For instance, you have a railroad one hundred miles long, worth, we will say, $3,000,000—able to pay interest on that sum at the rate of six per cent. Now, we all know that the amount of stock issued has nothing to do with the value of the thing represented by the stock. If there was one share of stock representing this railroad, it would be worth three million dollars, whether it said on its face it was one dollar or one hundred dollars. If there were three million shares of stock issued on this property, they would be worth one dollar apiece, and, no matter whether it said on this stock that each share was a hundred dollars or a thousand dollars, the share would be worth one dollar—no more, no less. If any one wishes to find the value of stock, he should find the value of the thing represented by the stock. It is perfectly clear that, if a pie is worth one dollar, and you cut it into four pieces, each piece is worth twenty-five cents; and if you cut it in a thousand pieces, you do not increase the value of the pie.
If, then, you wish to find the value of a share of stock, find its relation to the thing represented by all the stock.
It can also be safely admitted that trusts have been formed. The reason is perfectly clear. Corporations are like individuals—they combine. Unfortunate corporations become socialistic, anarchistic, and cry out against the abuses of trusts. It is natural for corporations to defend themselves—natural for them to stop ruinous competition by a profitable pool; and when strong corporations combine, little corporations suffer. It is with corporations as with fishes—the large eat the little; and it may be that this will prove a public benefit in the end. When the large corporations have taken possession of the little ones, it may be that the Government will take possession of them—the Government being the largest corporation of them all.
It is to be regretted that all houses are not fireproof; but certainly no one imagines that the people of this country build houses for the purpose of having them burned, or that they erect hotels having in view the broiling of guests. Men act as they must; that is to say, according to wants and necessities. In a new country the buildings are cheaper than in an old one, money is scarcer, interest higher, and consequently people build cheaply and take the risks of fire. They do not do this on account of the Constitution of the United States, or the action of political parties, or the general idea that man is entitled to be free. In the hotels of Europe it may be that there is not as great danger of fire as of famine.
The destruction of game and of the singing birds is to be greatly regretted, not only in this country, but in all others. The people of America have been too busy felling forests, ploughing fields, and building houses, to cultivate, to the highest degree, the aesthetic side of their natures. Nature has been somewhat ruthless with us. The storms of winter breasted by the Western pioneer, the whirlwinds of summer, have tended, it may be, to harden somewhat the sensibilities; in consequence of which they have allowed their horses and cattle to bear the rigors of the same climate.
It is also true that the seal-fisheries are being destroyed, in the interest of the present, by those who care nothing for the future. All these things are to be deprecated, are to be spoken against; but we must not hint, provided we are lovers of the Republic, that such things are caused by free institutions.
General Hawkins asserts that "Christianity has neither preached nor practiced humanity towards animals," while at the same time "Sunday school children by hundreds of thousands are taught what a terrible thing it is to break the Sabbath;" that "museum trustees tremble with pious horror at the suggestion of opening the doors leading to the collections on that day," and that no protests have come "from lawmakers or the Christian clergy." Few people will suspect me of going out of my way to take care of Christianity or of the clergy. At the same time, I can afford to state the truth. While there is not much in the Bible with regard to practicing humanity toward animals, there is at least this: "The merciful man is merciful to his beast." Of course, I am not alluding now to the example set by Jehovah when he destroyed the cattle of the Egyptians with hailstones and diseases on account of the sins of their owners.
In regard to the treatment of animals Christians have been much like other people.
So, hundreds of lawmakers have not only protested against cruelty to animals, but enough have protested against it to secure the enactment of laws making cruelty toward animals a crime. Henry Bergh, who did as much good as any man who has lived in the nineteenth century, was seconded in his efforts by many of the Christian clergy not only, but by hundreds and thousands of professing Christians—probably millions. Let us be honest.
It is true that the clergy are apt to lose the distinction between offences and virtues, to regard the little as the important—that is to say, to invert the pyramid.