South Branch intelligencer. [volume] (Romney, Va. [W. Va.]) 1830-1896, 1889-07-12
The INTELLlGENCER
FRIDAY. JULY 70, 1889.
TRUSTS & MoNOPoLIEs.:

The following 10 the first Of series OF
able articles on the above subject now being
written for the Baltimore Sun by Hon. Vim.
L. Wilson, Congressman from this district.
-Ed]
Readcrs of the SUN OF juno Is may
have observed statement in its New
York letter that the rail say stock
market, heretofore the chief and IA.
vorite field OF speculation, was 'ovsr-
Swallowed by tho dealings ia the
trusts. and those Who note its daily
reports from Wall street and other
stock exchanges have learned that
trust certificates and trust stocks'
L ave already become common sub
jects OF investment ami speculation
10 these exchanges.
Yet, whom Mr. Cleveland, on the
first Monday in December. 1887, sent
his famous tariff message to Con.
gress, and asserted therein that these
combinations existed and threatened
TO deprive the consumer of such arr
ticles as are protected by our tariff
from the benefits OF that competition
among domestic producers. which
advocates Of protection have always
promised them, his assertion was
promptly challenged and his state.
ment widely controycrted.
The President said: But it is now
notorious that this competition is too
often sirangled by combinations,
quite prevalent at this time and gen.
orally called trusts, which have for
their object the regulation Of the
supply and price OF commodities
made and sold by members of the
combination. The people can hardly
hope for any consideration in the oss
Grafton o! these selfish sche mes
Even q month later, 80 we'll in.
formed a Statesman as Senator Sher-
man. of Ohio. in a speech in the Sen.
ate, which he published for circula-
ton under the title Reply 10 the
Presidents Message and which was
intended, not only as a deliberate re.
ply to leader of the opposite party,
but as that leaders bid for the pres
idential nomination in his own party,
said, abiding TO this assertion OF Mr..
Cleveland Il hope the President
will be able to specify them. l know
Of none SUCH
But Senator Sherman could not
remain long In this blissful ignor-
ance, and he did not hesitate to pro-
pose method of dealing with tn csc
organizations when once he became
satisfied Of their existence and their
objects, for have lying befora me
Senate bill No. 3,445. which was in.
troduced by SIR. Sherman on the 4th
OF last August, and whose title shows
it to be bill intended TO declare
unlawful trusts and combinations in
restraint OF trade and production
But neither this bill of SENATE
Sherman and other threatened legis.
latioD, nor the 1enunciatiou of a
large part OF the press and decided
symptoms of hostility on the part of
the people. have ayailed to stay the
formation Of trusts Or prevent their
rapid spread over tue fields Of in.
dustry and trade.
INVESTIGATING TUE MYSTERIES.
Meanwhile there is q natural de-
sire among the people to learn more
of their modes OF formation, their
objects and methods Of operating,
and especially to learn whether they
are big with the social and political
evils prophesied OF them, or really,
rs their defenders have made haste to
claim, useful and commendabls i'm
provements In the instrumen,alities
OF production and exchange, by
whose operation all classes are event.
ually to be benefited.
1t is the purpose OF this series of
papers. undertaken at the request of
the publishers OF the Sun, to sup
ply Information on these points, and
especially TO make clear what trust
IS and how a trust operates, as also to
indicate and examine some Of The
legislation propc sed in Congress ADD
elsewhere for their control or sup
preston. Their number, magnitude
and apparent mushroom growth have
not more impressed the people than
the fact that there is almost always
an element of mystery and Of cons
cealment about their birth and oper-
atoms.
Fortunately for our present PUT.
pose, two separate Legislative inyes.
legations have disclosed the general
type Of tho trust, from which varia-
tions Of species arc of minor conse-
quence.
A committee OF the New York SEN
ate began the inquiry in February,
1888, and gathered much information,
not only ss TO such widely extended
organizations as tue sugar trust, the
Standard Oil trust and the cotton
seed oil trust, but as to quite
number Of similar organizations that
were local TO New York city and
Brooklyn.
The resolution under which the
committee acted was adopted on the
10th Of February, and required them
to report by March i, and, although
they bad the assistance OF such able
counsel as Gen. Roger A. Pryor aud
Col. Geo. Bliss their investigation
was necessarily hasty and somewhat
superficial, but the gener.
al features Of the trust, "a outlined
in this testimony, and in the prelfms
mary report Of The committee, fully