The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1889-12-07
MoRGANTowN VIRGINIA, SATURDAY, DECEMBER T.
TRUSTS AND MoNoPOLIEs.

TRUSTS AND MONOPOLIRS.
How Shall They be Dealt Withi-Re.
view Of Some Proposed
Methods.
1t was stated in the beginning Of
these papers that they would con-
clude with some review of methods
proposed, either by legislation OF
otherwise for the suppression or reg
ulation of trusts. But for this
promise l would not venture, after
SO long an interval, to resume the
discussion, and especially on that
branch of it which is confessedly be-
set with most difficulties. / need
hardly say that while there has been
very unmistakable expression of
public opinion that to prevent the
abuses and to curb the growing pow
er of trusts there has been as yet no
concurrence Of opinion as to the form
and nature of the remedies.
DEFENDERS OF TRUSTS.
This delay has not been altogether
time lost. 1t has given the advocates
of trusts full opportunity to set
forth the legal and economical
grounds upon which they justify and
defend them, and it has clearly
shown that whether the advocate be
professed economist, like Mr.. Gun
ton, a law writer, like Professor
Dwight, or an open and recognized
champion, like Mr.. Dodd, solicitor
of the Standard Oil Trust, the de-
tense uniformly ignores or skillfully
avoids the objection to trusts on
which public opposition is mainly
based. That objection is tina, what
ever else they may be, they are and
are intended to be monopolies in
their dealings with the public, es-
pecially including under that head
producers Of their raw materials,
consumers of their products, the
laborers they employ and the COM
petitors they encounter.
These defenders see the trust from
the point of view of the producer Ia
lone, and if the scheme is effectual
in relieving him from distressing,
and, possibly at times, hurtful
competition, in steadying his bust
ness and in making sure his profits,
they regard the defense as complete,
and have no concern for those who
are injured or even destroyed by it's
operation.
Their argument that the more alb
solute you make the monopoly of
the producer the more surely you
protect the interests of the consul
mer reminds US of the argument
which Mr.. Madison tells us was
made by the monarchists, that the
greater the power given to the gov.
eminent the more secure were the
liberties of the people.
PREMATURE MEASURES.
1t has been the chief object of
these papers, not so much to suggest
remedies as to prepare the way for
their intelligent consideration by
making plain the real structure and
operation of trusts, disclosing their
true purpose and effect and assert
ing conditions that most favor their
growth and maintenance. AS secre-
cy has been from the beginning the
common refuge of all trusts, it is not
surprising that most of the repress
i've legislation proposed has been
framed upon an incorrect, or at best
an insufficient knowledge of their
framework and operation. The able
lawyers who drew the deeds under
which these combinations were form
ed anticipated the direction of the
earliest attacks and the line along
which hostile legislation would first
move.
In all legislation for the suppress
sion of abuse it is of the highest
moment to respect and observe the
great maxims and principles upon
which free government has been
slowly and lahoriously built up, the
established and inviolable safe
guards of liberty and property, and
in our country not less carefully
also the just boundaries between
State and Federal authority.
THE SOCIALISTS.
Hence, however we may amuse
ourselves with the theories of those
who dream of an arbitrary reconstruc-
ton of society, we cannot forget
when it comes to practical states
manship that the greatness of our
race has largely consisted in its
ability to reform without destroying,
and in it's traditional teaching that
we must seek in the laws of the ex-
listing social fabric, which is the
organic growth of many centuries,
for principles by which to deal with
new evils as they arise and to test
new legislation as it is proposed.
1t is not to discuss any of these
theories as remedy for monopoly
but to confirm and emphasize the
views have heretofore presented OF
the real nature OF trusts, that l cite
the fact mentioned by Prof. Ely in
his admirable papers in the Sun
that socialists the world over have
joyfully hailed trusts as harbingers
of the speedy triumph of their doc.
trines.
Recognizing them, in the words OF
one of their leading writer's, MS quot.
ed by Prof. Ely, to be monopoly in
its most concentrated FORM they
welcome the capitalists who organ.
ize them as unconsciously the great
est revolutions in the world, prepar-
ing by consolidation of industry in
a few private monopolies for the easy
appearance of single great public