, 1896-11-30

dressed the class in political economy
at the university this morning. upon
the subject OF "Monopolies."
He wished it understood that he did
not make any p%retentions to special
knowledge of the subject. but spoke
of it only in a plain. practical manner.
There was a certain degree OF kinship
between monopolies and trusts and it
was difficult to draw a distinct line be-
tween them.
The primary meaning OF business
monopoly is to own or SO control the
supply of m certain article as to reg
ulate its selling price arbitrarily. Mon
opoly represents power; power ac-
quired by purchase, by force, by in
fuence, by government license, by the
right of discovery, by invention, or
Otherwise. This power may become an
aid or a menace, according to the man
ner in which it is used.
In early days there were no monopo-
lies. Neither were there any business
organizations, coined money. banks,
mail facilitie, ETC.. all of which are
such common factors in the business
world today. Individual transactions
by barter ruled, and such methods of
~transacting business in remote parts
of the earth are in practice even today.
The speaker had had personal exepri-
ence in trade with Madagascar. Yes
sells were loaded outward with cotton
cloth, gaudy calico, bandana handker-
chiefs, beads by the ton, hatchets flint
lock guns 1.-THE only kind the natives
would buy), and various Yankee no
tons. Natives had rubber. ebony,
rosewood, hides. goatskins, beeswax,
tortoise shells. etc. Exchanges were
made according to the needs or ignor-
ance and stupidity Of the natives. On
the west coast of the island English
or French vessels hal equal privileges
with the American. Monopoly for
either was impracticable. because nj
organized power existed there to grant
monopoly of trade. On the east coast.
however. the Hovas exacted from trad
ers an import duty of 10 per cent
in kind. i. e., having no use for money.
goods landed. On the other hand they
enforced a monopoly Of the traffic in
their two leading exports, rubber and
ebony. They bought these products
from the natives and sold them to for
eigners at an enhanced valuation.
In like manner the Dutch formerly
monopolized the Java exports Of cof-
fee. which was an important part OF
their revenue. Only a fine grade OF
coffee vas handled, and this was the
origin of the lame or brand, "Old
Government Java"
The most notable instance of mon
opo1y in past days was the famous
English East India company. chart
cred 200 or 300 years ago Formed to
develop the East Indias. it was granted
a monopoly of the British trade with
that region. 1t became influential and
wealthy, ruled the natives, carried on
wars. shut out competition and went
so far as to Danish American mission
aries for fear of their influence upon
the native mind. 1t benefited the
country very little and took all II
could from it. Its power was broken
by the introduction of steam and the
invention of improved methods Of
communication and intercourse, and
then the control OF India was forcibly
assumed by the English.
American m%onopolies are of compar.
atively recent growth, having develop
ed as a natural sequence OF the pros
perity Of the nation. Some OF the
greatest inventions Of the age are Of
American origin, as the sewing ma
chine. the telegraph, telephone, cleo
trio power, etc. and have yielded great
harvests to the inventors or the stock
companies interested. Then the de.
velopment of the marvellous natural
products of the soil, dixie iron, copper
coal. oil and gas; the discoveries in
ClelllIStIy, Improvement III duu dudpl>
alton OF machinery; the impulse given
to various industries by the cheaper.
ing Of processes, by the growth Of
markets. by the opening OF the great
south and the greater west, by the ex,
tension of railways and water trans.
portation, have all had the direct ten.
dency to enlarge and concentrate the
general scope of commercial transac,
lions, domestic and foreign. Many o.
these branches Of business gradually
come to assume unwieldy proportions
in the asence Of any mean of check.
ing them, and their products exceed the
requirements OF consumption.
Monopo1ies and fortunes are builded
upon the great inventions and patents
covering them.
Combines and trusts are formed fol
the purpose OF selHshly controlling the
supply and raising the cost Of articles
which the people are compelled to buy
the actual n~ecessaries Of life. They
thrive upon the toll and life OF the
people and usually are not beneficiary
Institutions. A monopoly c~ontroflins
a patent is something quite different
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