The Barre daily times. (Barre, Vt.) 1897-1959, 1908-01-31
For MonOpOIies, Said John W.
Redmond Last Night
BEFORE yINcITIA CLUB
Chairman Of State Railroad Commission
Stated That Natural Monopolies
Are a Necessity and Must Be
Recognized as Such.

Chairman John w. Redmond Of the
state railroad commission was the speak
er and guest Of honor at the largest
attended and one Of the most enjoyable
meetings ever held BY Vincitia club 1t
the clubs quarters last evening. While
Mfr, Redmond's talk was on the general
industrial progress OF the world, he took
occasion to state his firm belief that
monopoiies, that is, natural monopolies,
are necessities and that the sooner the
American people recognize that fact the
better The remedy, he stated, is not
government ownership, buJ government
regulation. He held further that any
public utility Is subject to regulation
because of the fact that it is d necessity
to the public, citing, IN illustration, the
celebrated case Of Mum vs. the State
of Illinois, III which the United States
supreme court held that the plaintiff,
owner of grain elevator, must elevate
grain without discrimination
Nr. Redmond was introduced by S.
a
the railroad commission, and for an hour
the speaker gave very interesting as
we'll as instructive talk on some Of the
industrial conditions Of the day. He
was listened to with the closest atten
tion and enthusiastically applauded at
the close
IIe began BY citing some Of the funda-
mental principles OF political economy
and saying that during the past 100
years on more. this country has settled
its great political questions and the
leading questions that are before this
country to-day are economic questions
questions that have to do with the dis
tlibution of wealth.
Wealth, he defined as being the prod
net Of labor on raw materials, with the
result that the product is tit To crafty
some human desire No matter how
necessary thing is 70 man, il is not
wealth unless it has ben made by labor,
noting, later, the single exception of
uneai1ied increment. Wealth lies 1T the /
basis ii human society," Capital Is
wealth. but all wealth IS not capital. I
Capital is a portion Of wealth that Is I
devoted to the production Of more
wealth.
All the wealth in the world is very
he declared II Is short
lived and soon disappears, 50 that it is +
that we be creating more I
wealth. Wealth il consumed, lie affirm. I
ed, in two ways; BY productive consump. +
tion and BIZ non-produetiye consumption. I
The production 0f wealth consists Of T
the exercise Of labor on raw materials /
Labor Il eNhanstible, while wealth is
but man has been able bv (
genius to wonderfully enlarge
The worlds wealth 20 that never il
the history 81 the world has There been
% much wealth as there is to-day The
total wealth Of the world is estimates
1t i've hundred billions, and of this the
United States has one-ffth.
We have many millionaires in the
world to-day, but, relatively speaking,
hey have no more than a man with a
few hundred pounds in Caesars time,
Tor the reason that the wealth OF the
world haa SO largely inereased and Just
% long as man il able To work and tise
bis inventive genius the wealth Of the
world will continue to increase
lothing that viii better regulate the
distribution Of the wealth Of the world
70 that it viii be used in the production
II more wealth and not become non
productive. than competition does, He
declared that there was nothing like
to take the worlds wealth
md use it for the best interests Of man
lind. He further claimed that the best
to handle wealth Is the one
sho holds it, because the very reason
hat he has his millions and has the
lhility to hold them insures this fact.
Fhe rich man uses his wealth in pro-
Iuetiye consumption Of just what the
world needs.
Competition, he declared. is the saliva
ion of this country economically. and
Iothing IS TO be feared 50 long as com
'etition IS free. A great deal is said,
e stated about getting rid Of eompe
ition by way Of governmental owner
hip, but he thought that the right way
sas governmental regulation.
The great question in this IS Just
where regulation shall start Where
here is monopoly OF a thing that is
necessity for the public, he declared,
Gas the starting point for governmental
equation. He explained that there are
wo kinds of monop0lies, artificial and {
atural Our industrial revolution has
ome to stay and in it are The natural
nd the public monopolies; we must
lex them out and regulate them. z
During the evening enjoyable selcc- i
ions were played by the mandolin club 7
nd A. " Allen recited two humorous 7
ieees in his usual pleasing manner. Re !
reshments Of sandwiches. salad, punch, O
afers. olives and cheese were served {
t the conclusion of the programme. u
A special effort had been made to {
lcrease the club membership by 25 new
lembers this month, and as a result 32 f
lembers were voted into the club last 4
rening, 25 being new members and seven
s-iBetatements The meeting was at
snded By about $50 of the members S
tier the business meeting a smoke /
Tx was held which proved verx en-
,rtainin9. The following IS the list Of S
sv members. 2. \. Wheeler. A w 3
erhardf. Charles Cushman. David Bird, 4
lexandef Milne. q II Douglas. 6. W 3
orman, Charles G. Kenyon. G A. Brown,
{ Frank Harris. g. H. Bennett. Ear &
Davis, @. + nhilbriek John "a Moore. q
j. Owens, F. A. Mccarthy, Dau A. 7
cry, a. j Young, William S. Page s.