, unless the com.
pany thereby affects great economy
the benefit of which it shares with
the public or takes some illegal meth.
, Cd to avoid competition and to per.
petuate a hold on the business.
: Proper Treatment of Trusts
Unlawful trusts should be restrain
Led with all the efficiency of injunctivl
process and the persons engaged IL
maintaining them should be punished
l with all the severity of criminal pro
secution, in order that methods per
sued in the operation of their business
shall be brought within the law. T,
destroy them and to eliminate tn
wealth they represent from the pro
ducing capital Of the country would
t entail enormou loss and would throw
out of employment myriads of work
/ ingmen and working ONE Such
. result is wholly unnecessary to tn
accomplishment of the needed reform
and will inf1ict pom the innocent ia
greater punishment than upon tn
c guilty.
: Destructive Democratic Policy
e The Democratic platform does no
propose to destroy the plants of TIL
t trust physically, but it proposes to d
: the same thing in a different way
\ The business of this country is Target
r dependent upon a protective system Q
tariffs. The business done by many o
: the so-callcd trusts is protecte
n with the other businesses of the coun
try. The Democratic platform pro
t poses to take off the tariff on all art
cles coming into competition wit
those produced by the so-callc
: trusts" and to put them on the FIRE