New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-02-02
MR. DODD,S DEFESCE OF TRUSTS.

Conspicuously printed in to-day's TRIBUNE
is an article of remarkable power and lucidlty
contributed by Mr.. S. G.. IT, Dodd, upon the
vexed subject OF trusts Mr.. Dodd is well
known as the legal representative of what we
should describe as the most crushing, and he
the most benefcent trust in the world His
article here is one of that series OF discussions
pro and con, which we have invited representa-
tive men to undertake in our columns during
the present year upon those questions OF the
day which are most serious and pressing Much
has already been printed upon both sides OF
this particular controversy, but we do not re-
member any contribution more interesting or
more certain to compel attention than the one
we print to-day
No one will accuse Mr.. Dodd of attempting
to evade the issue--of refusing to see what it
is or Of an effort to obscure it in the sight OF
others. On the contrary, whatever may be said
Of the premises he lays down or OF. the logic he
applies to them, it will have to be conceded that
he is admirably frank and undoubtedly sincere.
Though claiming that the word trust has prop
erly but a limited significance, he adopts the
broad meaning which it has come to have in
the public mind, and bravely essays to prove
that combination to regulate the output and
the price of a commodity is necessary in bust
ness as it is now conducted the world over is
wholesome in its effects, just under good law
and rarely, if ever dangerous. He claims that
such dangers as may be apprehended, and as
have occasionally appeared, are not those usual
ly suggested; that they are dangers easily pro-
vided against, and that the realization of them
is easily punished. He insists that laws to pre-
vent such combinations, if logically enforced,
would speedily bring commerce to standstill
and human occupation to its aboriginal char
acter that upon proposition defining as Grim
| inal such combination as tends to limit produc-
ton and establish prices no line can be drawn
between a league of corporations who decide
among themselves to produce so much, and only
so much, of their commodity to pay not moro
than such price for their raw material and to
accept not less than such for their manufact-
ured article, and a couple of neighboring farm
ers who agree to plant only so much wheat and
| to sell the grain at a certain figure.
In describing what he conceives to be the
effects of trusts, Mr.. Dodd draws a picture
which to many people will seem novel, if not
fanciful. And yet much OF it is incontestably
true. 1t might be wholly true without weak.
| ening the argument against these combinations
That, with population enormously increased
since war became unpopular and men have
been trained to conform their habits of life to
the laws of health with the development
of mechanics and of their application to all
sorts of industrial devices; with the growth OF
railroads and steamships trade has taken new
forms and has gone into larger and improved
methods and relations, will not be denied. That
new conditions are thus imposed upon capital
lists, laborers and consumers is equally true. II
NAV even be admitted that the moral character
of combination is ascertained, as Mr.. Dodd al.
leges, by its aims and its results. But its lega
test is, if not other, surely further than this
The public must take cognizance as well OF
what il can do as of what it does do. And
perhaps the line can be drawn between a
gigantic trust and an agreement of neighborne
farmers as TO their wheat crop according to the
power they may be able TO exercise over the
article they deal in.
We are glad to print Mr.. Dodd's admirable
paper, even though we cannot agree with it
for it is only BY consideration OF all sides Of