The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-08-29
TRUST PROBLEM IS
A QUESTION WHICH
Can Be UNRAvtLED
President Farrar of Ameri-
can Bar Association in Ad-
dress Says Each State
Must Solve 1t -Itself.
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the traditions of our free American
republics to find language properly to
characterize this radical intrusion. 1t
ts an assault on the citadel OF law and
order. 1t is an attempt to destroy the
Independence of the judiciary, without
which true liberty-the liberty which
Is regulated by law, enforced with rea-
son and elaboration, cannot exist, and
to substantiate the opinion and the
passions of the mob. IL drags down
the Goddess and sets the hydraheaded
Demos on the throne Of justice, and
enables the ignorant suffragan to os-
tracise a judicial Astrides, because
he Is tired Of hearing his judgments
called Just. 1t is more than probable
that this proposed legislation is one
of the symptoms OF the political, so
cial and economic unrest that pervades
the whole nation. The burning ueqs
ton that now agitates the mind of the
American people Is how to control the
corporations; how to break up those
great aggregations which seem to be
almost as powerful as the government
idtself, and how to prevent their forma.
rtion in the future.
Both Seek These Ends.
These ends are sought both by radi
Gals and conservatives. The radicals
of course propose to destroy things
generally, regardless of consequences.
The conservatives read the signs OF
the times, realize the danger of the
growing excitement among the mass
es of the people, and are seeking an
exit from the situation that will con-
! serve political liberty and industrial
! prosperity.
The stock corporation is now an alb
! solutely essential piece of machinery
in commerce. Without it the great
affairs of modern times would not have
i been undertaken, and il undertaken
would not have been accomplished.
In spite of all the enormous corpo-
rate development that has taken place
in this country and in England in the
last half century, and in spite of the
reckless throwing down by the states
of this Union of all the barriers an
ciently maintained against the indis-
criminate organization of business cor
porations there has always been among
the masses of the people Il strong bias
against corporations. manifesting it.
self In the verdicts OF juries, and some
times In the opinion of the courts. This
bias has now passed over ITO politics,
and the favorite ground O. attack by
the demagogue On anybody is public
life. or on anyone who desires to en-
ter public life, Is that he represents
corporate interest, or that he is a cor
poration lawyer.
The people themselves are respon-
sible for the conditions of which they
now complaint; If there are Franken-
stems In corporate from stalking over
the land. spreading terror and threat
ening destruction, the people them
selves have created them by their
duly accredited representatives in the
legislature of the states.
Greed for Revenue.
During the last ten years there
seems to have been competition be-
tween the states as to which of them
would be able to invent and adopt the
most unrestricted corporation laws.
The spur to this competition has been
q greed for revenue, and the encour-
tagement lay In the success of the
state Of New Jersey, which was the
pioneer In this legislation. Out of her
bosom have come the great trusts, the
holding companies and the gigantic
monopolies, all with their water-log-
ged capital stocks. But there are now
eight other states prepared to COM
pete with her in the launching of SINH
liar piratical craft upon the sea of com:
merce.
Whether these enormous corpora.
tons are formed by original incorpora.
ton. or by consultations or merger
or by the holding of the capital stocks
of other corporations, the economic
result Ia the same. Each of these
forms spells practical monopoly. The
result reached rather than the method
of reaching the result is what concerns
the public. and no amount of techni'
cal reasoning will convince the PEG.
pie that n monopoly produced by one
OF these methods is any different from
monopoly produced by any other of
them. Hence all these large corpora.
tions are popularity regarded as public
enemies. and there is a general be.