The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-29
Ahouf Comnetftian.

To the Editor OF the indianapolis Journal:
It is not a hard thing to imagine a train
of disastrous things under competition to a
good many people who venture in business
without capacity, capital or ordinary bust
ness sense. 1t Is worse than idle to apply
a rule and attempt to include exceptions
under It also and hope for everything lovely
for all classes. There are drawbacks under
competition that are not due to competition,
but rather to the fact OF incapacity on the
one hand and unconscionable greed on the
other. Education will never wholly cure the
one nor the gospel eradicate the other. and
so exceptions under good rules will always
prevail. How trade is TO proceed under
laws Of supply and demand without free
competition In production to afford supply
has never been satisfactorily pointed out.
One puts his capital into manufacturing
bar ircn, and 1t proves so profitable with
out competition that another and another
does the same thing until the supply fully
meets demand, and so of other industries,
and then profits are about level in all of
of productive industry according as they
desire, morally under the rule named by
Spencer of the right of one limited only by
the rights of all. Many make mistakes,
others take undue advantage, while still
others may be dishonest and law is inef-
fective to reach them. But none of these
Ah5 a Oioi 6tdblC " COllDClltlOH OE
make Il any less wise.
Competition in production with a country
difrering from our own. in political, social
and material conditions is one question, and
competition between States having like or
ganic conditions Is another. We have recog-
nized this difference from Hamilton to Nc
Kipley, with rare exceptions. and are likely
10 continue doing so, unless trusts and COM
binations set aside the natural order of in
dustry and trade. and for lack of adequate
law make it necessary TO restore II in some
measure by destroying them with the worlds
competition.
i call TO mind an instance In Indiana when
a discovery in the process of plow manu-
featuring enabled the inventor, under the
protection of our patent laws. TO embarrass
and, for a time, destroy competition in that
industry, closing factories here and there.
But IL is this reward TO genius that has
caused the country to excel the world In its
industry. and. in the end. all classes have
shared the benefits, and patent laws are
still deemed wise. Ii required but a few
years for the plow industry to .readjust it
self under similar inventive genius, and fair
competition was restored and goes on. Com
petition has. no doubt, been aggravated by
injudicious enterprise, but IT was the fault
of injudicious enterprise and not competi-
ton. A bonus is sometimes offered to in
duce the building of factories which, oper-
ated under ncompetent management, finally
fail and throw men out of employment and
lose others their investments OF capital. The
fault was with bad judgment In the invest
ment. or management. or both. and not with
competition.
The serious danger TO free competition
to-day is the tendency to trusts and COM
binations, having for their object the de-
struction of the natural order under compe-
tition and the building up Of fortunes for
the rev at the expense of the many. AS al
ready stated. II statute laws and courts can
not reach the evil-but IL is believed that
they can-another way will be found to do
1t which. while leveling productive industry.
may bring a recurrence of temporary dis
aster 10 trade. but II will prove a s~alutary
object lesson to all and finally restore the
natural order. J. b. c..
Indianapolis. Nav q