The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1911-10-19
HILL OPPOSES
ALDRICH P N

commented upon the unsatisfactory
business conditions of the country,
and declared that great business, par
icularly the railroad operations,
were at a standstlll because SO many
important business interests are
either under fire or apprehenslve Of
assault" Nearly all the outcry and
activity against corporate wealth he
asserted is for political effect
rather than moral reform
The proof of this he said, us the
simplicity and effectiveness Of the
real remedy, which is not applied II
would be an easy matter to put an end
TO the abuses OF both monopolIes and
trusts. Enforce the laws agains.
those who break them, and the for,
mer Will disappear. The trusts will
'anish as soon rs they are compelled
Q show that every dollar OF their
capital stock has been paid for in
cash or property and labor at fair
valuation. oblige every corporation
to do this, under penalty of an as
sessment on stockholders to make
good any deficiency in capital or sur
plus, or else scaling down Of cap
italization to actual values, and the
trusts would not long bother any
body. Many are less interested in
restraining trade than in selllny
stocks and bonds not representing
actual value received or used in their
business. Present conditions wi re-
quire some review and reform of
transactions already accomplished
which should not exist in the face
of facts that are being brought to
light.
Examine the political nostrums
now most talked OF as saviors Of
society, humane in intent though
many of them be, and it will be found
that they all involve the continued
expenditure OF large sums OF money,
o be collected by taxation. The men
who pay these taxes are the holders
of property. The men who vote these
expenditures are the taxpayers plus
that considerably more numerous
body of electors who either pay no
taxes or share so inconsiderable
that its increase or decrease is not
felt. Hence constantly increasing
disposition in the nation and the
states to change the distribution OF
wealth by legislation; taking it by
enormous appropriations from those
who have accumulated 1t and scatter
ing 1t among those who did not. The
end Of such a system may be delayed.
but it is not doubtful. Capital is ex-
hausted and is not renewed. The mo-
tive van!shes. The public is educated
to refuse work, to spend lavishly, to
look TO the state rs the COW that can
keep everybody supplied with al,
tie milk he may want indefinitely.
Labor suffers in the end, exactly rs
it does when It's three meals per dal
are reduced to two or one. Activity
Town down. The total amount OF
wealth in the country diminishes,
both by removal to other commune
ties where It's security and its reward
are greater and by the steady en-
croachment Of consumption on pro-
duction, National indulgence APP
Iproaches.
But perhaps the worst effect of all
is seen in the deterioration of nation
al character As people comes to
believe that wealth may be and should
be distributed by state and opportun-
ity of the individuals who create 1t,
envy, greed, hatred. and every form
of malice flourish, and may even ape
the form Of virtue. Materially and
morally this substitution OF man
made, arbitrary methods for the
working Of permanent natural forces
working though well established
economic law leads to national de-
cay"
Taking ~ the question of currency
reform IN detail. Mr.. Hill said:
The banker of the country are
now studyin and discussing the plan
proposed by Senator Aldrich to the
Federal Monetary Commission for
its reform lie and his associates
have done ! memorable work, They
have made lie first comprehensive
and scientific study of the currency
ever completed in this country. Their
conclusions should be received with
great respcc, but they should also be
studied witt great care. Every de-
feet that wns Endorsement, every
weakness mat it might develop in
operation. v..I react unfortunately by