The sun., 1908-11-01

come protsolion. Ths issCsssafy eject
q sucb proceedlng Monld ba g Z eiees e.
American WoTisnen out Of employment
and compel our people 70 make ell their
purchases Of the particular articles con-
ceFned In Europe, This would not merely
be ruinous TO the competing American
manufacturer. az we'll as 10 the trust.
hut would be most disastrous In its eject
upon mercantile trade. The products
mercantile houses; the wholesaler buys
from the mill; the retailer buys from the
wholesaler and ell over the country there
are large stocks Of goods kept at the points
whore they arc available for the consumer:
Under Mr.. Bryan these merchants would
be Obliged to continually face the danger
that, the value of their stocks OF goods
might be suddenly greatly decreased by Q
decision of some officer somewhere that the
articles which they have on their shelves
are to be classed as trust controlled articles
and are to be put on the free list and
food of free foreign competition brought
In to undersell them.
Mr.. Bryan's platform declares that as
to ell articles In which American manu-
facturers compete with foreign manu-
factures the, tariff must be reduced 10
O revenue basis; that Ia TO say that no
duty shall be imposed with view OF
protecting American manufacture. Little
attention is being paid to this subject in
this campaign. but that is what Mr..
Bryan proposes to do and will do IL elected.
and In electing him the American people
would commit themselves to the abandon
ment of the policy of protection.
i shall not argue the question OF pro-
lection and free trade here. but suppose
that the most earnest believers In the
not dispute that the immediate effect Of
Withdrawing protection would be to close
q great multitude of American manu-
factories, turn the workmen employed in
them into the street and render the capital
invested in them valueless. 1t is with
that immediate effect upon the business
Of the country that l am dealing now.
and that would be the effect OF MIR. Bryan's
election.
FEDERAL LICENsE FOR CORPORATIONS.
MIR. Bryan's platform proposes that
any manufacturing or trading corpora
ton engaged in Interstate commerce
and all the large ones are engaged in
interstate commerce-shall be required
to take out a Federal lioenss before II
shall be permitted to control as much as
Is per cent. OF the products in which it
Gll the concerns which hold them to sell
TO all pur chnssrs in all parts Of the country
on the same terms after making due
allowances for cost Of tran 5portatfon.
All the leading concerns making or deal.
ing in any of the tens OF thousands OF
particular kinds of articles made and
sold in this country are to be subject TO
this limitation. .4
1 will not dwell upon how the facts
are to DO determined for the purpose OF,
enforcing such a provision. That must
necessarily be by some executive officer
in Washington. for manifestiy 1t would
be impossible that the courts should per-
all the greet business Of the country.
i will not dwell upon the tremendous
centralization of power in Washington
which would be involved In this. but
point 10 the fact that such q proposal
would destroy the right Of private con-
tract on the part Of the great producers
and merchants Of the country and would
impose upon all business the same linz
itations which are properly imposed upon
common carriers in the Performance OF
their public duty Of transportation, for
which they have received franchises
from the public. Under such provision
no great manufacturer or merchant
could make prices to his customers TO
suit the conditions and requirements OF
his trade. No matter how important IL
mi ght be for him to reduce his stock, no
matter how great might be the necessity
of making sales to raise money for the
continuance of his business, no matter
how important it might be for him to
keep his workmen employed, he could
not shave, prices for the purpose oi sec1r-
ing an advantageous contract below the
prices at which he had sold to somebody
else in some other State.
Manifestly to enforce this it would be
nece ssary that merchants and manufac-
turers should file schedules Of their prices
and. then be subject 10 prosecution IL
they sold at any different prices. There
is no manufacturer or merchant who will
not recognize the impossibility of conduct
ing the business of the country under any
such system.
WHAT BRYAN STANDS FOR.
have now given eight specific instances
in which Mr.. Bryan has become known to
US as the advocate Of measures which the
plain, common sense OF the business men
Of the country recognize rs measures In
consistent with the success Of enterprise
and the safety OF investment. These
specific measures are the free coinage
Of silver, initiative and referendum, the
Government ownership Of railroads. the
enforced guarantee OF bank deposits, the
arbitrary fixing OF railroad rates without
inquiry into the facts, the putting OF trust
controlled articles on the free list to the
ruin OF American competitors, the with
drawal Of the protective element in the
American tariff, the requirement OF Fed
eral licenses Most Of these are viola
tions Of those universal laws which control
the development and progress OF the
business OF the world, here and everywhere
mot laws voluntarily adopted, but laws
imposed by human nature, essential ele-'
ments In the great processes OF produc-
ton and trade and not subject TO the con-
troI Of any government whatsoever.
EFFECT tPoN BUSINESS.
Now, L ask you to consider the effect
upon the business OF the country Of put
ting in control at Washington man who
has the, will and the power to do all these
things ... r
What manufacturer will have the con-
fidence to risk money In the purchase Of
raw material and OF machinery, and pay
ment of wages for manufacture IL a ma
jority Of the people put into power party
which believes in withdrawing all pro-
In putting all such articles as some execu-
tive officer In Washington 10 moved to
declare under trust control on the free list.
80 that at any moment the product Of man
ufacture may be subjected to unrestricted
foreign competition?
What merchant will have confidence to
risk money in the purchase OF stocks Of
goods from foreign or from American
producers " some executive officer in
Washington is liable at any moment TO
destroy their value by the removal Of the
duty under which they were purchased
and has power to prevent their owner
from selling them according to the needs
Of his business TO such customers as he
can find and at such prices as he can getf I