The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1897-03-04

Some interesting facts relating TO the
spersEtion OF some of the great so-called
nouopolies Of the country have been
brought out lately by the committee OF
the senate engaged in examining into
she affairs Of the sugar trust In the
nehneries the committee also delved
into some other aggregations OF capital.
The testimony e4icited by these outside
inquiries was very much like that given
by the sugar people. Among Others ex-
amined was Charles W. Flint. one OF
the Representatives OF the rubber trust
Mr. Flint was asked why. with the
mills already on the trusts hands which
Il could not utilize TO more tnsn 80 per
cent OF their capacity. II acquired addi-
tioDal mills at cost OF $4,000. 000 His
answer was that the managers OF the
company did so with the idea that a
larger Capitalization OF the business of
manufacturing and larger economy in
the cost Of production was possible. In
reap the benefits that came from the
concentration OF capital. He also ex-
planned to the committee that there is
sften a difference between the value
Of a eompany's property and the
amount OF Its actual stock. instancing. !
as an illustration, the case OF the great I
Chemical Bank Of New York City. /
whose shares sell for over forty times |
their original value Mr. Flint is said 1
TO have given the committee a great .
deal of information about his business.
but Z was evidently not always Of a
kind the committee seemed 10 want
OF special interest was his testimony
IN relation TO the effect Of large COM
hinations upon this country's export
trade. In times Of depression such as
We have been having. he said. the ex-
port trade has taken large amount
sf sVOds, so that the company has been
able to keep its factories running. II
1t had not been for this extra market
50 produced, it would have had to close
them. The export business has been
tremendously increased-in fact. IL has
BEEN made possible only by these great '
manufacturing organizations. They .
have been able TO compete with the -,
pauper labor Of the densely populated
countries Of Europe With the utillza-
don Of labor-savng machinery articles +,
have been produced as cheapiy as they r
eOuid be produced in these other coun-
tries But with the utilization Of la
bor-saving machinery there has been no .,
reduction in the number Of laborers EN-
ptnyed- Altogether, the publication of ,
tie testimony taken before the COM I
mtee will give very different i'm q
preston to the general reader, who has.
perhaps, seen only one side OF the ques-
zion, as to the effects Of these great 3,
combinations Of trade and capital. The =,
sheapening has not been in the reduc- .
tion Of wages, but in the greater ca
pacity Of production. American wage
earners really owe their high rate Of Il
wages largely 10 the existence of these ~
superior organizations represented by a
centralized capital. It is wholly through Y
the large production due TO the com G
5tnation Of capital that many lines Of
manufacture have been able to provide s-
employment and pay American work =,
mgmen American wages, and at the n
same time compete with the cheap
labor Of Japan and Asia and the coun-
tries Of Europe. Labor saving machin- !
cry does the drudgery in this country. n
and 1t is the pauper laborer who does =
the drudgery for European and Aslatc : :
This is view Of the :
question which we commend :,
to the labor agftatOr and professional n
politician.