The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1889-04-19

Mn. EDIToR:-The Political Science
Quarterly is a periodical conducted /
by the faculty of Columbia College, +
Ny. On the 385th page George /
Gunton contributes an able article
on the Economic and Social As
poets of Trusts" and on the 593d
page Prof. Theodore W. Dwight, at
the head of Columbia Law School.
commences one on The Legality Of
Trusts" These articles are very
able. should be glad to see them
before every reader, but their length F.
forbids many extracts. Mr. Gunton .
says: Our foremost journalists, /
essayists, orators, and publicists,
unite in warning US against the evil .
consequences to be expected from |.
the organization Of trusts, syndicates /
and the like. In fact the atmosphere !
seems to be surcharged with an in /
definite but almost an indispensable I.
fear of trusts To be hostile to /
trusts almost seems a passport to /
righteousness. What can have pro /
duced such universal apprehension, .
such fear of oppression in the sue !
cess of trusts Trusts are designed |
to cheaper production by a cOmbin- |.
alton of capital ia one hand; to en-
able the operator to produce the |
largest amount, with the least means, !
for the least expense, to cheaper the !
necessaries and luxuries of life to !
the consumer. Few persons are |
able to do this without combination, /
and a successful trust, bringing |
wealth to the trustee, will bring a |
blessing to the community and the |
cheapening of prices shuts up
smaller establishments, for it costs
them more to produce than it does
the larger ones" Mr.. GuntOn de- |
mOnstrates IN numerous instances
the good effects Of combinations. In
cotton manufacture, there We're.
In 1880. In 1880
Establishments. .......80l 756
Capital invested $40, 6l2 ,9S+ SOS, 280, 34S !
Pounds of cloth
produced. % ,0l4 ,926 COZ ,264 ,24l /
Number persons
employed. ....... 81, POS IL, 54+
Number of spin
dies employed / ,246, 7O3 1865, 435
Amount capital o-o .-,.
per per ln IN L.. Soo''0- S-'0'o0+
i'' rr0d M pIu''f 10
ranitaI 14+o&1 % q
Ratio of capital
to persons 1852. 50 to | $I2O7I7toI |
Ratio spindles
to persons. .......22 to 81 to l
Ratio capital to
SPliloles. -. 'Soz.oo 10 1880 10
d,,oaT 80
dnindIas 4z6toI 5-Oto7
Annual c'ns'mp-
ton pounds
cotton cloth
per capita. .........5.90 1891 !
Price per yard IL cents cents |
ayes per week 49,. I'D F''fo
The writer says: 'Ihese are Wo
mem wages, as there Wee no men
employed as operatives III 1851 to
warrant far comparison, but IN the
extent they were so employed their
wages have risen III similar ratio to
those Of women.
It will be seen by the above that
by the addition of capital, the intro
duction Of improvements, etc, the
756 establishments OF 1850 cost more
than five times as much as the 6OI OF
1880; that they produced ten times
as much cloth, employed nearly
three times as many persons, at
more than twice as high wages, and
that while the use of combined CAPT
tai had undoubtedly enriched some |
it had diminished the cost of pro
duction to the consumers, at the
same time doubling their wages |
and increasing their ability to buy. |
There are economic advantages IN |
these institutions which cannot be |
found IN smaller ones, nor would be !
found but Tor the combination. mus /