The Delta independent., 1908-10-02
J0URNEY|MG IN
LAND OF DREAMS
lmpracticabie Democratic PROPOSE.
tion for Trust Control.
Convincing Exposition of Fallacy Of
Bryan's Panacea for Solving
Problems of Modern
Business.
tFrom Gov. Hughes Youngstown

speech
When we consider remedies that are
proposed for the trusts, we find our
selves journeying in land of dreams.
Again the magician Of 1896 waves his
wand. At 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 16 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-
lusion of 1908 is comparable only to
that Of twelve years ago.
The first suggestion is that the law
should prevent n duplication OF d.
rectors among competing corporations.
However advisable ii may be to have
independent dlrectorates of competing
corporations, II would seem still more
important TO have independent stock
holders. for majority OF the stock
holders of corporation choose the d.
rectors. II law were passed pre-
venting the duplication of directors 1t
would easily he evaded in the selection
pl nI'u WIN Mpulu TfIItNtlll lut ralut
interests. The most ordinary exper-
icnce shows that It Is not necessary 10
serve on a board Of directors in order
20 control its proceedings. Whatever
the advantage of such n law as is pro-
posed II hardly rises to the dignity Of
a remedy" or vindicates Its title TO 4
place In an imposing scheme OF reform
outlined In n national platform.
But the more important proposal is
that any manufacturing or trading
corporation engaged In interstate com
merce shall be required TO take out
federal license before II shall be per-
mittcd to control as much as - per
cent OF the product In 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
trol by any such corporation ''of more
than 20 per cent OF the total amount OF
any product consumed In the United
States This is another delusion OF
ratio.
II might he interesting to inquire
what is the meaning OF ANY product
consumed In the United States" Does
II refer 10 n class of commoditiesf
And. IL SO. how shall the classes be de
fined; or does IT refer TO each sepa-
rate article OF commerce; And. II 40.
what account does this proposal take
OF the skill and initiative OF manufac-
turers who have built up n more or
less exclusive trade In particular ar
ticies. often protected by trade emarks.
although In most active competition
with other articles designed for the
same general purpose and seeking the
same market? In desire TO correct
the evils OF business are we TO place
an embargo upon honest cndeavor
whose activities present none OF the
abuses requiring remedies? And. II
not. what statutory definitions shall be
found TO be adequate and just II we
lay down our prohibition in terms OF
volume or ratio OF business and not I'm
terms OF right and wrongg II we
adopt Mr.. Bryan's proposal. to what pc
riod OF production is the prohibition
to apply IL the excess for day or
for "A month TO he considcredY or Is |
the average production for year to be
takeni 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-
scribcd ratio? lie may justly la re-
quired TO govern his own conduct. but |
how shall he be npprised 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 n private mon
opoly Is indcfensible and intolerable?"
Dryan's Crude Reasoning.
An example of Mr. Bryan's reason
ing is found In his statement that
''when n corporation controls 90 per
cent OF the total product 1t supplies
forty millions OF people with that prod
uct." There are, of course. spccialties
which have limited market and are
used by n relatively small number OF
the people OF the United States. More
than 80 per cent. and indeed even as
much as 100 per cent OF the trade In
such articles may be in the control
OF particular corporation. This may.
I'm fact. be relatively n small corpora
tion II may never have aspired to the
unsavory rcnown Of trust" But by
prosecuting Its particular line with
fidelity and meeting satisfactorily II
limited want; or by reason OF some
secret processes or advantage OF expert
encc, II may control the tra1a in Civ
en- article OF commerce. Or. suppose
concern controls the whole trade in