The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1908-08-25

stroyed" if morals were introduced
into it? When the licensed corpora
ton reached point where 1t con-
trolled one-half of the business in
which it was engaged, il would. &C
cording to the Democratic plan, have
TO step expanding. Would it 'extirpate
and destroy" business to put this lin
itation upon the greed of a few eorpor-
ations? Surely our plan could not in.
juriously affect corporations that
might hereafter seek to establish a
monopoly.
But possibly Mr.. Taft thinks that il
would "extirpate and destroy" business
to apply the plan TO existing monopo-
lies. Let us see: Suppose We have a
corporation now controlling IS per
cent Of the output of the article in
which it deals. and through this con-
troll, regulating the price and the terms
of sale. How would the Democratic
plan affect it? A date would be fixed
at which the law would take effect,
| and on or before that date the corpor-
alton would be required to apply for
license. The evidence would show that
1t controlled larger proportion of the
product than the law permitted, and Ii
| would be compelled to sell off enough
of its plants to reduce its output to so
per cent of the total product 1t could
then comply with the law. obtain its IL
cense. and proceed to carry on its bus
mess in accordance with the law
Would it 'extirpate and destroy" bust
ness to compel such a corporation to
dispose of enough of its plants to re-
duce its production to so per cent :?
The people would still need the article
which it produced, and the plants
which it was compelled to sell would
become independent plants competing
with 1T. This competition would re-
duce prices, and the reduced prices
would increase the demand for the ar
| ticle, and this increased demand would
stimulate the building of more fac
tories and give a larger employment
to labor. The restoration of competi.
ton in that industry, instead of "extir.
pating and destroying the industry,
would revive and enlarge it. A part
of the benefit would go to the consum-
ers in the form of a cheaper product
and better product, part would 60 to
the producer of raw material in the
form of better price, and part would
| go to the wage-earners in the form OF
better wages. The only persons to
lose would be the trust magnates, who
would no longer be able to collect divi-
dends on watered stock by controlling
he
alyzed it will be seen that Mr. Taft
must either be in darkness as to the
remedy and it's effect, or he must argue
that the introduction of morals into
| business would "extirpate and destroy
business.
I have quoted and re-quoted Mr.
Taft's language because / want to i'm.
presS upon the minds of those who
listen to me the absurdity of the OBJ
lection which he raises to the Demo
cratic plan of exterminating monopo-
lies. He fails to distinguish between
the honest business that makes a
country prosperous, and the brigand-
age practiced by private monopolies.
The people have been robbed by the
trusts to the extent of hundreds of
millions a year. and IL Mr.. Taft is not
yet conscious OF what is going on. and
not yet aroused to the iniquity Of these
trusts, how can the country hope for
relief through his election?
The Democratic party is the defen-
der of comretition and the only great
party whici is seeking to restore COM
petition. Mr.. Taft has, in the discus
sion of this question, employed harsh
words instead of argument. The word
"socialistic" is hurled at the Democrat
ic party and the Democratic platform.
Now, as a matter of fact, Ii is Mr..
Taft's party and not the Democratic
party which has given encouragement
to socialism. While protesting TO abb
hor socialism, the Republican party
has gone half way toward socialism In
endorsing it's fundamental principle.
The socialist bases his contention on
the theory that competition is bad. and
that an economic advance is to be
found in monopoly. The socialist, how
ever, wants the public to have the ben
| eft Of the monopoly and, therefore, IA
vors government ownership and oper-
alton of all the means of production
and distribution.
The Republican party has gone al
most as far as the Socialist party in
the economic defense of the monopoly,
! but 1t permits the benefits of monopoly
| to be enjoyed by comparatively few
men, who have secured dominant in
| fiuence in government | beg TO call
| Mr. Taft's attention to the fact that
/ the Republican party has stimulated
the growth of socialism in two ways:
/ First, by the endorsement that ii has
| given TO the theory that trusts are a
natural and necessary outgrowth OF
| our economic conditions. and. second,
| by permitting the development OF
! abuses which have been charged
| against individualism. If he will ex-
anime the vote published in the World
| Almanac, he will find that in 1900 the
| Republicans polled 7,20s .244 votes and
| that the Socialists polled but IS .s91:
/ in the same almanac. he viii find that
| in 1904 the Republicans cast 1926. 4s9
| votes and the Socialists 402. 2s6. Not
Whilst snding the fact that the Repub-
| licans Nave boosted of their last ma
| tional victory, their party polled but
| $4,000 LNore votes that year than