The Only Safe Trust: Chauncy M. Depew’s Warning to Seattle Investors
Railroad magnate and former Senator Chauncy Depew tells a Seattle audience that the government must regulate trusts, predicting that 'rotten' companies will fail while others are placed on a proper basis.
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"The only safe trust is Providencia," says Chauncy M. Depew.
"My trust is in Providence... That's the only trust I am interested in," he declared to reporters in Seattle.
When asked about other trusts, Depew offered a stark assessment of the corporate landscape: "That's all right; that's the safest and the lightest shall be turned on the kind you refer to. I am of the opinion that this matter will regulate itself. The rotten ones will fail; the half-rotten and half-good will be remediated and placed on a proper basis. The government should appoint a commission to supervise the trusts."
Depew did not consider the Van Sweringen line trust.
Asked about the Philippines, he spoke of American policy: "I think the American Commission over there should call the native leaders together and tell them just what they may use of the United States. Amnesty and complete freedom so far as possible, should be given them. Courts should be turned over to them just as soon as they are able to conduct them."
The remarks were made during a visit to Seattle, where Depew addressed local concerns about corporate power and infrastructure.
Chauncy M. Depew’s 1902 warning that 'rotten' trusts would fail and require government supervision echoes the modern debate over antitrust enforcement in tech and finance. His call for a specific commission to oversee corporate behavior mirrors today's discussions about regulatory bodies needing specialized expertise to manage complex monopolies.
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