The Yale expositor., 1908-07-31

trolling 45 or so per cent. of the products
may by well known methods frequently
effect monopoly and stamp out compe-
tition in any part of the country as COM
pletely. as II 1t controlled 60 or 70 per cent.
thereof.
Proper Treatment of Trusts.
Unlawful trusts should be re-
strained with all the efficiency of in
junctive process and the persons en-
gagged in maintaining them should be
punished with all the severity OF Grim
inal prosecution. in order that methods
pursued in the operation OF their bust
ness shall be brought within the law
To destroy them and to eliminate the
wealth they represent from the pro-
ducing capital of the country would
entail enormous loss, and would throw
out OF employment myriads OF work
ingmen. Such result is wholly UNI
necessary to the accomplishment OF the
needed reform. and will infiict upon the
innocent far greater punishment than
THE Democratic platform does not
propose to destroy the plan OF the trust
physically, but ii proposes to do the
business of this country is largely de-
pendent upon protective system OF
tariffs. The business done by many of
the so-called trusts is protected with
the other businesses of the country.
The Democratic platform proposes to
take off the tariff in all articles COM
duced by the so-called trusts and to
put them on the free list IL such
course would be utterly destructive OF
their business as II is. indeed, II would
not only destroy the trusts. but all of
their smaller competitors.
Effect of Democratic Policies.
"To take the course suggested by
the Democratic platform in these mat
tiers is to invoke the entire commu-
nifty, innocent as IL is. in the punish
ment of the guilty, while our policy
is TO stamp out the specific evil.
This difference between the policies
Of he Toe Ng aH nfnI
Importance, in view of the present con-
dition of business. After the years of
the most remarkable material develop
ment and prosperity, there comes imam
cial stringency,, a panic, an industrial
depression. This was brought about
not only by the enormous expansion
of business plants and business invest
ments which could not be readily con-
verted. but also by the waste of cap
ital in extravaganza of living, in wars,
and other catastrophes. The free
convertible capital was exhausted. In
addition to this the confidence of the
lending public in Europe and in this
Citations of irregularity, breach OF
trust. over issue of stock. valuations OF
law and lack OF rigid state or ma
tional supervision in management of
our largest corporations. Investors
withheld what loanable capital re-
manned available, ii became impossible
enterprises to borrow money enough
for new construction and reconstruc-
ton.
Restoration Of Prosperity.
Gradually business is acquiring a
healthier tone. Gradually wealth.
which was boarded, is coming out to
be used. Confidence in security OF bust
! ness investments is plant of slow
growth and is absolutely necessary in
! order that our factories may all open
! again, in order that our unemployed
| may become employed and in order
! that we may again have the prosperity
hat bac lis re -
! identity of the interest of the capital
! of the farmer. the business man and
the wage Garner in the security and
| profit of investments cannot be too
! largely emphasized. submit TO
! those most interested, to wage earners
to farmers and to business men, wheth-
er the Introduction into power OF the
| Democratic party, with Mr.. Bryan at
! its head. and with the business con-
struction that II openly advocates as
a remedy for present evils, will bring
about the needed confidence for the
restoration OF prosperity.
The Republican doctrine OF protee.
Republican convention this year, and
! by previous conventions is that tariff
shall be imposed on all imported prod
mine. sufficiently great to equal the
| difference between the cost OF produc-
ton abroad and at home, and that this
! difference between the higher wages
paid in this country, and the wages
paid abroad, ana embrace TedsOndple
| profit to the American production.
Advantage Of Unions.
ITO give to employees their proper po-
! siton in such a controversy TO enable
! them TO maintain themselves against
employers having great capital. they may
well unite, because In, union there Is
! strength and without IL each individual
laborer and employee would be helpless.
The promotion OF industrial peace
through the fundamentally OF the trade
l. s.ffa nf he nf
such union when intelligently conducted.
There is large body OF laborers,
however, skilled and unskilled, who are
not organized into unions. Their rights
before the law are exactly the same as
those of the union men, and are to be
protected with the same care and watch
I'm order to induce their employer into
a compliance with their request Tor
changed terms OF employment workmen
have the right TO strike In body. They
have n right TO use such persuasion as
they may, provided IL does not reach
the point of duress. TO lead their reluc-
tant co-laborers to join them in their
union against their employer and they
have right, II they choose, TO accumu-
late funds to support those engaged In
a strike to delegate to officers the pow
er to direct the action OF the union, and
to withdraw themselves and their as
sociates from dealings with, OF giving
custom to- those with whom they are
in controversy.
What Labor Cannot Do.
What they have not the right to Dc
is TO injure their employers property, to
injure their employers business by use
OF threats or methods of physical duress
against those who would work for him
| or deal with him or by carrying on what
! is sometimes known as a secondary boy
| colt against his customers or those with
whom he deals in business. All those
who sympathize with them may unite
to aid them in their struggle, but they
may not, through the fundamentally OF
a threatened or actual boycott compe
, third persons against their will and hav'
! ing no interest in their controversy e
come TO their assistance. These princi
pies have for a great many years beer
settled by the courts of this country.
Threatened unlawful injuries to busi
/. ness. like these described above, can only
be adequately remedied by an Injunction
to prevent them. The jurisdiction OF 6
! court Of equity TO enjoin In such cases
arises from the character OF the injury
(. and the method of inhicting IL and the
fact that suit for damages offers no ade
quate remedy.
THE injury is not done by one single
7 act. which might be adequately compen
stated for in damages by a suit at law
=