Smyrna times., 1888-02-15

monopolies. An investigation of these
combinations of capital has been order.
ed by Congress, and number of State
Legislatures are also moving in the
matter. The Iowa Legislature recently
passed series of resolutions recitino
the wrongs and abuses resulting from
this new form of monopoly and callino
upon Congress to take some stems to,
wards correction of the evil. Meas.
ures having this end in view. have
been introduced in the Legislature ~
New YORK. 1t is high time that some
action of this kind was taken. III is
within the power of any legislature
National or State, TO protect the people
from the remOrseless greed of unscru,
pulous conspirators, that power should
be exercised without delay. During
the past few years there has been q
rapidly growing tendency on the part
OF individuals and corporations. en-.
gagged in the production or manufac.
ture of the necessaries of life, to unite
their means and forces in such a Wav
as to gain complete and absolute con-
troll OF the markets. Instead of allow
ing business to be conducted on the
old and safe principle of free compe-
tItlon, with prices regulated accord
ing to the natural law of supplv and
demand, the idea has been to form
combinations of all those engaged in
each particular branch of industry
with the views of fixing arbitrary
limits to production and of creating
artificial prices for the necessaries and
comforts of life. The volume and
prices of products controlled bv these
combinations are not regulated bv the
natural volume of supply, by the
demands of the market, or bv the cost
OF production, or by ANYTHING other
than the will Of caprice of the parties
in control. These parties can issue an
order, for example, that the production
OF certain article shall cease alto
gether for time, until the market is
IN condition to suit their purposes.
They can at any time and without
assigning any reason, raise the price
OF an article to twice or thrice its
natural and ordinary value. These
things have actually been done in
numerous instances in the past few
years. According to the resolutions
introduced in the Iowa Legislature the
price of hard coal has this season in
Central Iowa been advanced from So
to 50 per ton, as the result of mopopolv
control. In Kansas a similar advance
has been made. In Chicago a Gas
Trust, recently formed, has already
raised the price of gas to nearly dou-
BILE its former figure. A Trust has Just
been formed to control the sugar trade.
1t is stated that the profits on the
S6O,OOO,OOO nominal capital of this
Trust are at the rate of twelve per
cent. per annum, and that as the
actual value of the properties included
is understood not to exceed $40, OOO,O 900,
the profits are equal to thirty-six per
cent. on the investment.
We have recently in these columns
given an exact definition of a Trust.
1t may be made the worst form of
monopoly ever yet devised by ambi-
tlous and scheming men, 1t is far
worse than the Pool because it is a
stronger and far more compact organi-
cation, with greater contradiction of
wealth and power. A combination of
capital In the form of Trust is less
liable to be effected by outside influ.
ences than any other MONOPOLY. and
1t Is practically free from all danger of
being broken down by the riValries
Jealousles, or treacherous acts of its
own members. The Trust is in short.
a form of absolute monarchy, limited
IN its sway only by the extent of its
special trade of industry. Within
these limits it has the power of life
and death literally within its hands
life for those who yield themselves up
and lose their independence and iden-
tity III the Trust, death for those who
dare to stand alone and dispute its
control in the markets. This ApDlies
to those who seek to engage independ-
emily in the particular Industry ruled
over by Trust. For the general pub
lie there must be a wav of escape
from the exactlOns of any industrial
tyrant. If the Trust system continues
to spread as it has been spreading in
the past year, we shall soon see the
whole Industrial world divided up into
these mOnarchies, related to each other
only so far as it may be necessary to
secure common end, the plumber of
the people. Between them all the
people, the workers, will be ground
into the dust. There will be only two
classes, the one masters, the other
slaves. There will be an end of all
life and ambition in the work of the
world. Merciless greed and cruel sell
lshness will be the two controlling
principles on which all lines of trade
and industry will be conducted.
Money will then indeed be king and
ruler over all.
This is dark picture, but it is no
darker than the reality will be if com
binations of capital are allowed to 90
on unchecked. The inevitable ten
dency of the Trust system is to bring
about just such a condition of affairs
to ensure vast wealth to the few and
hopeless poverty to the many. How
these evils may be reached and RENE
died is a problem not easily answered"