The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-02-17
THE UsEFULNEss OF TRUSTS.
The r'rireipie OF such Combinations Fol-
ioweatn Ancient and Modern Times.

The Principle OF such Combination Fol-
ioweatn Ancient and Modern Times.
To THE EDITOR OF The SuS-Sir: Mr..
Stephen Lynch, who founded the great COM
mercial and ship building firm ofLynch Brothers
at Bagdad, Mesopotamia. found In the ruins OF
Babylon. about ten years ago. cuneiforms which
show that several trusts hourished throughout
that land more than three thousand years before
the Christian era. Mr.. Lynch believes that
these ancient trusts fostered and maintained
tho currents OF and manufacture.
which for thousands Of years flowed through
Mesopotamia to and from Contra, and Western
Asia and Europe. By the adoption Of q COM
bination o Z the methods OF ancient and modern
trusts. commerce is beginning TO flourish once
more along the courses OF the ancient Eu-
On the site where native tradition locates the
Garden OF Eden Lynch Brothers have placed a
Yankee sawmill and n shipbuilding pant full of
Yankee machinery. nearly ali OF which was made
by trusts. Trusts are not modern creations In our
own country. The first little merchant vessel
built and owned In our land was built, owned,
and sailed by n trust. made up OF totners. black
smiths, ~calHers. riggers. painters. sail makers.
was sailed ION shares" from the master down
to the loblolly boy. The great ocean carrying
just such trusts; When whales abounded OF
the coast OF New England the %,whalers
went shares" in small bouts. In time
the Arctic aud Pacific oceans for whales:
the money to provide. ships and stores for the
farmers. mechanics. and merchants. The mas
ters and crews OF the whalers were also members
incorporate Of the trust. and their earnings de-
pended altogether upon tho number OF barrels
OF oil sent home. When the whale oil industry
declined. the shareholders IN the whaling bpsi:
ness got out OF II ~ well us they could aud pooled
their issues in cotton factories, railroads. and
other industries. Nearly ali our large manufnc-
trusts made up OF enterprislng men and women,
who nut their hardly earned dollars together for
the purpose of starting factories to give employ
m.nt to their children and neighbors.
Fifty years ago II was SO difficult TO get cap
ital for manufactures that worSmen were ex-
day. leaving the remainder in the concern
drawing interest at o per cent. with an annual
settlement. when in. most cases the mechanic
accepted n note running u year. II the mechanic
wanted TO marry or had. death or. sickness In
his family. the principal stockholders in the
orders for the emergency. In all These early
factories the business was conducted on what In
the modern parlance of demagogues Is called
trust methods" These demagogues do not
know that the stock of our largest enterprises
whose bread and butter Is paid for By dividends.
The other day | was standing In the New York
was ranting about the grinding monopoly " OF
that railrond company, owned by one family
OF piH' &c GoS Sol AZ a nn mater OF III, tsS,; there are
many OF whom are small farmers. mechanics,
section hands, and widows OF former employees
Little Tommy Todd!ekins. the six-year-old
hoy wonder who writes the plate matter for tho
Auti- Trust Association, Is having lots of fun
out Of his writings against the American Sugar
Refining Company, but Tommy does not know
that the high quality aud low price OF American
other adulterants OF candy out Of use and
enabled our manufacturing coufeutioners To
double their output since 1894. A great deal OF
the illness and mortality among children before
1894 was due to adulterated penny candy. the
sale OF which in this city averages $4,000 "A
day. Now. pure candy Is sold ~every and
our manufactures thereof find markets in all
parts OF South America. Mexico. Europe. Asia,
and Australia. The export business dates from
the establishment OF the American Sugar Re-
filming Company. u. WILrRED PEARCE.
NEW SORK, Feb. 10.