194 BOARD OF AGRICULTURE. [Pub. Doc. 



mentioned has been perpetrated again and again, and all 

 taken together constitute a serious menace to the welfare of 

 all classes of the people, to the safety of the State and to the 

 salvation of society. The extent of the evils and the danger 

 of the crisis have not been exaggerated ; both demand the 

 serious consideration and determined action not only of the 

 farmers but also of all good citizens. 



IV. What, then, must be done, and done speedily and 

 thoroughly, to save for mankind the advantages of the great 

 monopolistic corporation, and at the same time save society 

 from the terrible evils which the tyranny of the trust may 

 inflict? 



1. The attempt to destroy the trust is both futile and 

 foolish. It is too late now to destroy the trust, — it can- 

 not be done. If it could be done, the result would be to 

 deprive society of the most efficient instrument for the pro- 

 duction of wealth that the world has yet produced, — a con- 

 summation that would be a calamity equal surely to the 

 evil the trust, if left alone, would inflict. 



The one thing which can be done and must be done is 

 that the people shall demand, and enforce the demand, that 

 the trust shall be wisely administered and properly con- 

 trolled for the promotion of the best interests of all parties 

 concerned. 



The parties concerned are the managers of the trust, the 

 stockholders, the employees, the consumers, the community 

 and the State. Each of these parties has rights and has 

 duties, the one commensurate with the other. Much of our 

 trouble with trusts has arisen out of the neglect of certain 

 fundamental truths. Let us here emphasize a few of these. 

 First, we must never forget that the corporation, great or 

 small, is the creature of the State. The State gives the cor- 

 poration its being and preserves its existence ; without the 

 constant support and protection of the State the corporation 

 could not do business, could not exist. All natural monopo- 

 lies, such as are enjoyed by railroad, telephone, telegraph, 

 gas, electric light and power companies, involve the right of 

 eminent domain, the power to seize private property for pub- 

 lic uses ; which power inheres alone in the State, and by the 

 State is granted to corporations on the condition that, and 



