The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-10-21

locks. cages and bars that are a part Of
the fixtures Of the First National bank
of Chicago.
Il was told" he said, that these pre-
cautions We're to prevent the burglars
breaking into the vaults from the out
side. What we want is some protection
against the burglars already in the
banks.
Mr.. Monnett's Ratio.
He said that in the United States there
were $500 banks TO 100000 depositors
a ratio of $40 TO /. which in his opinion
should be the ratio of Bryan's vote to
that of Taft.
And il ought to be unanimous in
Utah." he added.
He said the most important issue OF the
canoaign was not the bank guarantee.
however important that might be, but
the regulation of trusts. and especially
of railroad rates.
IF you want a funny anecdote." he
said, read the Republican platform on
this subject and the speech of Governor
Hughes on the same subject.
Governor Hughes denounces Mr.. Bry-
ans attack of the trusts as an attack
on vested interests. If that is Bryan
ism. then / wish there were more of
them
Great applause followed this declara-
ton.
Mr.. Monnett read the Sherman anti
trust law to the audience. This law he
said, has been in existence for eighteen
years. In the first Mckinley admins
tration the law was tested. found to be
constitutional and In a civil action it
had been made operative in two in
stances, one involving thirty-one rail-
road companies, and the other more than
forty companies. Yet. in spite of this
fact. these companies had igIored the
courts action and were today amenable
to prosecution for contempt of court and
for criminal violation of the Sherman
antitrust law. He pledged the Demo-
cratic party to bring these companies
before the federal court on March
next, on these charges.
Northern Securities.
Speaking of the famous Northern Sc
Gurities merger, in which the Northern
Pacific. che Great-N Northern and the
Burlington railroads came under the
joint ownership of James j. Hill and j.
p. Morgan, Mr. Monnett said:
Ana in one night, at a mahogany ia
BILE in the office of Mr.. Morgan these
two men put a mortgage on your ground
IN this great northwest for $3.50, 600, 600 1t
was your territory that must pay for
this increased, fictitious valuation. Can
you conceive of IL? Your state auditor
! today told me that the estimated total
valuation of all your real estate in the
state of Utah, all your public buildings
all your SkyScrapers, all your personal
property. all your mines, all your live
STOCK and all your industries was about
500 .Oo.000- And this total wealth repre-
SentS the earnings. the savings and the
patient industry OF $4,000 people for three
generations. Yet in one night these two
men can create two and one-half times
that amount. These are the vested rights
of which Mr. Hughes speaks
If those men have the right to en-
ter on our property. tear down our hous-
es and build railroads across our farms
paying us for that privilege whatever d
jury may decide upon. then we have the
right to insist that those same men ope-
rate those railroads for a reasonable
profit on their actual investment and that
the rates which they fix for freight and
passengers shall not be eXOTbitant Or
| that if they are eXOrbitant, that the tax
es shall be on the earning capacity of
the road and as the rates increase so
should the taxes.
Could Enforce the Laws.
They have declared that Mr.. BRYAN
could not do anything. if he were made
president, because the senate is hone
1 lesssly Republican. Does he need the sen
ate to enforce the laws now existing2
/ With prosecuting Officers in every district
of the United States appointed by Mr.
Bryan, with grand juries chosen from the
great common people. the laws would all
be enforced, and no partially shown 70
any trust because of its contribution TO
the Republican campaign fund"
Mr.. MOnnett discussed briefly the trades
union question. declaring that the union
was one of the greatest agencies for the
uplifting OF man that there was to be
found in the country. He declared that
the fact that a labor leader is denied
trial by jury. which is granted TO the
I lowest of thieves, was blot on American
civilization.
THE hatters' case has Just been de-
cided." said Mr. Monnett land under
that decision even a peaceable boycott
is not permissible. That decision makes
outlaws of 100000 laboring men. vet
there are hundreds of heartless corpora
tons which are immortal. but which have
no souls. that are constantly violating
the law. and we have no prosecution of
them
The Standard Oil trust was then dis
cussed at some length by the speaker.
"Of the A. 10000 barrels of oil pro-
duccd each year. the Standard Oil trust
controls A 100000 barrels from the rock
20 the lamp 1t has undsputed control
Continued on Pane 2