The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-01-12
THE1R INHERENT WEAKNESS.
Trusts Bad for Business as Well as AEAinst
Public Policy.

Trusts BAYLOR business as NeAA - f'-AAiAAS
Public Policy.
Boston Herald: When Journal like
the Iron Age, addressing a special con-
atItuency of Industrial producers, lifts
up It's protest against trustsisit may be
assumed that the question OF -combina-
ton In restraint OF trade has passed
beyond the stage OF merely popular
condemnation. After prefaclng that
some years OF the most savage strug-
gle for business has produced the con-
VtctlOn that a reasonable understand
ing among producers was tho best way
out OF the losses from which they were
suffering, this organ OF the iron and
steel trade remarks: THE experience,
after the many attempts 'at1'gent!e-
mems agreements and simple COM
bInations, IS that two classes of pro-
ducers are the chief gamers, viz: the
inherently weak manufacturers ana
the unscrupulou5 and trocRy concerns.
The honest and strong manufacturers
are the sufferers. The result Is that
practically every one Of the organtza-
tons OF this character carries in II at
the outset the germs OF It's dissolution"
II seems that the effort to tie up the
wicked has led to more and more strln-
gent systems. and that II has created
a concentration az power In some conf
bnatlOns which Is driving them 10
point where they do general harm.
II will be perceived that the reason
Ing OF the practical man about trusts
leads him to precisely the same point
as the judicial mind has insisted on for
Generations-they infringe on the
rights OF the people; they are contrary
Ia public policy. The Iron Age de-
clares that the managers OF the Nall
AssOciatlon-now happily defunct-can
take TO themselves the credit OF having
developed stronqer sentiment against
combinations than any single agency.
ordinary excitement. with the speakers
and newspapers Of one party declaim-
ing vehemently against trusts and
combinations, and eRdeaveFing to ar
ray the masses against the existing
Institutions, by appeals 10 thelr. pre-
iudices, the Nail Association lSindly
supplied the wicked example by hold
ng the price OF nails steadily at rate
far out OF all proportion to the prices
" other iron and steel prOducrs.% it
must be admitted that the nails. as an
Illustration. at say 50 20 a key In Chi
Cag0. everybody could comprehend the
effect Of combination on manufacture
cd products. because everybody was
familiar with nails. and everybody felt
the burden OF the high price fixed and
maintained" Il might be added that II
every body was ns familiar with steel
rails. the price fixed By the combine OF
SOS n ton would be equally felt a. n
burden on the community az large.
II Is, however, creditable to a journal
occupying the position toward such
questions Of the Iron Age TO have dts
4 covered that there IS very determine
cd sentiment amonu the people nj large
against combinations to control prices
OF C0nmOdilC7 IL sees that business
men are BEGINNING % appreciate the
fact That they are allowing n storm to
gather wnicn may not discriminate be-
tween the Just aud the unjust, and
therein Il IS wiser than most OF the
journals that speak Off special trade In
tcreSts. The danger that lies In walt
Tor all the trusts IS apty Indicated by
the manager Of the Nail Association,
who. In tracing the causes OF rs dlsso-
luton. says that tho nail manufactur-
crs Of the United States have facilities
Tor production, which, when employed
fulI time. viii turn out about rour
times as many nails n the country re-
puircs IN short there VIII be a sharper
competition than n no combination mad
been formed 10 check n, and the crust
system mus; bear the odium OF putting
premium on overproducti0n, with ali
It's attendant disturbances.