Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1908-09-24
JOURNEY|NG IN
LAND OF DREAMS
Impracticable Democratic PROPOSE
ton for Trust Control.
Convincing Exposition of Fallacy Of
Bryan's Panacea for Solving
Problems of Modern
Business.
(From Gov. Hughes Youngstown
gDpech


specify
When we consider remedies that are
proposed for the trusts, we nnd our
selves journeying in land of dreams.
Again the magician Of 1896 waves his
wand. At a stroke difficulties disap-
pear and the complex problems Of mod
ern business are forgotten In the fas-
cination of the simple panacea And,
as the free coinage Of silver in the
ratio OF 10 to l was to destroy the
curse OF gold, so the new found specific
OF equal perfection is to remove the
curse Of Industrial oppression. The de-
fusion of 1908 is comparable only to
that Of twelve years ago.
The first suggestion is that the law
should prevent a duplication of d.
rectors among competing corporations.
However advisable it may be to have
independent directorates of competing
corporations, ii would seem still more
important to have independent stock
holders, for majority of the stock
rectors II law were passed pre-
venting the duplication OF directors II
would easily be evaded In the selection
OF men who would represent the same
interests The most ordinary exper-
fence shows that 1t is not necessary 10
serve on board OF directors In order
TO control Its proceedings Whatever
the advantage of such law as Is pro-
posed, II hardly rises to the dignity Of
remedy" or vindicates its title TO a
place In an imposing scheme of reform
outlined In a national platform.
But the more important proposal In
that any manufacturing or trading
corporation engaged In interstate COM
merce shall be required to take out a
federal license before 1t shall be per-
mitted to control as much as Is per
cent or the product I'm which II deals"
A license Is permission, and the object
OF the remedy is not to regulate large
businesses, but to destroy trusts. Hence
the supposed efficiency of the plan is to
be found In the prohibition Of the con-
troll by any such corporation "of more
than 80 per cent of the total amount of
any product consumed In the United
States" This Is another delusion Of
ratio
1t might be interesting to INQUIRE
what is the meaning of "any product
consumed In the United States" Does
it refer to a class of commodities?
And, II so, how shall the classes be de-
lined? Or does it refer to each sepa-
rate article of commerce? And. III So
what account does this proposal take
or the skill and initiative of manufac-
turers who have built up a more or
less exclusive trade In particular ar
ticles, often protected by trade marks,
although In most active competition
with other articles designed for the
same general purpose and seeking the
same market? In a desire to correct
the evils OF business are we to place
an embargo upon honest endeavor
whose activities present none of the
abuses requiring remedies? And, IL
not, what statutory definitions shall be
found 20 be adequate and just IL we
lay down our prohibition In terms Of
volume or ratio Of business and not In
terms of right and wrong? II we
adopt Mr.. Bryan's proposal, to what pc
riod Of production Is the prohibition
to apply? Is the excess for a day or
for a month to be considered? Or is
the average production for a year to be
taken? And what system shall be de-
vised by which suitable information
may be furnished in the nature of dan.
ger signals along the routes Of trade
so that the manufacturer may know
when he Is about to exceed the pre-
scribed ratio? He may justly be re-
quired to govern his own conduct, but
how shall he be appraised of the con.
duct Of others upon which is to depend
his guilt or innocence?
The patent laws confer true
monopoly In the exclusive right to man.
ufacture and sell. Are these laws to
be repealed because private mon
| opoly Is indefensible and intolerable:-
Bryan's Crude Reasoning.
| An example OF Mr.. Bryan's reason
| Inc Is found in his statement that
'swhen q corporation controls 90 per
cent Of the total product It supplies
| forty millions Of people with that prod.
net" There are. Of course. specialtIes
which have limited market and are
used by relatively small number Of
the people Of the United States. More
than 50 per cent and indeed even e
| much a. 100 per cent OF the trade in
such articles may be In the control
Of . particular corporation. This NAV
IN fact. be relatively small corpora.
tion. II may never have sspired to the
unsavory renown Of trust" But bv
prosecuting its particular line with
3delity and meeting enthusiastically =
limited want; or BY reason OF some
secret processes or advantage or experi-
ence. II may control the trade In a DIV
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