The herald., 1898-11-25
The DEVELOPMENT Of Trusts

To the Editor Of the Los Angeles Herald:
The Los Angeles Times of recent date, un.
der the above head, says: "It is not neces-
sary to be demagogue or pessirnist to see
that these combinations of capital, to an
extent undreamed of, even ten years ago,
must, to put it mildly, work a complete rev.
oution in our present method of doing busi-
ness, as it would be folly to suppose that we
shall soon see the end of such combina.
tions."
The Times is quite right in saying it i
not necessary to be demagoguc or pcssi-
mist to see the evidence of the impending
revolution.
The Times is not demagogue or pessi.
mist--it is simply calamity howler."
epithet.
Why now complain that corporations are
fattening upon other corporations!
Corporations, great business enterprises,
have grown as the people fed them. 1t il
quite natural they should combine.
In union there is strength. In combine.
tion there is a lessening of the cost of pro-
.ducton and the expense of distribution.
Why be alarmed concerning system
which proposes TO make things and distrib.
ute them at less cost-,ess waste.
Have not the majority Of the people con.
demned as calamity how.ers those who at
tackled the great trusts and combines!
The people in 1896 turned down those who
sought to restrain the creation Of trusts, and
who attacked capitalism in its entrench.
ment-the gold standard.
This year in California they have con-
demned and relegated to private life, from
distinguished place, one who has devoted
his energies to- the matter of restraining cor
porations.
In 1896 they, by their ballots, declared in
favor of continuance of the protective tar.
iff system-a system which nurtures trusts,
The voice of the people is the voice of God.
1t is in obedience to law-economic neces.
sity-that trusts are born and do grow, un-
der the competitive system.
And the people have declared in favor Of
them. There is nothing gained now by re-.
pining. 1t is too late.
Those who thought that by legislation
they could prevent the organization Of ccm-
bines, and could deprive capital, under pres.
ent conditions OF it's power-of its power in
the halls of legislation, in the executive de.
partments, in the courts-wcr. mistaken.
In all times the great question of thu
masses of men the world over, is, how to
procure food, raiment and shelter with the
least effort.
Who shall say the aggregations of capital.
the trusts and combines are not enabling
the masses to secure those three essentials
at less cost than they have been supplied
for under sharp competition of the several
corporations or plants, now composing the
combine?
1t may be truthfully said that trusts
make it infinitely harder for every one to
assert his influence ON trade and that nons
under the trust system of doing business
need aspire to more than n subordinate posi-.
ton in life"
What is the use of complaining of the fact
that under the trust methods none need as.
pire? Under the sharp competition prior
TO the trust era, only ten per cent of those
who aspired realized their aspirations
succeeded.
If under the combines, men capable of
competing successfully, do not aspire to be
trades lords, there is compensation; there
will not for such be disappointment, wreck
age and suicide. The trust is the legitimate
offspring Of the majority party. 1t will get
on beautifully with the gold standard and
protection. w. +. SHEPHERD. I
Ventura, CAL, Nov. "a, 1898.