The times. [volume] (Richmond, Va.) 1890-1903, 1897-08-29

growth Of modern conditions. In the
main tney are benehCent IN their ten
dency, though necessarily some eFils have
developed IN connection with them 4-a
aim should b 20 limit and control tnese
evils as far as possible without lntrTlrl-
ing with the free movement cf those ~.
dustrial processes which rightly utli1eu
are capable OF yielding great aaVantase IS
20 mankind. We all know that just the
opposite policy has been pursued BY our
LEGISLATORS. Trusts and combinations have
been treated as being without any r.
deeming feature. and as having no eN-
cuse or justification. Indeed. the ols-o-
sition has been 10 regard them as cFimi-
nal In their intent and purpose, ana tIsIe-
fore 10 be repressed By law. As MT. cage
speaks as a member Of the Adminlstra-
ton. 70 IS assuring % md that MS re-
marks are pitched IN tinerent KEY ana
do not permit any such narrow or Aoef~i
construction.
We notice, too. that tho number OF thess
who are disposed 10 see ADVANTAGES IN
combinations OF the kind mentioned IS
on the increase. We baYe had on our
desk for some time very interesting
and meritori0us pamphlet entitled Ins
Pool and the 'TTust'-Their SIDE cf the
Case" written by William l. Royal. OF
Richmond Virginia Alr. koyalls paper
ab0unds IN facts ana Arguments which
must appeal 10 all thoughtful students OF
the subject The basis Of the thesis Is
LNAu4 IN MS Statement ina a4e Us "a -
the Trust" ana its kindred organizations
as products OF evolution destined g re-
strict competition within wholesome
bounds. He undertakes 70 ind ioun-
dalton FOR the Trust In the elementary
principles OF cur institutions and laws, 81
as 10 secure for them the sanction OF an
Intelligent public opinion and the protsc-
ton OF the Constitution Of the United
States In other words ne has written
with the PURPOSE OF showing, nEst, that
. "a. - la
elementary principles Of our laws, and,
second. that IL is under the sanction ana
protection OF the Constitution. which In
strument must De departed from IN es-
sencs and principle and overinroWn be-
fore the legislatures or the states can
pass any act that can have permanent
influence OF a preiudiCal character upon
such combinations.
Mr. Royal well says that what arc op-
probri0usly designated as trusts are
the results OF unDruled and destructive
competition made possible by the QfFel-
opmeni Of steam and electricity. Fr0auc-
ton having outrun consumption. manu-
features and dealers find themselves con-
frCntel by products onefed below the
cost o. slch products 10 them and hence
feel c0erced into uniting theif operations
80 order 10 prevent eNtefmllatlCl Ia all
axes % has been recognized 90 the elcmeE-
tary and natural night OF men 70 90 n
concert whatever any one might co Wnen
acting BY hlinseI, men nave always
agreed that the propriety or Improperly
Of an act never turn upon the number Of
persons engaged in performing u. but
mast turn upon the nature and character
OF The act ltself. ln au civilized societies
mercantile partnerships have existed ia
which different individuals have COM
bined their resources and their enerries
for Joint action. The question c1nse-
quently arose why this principle OF self
protection could rot be applied against
destructive cn.peution-why II ten men
could properly combine their resources
mercantile Partnerships could not equally
combine their resources 10 form a larger
mercantile partnership; and why they
should Let La Permitted Ia save them