New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-22
TRTSTS IND THEIR USES.


Public hostility TO such trusts as have used
their power to plumber the people does not JUS
tify the prevalent impression that there is some
thing wicked in the very nature of the organiza-
ton. Its power comes from the same virtue
which lays the foundation Of all property, and
therefore Of all civilization, namely, from self
denial.
Whoever has produced has power to consume
in personal qualification the fruit OF his labor.
He abstans, and there is wealth preserved for
future needs. Without such self-denial on the
pant Of some producer, there would be no aG-
emulation Of unexpended wealth, no capital
to employ or support industry, no civilization.
SO whoever controls business or industry has
power to manage it as he pleases He denies
himself that power, intrusts it to another that
an interest common to him and to others may
be served more wisely for all, and thus comes
that stronger form Of corporate organization
called a tlust. 1t could not come into exist
ence if individuals did not consent, for COM
mon good, to surrender part of their rghtiul
control over their property.
The popular impression is that the union of
many in any business for their common good
is necessarily conspiracy against the good OF
society. But that is not the fact. They may
combine, and often do combine, only for the
purpose of avoiding expenses which each must
meet If each acts for himself, but which all
can save almost wholly if one acts for all. They
may combine, as workingmen in England do
with much success, in order to purchase at bet
ter rates by buying more largely and from first
hands. They may combine, as many man
uiacturers have, only to unite capital enough
to effect important economies, by developing
new resources, or by improved machinery or
processes. In these and many other ways COM
binations may lessen the cost of production for
all concerned, and hence the necessary cost Of
products to consumers. that is to the public.
But the trust is designed to save for the
producers, and to add all the sums 50 saved to
their protits.' Undoubtedly just as the farm
err does not sell Il buShel Of wheat at 80 cents
if he can get 81, and the laborer does not look
for work at - day if he can get So Yet the
trust, like every other producer or seller, is
governed largely by its market. If it cannot
find customers for all that it has to sell at one
price, it is forced to Try lower. When econ
omies have increased power of production Gus
toners must be found for the increased product,
ana that Is generally done by concession III
price, and often cannot be done in any other
way. With the lower price the public gets
share of the savings effected
These are illustrations Of the truth that a
trust, just like the business of q corporation or
individual, can be managed honestly and in en-
tire harmony with the public welfare. The
fact that many are not so managed is obvious
and ii is equally obvious that many have no
other object than to control the market by ter
minatng competition, and thus to raise prices
~ pleasure and eXtort money from consumers.
But the frequent abuse of a power does not
prove the power itself necessarily harmful.
The trust is a sharp edged knife, which can
be used only for carving and feeding the
hungry, or can be used for manning and muir
der The crime is in the Use and not in the