The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-03-01
THE UTILITY OF COMPETITION.
The newspaper clamor against a~ggrcgntions o

aI,o,l rosults In drawing attention to the whole
infect OF the utility Of competition In business
oe,irs, and the evil Of attempting 10 suppress II.
ont of the mass OF sophistry, demagogy, and
lie. with which the present discussion has been
,rcumbcrcd. some truth will be elected, and. rs
tho ~Igitation for free silver coinage has dissent
mated among our people much
which they would otherwise never have OBJ
taiped. 40 this war upon tho so-callod trusts"
uIl make them amlliar with facts and with the
v,rtinps of economic laws Of which they have
mover before had occasion to become Instructed.
Tho error that the cost TO tho consumer Of any
manufactured article can, by agreement, be por.
manentiy increased above that which results
from the working OF tho law OF supply and de-
mand was clearly exposed by more :hnn one OF
tbe witnesses examined by the legislative inves-
tignting committee. and their testimony was
most OPPORTUNITY and most conclusivcly corro'
boratcd by the reduction in the price Of steel
rails which took place at the very time they
were giving It. Temporarily, indeed, prices can
be kept up by restricting production. but in the
end this barrier has to give way. ms II did In the
case Of steel rails, and let them down to their
natural Lowell. That high prices check consump-
ton and low prices stimulate 1t has come to DO
an admitted axiom. and where the profit upon
any article is made too tempting. no agreement
OF the producers already in the field can prevent
the in INVASION Of II BY rivals. The success OF tho
great Industrial combinations which are nssailed
as oppressive TO the public has been obtained by
policy the reverse OF oppression. Profits have
been kept down below the point at which they
would he extortionate, not, indeed. from moral
or charitable motives. but either from reduced
consumption or from the dread OF provoking COM
petition. Where they exceed this limit the bur
den OF maintaining them becomes unbearaole.
The stronger members shake of tho weaker, and
rely upon their own advantages OF position and
their superior facilities for doing business 10
carry them through the emergency. They cx-
pect by an increased output and by the more
general employment OF their works and their
men to make up for decreased prices.
The combinations OF capital, therefore, which
are assailed as suppressing competition really
only shift It's field OF action. From being an
irregular guerrilla warfare between a multitude
OF nndisciplincd individuals, IL becomes u bal
ancing OF the powers OF organized armies. How
much civilization and humanity have gained by
the consolidation Of tribes and small peoples
into great nations We see In the history OF
Europe. Wars there are far less frequent and
less destructive now than they wcro before the
absorption by great States OF the lesser ones.
The few great powers respect one another, and
are slow either to give offence to tho others or
to take Il from them. They feel their RESPONSE
biity as they feel their strength, and maintain
peace until war becomes inevitable. Great IN
dustrial combinations likewise depend Tor their
success upon avoiding the provocauon OF rivais'
In tho view OF some sentimcntalists this limi-
tation OF the destructivenees OF competition Is 10
be deplored, for the very reason hat IL dinin-
ishes the number OF those who are permitted TO
participate in It Thus, the great Industrial So
called trusts" are declared to DO detrimental
to society because they lead to the retiring from
business OF small producers and dealers. Presi-
dent Cleveland. In his message OF last december.
gave expression 10 THIS doctrine ana called Tor
legislation TO enforce IL ne declared that the
tendency OF trusts ID 70 crush out ihdi'io'
ual independence and 70 hinder or prevent the
free use OF human faculties ana the tull develop
ment OF human character. through them me
farmer. the artisan, ana tMe sndH trader Is
In danger OF dislodsment from the proud posi-.
tion OF being his own master, watchfui OF al
that touches ms country prosperity IN whcn
ne mas an INDIVIDUAL iot' ana Interested " III
that anects the advantages OF ouaihess OF whieh
he Is a factor 10 DO rciesated 70 Inc ie'ei OF a
MeEe appurtohanoo great niacaine' win
ntuo Hee VIII, win nouu'y ou' lnA'oi passive
ooediehce' ana win n.ee nope OF opportunity
otfls'ng IN inc scAieoi reSpohSioio M heipiui
e'uhenship' this iuseAn ~ pfooeeaeu
VI M nryahn "ouiu ~ vra'ot1
tony 70 10 Aaalessoo ton meeunsoi hansa'
pro'es oneo IN isnorahoooi nAS
y IL ~ - n~s
nov un huusua uust .neAsens " us
ioIso II Alme =" present
huepchuch' position ~ unpossiors " mug
me thelea i some W Ains IN ns country.
out Ley aFe very fos' anu eohooa-ohso VI
eAp''Ai q asricuiturei purposes u q . 'et uh-
.ho"n. Inc mai'iauAi aruSah sunerS' NOT
non ~ eonpetson in,so pfouueois' ou'
nom ma. u machinery, which, more thAh a
i' aso' oesan = ono
SINAI oea.o nopeio"o' unpt'hlAo'o, NM NJ -
oonpon'a'oc . iafsol wages ~ eoeAaior em
y"e an W 10 emAn " III
" e = 'Nan '" ~ sieas uoA'1i'
y. y soous !" no
DC" "SA eA."poi. Nv
49, "ouu ny .'ian
-. - N ~ . 80
q, -, -. 'vses nm' u ~
.o e.pen,1 y. .ho .om,