Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1912-02-13
SAYS SHE ERMAN LAW
IS RELIC Of
PAST..ACE
BEVERIDGE SPEAKER
AT DENVER BANQUET
Former Senator Declares Oil
and Tobacco Trusts With Ap-
provaI of Courts Are More
Alive Today Than Ever,
IBy Morning Journal special Leased wire


Denver, Feb, l2.-Former United
states senator Albert j. Beveridge OF
Indiana, was the guest of honor and
principal speaker here tonight at the
Lincoln Day harmony banquet of the
republicans of Colorado.
Every faction of the party was rep
editors of the state were present AS
guests of United States senator Gug-
genheim.
The harmony feas, WAS presided
over by T. II. Devine. a newspaper
publisher of Pueblo.
Mr.. Beveridge restricted his speech
To IA discussion Of national problems.
Mr.. Beveridge described the Sher-
man law as n relic of the seventeenth
century and said the oil and tobacco
trusts are more alive today than ever
before. because they now live under
the expressed approval of the courts:
while not one wrong they have IN
flicted on the people has been ended.
Mr., Beveridgc's address In part. was
as follows:
ITO deal with the instant need of
things--this was the method Of Abra-
continue to be the party of Lincoln,
our party actively must do the work
we lind before us instead of idly prais-
ing the work our fathers found be-
fore them. hut which Is not behind
us.
"Oui own progress has built up "A
condition and problem-the condl-
tiun of vast sums OF money at work
producing and distributing the neGes-
stiles of the people. and the problem
Of handling that masscd wealth so
that II may serve and not wrong the
people.
More than two decades ago, con-
gress passed law. a re-enaetment oi
an English statute of the seventeenth
century That curious statute was
meant to prevent trusts--not To rem
e2v their evils. Yet II utterly has
failed even to check their growth, and
has not even touched their evils. since
| It's enactment organized capital en-
castd I'm industry has developed more
fully than In the whole history ot thf
VCrld before. Administrations of both
political parties have dealt with that
law with equal futility. scores 90
courts have ground out an unheard-o -of
volume OF decisions on II without
avail. The last of these were the de-
crccs of the federal court under the
Judgment of the supreme tribunal of
the nation in the cases of the tw"
grcatcst trusts on earth.
yet the oil and tobacco trusts are
more alive today than ever because
they live under the express approval
of the courts. while not one WRONG
~ hicn they have inflicted on the pe"-
pie has been ended. Though these
mighty agencies of commerce have not
been hurt in their bad possibilities, the
smaller ones have been hurt in their
good possibilities. No two American
business men today can agree on the
mutual conduct of their affairs ana
be absolutely sure that they are now
law breakers.
German trade is ahead of ours.
What is the secret of this Nothing
but common sense. The Gcrmnns do
not put ball and chain on German
business no, they put wings on its fly
ing feet The German people do not
say to German workingmen look out
for yourselves and the devil take the
hind most: no they even see that every
man who tolls IL insured. The German
people do not say To their farmers.
sell in the cheapest and buy In the
highest market-your welfare is no
concern of ours. no. they SAY help
German capital and labor to capture
the worlds trade and YOU farmers
shall have the highest prices that the
spoils of the victors can bestow
The time has come when We Amer.
leans must at least equal this COM
mon sense statesmanshiP of rival ma
tions. First Of all. we must give Ameri-
can business free hand Tor honest
work: hut we must see that II Is honest
work. We must see that that free hand
is not the pirates hand. We must open
the oceans of American business 50
that All honest merchandise may sail
the seas of honest trade unhindcrcd;
and that they may do SO. We must
clear the waters Of ou~ commerce
from every buccaneer.
Let American business men know
wher, they are and then tell them
To go ahead and God speed and pros
per them Let clear and practical
laws take the pace Of foggy and
sentimental statues. Let bodily inn
take the place Of money
fines. Pass law making u crime
for any interstate corporation To Is
sue stock that does not have behind
Il assets equal to hundred cents
on the dollar Do our mighty busi-
ness concerns raise prices In one part
OF the country and lower them In an
other to the financial advantage of
the men who manipulate those prices
and To- th. injury of the people Then
l,asS a law making % crime for any
int rstat.. corporation to do that *
eept A. the difference In cost -
justifies II. Do these
powers 81 pillsge in American busi- /
ness invest In the nomination and
election ~ public Officials. and In
uniting expert politicians IN control /
II marty organizations which deter
mine those others Then raSs ma /