Los Angeles daily herald., 1889-06-26
The Logic of Trusts.

Some of the leading organs OF thought
in the Eastern States are beginning to
foreshadow a change of sentiment IN re-
gard to the effect of Trusts. They claim
that as the public apprehension becomes
more enlightened upon the subject, it
finds it safe to recognize the advantages
and economies of commercial co-opera-
ton. of which the most advanced practl-
TONERS are the Trusts. They point to the
recent re port OF Special Committee of the
New York Senate as an indication that
a clarification of public opinion is in
progress regarding what they call this
new and mighty commercial factor" As
q further and striking evidence of the
revolution that is going on in the minds
of advanced thinkers upon economical
problems, they point to the fact that
Francis B. Thurber, who, for ten years,
led the popular war against mbinations
and monopolies, has recently expert
enced the breaking in of great light
upon his alert and versatile mind, and
announced the evolution OF his newly
formed opinions in an address upon
Trusts, delivered before the Special New
York Senate Committee referred to
above. Mr.. Thurber confesses his change
of views in the following straightforward
and unequivocal declaration:
ga careful study of this subject during
the last fifteen years has changed my
views materially. There was time
/. 10, that hip q tJOn
would overcome the force of competi-
ton: that monopolies would be created,
and capital would oppress labor and the
public. but the experience of the last few
wears has shown that l over-estimated
this danger, and that, in the long run.
the com petition of capital with capital
will protect the public interests"
Coordination, says MIR. Thurber,
further on, stends to improve the quail
ity, while competition tends to debase the
quality" We admit that Mr.. Thurber,
who has always been a leading grocer,
ought to be high authority as to the
effect of any condition of the industrial
problem upon the quality of manufac-
lures; and, if he is right in the postulate
he has laid down so systematically,
thoughtful men who have heretofore
held the reverse, and believed that
quality was an ingredient in competition
as we'll as cheapness, will perhaps also
revise their opinions.
We are not prepared, however, to ac-
cept the revised opinions Of the men
and organs of public opinion that are
now in state of evolution toward Trusts.
We believe that the tremendous combi-
nations of capitalized industries now
going on are calculated to destroy indi-
yidual exertion and to make the breach
wider between successful individual effort
and capitalistic cooperation. Indeed,
the crushing out process OF individual
effort is already very apparent factor OF
the great industrial combinations that
are gradually absorbing every trade and
every manufacture.
But this great capitalistic combina-
ton against individual effort that
is now going on in every department OF
activity and production. is perhaps an
evil out of which good may be evolved.
Has it ever occurred to the people who
are now creating and forming these great
combinations that they are teaching the
masses a stupendous object lesson? That
if by combination all the great industries
can be carried on to better advantage to
che capitalists, so by still greater COM
bination they may be carried on, not for
the benefit of the few capitalists, but for
that of the whole people? Does it require
any great stretch Of imagination to con-
ceive the idea that if cooperation can be
used to advance the interests of capital
lists, cooperation can be used to advance