he platform upon which he was
elected was filled with praise of the
lepublican party's record rather than
jvith promises of reform, even the
?nthusiastic support given him by
;he Democrats has enabled the cham- >
fions of the trusts to taunt him with !
following Democratic leadership. He
lias probably gone as far as he could I
without incurring the hostility of lead
ers of his own party. The trouble
Is that the Republican party is not
[in a position to apply effective and
[thorough going reforms because it
has b'Jilt up. through special legis
lation, the very abuses which need to
be eradicated.
Before any intelligent action can
be taken against the trusts we must
have a definition of a trust Because
no corporation has an absolute and
complete monopoly of any important
products, the apologists for the trusts
seem to insist that here are in real
ity no trusts. Others insist that it is
impossible to legislate against such
I trusts as may exist without doing
injury to legitimate business. For
the purpose of this, discussion it is
sufficient to. draw the line at a point
where competition ceases to be effect
ive and to designate as a trust any
corporation which controls so much
of the product of any article that it
can fix the terms and conditions of
a sale.
What a Monopoly Is.
Legislation which prevents a mo
nopoly not only does not injure legiti
mate business but actually protects
legitimate business from injury. We
are indebted to the ypunger Rocke
feller for an illustration which makes
this distinction clear, v. In defending
the trust system he is quoth as say
ing that as the American Beauty rose
cannot be brought to perfection with
out pinching off ninety-nine buds so
that the one hundredth- bud can re
ceive the fulf strength of the bush,
so great industrial organizations are
Impossible without the elimination of
the smaller ones. It is a cruel illus
tration but it presents a perfectly ac
curate description of trust methods.
The Democratic party champions the
cause of the 99 enterprises which are
menaced; they must not be sacrificed
that one great combination may.
i flourish. - • • - -
There must be no mistaking of the
issue and no confusing of the line of
battle. The trust as an institution
will have few open defenders. The
policy of the trust magnates will be
to insist upon "reasonable legisla
tion" and then they will rely upon
their power to* corrupt legislatures
and intimidate executives to prevent
the application of any remedies which
will interfere with the trusts. Our
motto must be "a private monopoly
is indefensible and intolerable," and
our plan of attack must contemplate
the total and complete" overthrow of
the monopoly principle in industry.
We need 4ot quarrel over remedies.
We must show ourselves willing to
support any remedy which promises
substantial advantage to the people
in their warfare against monopoly.
Something i$ to be»«?xpected from thi
enforcement of the criminal clause of
the Sherman anti-trust law, brut this
law must be enforced, not against a
few trusts as at present, but against
all trusts and the aim must be to
imprison' thfe guilty, not merely 10
recover a fine. If the criminal clause
is not going to be enforced it ouglil
to be repealed. If imprisonment is
too severe a punishment for the emi
nently respectable gentlemen who
rob eighty millions of people of huu
dreds of millions of dollars annually,
the language of the statute ought to
be changed, for nothing is more cal
culated to breed anarchy than the
failure to the law againr.t
rich criminals while it is rigidly en
forced against petty offenders.
Need New Legislation.
But it is not sufficient to enforce
existing laws. If ten corporations
conspiring together in restraint of
trade are threatened with punish
ment, all they have to do now is to
dissolve their separate corporations
and turn their property over to a
new corporation. The new corpora
tion can proceed to do the same
thing that the separate corporations
attempted and yet not violate the
law. We need, therefore, new legis
lation and the Republican party not
only fails to enact such legislation
but fails even to promise it. The
Democratic party must be prepared
to propose new and efficient legisla
tion.
Recent investigations have brought
to light the fact that nearly all
crookedness revealed in the manage-'
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ment of our large corporations has
been due to the duplications of direc
torates. A group of men organized,
or obtained control of several cor
porations doing business with each
other and then proceeded to swindle
the stockholders of the various cor
porations for which they acted.
Many of the trusts control prices
by the same methods, the same group
of men secure control of several
competing corporations and the man
agement is thus consolidated. It is
worth while to consider whether a
blow may not be struck at the trusts
by a law making it illegal for the
same person to act as director or
officer of two corporations which
deal with each other or are engaged
in the same general business.
