The Washington critic., 1888-01-16
WASHINGTON, JAN. 10, 1888.
TRrsTs.

The tendency of the times is to the
organization Of Trusts. II Is not
wholesome or encouraging symptom
for the general health of the body
polite.
Monopolics are bad enough in the
frequent manner of their administra-
iion, as the American people well
know, but human nature is monopo-
listic, and in the eager struggle for
wealth and the power that wealth
carries with it, mankind in general
run in monopolistic directions.
The laborcr who growls to-day ut
the dcspotism of capital may to-mor.
row become n boss and set up little
autocracy for himself
In due course Of time the boss may
become capitalist, and several capi-
ialists then join hands and be-
come corporation with lobbies to
serve them in the Legislature or on
the floors of Congress.
Yet corporations are legitimate and
necessary. Under wise management
they prove useful and productive.
They contribute largely to the natural
wealth and the commercial develop
mcnt of the country,
1t is their misusod power only that
is to be feared.
Trusts are consolidation of Monop-
olies, and in too many instances the
synonym of power thus misused.
The New York HeraM of yesterday
has a strong and timely article OH this
subject. 1t says:
During the last ten years, more or less,
large sums of money have been pooled for
The purpose Of controlling given product
and arbitrarily fixing its market price. This
combination, or trust, or what not, has no
commercial significance or value unless 10
.-can break down all competition. Its first
step therefore, Is TO unite dozen OF the
largest dealers, whose aggregate capital is
sufficient for the purpose, and to crush out
the hundreds Of smaller dealers by driving
them out of business or into bankruptcy
By these means they become masters of the
situation
When this has been done, let us say with
a
of other industries two consequences make
their appearance. First, the market has
been captured, prices can be arranged TO
suit the syndicate, the whole community Is
laid under tribute TO huge and inexorable
monopoly, and few gentlemen pile up
colossal fortunes; second, small dealers who
made a fair profit and were on the way to a
competency are lashed back into the ranks Of
the working classes.
The rule in America has always been that
every man has opportunities, and can rise
above the station In which he was born by
making wise use Of them. That rule was
our boast and pride. The tendency Of this
new state Of affairs Is to deprive him Of those
very opportunities and discourage any fnan-
ciaJ venture. II creates an enormously rich
class on the one hand and the poor classes ON
the other-that Is to say, moneyed arstoc
racy, which Is nations worst conceivable
calamity, and the masses, who dare not com
pete for business and who ultimately become
sluggish and unambltious as are the popula-
tions of the Continent OF Europe. All this Is
antiRepubican and intensely n-Americm,
Talk about the dangers of paternal
government. 1t is as nothing to this
enormous concentration of interests
and the day may come when the Gov.
ernment, in the exercise of its pa,
ternal authority may find it necessary
to check these unnatural growths, in
behalf of the public welfare and oui
free institutions, if not to prevent
their suppression by popular revolu
tion.
\ despotism of Trusts is much more
To be feared than dynasty Of Impe
rialism.