The daily sentinel., 1899-11-08
TRUST SYSTEM EVILS.
Individual Energy and Enter
prise Stifed.
oHEAPENs COST OF PRODUCTION.

But Does No. Cheaper the Prices the Pub
lio Has to Pay-They Arc tho Result of
Congestion of Idle Money - Remedy Il
BImetaiIism and Moro Money.
The whole system of trusts which has
fastened itself on the public is the d.
rect outgrowth of the contraction caused
by the gold standard, the contraction
Of money, the contraction of prices, val
ues and business, says the Atlanta Con-
stitution. How many trusts were to be
found in the country 20 years ago7
There was plenty of money in circula-
ton. 1t was what the gold men call
"unsound" currency. 1t was depreciat-
I'd as compared with gold, but there
was plenty of it, and the people had NOT
the smallest need for gold. The "un-
sound" currency performed all the func.
tions Of the souudest money. 1t held
out the strongest and most substantial
invitations to individual energy and en-.
terprise, so that those who haye since
gone into the profitable business Of
forming trusts had no field for the dis.
play Of their genius.
But since the demonetization Of sill
yer, and especially since Cleveland'A
violation of the law in declaring the
obligations of the government payable
in gold, the contraction in business and
In all forms of industrial enterprise has
driven individuals and men with small
capital into bankruptcy, and has opened
for the trusts q wide and an ever widen.
ing field.
There is no possible way to dispose
Of the trusts so long as business, prices,
values and currency are tied to the gold
standard. Under the operations Of our
present currency system individual en-
ergy and enterprise have no field what
ever. Everything is pushed to the wall
except combinations Of capital.
The attacks of many Of the newspa-
pers of the country-especially the New
York World-are wholly beside the
mark. They are as futile ~ they are
furious. In the nature Of things there
is no cure for the trust evils until we
remedy the cause that breeds them. So
ard, so long must all business, prices and
values continue to contract. And by the
time this contraction reaches the level
to which it is tending the trusts and
monopolies will have charge Of every
enterprise and scheme which, under an
adequate currency system, was formerly
carried out by individual energy.
The trust system cheapens the cost OF
production, but it does not cheaper the
prices the public have to pay. The
oheapening process that has been going
on is due entirely to the increasing val
ne of gold as compared with all other
commodities and all other species OF
property. Trusts are not above human
nature, and they have taken ana arc
taking advantage of their power to
squeeze the public. They are an evil,
and they constitute one of the greatest
dangers the people are called upon to
face, but they are the inevitable result
Of the gold standard, and they cannot
be controlled until the great trust OF
trusts-the international gold syndicate
is rendered powerless for evil. The
remedy is in bimetallism and the in
crease Of our money supply.
The newspaper that upholds tho gold
standard while fighting trusts is simply
The way to upset the trusts is to give
CQ6 peOplo IuOIo IuOley W W pu5Auoso
on and money of kind that does not
absorb all values, but leayes q fair pro-
portion in the possession Of the pro-
ducers. The way to restore competition
in business, in spite Of the trusts, is to
restore prosperity. This can be done by
placing our currency system on tho
basis of bimetallism, which means
wholesome addition Of hard money to the
volume of circulation; which means
higher prices, higher wages, expanding
business and restoration Of all forms
of industrial development.
Trusts are the result Of hard times.
and hard times are the result of a scar
city Of money, or, what is worse, the
congestion of idle money in quarters
where 1t is utterly beyond the means of
the people to command their due share
of it as the result Of their labor. When
there is plenty Of money In circulation.
modest investments in business enter
prises have a chance against the trusts
and com mbinations, for when q plentiful
supply Of capital is available trust will
antagonize trust and the whole system
fall utterly to pieces
Under the present system Of currency
contraction, low wages and hard times
small and independent business enter
prises have no chance against the tend
ency to consolidation among others en-
paped in the samo line of business