A still more far reaching remedy
was proposed by the Democratic
platform of 1890 namely the requiring
of corporations to take out a Fed
eral license before engaging in inter-
State commerce. This remedy U
simple, easily applied and compre
hensive. If corporations were re
quired to take out a Federal li
cense, the Federal government could
then issue a license upon terms ;md
conditions which would pro* c: the
public. A corporation differs from a
human being in that it ha,s no natural
rights, and as all of its rights are
derived from thi statute ii can le
limited or restrained according as
the public welfare may re».'i»» The
control which Congress hT3 «.ver"i:»
ter-State commerce .s compittv No
party can long be credited with sin
cerity if it condemns the trusts with
words only and then permits the
trusts to employ all the instrumental
ities of inter-State commerce in the
carrying out of their nefarious plans.
It is far easier to prevent a mo
nopoly than to watch it and punish
it, "and this prevention can be ac
complshed in a practical way by re
fusing a license to any corporation
wh\ch controls more than a certain
proportion of the total product—this
proportion to be arbitrarily fixed at a
point which will give free operation
to competition.
The Tariff Question.
The tariff question is very closely
allied to the trust question and the
reduction of the tariff furnishes an
easy means of limiting the extortion
which the trusts can practice.
While absolute iree traue would
not necessarily make a trust impos
sible, still it is probable that few
manufacturing establishments would
dare to enter into a trust if the
President were empowered to put
upon the free list articles competing
with those controlled by a trust. I
cannot permit this opportunity to
pass without expressing the opinion
that the principles embodied in the
protective tariff have been the fruit
ful source of a great deal of political
corruption as well as the support of
many of our most iniquitous trusts.
It is difficult to condemn the manu
facturers for uniting to take advantage
of a high tariff schedule when the
schedule is framed on the theory that
the idustries need all • the pro
tection given and it is not likely that
the beneficiaries of these schedules
will consent to their reduction so long
as the public waits for the tariff to
be reformed by its friends.
But one of the worst features of the
tariff, levied not for revenue but for
the avowed purpose of protection, is
that it fosters the idea that men
should use their votes to advance their
own financial interests. For a genera
tion the "fat" has been fried out of
the manufacturers by the Republican
campaign committee and then the man
ufacturers have been reimbursed by
legislation. With the public conscience
educated to believe that this open pur
chase of legislation was entirely prop
er, no wonder that insurance compan
ies have used the money of their pol
icyholders to carry elections —no won
der that trusts have hastened to pur
chase immunity from punisnment with
liberal donations. How can we draw
a moral line between the senator and
the Congressman elected by the trusts
to prevent hostile legislation and the
senator and Congressman kept in Con
gress by the manufactories to secure
friendly legislation? The party which
justifies the one form of bribery can
not be relied upon to condemn the oth
er.
There never was a time when tariff
reform could be more easily entered
upcn, for the manufacturers by sell
ing abroad cheaper than at home, as
many of them do. have not only shown
their ingratitude toward those who
built the'tariff wall for them, but they
have demonstrated their ability to sell
in competion with the world.
The Railroad Question.
The railroad question is also inter
woven with the trust question. Near
ly all the private monopolies have re
ceived rebates at the hands of the rail
roads would go far toward the crip
pling of the trusts and I rejoice that
the President has had the courage to
press this question upon Congress.
While the law as it was finally distort
ed by the Senate, is not all that could
be wished, it deserves a fair trial.
Rate regulation was absolutely nec
essary and it furnishes some relief
from the unbearable conditions which
previously existed; but we must not
forget that the vesting of this enor
mous power in the hands of a commis
sion appointed by the President intro
duces a new danger. If an appointive
board has the power to fix rates, and
crease or decrease by hundreds of mil
lions of the dollars the annual reve
nues of the railroads, will not the rail
roads feel that they have large pecuni
ary interest in the election of a presi
dent friendly to the-tailroad? Experi
ence has demonstrated that .munici
pal corruption is largely traceable to
the fact that franchise corporations
desire to control the city council and
thus increase their dividends. If the
railroad managers adopt the same pol
icy the sentiment in favor of 'the own
ership of the railroads by the govern
ment is likely to increase throughout
the country as the sentiment in favor
of municipal ownership has increased
in the cities. I have already reached
the conclusion that railroads partake
so much of the nature of a monopoly
that thev must ultimately become pub
lic property and be managed by public
officials in the interest of the whole
community in accordance with the
well defined thoory that public owen
ership is necessary where competition
is impossible. Ido not know that the
cotmtry is ready for this change. I do
not know that majority of my own
party favor it, but I believe that an
increasing number of the members of
all parties see in public ownership the
sure remedy for discriminations be
tween persons and places and for the
extortionate for the carrying of
freight and passengers.
Government Ownership.
