Fort Worth weekly gazette. [volume] (Fort Worth, Tex.) 1882-1891, 1888-03-23
Trusts .Dd trade.

|, IL may DC truSt G5 mas USeu sOuEtlDes
Intimated, that no effective legislative c,
Judicial means exists for suppressiDg d.
po wer of trust combinations to der .,ro
free competition In trade. But, II 'nJs b,
so, the people cannot be too prCmps II
comforting upon the state the necesesr,
authority for restraining monster which
threatens to suck their nfeblJ0d. 81
suddenly has this gigantic form Of mon
opoly developed itself that the pub
lie has not yet recovered from
the surprise which was caused
by Its appearance. The first anG
most obvious step has been to inqulr,
into the nature Of the phenomenon, and
In this regard the Investigations Of tbs
New York Legislature and by Congress
have furnished valuable Information &c
the public. The veil Of mystery which
enshrouded the Trusts has been lifted
and IN spite of the efforts of their mAn,
ayers TO conceal the truth when on TIE
witness stand their dangerous character
has been exposed. Where Trusts have
been permitted TO grow the competition
cfindividuh enterprise has been stran-
gled, and monopoly has held the public al
its mercy. ~ r.s .-
The claim Is made by the sdEcca,es Of
this species Of monopoly that the trusts
are only natural development OF modern
industrial progress. II this be true, 30
much the greater Is the duty Of the state
to N ct the situation and 10 grapple with
the new conditions thst have EIisen. NJ
apollo gist Of monopoly pretends Ia these
days tnat the State should not interffr
for the protection of The people sgAinst
the entertainments OF trsnsp 1rtation
companies, insurance computes and like
ms buttons. How much the higher Is
the duty OF the government to intervene
.gainst o system Of monopoly which
threatens to overshado1 the entire field
Of rAde and prodactioni
IL the texstion of these trusts should
grove inadequate for protecting individ-
al enterprise against their tlysnnY, Ctier
remedies would not be wanting. The
trainers OF the new constitution of Penn
sylvAnis, in order to arrest the growth CT
cn old form OF monopoly, provided thGt
no transportation company SHOULD mine
coal or engage Ia airy other business not
covered by it's charter. It is true enough
that this provision has been daily violated
BY more than enc corporation, but the
power OF restraint exists 10 the orgsnic
law, ready to be called into exercise
whenever the legislative aud state Cflcisls
shall bSve been inspired with courage
snd fidelity to do their duty. l.
would be but new application
Of this principle Of the Pennsvlvauts con-
stitution TO provide that NJ Joint
stock company or Other aggregation OF
capital expressed in the form If trust
eertihcstes shall produce or Ge.l in any
# the necessaIies Of living. While there
lies in operations Of semi.pubiic char
seer requiring The segregation Ct vast
amounts Of capital, individual enterprise
Is fully capable OF coping with all the Or
einsry busiress affairs Of lie. II there
ever has been time when the Sccumu-
lation OF capital In joint stock companies
~'snecesserY for mining and selling cosI,
IT fotBg oil, making shoee, or printing
cottons, that period has gone bv. There
Is still less necessity for thcse trust mo-
nCpolies which have risen up TO usu p
control over all the commodities of trade.
So fer from being normal outgrow b
II modern industrial development, the
trusts are a counter revolution sge;nst
free competition. TIE whole ocean Ct
trade Is strewn with the wrecks Of Joint
stock companies, created to eDcroach
upon the domain OF Industrial enterprise
and capital in mekiug or in buying and
selling commodities. While untold mil
lions gathered tom the small earnings CT
credulous inv stors have been suck in the
or dishonest management of
these corporations, Individual energy has
been crushed by their unfair cempeti-
ion. But with the development of
he trusts individual enterprise |
must die; for no man would venture to |
,nssrk In business under the menace OF |
heir mysterious snd terrible power. No
'ne doubts the right OF The state to wit1- |
hold charters from joint stock companies |
o deal in the ordinary commodities of
rs6e. The question is one only Of ex-
anu policy. And there is 10
laes.ion of right or expediency In regard !
o the trusts. AS these monopolles are
hs enemies CT fair trade and conpeii-
ion, all the legitimate sathority of the |
Fate should be invoked 10 destroy their
dangerous power.ss NA