The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-04

the motive Of our modern trusts along
their logical line Of development until
they merged into one gigantic whole
embracing all the people. managed by
all the people for all the people.
But we have not yet had the trusts
accounted for, explained and defended
by themselves or by their organs, until
now. when the Manufactures, pub
lished in that storm center of combs
nations, the Ohio valley, and the organ
Of the nail, iron, steel, glass, pottery
hardware and manufacturing indus
tries of that region, as it's self-an-
nounced mission, essays a philosophic
defense of them. 1t says that 1.-The dis
tinguishing characteristic of the pres
ent age is the fallacy (meaning facility,
probably with which material wealth
is created and the consequent multi
plication of the objects composing it
beyond the demand for them" This
is due to the displacement of muscle
by machines, resulting in a production
exceeding consumption. The further
sumption. The decrease in the price
OF material wealth shows in the de-
crease in the price OF the use of that
representative of wealth, money In
terest has gone down from per cent in
England, per cent in New York and
from 8. to II in the West, to 8, and
per cent. Mills and factories that
paid from l per cent month to 10
per cent and more year have to be
| content with per cent or less
ut is not in human nature" con-
| tinues the philosopher of the trusts,
! for the owners OF capital to submit to
| this diminution of their income without
! struggling against it." First, they
sought new fields Of effort. Surplus
British capital overran Europe, then.
India, Egypt the Argentines and in
vaded America and South Africa But
these fields were soon exhausted. s'The
more recent expedient for arresting
the decrease in the remuneration paid
for the use of capital is in stopping the
competition between it's owners by
which the decrease has been acceler-
ated." This has been ACCOMPLISHED nv
consolidating many little capitals I'M
uef single management, substituting
Tor rivalry harmonious action, and for
i the struggle for existence an era of
peace He is kind enough to admit
lnat so far as the combination of
| dc TO
OF commodities above their natural
leVei, they may be justly said to be
injurious" but he finds the corrective
Tor this unwise use OF power in the
! operation Of natural forces unaided bv
| ieglsatlon. Where excessive gains are
thus made, rival producers spring I'D.
| and the war sought to be avoided RACES
with renewed violence" But "all the
eV1Qence goes to show that the bene
hts of combination lie in decreas sing tho
cost OF manufacture and distribution"
ana that, ION the average and in the
long rum commodities thus produced
are cheaper than when they were pro-
| duced by number Of little comneti-
tors, while 1.-The profits on them ara
not excessive"
Legislation to compel f:fhe dismem.
oerment OF capitalistic organizations
anu their return to a condition of mu-
tual antagonism" is vain. for the.sir-
pie reason that 'if such a condition
/ were profitable the constituent elements
OF the trust would voluntarily reas-
sumo that condition, and, if the trust
IS profitable, it's dissolution cannot be
accomplished by force and n,,nicb
ihent' The law can only operate on
| the tangible, and "a simple under
| standing between gentlemen is effec-
| tlVe' the experience of the sugar trust
showing how "a combination of cor
! porationS declared to be unlawful ca,,
| De replaced by a single huge organi-
| Zatlon which is safe from legal attack"
The whole trouble, if trouble there he
lies With brains. Money and machin-
cry are inert things" useless without
Drains. Unless we exile or kill their
poSsessors we cannot prevent their
owners from employing that ability for
their own benefit, if not in one way
then in another. Men who are on
lowed with the talent for creating and
amassing wealth are entitled
to the advantage it gives them" But
as they have to share their gains with
those who assist them, and as wealth
producing entails wealth distributing
their creation should be fostered
ratner than repressed" We commend
this new philosophy Of industry to the
consideration, for his consolation IF
that numerous individual who seems to
have no share in it or it's benefits the
FORGOTTEN Man