The midland journal. (Rising Sun, Md.) 1885-1947, 1890-01-24
Imperial Power in Business.

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declares he has answered all objections, and
that his critics have not read his statement o.
the case carefully. This objection does MOI
apply 10 us at all events for we have noted
carefully all the strong points The Fnancie,
has advanced in support denomination and
concentration in business. From a purely
economic standpoint, few if any of his crit
les differ from the EDITORS views. Tha
there is great economy in conducting bust
ness on large scale, is SO apparent that ne
reply is thought necessary to The Financier'
elaborate arguments to demonstrate this fact
Our objection, and it is the one common
objection, is not to trusts, monopolies and
corporations. as such, but to the unbridled
license they enjoy.
The Financier denies any resemblance be-
tween "Imperialism" and trusts. No one
has contended there is. ''Imperial aggres
sion and trusts or consolidation are so neal
akin that little or no distinction between
them is possible" is what we said. In at
tempting denial of this The Financier goes
into lengthy argument to show that sim.
perialism" is very different This is not
the point. The wings of bird and the
legs of an animal are different, very, but
there is also striking analogy between
them when we compare the results of the
two. This consists in the source of power
which each represents. The "dlvine right
claimed by the king, is but trick of king
craft to awe the ignorant. Imperial power
is found in organization. That organiza-
ton grew from small beginnings. The
royal family is hedged about by an aristo-
cracy or titled class and sustained by an
army. That combination holds the purse
strings of the nation. 1t takes oftheir
NEUTRALITY-SUSPICIOUS. it pleases to sus-
tain and perpetuate its power and there is
none to prevent. Imperialism seeks its
highest qualification in dominion, the pride
of rule and government over nation Of
people.
The trust is consolidation of corpora
tions, which disputes the existence of weak.
er corporations, and either squelches them
or oompels them TO acknowledge its supre-
macy and control. The qualification o { its
ambition is wealh, not dominion. The
trust is organized to destroy competition
Competition exists during a period Of
growth, and when business has attained the
strength of manhood maturity, competition
must cease among corporations by the law o.
the survival of the fittesI. 1t cannot SUR
vive for ever and can only serve as tenn
porary check to extortion. The inventions
of the age and the application of science tc
the arts has brought US to the borderland Of
that period. All admit the economic merits
of combination and consolidation in all
their varied forms as applied to every
branch of business, but in this power turks
the old abuse of Tyranny ard usurpation.
Against this abuse Of power which is always
imminent in these colossal aggregations Of
capital, skill and mechanical forces, the cit
izen must be protected. The Fsnancier in
its treatment of the subject, invariably loses
sight of this point and places the corpora
ton, trust and citizen on the same plane.
They are entirely different in their natures.
The corporation is creature of law, the
trust is developed by the gravitating to each
other Of corporations, but the citizeu is
purely natural product. The citizen alone
as factor in business has so many equals
provided by the hand of nature with sim
liar powers, that the law of competition has
proved mostly sufficient to prevent him
from securing much advantage over his fell
lows in the struggle Of business, and the
simple laws which govern society have
proved sufficient for its protection. But the
corporation is wholly a creature of law, and
is therefore subject at all times to its con-
troll. 1t is beholden to law for every right
it possesses, and when those rights encroach
upon the public welfare, the law can revoke
them. The Corporation in power compared
10 that Of the individual, is as Samson to the
Philistians. The law places plenty of pro-
visions and restrictions in its Charter but
they are as new ropes to Samson, and when
these restraining provisions are eyaded or
audaciously broken through, like the
Hebrew giant, it finds plenty of jaw bones
ready TO wag in extenuation of the viola
tions. The Trust is still m ore dangerous
than the simple corporation, because many
times more powerful. The Corporation be-
comes the mere shell from which the full
aedged creature of power has emerged. The
stock of each corp Grafton is capitalized with
an addition water probably of 80 per cent
These corporations lose their identity and a
new being is created without the permission
of law. Competition, which has been de.
pended upou as safeguard of the people
to shield them against extortion, is wiped
out. The half dozen persons who assume
control of this great aggregated force, exer.
else power over that branch of business
which approaches Imperial power in gov
eminent affairs. That power can curtail
products and make prices, almost with alb
solute will, governed only by the ability OF
the community 10 pay. When this business
machine is adjusted to the point which
draws in the largest revenue, the set screw
is turned and the work proceeds. The i'm
mense gains which the industrious hands oil
a whOle nnmmnpitw ,rodnoad anJ enhe;s,o Cd