The citizen. (Frederick City, Md.) 1895-1923, 1897-01-29
Trusts.

not direct or roundabout felleIatlOn.
During the last campaign of Mr.. Cleve-
land, when the people rose up in their
strength against McKinleyism and its
necessary evils, the press of the coun-
try at large and the orators on the ros-
trum handled the history and record
of the trusts without gloves and show
ed them up in their sinister form to
the gaze of millions they were halter
bobbing aud defrauding. Now is the
ious by the coming reign of Mckinley,
to put Shakespeare's words to such a
base usage. He owes them something
for their generous aid and support of
him in the last memorable campaign,
and he stands pledged to give them
what they want in a high protective
tariff. The New York Times, in a re-
cent issue, had the following excellent
editorial ON "trusts," which we give
in full as curtailment would only serve
to weaken it, and the length is not
great:
The marked predominance in our ex-
ports of the products of the soil in
Guiding breadstuffs, provisions of all
kinds, petroleum, &C., shows that we
are still in an early stage of industrial
development. Our exports of manu-
facture are now increasing, however,
in ratio SO noticeable as to indicate that
we are entering upon the new stage.
In communication which we print
upon another page, Mr.. Charles r.
Flint makes an argument to show tina
we can meet the competition of the
cheap labor countries and extend the
sale of our manufactures in the mar
kets of The world only through the
economies in production that results
from superior organization and central
ization; and the growth of our export
trade in manufactures being coincident
with a rema kable tendency toward
the formation of trusts and conbina-
lions naturally gives some support to
the argument. Our manufacturing
business and our export trade have
been so hampered by dishonest and
baneful protective Tariffs that the
American people might consider even
trusts blessing if they proved capable
of undoing the evil work of Republican
custom laws i'll arresting and distort-
ing our natural development.
1t is somewhat too late, however, for
any profitable discussion of the theory
of trusts, or for any consideration OF
the abstract question whether the ten.
| dency towards Capitalization and mo
| nopoly ought 10 tie encouraged or be
| stopped by criminal statutes. The peo-
pie have come to under tand the ain $
and the nature of trusts pretty well,
II from treatises, but by observation
of their ndividu i behavior and the
eff cts thereof. They have learned
that one trust differs from another,
that while some seem to have made
prices lower 10 the consumer, Others
lave raised prices, and that the in
crease in such cases has been in pretty
accurate proportion to their co troll OF
tI,e market, in other rds, t. the de
gree of completeness of their monop-
oily.
of producing an article. If to that end
alone all the factories that produce the
article are consolidated into one the
public will not complain. 1t may be
no ubt it generally is-a public ben
eft to check reckless overproduction,
which is an evil, like reckless rate-rut-
ting 10y railroads, since it demoralizes
prices, and leads to bankruptcies, by
L, iah ,lNl;
gains throu b temporary low prices.
If improvement in the machinery and
in the processes reads to Improvements
III the article itself, that is good thing
too And if, by making good article
at low price, trusts places our manu-
features in foreign markets not now
OPP to them the fact will lie duly
placed TO their credit.
! Bul the real object of trusts is to Gre
ate monopolies and get monopoly
prices. That ornamental truth must
always emerge from the ultimate anal
ysis. The moderation or immodera-
! ton with which they pursue this OBJ
ject is roughly the measure of the pub
lie resentment against them. If in
putting itself in position of control, a
trust ruins ant brushes out all compet-
itors; if it makes secret and unlawful
agreements with common carriers by
which it gets the advantage of rates not
enjoyed by its rivals and the public; if,
I instead of paying the higher wages its
profits Justify, it makes serfs of its
workmen; if it procures the enactment
of tariff laws that prohibit all competi-
ton from abroad and then puts up do
nestle prices to he top notch, while
quoting much lower prices "tor expo t
only" if its managers regard the Stock
Exchange end of their business as the
principal end, and, if, in order to shut
out manageable legislative inquiries
into the subject of trusts, they insti-
tute safe and spurious investig ton
on motion of their own friends at Alb
we mean in the Legislature where ver
it may be; and if, in organizing, they
have found it eXpedient to water their
stock 200 or 300 per cent. beyond the
actual value of the properties repre-
sented, then to fill thtir pockets with
the treasures of this world, the public
refuses to belle re that the impelling
motive of The founders of the trust was
the love of their feilow-man aud a de.
sir to Sc him get on.
There are some bad trusts, and some
that do not seem to be bad. The
worst are those that carry on their eX-
tortionate business under the favor of
laws dictated by themselves in the
room of the Ways and Means Commit
tee.
Pennsylvania Railroad Company