Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1889-07-12

ARD oILTRUST, THE WHlShE1 IhOoI,
THE SUGAR TRUST AND THE COTTON
BAGGING TRUST.
We present below the first OF
series of papers on Trusts and Mo-
nopolies," especially prepared for the
Baltimore Sun by the Hon. VIM. l..
Wilson, of West Virginia. The open
ing paper which is preliminary In its
character, is as follows.
TRUSTS AND MoNOPoLIEs.
Readers of the Sun of June % may
have observed a statement III Its New
York letter that the railway stock
market, heretofore the chief and IA
vorite field of speculation, was over
shadowed by the dealings In the
trusts" and those who note its
daily reports from Wall street and
other stock exchanges have learned
that trust certificates" and trust
stocks" have already become common
subjects of investment and specula-
ton in those exchanges.
Yet, when Mr.. Cleveland, on the
first Monday in December, 1887, sent
his famous tariff message TO Congress,
and asserted therein that these COM
binations existed and threatened to
deprive the customers of such artl-
cles as are protected by our tariff
from the benefits of that competition
among domestic producers, which ad-
vocates of protection have always
promised them, his assertion was
promptly challenged and his state
ment widely controverted.
The President said: But it is now
notorious that this competition is too
often strangled by combinations,
quite prevalent at this time and gen
erally called trusts, which have for
their object the regulation of supply
and price of commodities made and
sold by members of the combinations.
The people can hardly hope for any
consideration in the operation OF
these selfish schemes"
Even a month later, so well inform
ed statesman as Senator Sherman,
of Ohio, in a speech in the Senate,
which he published for circulation
under the title Reply to the Presi-
dents Message and which was in
tended, not only as a deliberate reply
by leader of the opposite party, but
as that leaders bid for the presiden-
tial nomination in his own party, said,
alluding to this assertion of Mr.. Cleve-
land: Il hope the President will be
able to specify them. know of none
SUCH
But Senator Sherman could not re-
main long in this blissful ignorance,
and he did not hesitate TO propose a
method of dealing with these organi-
cations when once he became satisfied
of their existence and their objects,
for have lying before Inc Senate bill
No. 3445, which was introduced by
Mr.. Sherman on the 4th of last August
and whose title shows it to be bill
intended Ito declare unlawful trusts
and combinations in restraint of trade
and production"
But neither this bill of Senator
Sherman and other threatened legis-
lation, nor the denunciation of large
part of the press and decided symp-
toms of hostility on the part of the
people, have availed to stay the for
nation of trusts or prevent their
rapid spread over the fields of indus
try and trade.
INVESTIGATING THE MYSTERIES.
Meanwhile there is u natural desire
among the people to learn more of
their modes Of formation, their objects
and methods of operating, and espe-
cially to learn whether they are big
with the social and political evils fire.
quently prophesied of them, or really,
as their defenders have made haste
to claim, useful and commendable
improvements in the instrumental
ties 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 supply
information on these points, and es-
pecially to make clear what n trust Is
and how a trust operates, as also TO
indicate and examine some OF the leg
islation proposed in Congress and
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 conceal
ment about their birth and opera
tions.
Fortunately for our present purpose
two seperate legislative veinvestigatlons
have disclosed the general type Of the
trust, from which variationsof species
are of minor consequences.
A committee of the New York Senate
began the inquiry in February, 1888,
and gathered much information, not
only as to such widely extended or
ganizations as the sugar trust, the
Sfopdard Oil truSt and the eottonsoed