The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1894-01-23
TAKING THE SIDE OF TRUSTS.

Some months ago Mr.. Jerome Dowd,
Of Charlotte, became Professor o.
Political Economy" at Trinity College
There was nothing strange about this
for Mr.. Dowd is shrewd and a deer
thinker. But just why any college
should want his peculiar views on pc
litical economy impressed upon the
minds of it's students is a puzzle that
no n has been able to solve.
In the Charlotte Observer of the 14th
Prof. Dowd has a fve-column article
defending trusts. 1t is a we'll written
and ingenious argument in favor of all
combinations calculated to bleed the
public. The learned Professor starts
out by giving a general idea of what
the public think of the trusts. In a
number of sentences he destroys the
force Of all he says in their favor by
giving his own views, and in telling
what a number of great combinations
have accomplished He argues that
society cannot rely upon competition
as a steady factor in the regulation of
prices. A more absurd proposition
cannot be made. But for competition
the prices of newspapers might be ten
times as high as they are. Without
competition the grocer would sell coffee
at SO cents or more per pound. Were
there no competition everything sold
would be much higher. Human nature
would assert itself every time. But
even competition has a limit. The
merchants of every city, town and
hamlet agree upon a per cent. or profit
and hew very nearly to the line, If
they did not business would be at cut
throat rates all the time, and in six
weeks every to wn and city would ~be
depopulated. The merchant who could
stand the cut throat business the long
est would be the only man left. The
cotton buyers must have an under
standing If they had none the strong
est firm would soon be master of the
situation. Competition and combi-
nation of a legitimate nature is
necessary. Suppose a frst-class col
lege in this State would agree to
educate students at SO per annUm
for tuition. 1t would soon be crowded
to Overlooking and would break down
every other college in the State. A
mechanic might agree to work at 25
cents a day, but he would pull down
his fellow wOrkmen. the trust is not
a legitimate coordination and destroys
competition. If ell the concerns en-
gagged in & certain line Of business
combine they can put down prices and
put them up as they see proper. If a
number IF strong concerns combine
they force weaker competitors out of
the business by putting down prices
below cost Of production until they get
the competitors out of the field and
then make the public pay for the
music. Trusts are not formed for fun.
They have nearly all been successful
and have bled the public to the extent
of millions beyond a l. ultimate profit.
Prof. Dowd may crafty some of his
near neighbors by such a defence, but
when he undertakes to convince the
people of this country that trusts are
a necessity, a benefit, and that they
will finally become popular, he has a
big Job on his hands. The highway
rObber is a reckless man. He doesn't
care much for public opinion and
places a small value on his life. But
e gives his victim a chance TO defend
himself. He only takes what money
he finds in mis- victIm's pocket. The
robOer who joins a trust doesn't stop
when b. rObs you n time but every
day be puts his hand in your pocket
and extracts all he finds When you
get up in the morning you fird that he
has taken something out Of every gar
ment you put on. When you wash
your face he takes tribute from the
soap. The trust takes tribute from the
coffee you drink at breakfast, from the
g in the coffee, f ON the cup. from
your plate, knives and forks If you
buy your meat and -four the meat
trust takes a large slice and the ele-
vaGOr trust gets some of the flour.
Worse still these. trusts first rob the
farmer who raised the hog or COW or
the wheat. 1t is a case of robbery at
both ends and the same is true of many
other trusts The trusts have made
some things cheaper" is often said, but
to do so they have forced down the
price Of the raw material, iniuring the
farmer and az the same time iniuring
the consumer The question looms up,
will YOU continue to vote for men and
political parties that will wink at such
robbery?