Smyrna times., 1882-01-11

The CENTRALIZATION OF CAPITAL
Ope Of the problems of the day and one
which causes thinking men much uneasi- |
ness, Is the strong tendency toward con-
centration of capital With centralization of
power in the hands Of few great monOp-
olists. Whilst we do not think socialism
even of the highest school can ever gain
q strong foothold in this country, because
It is opposed to our fundamental business
principal of individualism and competi-
tion, which are so dear TO every Ameri
can; yet eminent socialists, as NJ. Louis
Blame, Fourier, and others tell US that
this very competition produces monopoly,
the thing We wish to get rid Of Such
being the case We are presented at the
start with the query, can We crush out
moHOpOlisn without encouraging social
ism? But on the other hand we take
John Stuart Mill, as authority for say ng,
that the vilest competitor neither does
nor can he get rid of all his rivals and
establish himself in the exclusive posses
sion of the market; and that it is not q
fact that any important branch of industry
or commerce formally divided among
many has become or shows any tendency
to become the monopoly of few, except
mark the excepti0n-in the case of rail-
ways. Where, he says, the only competi-
ton possible is between two or three great
companies, the operation being on too
l. l..
dividual capitalists and, further, that
this is one of the reasons why businesses
which require to be carried on by great
3oint-stock enterprises cannot be trusted
TO competition, but where not reserved by
thc state to itself, ought to be carried on
under conditions prescribed and from
time to time varied by the state for the
purpose of insuring to the public cheaper
supply of its wants than would be afforded
by private interests in the absence of
sufficient competition. Assuming this to
b" correct, we have still as 4 standing
reminder, our magnificent system of rail-
roads which cross and interlace the coun-
try and zach other from Atlantic to Pacific,
which is controlled, if not owned out
right, by few individuals with almost
unlimited power. Assuming that our
Legislatures are honest and incorruptible.
and that they represent the people and
not the r. r. Cos, they still cannot prop
erly control a system that is National in
its character, and as yet have not even
used the power which they have to the
extent demanded by the circumstances OF
the case. 1t is q fact which no one will
deny that it is diH..4' matter to pass
legislation inlmieaI ~ lnOse great corpora
tioHs and that their power is steadily in
creasing, therefore it is subject which
requires prompt and profound considera.
uon. Notwithstanding there seems to be
difference of opinion among able jurists
as TO whether the General Government
has the right to take the control of these
corporations we shall assume without now
giving our reasons that it has, and thai
narrows the question down TO tho advisa
bility of doing 80.
The rights and privileges which a com
pany enjoys are charged with comitativ,
Puol uutleS. Inc power gwen 10 rail
road company to condemn private prop
erty to corporate use charges the raiiF0as
with public duties and it should be TIN
servant and not the master of the public
and that suck is not the fact is what cause
grave apprehensions. Weknow as matte
Of fact that our legislatures are constant,
prostituted to do the bidding of thes
monopOlies, that they use their power t
corrupt men politically that their pur
pose may be revealed, and it is time al
earnest struggle was made to confine then
within proper limits, The idea of tn
National Government taking control q
the management of our system of rail
roads is not to be thought of under Oh
present spoils system from the fact tka
1t would be such an engine in the hands Q
dominent party to perpetuate itself in
definitely.
= 1t seems to us that Congress should La
down some general rule for the eontrol {
all roads or that competing lines skoui
not consolidate, a maximum rate per mii
tor freight and passengers; and that th
state be allowed to add such restriction
upon the hnes within their borders q
they should see proper, such Festrictio
not conflicting with those sssed by Cor
.gress. sag