Omaha daily bee., 1898-05-08
COLOSSAL TRUST.
The Greatest Industrial Combination
Yet Organised.

The Greatest Industrial Combination
Yet Organised.
Philadelphia Ledger
1t Is announced with every indication of
authority that new trust is about to be
created, which shall minimize all previous
efforts to stihe competition. restrain trade.
control prices and diminish the opportunities
Of the skilled wage Garner. The new peril
to industry and to the consumers of an artl-
Gle of manufacture, which has become a
necessity of life. will be known as the Cot
ton Thread trust the capitalization Of which
is stated to be $3.50, ,OOO, ,OOO representing a
larger business venture than that of any
previous trust however colossal, or Of any
corporation in the world, however imposing
in its resources. The announcement Of the
organization of a trust of this magnitude,
II the public mind of the country were in a
| normal condition, would be received with
no little concern, IL not trepdation, but
the tendency Of war has SO dwarfed all other
perils, national. social, industrial or other
wise that the imminence of new predatory
and voracous trust to which the public
| must pay tribute, through the enhanced cost
| of a necessary commodity and by the con-
! traction of the field of skilled labor by the
closing of factories, now competitive, will,
it is feared be regarded with languid inter-
|
public opinion, even in the din Of war, to
protest against conditions and the state OF
public law which enables such ravenous
conspiracies against the public interests and
| so peculiarly hostile to the rights OF labor
to be consummated, and to flourish like O
green bay tree.
| Our state governments have regulated to
some extent the charges OF monopollzing
public corporations. Contracts in restraint
of trade are void and against public policy
according to the old landmarks Of the law;
but unfortunately in too many of our states
these are Elusive legal theories. They are
rarely enforced with spirit, and are toe
often mere distractions. President Harri-
son in his last message declared that trusts
were in the nature of conspiracies, anc
should be made the subject OF prohibitorI
llegislation There are in the United States
not far from $50 trusts" or oppressive
lmonopolies. The most of them are fosteret
by the present tariff law, and would dis
solve at once were the excessive favoritisn
afforded them withdrawn. A cursory glance
at the list of trusts now organized in the
United States will show the reader how
firmly we are held in the ever Tightening
coils of this octopus. Such every day com
modities as oatmeal, cotton oil, glue, sugar
ltacks, matches. salt. linseed oil. starch, wal
paper, rope, tissue paper, have become th'
subject of more or less onerou
monopolistic manipulation under TIT
forms of law. The trust" list Is eve
} growing, and the annual dividends dis
Itributed by many Of the trust combinations
reach imposing figures. At the head OF tn
rapacious phalanx stands the Standard vi
company, which declared a dividend OF q
per cent on its common stock In 1887. !
is said that the new cotton thread trust will
stifie competition quite as effectually as tn
Standard Oil company has done. All tn
existing thread factories in the country saw
those engaged in the manufacture of the bes
grade (six x-cord thread) are to be closed
except the Willimantic concern. 1t Will b
the sole seat Of the industry in this country
and the factories there will be operated Il
| connection with the Coates works at Glas
cow. which will constitute the thread max
, ing center in Europe. The proposed, an
probably consummated, trust will. therefore
practically control the worlds trade in Ger
tain grades Of thread.
: gigantic monopolistic combination lik
this so far as this country Is involved, ha
been made possible very largely by the heav
lduties imposed upon imports OF cotto
> thread and articles of manufacture in whic
e cotton thread enters. This legislation ha
S invited the powerful foreign cotton threa
a interests to transfer the seat OF their indus
y try to this country. The new trust involve
the closure of thread factories in Massachu
setts, Connecticut, New Jersey and Pennsy
II vania, and perhaps in other states. The car
s ital of the closed concerns may enter III
trust, but the skilled labor in these distar
centers of thread manufacture cannot be {
!. readily transferred to Willimantic. Muc
" OF 1t would find no employment there II
8 were transferred. Capital can take care
e itself in these changes, but labor canno
z The protection of labor Is the pretext II
d excessive tariff legislation speciously d.
" signed to shut out foreign competition ar
: preserve the "home market" for the Ame
lean toiler. Under the existing duties
u many instances the protection of labor
nothing more than a deceptive phras
Tariff schedules which foster trusts that col
II troll the output and price Of the necessari'
g and common conveniences OF life and th
throw industry out of employment, to fet
! the voraciousness Of plundering combine
q tions of American and foreign capital. a.
If In no sense protective" OF anything sa'