, 1873-09-04
The Power of Monopoly.

the POWER OF Monopoly
In Gov. Booths great speech on the
powers now exercised by aggregated
wealth, after depicting its controlling
influence in the Government and its
tendency to Capitalization, he draws the
following life picture of its power over
rade in controlling all interchange OF
commodities, to the ruin of competition
and the monopoly of profit to the few
against all enterprise or power of re-
sistance on the part of the many:
60 10 form some idea of the magnifi-
cense of the stake, let US suppose that
the entire railroad system of the United
States is under the control of one com.
pany. Nor is this a violent presump-
ton. When we consider the colossal
strides of the New York Central and the
Pennsylvania Central towards this re-
splt-the latter now owning and opera
ting more than four thousand miles,
making thousand years leases and guar
anteeing dividends for thirty genera
tions-and reflect that the owners of
the trunk lines control their feeders as
absolutely as if they owned them, it will
not seem improbable that the whole
system may pass under one general
management Imagine this accomplish
cd, and that the principle that the law
cannot f1 rates and compel uniformity
is established--one company would then
have a monopoly of all inland transpor-
tation. A, 3. C, and D own the coal
mines which supply the city Of New
York. The mines of A are the most
valuable and the nearest to market. He
finds to his astonishnent that his rivals
can undersell him, and tie value of his
property is destroyed. He learns upon
inquiry that while he pays freight ac-
eording to the published tariff, B, G,
and d have special rates. He complains
and is told that he can haul his coal on
carts or pack it on mules. He remon.
strates, and is informed that he can
build his own railroad. Finally, as
choice between that and bankruptcy, he
sells or gives controlling interest in
his mine to the Directors of the Nam
moth Railroad Company"
The same process goes on with B, G,
and D, and reaches the same result -
Then the great Anthracite Company"
is formed, composed of the Directors of
the Mammoth Railroad Company" a
stock of coal is accum mulated in the city; :;
winter has come; the Director of the
Mammoth looks in the mirror and says
to the image he sees there: Anthracite,
we have got to advance your rates! and
the image reflects a smile and bow;
coal advances in the city, but there IS
no panic. Then some new regulation
is established at the mines which pro-
vokes strike. The rumor goes abroad,
"No more coalr' Then there are panic
and famine prices in the city-murder
at the mine the poor shiver and
freeze over the white ashes in their
CRATES. that Anthracite may swell Mann
moths profits. Some one ventures to
say this is wrong--this is monopoly
and the whole brood of parasites that
bask in the sunshine of Mammoth s
favor and eat the crumbs that fall from
his table, join in the cry, "He is a
Communist! demagogue! and don't
believe in the rights of property! We
are comfortable Mammoth gives US
gold for our fattery. After US the
deluge!'" The sentiment has been
heard before-it was on the lips Of the
courtiers on the eve of the French revo.
lution-and then a whisper brought
down the avalanche"
He then illustrates the same princ1.
pie applied to the article of wheat,
showing the same results. No industry
can be imagined that might not be con-
trolled in like manner. In conclu-
sion, Governor Booth says:
II have done. Standing in this
presence-loving order as I love life
conscious of my responsibilities, and
weighing my words-looking the future
earnestly in the face, l solemnly believe
that the choice of the American people
is between reform now and revolution
hereafter
From the foregoing vivid picture our
people may judge what woald be the
consequences if the Northern Pacific
Railroad Company had accepted the
concessions offered by the citizens of
Seattle and thereby obtained monopc-
1y OF. the railroad system upon Puget
Sound. 1t is better by far as it is. We
retain our Independence and our natu-
raj advantages which will eventually
command the necessary facilities of
transportation without reducing the
people to condition of serfdom to a
soulless monopoly with the accessories
of that twin birth OF ircestuous shame,
the Credit Mobilier and Land Ring"
--D
STEAM CoMMUNICATIoN.-G Salo.
mon, now in this city, informs US that
the arrangement for building the Olym.
pia railroad to Tenino, and putting on
. line of propellors between Olpmpia