Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1870-02-08
MONOPOLY.


The cry of Monopoly is being sounded
against the proposition to consolidate GER
tain railroads in this State. Possibly it
may alarm timid and inexperienced per-
sons, as tales of ghosts and goblins fright
en- children. 1t has been used successful
ly in the pastt intimidate Legislators, and
to that as much as to anything is due the
fact that our State is backward in enter
prise, and our resources unimproved.
Had it not been for the cry of monopoly
and special privilege, our water power
would have been turned to use long ago,
and we should have led New England in
manufacturing But when capitalists
came to us and offered to invest their
money upon our streams, provided they
could have certain privileges allowed
them which they deemed essential to their
success, the cry of monopoly and special
privilege was raised against them, and they
were driven from the State, while Massa-
chusetts, with more liberality and far-see-
ing wisdom, granted them what they
asked, and gathered the harvest which
Maine might have plucked. In this year
1870, admonished by the prosperity of
States which have fostered manufactures,
and encouraged enterprise, by the loss of
our young men and women removing to
better fields of labor, by the general want
of capital and remunerative employment,
as well as home markets for the farmers,
we are meekly advertising to the world
the great advantages of our water power,
and offering to capital better conditions
than it asked when our Legislature scout
ed its propositions and forced it to 60 else
where. We have been compelled by
stress of circumstances to get over our
fear of monopoly or some other such hob
goblin in this case, and to publish to the
world what foolish people we were in
times past, and how happy we should be
to be able to correct our grievous mistake,
even at this late day. The distrust of COR
porate power. monopoly, special privi-
lege, is felt through its effects in every
township of the State. How much it has
cost us cannot be estimated except as we
compare our condition with that of the
States where different policy prevailed.
With far better natural capacities than
Massachusetts for manufacturing, we are
an age behind her. No class of people
have suffered more from our folly than
the farmers. If they cannot keep their
sons and daughters ut home to take care Of
them in their old age, let them remember
that the dread of monopoly has impover-
shed the State, and left little inducement
for their children to remain.
Now when it is asked that the railroads
of the State may be allowed, if they choose,
to consolidate their corporations, this old
cutlery about the danger of monopoly and
great moneyed corporations, is industri-
ously rung.
What we have suffered already from
that ought to be sufficient answer to it.
We have listened to it to our shame and dis
grace as well as pecuniary loss. 1t is said
that the consolidation will destroy compe-
tition and produce a railroad monopoly.
The history of railroads shows that COM
petition between parallel lines of railroads
never has existed for any length of time,
giving way to combinations which render
ed competition impossible. Then it is
specially provided in the bill for consolida-