Shall we try to get the grip of monopoly away from our lives, or shall we not? Shall we withhold our hand and say monopoly is inevitable, that all that we can do is to regulate it? Shall we say that all that we can do is to put government in competition with monopoly and try its strength against it? Shall we admit that the creature of our own hands is stronger than we are? We have been dreading all along the time when the combined power of high finance would be greater than the power of the government. Have we come to a time when the President of the United States or any man who wishes to be the President must doff his cap in the presence of this high finance, and say, "You are our inevitable master, but we will see how we can make the best of it?"
We are at the parting of the ways. We have, not one or two or three, but many, established and formidable monopolies in the United States. We have, not one or two, but many, fields of endeavor into which it is difficult, if not impossible, for the independent man to enter. We have restricted credit, we have restricted opportunity, we have controlled development, and we have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world—no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men.
If the government is to tell big business men how to run their business, then don't you see that big business men have to get closer to the government even than they are now? Don't you see that they must capture the government, in order not to be restrained too much by it? Must capture the government? They have already captured it. Are you going to invite those inside to stay inside? They don't have to get there. They are there. Are you going to own your own premises, or are you not? That is your choice. Are you going to say: "You didn't get into the house the right way, but you are in there, God bless you; we will stand out here in the cold and you can hand us out something once in a while?"
At the least, under the plan I am opposing, there will be an avowed partnership between the government and the trusts. I take it that the firm will be ostensibly controlled by the senior member. For I take it that the government of the United States is at least the senior member, though the younger member has all along been running the business. But when all the momentum, when all the energy, when a great deal of the genius, as so often happens in partnerships the world over, is with the junior partner, I don't think that the superintendence of the senior partner is going to amount to very much. And I don't believe that benevolence can be read into the hearts of the trusts by the superintendence and suggestions of the federal government; because the government has never within my recollection had its suggestions accepted by the trusts. On the contrary, the suggestions of the trusts have been accepted by the government.
There is no hope to be seen for the people of the United States until the partnership is dissolved. And the business of the party now entrusted with power is going to be to dissolve it.
Those who supported the third party supported, I believe, a program perfectly agreeable to the monopolies. How those who have been fighting monopoly through all their career can reconcile the continuation of the battle under the banner of the very men they have been fighting, I cannot imagine. I challenge the program in its fundamentals as not a progressive program at all. Why did Mr. Gary suggest this very method when he was at the head of the Steel Trust? Why is this very method commended here, there, and everywhere by the men who are interested in the maintenance of the present economic system of the United States? Why do the men who do not wish to be disturbed urge the adoption of this program? The rest of the program is very handsome; there is beating in it a great pulse of sympathy for the human race. But I do not want the sympathy of the trusts for the human race. I do not want their condescending assistance.
And I warn every progressive Republican that by lending his assistance to this program he is playing false to the very cause in which he had enlisted. That cause was a battle against monopoly, against control, against the concentration of power in our economic development, against all those things that interfere with absolutely free enterprise. I believe that some day these gentlemen will wake up and realize that they have misplaced their trust, not in an individual, it may be, but in a program which is fatal to the things we hold dearest.
If there is any meaning in the things I have been urging, it is this: that the incubus that lies upon this country is the present monopolistic organization of our industrial life. That is the thing which certain Republicans became "insurgents" in order to throw off. And yet some of them allowed themselves to be so misled as to go into the camp of the third party in order to remove what the third party proposed to legalize. My point is that this is a method conceived from the point of view of the very men who are to be controlled, and that this is just the wrong point of view from which to conceive it.
I said not long ago that Mr. Roosevelt was promoting a plan for the control of monopoly which was supported by the United States Steel Corporation. Mr. Roosevelt denied that he was being supported by more than one member of that corporation. He was thinking of money. I was thinking of ideas. I did not say that he was getting money from these gentlemen; it was a matter of indifference to me where he got his money; but it was a matter of a great deal of difference to me where he got his ideas. He got his idea with regard to the regulation of monopoly from the gentlemen who form the United States Steel Corporation. I am perfectly ready to admit that the gentlemen who control the United States Steel Corporation have a perfect right to entertain their own ideas about this and to urge them upon the people of the United States; but I want to say that their ideas are not my ideas; and I am perfectly certain that they would not promote any idea which interfered with their monopoly. Inasmuch, therefore, as I hope and intend to interfere with monopoly just as much as possible, I cannot subscribe to arrangements by which they know that it will not be disturbed.