The herald., 1898-11-24

by so much increases the flow of cap
ital to the sugar industry and b!
the same ratio increases the rapidity of tht
appearance of the trust" in sugar. With
oil and sugar" both "trustitied,' the
tendency for trust to form in the next in
dustry, say, paper is doubled, and with
each industry added to the category Of
trusts by so much is the tendency ol
other industries intensified to fall into tn.
same classification.
Capital, which is simply the unconsumed
products OF labor, is constantly tending to
increase, and the accumulating surplus is
seeking profitable reinvestment. Where can
it find an outlet!
The trust does not in reality prevent its
investment in the industry controlled by
the trust as the trust" itself is but the
outward and visible sign that the industry
is already fully supplied with capital.
there were no trusts the industry woulC
be in the throes of financial dissolution
owing to the over-production, and capita
would have no attraction to flow into it
any way 1t can, then, be seen that tht
trust is not only the sign of the point be
ing reached when there is no longer an op
portunity for the investment of capital but
it is also paradoXically the sign that there
is a larger production of capital to be in
vested than ever before in the worlds his
tory.
1t is like building levees around the Mis-
sissippi valley towns. The towns must be
protected against the overflow, yet each new
levee increases the danger of overflow foi
tho ota,o tyv opI ;~l,o
ard higher levee. Finally, the
flood continuing to rise, a gen
eral overflow and destruction take:
place. The trust" is simply a levec
around a particular industry, protecting il
against the general flood of capital, but in
no way preventing the general rise of the
flood, and in fact acceierating it. The
time must come when there will be gen
eral overflow of all these temporary safe.
guards ard a destruction of all industry by
the rising flood of capital unless some meth
cd Of relief is arranged. That time is not
far distant. Not onfyiis the destruction of
the capitalist threatened by present condi.
tions, but the laborer as well.
The trust is temporary haven of ref
uge for the capitalist, but the aborer Is
NItHout tlic gates. lie docs not even get
temporary relief, but, on the contrary. j.
continually placed in greater and greater
peril of unemployment by the formation
OF each trust The very idea of the
trust is the prevention of more capital
finding employment, which, translated.
means the prevention of employment to la
Dor.
The trust is not only the danger sig
nal to the capitalist, but also to the laborer
1t Is the hand of death laid on the whole
competitive system of industry.
There Is but one course to pursue. and
that is the abandonment of doomed sys-
TEN and the adoption of the only possible
substltute-the cooperative system. The
only method of finding an outlet for the
tremendously increased productiveness of
labor, owing to improved machinery. is to
turn it back over to the laborcrs themselves.
his cannot be done under a wage system.
which keeps wages at a minimum by rea-
son OF competition of the laborers Let
wages be paid upon the basis of its produc-
tlveness and that instant You solve the prob
lem Of over-production To establish the
cooperative system it is simply necessary
to turn over capital from private to public
ownership. Let the trusts be owned
and managed by the state aJthe Representa-
tive OF the public Let the product of cap
ltal be paid out in wages, the rate of which
shall be determined by the production.
IT GAYTOPD WI CJJTpL,