The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-21
CORPORATIONS AND MoNoPoL1Es

longer having occasion to tinker with the cur
rency, its quality or volume, now turns his
attention to tariff reform and monopolies. His
drastic dose known as the horizontal reduction
bill was thrown out of the Capitol window last
week-the patient would none of it. And
now he meets with others of his kind and full
inmates against what are sweepingly de-
nounced as "monopolies,' in which category
is placed nearly every large industrial interest
in the country that, in the nature of business,
requires large capital under the direction of
few men. The people of the United States
are too intelligent to accept these structures
without questioning their justice. The cor
porations whose wealth has become so vast
and whose influence is so great that
they are dangerous to the institutions
of the country are few in number.
To condemn all moneyed men and all great
corporations because of the misdeeds of few
were as foolish as to pronounce against all
men because a few are wicked
The uniting of capital into large blocks for
the purpose of furthering industrial or manu-
featuring enterprise is nearly always an excel
lent thing, in that ends may be accomplished
thereby that would 5e impossible without CO.
operation. While such corporations are not
monopolies in any legitimate sense of the
term, they fall under the ban of these fanati-
cal reform ers and are inconsiderately classed
as such A glance at the history Of some of
the large manufacturing corporations and their
work will show that many of them have been
for good and good only. 1t is within
the recollection of the younger class of voters
that when the manufacture of horse-shoes and
horseshoe nails by machinery began, there
was a howl against it all over the country.
| Ten thousand holse-shoeing blacksmiths
united in unqualifedly denouncing what they
were pleased to call monopoly in this branch
Of trade It was confidently predicted that
thousands of ho1se-shoers would be thrown
out of employment by the change, while the
monopoly" in control of the innovation
would fix prices to suit themselves. The out
come of the enterprise is now apparent to all.
The blacksmiths got manufactured shoes
cheaper than they could afford to
pound them out, can nail them on for
less than before the monopoly" came to their
aid, and at the same time realize more benefit.
There is, in fact, no monopoly about it. Amy
other number of capitalists can go into the
business if they wish, or the individual smith
can continue making them for himself, and
| thus be independent of dangerous corpora
tons. The union of capital in this instance rem
dered it possible to buy iron ore, or manufac-
tured as pig-iron, by the great quantity, there
by saving largely at the initial point of manu-
facture, while the solitary smith would have
no possible chance to save. 1t further rem
dered it possible to employ machinery, and by
manufacturing shoes by the million to save
largely in the facilitating processes employed.
What is true of this one among hundreds
of "monopolies' is largely true of others.
The monopoly that runs 100, 900 spindles and
looms by the hundred, is certain to manu-
facture and to sell cloth so far below the cost
that the spinning wheel and hand loom have
long been relocated to the garnet, treasured
only as souvenirs of an age of inconvenience
and scanty comforts The welding of mill
ions into one mass has built railways from
ocean to ocean; the journey that once re-
quired three months has been shortened to
it would cost the Western farmer more to
market his wheat than to grow it. The
enormous wealth represented by railway cor
poratons possesses great power in securing
what is wanted in the way of legislation, and
some legislators have been corrupted by it;
but the great mass of the people are still
honest The honest people can set aside dis
honest lawmakers, and these corporations are
fully within the control of the people through
their representatives. Monopolies, so called
do not WELD the influence they once did. The
people, from following leaders, have come
themselves to lead They are quick to
resent any infringement of their
rights, and corporations understand this
The danger from this source grows steadily
less. To raise howl against 'monopolies"
indiserirninately, and TO include in this cate
CORY all moneyed corporations, is simply to
write down ones self an ass. For corpora
tons that are disposed to stlangle what they
cannot control there is no public sympathy,
and it is proper that means should be taken to
restrain their rapacity. These reforms will
come about in due time; but it remains fact
well established that our great business con-
Germs for the most part ure of incalculable