Believing, however, that the opera
tion of all railroads by the Federal gov
ernment would result in a centraliza
tion which would all but obliterate
State lines, I prefer to see only the
trunk lines operated by the Federal
government and the local lines by the
several State government
Some have opposed this dual owner
ship as impracticable, but investiga
ean by the exercise of that power in
tion in Europe has convinced me that
it is entirely practicable. Nearly all
the railroads of Germany are owned
by the several States, the Empire not
even owning the trunk lines, and yet
the inter-State'traffic is in no wise ob
structed. The ownership and opera
tions of the local lines by the several
State governments is not only feasible
but it suits itself 'to the conditions ex
isting in the various States. In these
States where people are ripe for a
change, the lines can be purchas
ed or new lines built at once, while
private ownership can continue in
these States in which the people still
prefer private ownership.
As to the right of the governments,
Federal or State, to own and operate
railroads there can be no doubt. If
we can deepen the water in the lakes
and build connecting canals in order
to cheapen railroad transportation dur
ing half of the year, we can build a
railroad and cheapen rates the whole
year, if we can spend several hundred
millions on the Panama canal to lower
trans-continental rates, we can build
a railroad from New York to San
Fransico to lower both trans-continen
tal and local rates. The United States
mail is increasing so rapidly that we
shall soon be able to pay the interest
on the cost of trunk lines out of the
money which we now pay to railroads
for carrying through mails.
If any of you question the propriety
of my mentioning this subject, I beg
to remind you that the President could
not have secured the passage of the
rate bill had he not appealed to the
fear of the more radical remedy of
government ownership, and nothing
will so restrain the railroad magnates
from attempting to capture the inter-
State commerce commission as the
same fear. The high handed manner
in which they have violated law and
ignored authority, together with the
corruption discovered in high places,
has done more to create sentiment in
favor of public ownership than all the
speeehes and arguments of the oppo
nents of private ownership.
More About Trusts.
Just a word more in regard to the
trusts. Some defend them on the
ground that, they are an economic
development, anjd'that they cannot be
prevented without injury to our
industrial system. This may be an
swered in two ways. First, trusts are
a political development rather than an
economic one; and second, the trust
system cannot be permitted to con
tinue even though it did result in a
net economic gain. It. is political be
cause it rests upon the corporation,
and the corporation rests upon a stat
utory foundation. The trust, instead
of being a natural development, is a
form of leganilzed larceny and can ex
ist only so long as the law permits it
to exist. That there is an economic
advantage in production on a large
scale may be admitted, but there is
a point beyond which the economic ad
vantage of large production ceases.
The moment any industry approaches
the position of monopoly it begins to
lose its economic efficiency, for a mo
nopoly discourages invention, invites
deterioration in quality, and destroys
a most potent factor in production,
viz.: individual ambition.
But the political objections to a
trust overcome any economic advan
tage which it can possibly have. No
ecomonic advantage can justify an in
dustrial despotism or compensate a
nation, for the loss of independence
among its producers. Political liberty
could not long endure under an in
dustrial system which permitted a
few-powerful magnates to control the
means of livelihood of the rest of the
people.
Landlordism, the curse of Europe, is
an innocent institution in comparison
with the trust, when the trust is car
ried to it 3 logical conclusion. The
man who argues that there is an eco
nomic advantage in private monopoly
is aiding socialism. The socialist., as
serting the economic superiority of the
monopoly, insists that it benefits shall
accrue to the whole people, and his
conclusion cannot be denied if the
superiority of monopoly is admitted.
The Democratic party, if I understand
its position, denies the economic as
well as political advantage of private
monopoly and promises to oppose it
wherever it manifests itself. It offers
as an alternative, competition where
competition is possible and public mo
nopoly wherever circumstances are
such as to prevent competition.
Socialistic Tneory.
Socialism presents a consistent the
ory, but a theory, which in my judg
ment, does not take human nature into
account. Its strength is in its attack
upon evils, the existence of which is
confessed. Its weakness is that it
would substitute a new disease —if not
a worse one —for the disease from
which we suffer. The socialist is hon
est in his beliefs that he has found
a remedy for human ill. and he must
be answered with argument, not with
abuse. The best way to oppose social
ism is to remedy the abuses which
have grown up under individualism
but which are not a necessary part of
individualism, and the sooner the rem
edy is applied the better. As I was
leaving home, I set forth my reasons
The Democratic party offers a solution
that the government should own and
operate all the means of production
and transportation; my observations
during the past- year have strengthen
ed my convictions on that subject. Be
cause I am anxious to preserve indi
vidualism, I &in earnest in my desire
to see the trusts exterminated, root
and branch, that the door of opportu
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On another occasion I shall call at
tention to the rapidly growing expendi
tures of the Federal government, but
at this time I desire to center your
thoughts upon the overshadowing evil
of the day—the truht—with the plutoc
racy tendencies that result therefrom.
