The times. [volume] (Richmond, Va.) 1890-1903, 1899-02-17

One Of the antitrust newspapers has
been commencing Mr.. Andrew Carnegie
for saying the other day in reply TO
question as to whether or not the Car
negie Steel Company was going to Join
the trust that his company knew how
to make and sell steel, but nothing about
securities, preferred stocks and bonds"
Mr. Carnegie is commended by our con-
temporary as the great iron king of this
country without peer. who. while ac-
cumulating great riches for himself, has
given profitable employment TO tens Of
thousands Of others and has immense
~ developed the resources Of this coun-
try.
We have nothing to say against Mr..
Carnegie. lie is a very bright man. and
he regards his vast wealth as a. sacred
trust, but the complaints that are made
against the trusts apply as surely 10 the
Carnegie Steel Company as to the Stand
ard oil Company. The principal COM
plant is that the business Of this coun-
try IS gradually being absorbed 10y giant
corporations which crowd the little men
out and prevent the individual mechanic
from setting up a shop for himself. The
Carnegie Steel Company is in no sense a
trust, and Mr.. Carnegie gives assurance
that il will not enter into any combina-
ton. but his company just as surely
crowds the little men out Of the steel
making business and prevents the ind-
vidual mechanic from setting up for him
self as If it did belong to a combination.
1t has been our endeavor in the in
terest Of truth to show, and we believe
that we have shown, that much OF this
cry against trusts is purely demagogic.
1t may be a bad thing for the country
that giant corporations have come into
existence, but we say that, generally
speaking, the so-called trusts are no
worse, no more oppressive than other
giant corporations which do not belong
to a trust. We have endeav0red TO
show. and we believe that we have
shown. that the trusts do not. as al
legged, put up the price Of products and
extortion upon the people, but on the
contrary have given TO the people the
best article at the lowest price that the
world has ever known.
We do not claim that the trusts are
operated by phianthropists who do this
in the interest of the people. but we
contend that it is to the interest Of the
trusts to make its goods popular, and
that it can make more money by selling
a large quantity Of goods at a small
profit than by selling a small quantity
at a large profit. The trust cannot choke
of competition and 1t cannot buy off
competition without spending a great
deal of money. 1t is much cheaper TO
prevent competition by making the mar
gin Of profit so small as to discourage
others from entering into that branch Of
business. and by making the goods which
the trust manufactures so popular that
the people are not disposed TO change
their brand. We all know how many
Efforts have been made to whip what Is
known as the Tobacco Trust by appeal
ing TO the sentiment Of the people.
Antitrust" cigarettes have been time
and again put upon the market but
consumers did not take them. and we
must infer that the reason was that they
preferred the brand of cigarettes which
they had been smoking. The trust peo-
ple are shrewd enough to know that men
do not make their purchases for the
sake Of sentiment; but that they buy
the article that best pleases them In
quality and price.