St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-05-15
THE FLY ON THE WHEEL.

Mr.. WATERBURY grew rich IN max
ing cordage, and died leaving his busi-
ness and his millions to an ambitious
SON. EmuIous of the meteOric fight of
others of our modern NapoleOnS of
trade, he conceived the idea of uniting
the cordage works of the continent in
one grand, absolute, wealth-colning
combination. The National Cordage
company was the outcome Of his efforts.
1t took in by hook and crook all the
mills it could reach. 1t issued $4,000
600 of common and S5,000,0OO of pre-
ferred stock. 1t sent its agents abroad
and cOrnered the MANILA and SlSal. 1t
bought the patents on cordage machines,
and would let the manufacturers sell to
none but itself or its licensees.
Among the consultations was the
factory and patents of JOHN GOOD. The
trust agreed to pay him 100000 an
nually to do nothing. The trust paid
him this for thirteen months, and then
stopped. Up to this time everything
had gone swimmingly Tor the trust. 1t
had practical monopoly of prices.
Binding Irvine went steadily up in price
until MANILA retailed at sixteen cents,
and other qualities proportionately. Its
field was broadened; Canada was in
vaded, and its mills bought with stock
and cash payment. More mills in this
country were taken in. The Napoleon
of cordage became drunk with the
liquor of power. He thought that GOOD
and his mills and patents were no longer
needed, and discarded them and stopped
the subsidy.
Meantime fourteen and sixteen cents
pound for twine outraged and enraged
the farmers of the West. They re-
solved and protested against it. They
began to send Democrats to congress
from Republican districts, and Alliance
! men to the legislatures. They discussed
measures to rid themselves of this octo-
pus of their haryests. In this state
they hit on the device of utilizing the
labor OF the prison convicts. The legis-
lature, always paternally careful of the
poor farmers, however Indifferent to the
people, granted them money to buy ma
terlal and machines. The prison sold
its Irvine at nine cents pound, that is
at cost.
But when the trust broke faith with
GOOD he put mis- mills at work again.
| There was war between GOOD and the
trust. The latter tried the usual tactics
| of forcing him to the wall by reducing
| prices. 1t cut Irvine from 1853 in 80 to
| 9.94 in '91, and about the same in '92.
Congress helped GOOD by putting ssal
and MANILA on the free list; it helped
| both by keeping tax of 40 of cent a
pound on imports of Irvine. There were
forty-nine mills run by the trust. and
| eleven outside of it, all making Irvine,
not counting the Minnesota affair with
| its three machines.
There is a story about fly that lit on
a wheel just as it began to revolve, and.
attributing the motion to its own weight,
| complacently remarked on what it was
capable of producing. The Minnesota
Irvine plant also lit on the Irvine bust
ness just as the giants in it began their
war of determination, and, seeing the
prices fall under the force of the contest
! in which it was an insignificant figure,
| its projectors, with the complacency of
| the fly OH the wheel, said: "Behold what
we have accomplished" The trust is
broken, thank the Lord. GOOD and his
| outsiders have broken its back-for a
time. Now, if congress will make hemp
and Irvine free of tax, we may hope to
have seen the last of that trust; and
meantime the state can continue with
benefit keeping its convicts making
| Irvine, but it mustn't think it is the fly
! on the wheel.