Its demands are immediate, and the
people are prepared to administer he
roic treatment.
The Democrats pffer a solution
which is both reasonable and aduquate,
a solution in which time honored prin
ciples are applied to new conditions.
Democratic position.
The Democratic party Is not the
enemy of property or of property
rights; it is, on the contrary, the best
defender of both becav.se it defend?
human rights, and human rights arc
the only foundation upon which proper
ty and property rights can rest secure
ly. The Democratic party does not men
ace a single dollar legitimately a?cu
mulated: on the contrary, it insists up
on the protection of rich and poor
alike in the enjoyment of that' which
they have hontestly earned. The Demo
cratic parey does not!iscourage thrift,
but, on the other hand. ?rahddtaoinnn
but, on the contrary, stimulates each
individual to the highest endeavor by
assuring him that he wMI not be de
prived of the fruits of his toil. If we
can but repeal the laws which enable
men to reap where they have not sown
—laws which enable them to garner in
to their overflowing barns the harvests
that belong to others —no one will be
able to accumulate enough to make his
fortune dangerous to the country. Spec
ial privilages and the use of the taxing
power for private gain—these are the
twin pillars upon which plutocracy
restts. To take away these supports
and to elevate the beneficiaries of
special legilation to the path of honest
effort ought to be the purpose of our
party.
And who can suffer injury by just
taxation, impartial laws and the appli
cation of the Jeffersonian doctrine of
equal rights to all and" special privil
eges to none? Only those whose ac
cumulations are stained with dishon
esty and whose immoral methods have
( given them a distorted view of busi
ness, society and government. Accu
mulating by conscious fraud more mon
ey. than they can profitably use upon
themselves, wisely distributed or safe
ly leave to their "children* these de
nounces as public enemies all who
question their, methods or throw light
upon their crimes.
What Is Plutocracy.
Piutocracy is abhorrent to a RepuD
lie; it is more despotism than anarchy,
more heartless than aristocracy, more
selfish than bureaucracy. It preys up
on the nation in time of peace and con
spires against it in the hour of its
calamity. Conscienceless, compassion
less and devoid of wisdom, it enervates
its votaries wihle it impoverishes its
victims. It is already sapping the
strength of the nation, vulgarizing so
cial life and making a mockery of mor
als. The time is ripe for the overflow,
peal to the awakened conscience of the
nation in the name of the counting
room which it has defiled, in the name
of business honor, which it has sullied,
In the name of the people whom it has
opposed, in *the name of the homes
which it has despoiled, and in' the
name of religion upon which it has
placed the stigma of hypocricy.
And, if I may be permitted to sug
gest a battle hymn, I propose a stanza
l»ut slightly changed, from one of the
strongest of the poems of Scotland's
Democratic bard:
"Columbia! My dbar, my native soil! i
"For whom my warmest wish tq Heav
en is sent!
Long may thy hardy sons of rustic
toil.
Be blest with health and peace and
\ sweet content.
And O. may heaven their simple lives
prevent!
From Luxury's contagion, weak and
vile;
Then, tho' unearned wealth to wick
edness be lent,
A virtuous populace may rise and
stand,
A wall of fire around their mach loved
land."
Baltimore, Sept. 1. —Three hundred
ditchers struck for nine hour day
without a reduction in their nay of
11 dollars week. Tliey have been
working ten hours.
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SUCCESSOR lO™
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and Meal. Country Produe®.
HICKORY, N. C.
W. 8. RAMSAY
DENTIST.
Office: Second-story of Postoffice.
LAD.ES
Lcqmpoun p r H
Safe, Quick, Reliable Regulator
1 Superior t»other remedies sold at blab' pna»;
Cuo. «m».janteed. Successfully by over
200,000 Women. Prlcr, «5 drn£
Kists or by mall. Testimonials * booklet free.
Or- La Franco, IP»»
B HAIR "BALSAM
Clesiwet and beautifies th« hair '
Promote* a laiurUnt growth.
Never Falls to Beatore Gray
Hair to iU Youthfu Color.