Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1914-02-22
MADISON IN
1871 URGED i: i:
| TRUST: CHECK IC[
Old Essay Shows Problem
was Considered Serious
100 Years Ago

New York, FeD. Zl.-lhaL Janus
Madison, fourth president of the
United States. 100 years ago urged
the importance. of checking monop
DIV and curbing the spread OF corpor'
alton control became known TO-DAY
with the publication, in Harpers
Magazine for March, OF an hitherto
unpublished article by him. The ar
ticle, which President Madison call
ed "Monopolies, Perpetuities, COrpor.
.ations, Ecclesiastical Endowments,'
was. not: included In the collection
called, '"The Madison Papers" which
the government purchased from Mrs.
Madison. y '""5
Gaillard Hunt, chief of the division
of manuscripts in the Library Of Con-
gress, writes an introduction to the
Madison essay in Harper's Magazine,
in which he says: .
Madison retired from the presi'
dency in 1917. and died in 1896, nine
teen years later. This was the grow
ing period Of American nationality,
and 1t was during these years that
an enduring attachment was formed
for the frame Of government under
which the growth took place. SO.
as Madison had been the master
builder of the government, he enjoy
cd extraordinary prestige, and what
ever, he said on public questions was
regarded as oracular. He felt the
weight of the responsibility and ex.
pressed his views carefully, realizing
that he was addressing postcrity.'
TIA Madison's Own Words.
President MadisOn's essay contains
the following views on monopoly and
the mean Of. checking II:
"MonopOlies, though in certain cas-:
ess useful, ought to be, granted with
caution, and guarded; with strictness
against abuse. The constitution OF
the United States has limited them
to. two cases-the authors of books,
and of useful Inventions. in both Of
which they are considered as a con
%pensatiOn for abenefit actually gain
cd TO the community as Il purchase Of
property which the owner might Otll.
erwise withhold from public use.
There can be no Just objection to d
temporary monopoly in these cases;
hut it ought to ~ temporary because
under that Limitation a sufficient rec.
Ompense and encouragement may be
given.
"The limitation is particularly pro.
per in the case Of inventions, because
they grow SC much out of preceding
ones that there Is the less merit in
the authors; and because, for the
same reason, the discovery might be
expected in a short time from Other
hands. @
'In all cases Of monopoly. not ex
cepting those in favor of authors and
inventors, II would be we'll to re-.
serve to the state, "a, right to extin.
guish the monopoly by paying a spec,
flied and reasonable sum. This would
guard against the public discontents
resulting from the e%xorbitant gains
of individuals, and from the incOn
venient restrictions combined with
them. This view Of the subject sug,
gested the clause in the bill relating
to J. Rumsey In the@VirgiIia leglsla
ture in the year 1884, providing tina,
the state might cancel his privilege
by paying him ten thousand. pounds.
The Bank Monopoly.
""One objection to q bank Is that
it involves a qualified monopoly; and
the objection certainly has weight In
proportion to the degree and dura-
ton of the monopoly.
Perpetual mOnopolies Of every
sort are forbidden, not only by the
genius Of free governments, but by
the imperfectiOn Of human foresight.
(Among such m%0nopolies, cannot be
included tine grants In p%erpetuity OF
public lands to- individuals, the grants
being made according to rules of i'm.
Partially. for a valuable considera-
ton; aud all lands being held equal.
~ by that tenure from the public,
the vital principle of monopoly is
lost. The benefit is not confined to
one or a few, but is enjoyed by the
whole or q majority Of the cOmmun.
ity.
"The evil Of an excessive and dan.
gerous emulation of landed proper.
ty in the hands of individuals is best
preclnded by the prohibition of en-.
tails. by the suppression Of the rights
of p~rimogeniture, and by the liabil.
ity Of landed property to the pay.
1nent Of debts. In countries where
there is a. rapid increase of popula.
ton, as in the United States, these
provisions are evidently sufficient;
and IN all countries would sprobahly
be found so.) Where charters Of iii
copOratiop. even tie common ones to
towns for the sake Of local police,
contain qlaYsgs sssIgglyhfiT 4ggltracts,
obiectionS I'll teta6Rala ford. xSel ordi-
nary limitation Oh in~cdrpGoffafted5 So
cieties Is 9. proviso, THAT their laws
shall not violate .tteASks of the land.
But how, easily may Il happen that
redress for such violations may not
he pursued into effect? How much
injury may accrue during the pur-
sit Of redress? And above all, how
much local injustice and oppression
may be committed by laws and reg
ulatf0ns, not In strict construction
violating any law of the land.
Madlson's Suggestions.
Within the local limits, parties
generally exist founded on different
sorts of property, sometimes on d.
visions BY streets or little streams;
frequently on political and religious
differences. Attachments to rival, in