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I also have no question that it will continue to be true just as long as the country confines itself to acting as the Baltimore platform demands that we act. This demand is, in effect, for the States and National Government to make the futile attempt to exercise forty-nine sovereign and conflicting authorities in the effort jointly to suppress the trusts, while at the same time the National Government refuses to exercise rroper control over them. There will be no diminution in the cost of trust-made articles so long as our Government attempts the impossible task of restoring the flint-lock conditions of business sixty years ago by trusting only to a succession of lawsuits under the Anti-Trust Law—a method which it has been definitely shown usually results to the benefit of any big business concern which really ought to be dissolved, but which cause disturbance and distress to multitudes of smaller concerns. Trusts which increase production—unless they do it wastefully, as in certain forms of mining and lumbering—cannot permanently increase the cost of living; it is the trusts which limit production, or which without limiting production, take advantage of the lack of governmental control, and eliminate competition by combining to control the market, that cause an increase in the cost of living. There should be established at once, as I have elsewhere said, under the National Government an inter-State industrial commission, which should exercise full supervision over the big industrial concerns doing an inter-State business into which an element of monopoly enters. Where these concerns deal with the necessaries of life the commission should not shrink, if the necessity is proved, of going to the extent of exercising regulatory control over the conditions that create or determine monopoly prices.
By such action we shall certainly be able to remove the element of contributory causation on the part of the trusts and the tariff towards the high cost of living. There will remain many other elements. Wrong taxation, including failure to tax swollen inheritances and unused land and other natural resources held for speculative purposes, is one of these elements. The modern tendency to leave the country for the town is another element; and exhaustion of the soil and poor methods of raising and marketing the products of the soil make up another element, as I have already shown. Another element is that of waste and extravagance, individual and National. No laws which the wit of man can devise will avail to make the community prosperous if the average individual lives in such fashion that his expenditure always exceeds his income.
National extravagance—that is, the expenditure of money which is not warranted—we can ourselves control, and to some degree we can help in doing away with the extravagance caused by international rivalries.
These are all definite methods by which something can be accomplished in the direction of decreasing the cost of living. All taken together will not fully meet the situation. There are in it elements which as yet we do not understand. We can be certain that the remedy proposed by the Democratic party is a quack remedy. It is just as emphatically a quack remedy as was the quack remedy, the panacea, the
