Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1899-02-09
IT CREATES TRUSTS.
the Monopo1y-Creafing IF
fects of Protection.


prosperity during the year lately
closed. cue, of course, TO the magic OF
| the advance agent" and his followers
| is seen in the activity of the New Jer-
| sey trust mill. This is an evidence to
which the organs of the administration
do not direct attention very often or
with expressions of pride and exulta-
ton They indulge these feelings, OF
course, but they prefer not to be very
destinations about il owing to the pre-
vailing prejudice against combinations
in restraint of trade.
The fact has found its way into print
that OF the great combines organized
as corporations under the free and easy
laws of New Jersey 16 have an aggre-
gate nominal capital of S616, 100 ,o00. or
an average of over SIS, SOC, 900 each. The
scope OF these aggregations to stifie
competition is plainly indicated by
their national" American" and scon-
tinental" names. They mean to be lit
orally 1.-The whole thing" in their re-
spective fields. The smallest capitali-
cation in the LISTS, 900, 00O-is that of
the United Brewers company, which
is too modest to pretend to be CONT
mental or even national.
These combines of 1898 find them
selves in very select circle OF older
ones which have the honor and pleas
ure of skinning the public under the
laws of New Jersey. Sixteen of the
earlier members of this circle have an
aggregate capital of S5s2, 445, goo, or an
average of more than ST., 900 900 each.
The aggregate capital of 30 combines
is 81 ,20s. 4oo. 900. The interesting state
ment is made that the stocks of com
bine corporations organized under New
Jersey law TO the amount of more than
s., 200. 600, 900 does not represent dol
lar of investment in New Jersey. This
shows how obliging the state is in facil-
itating the organization OF conspiracies
against eoIsRumers. It should be stat
ed, however, that the state is not al
together unselfish in this matter, for
it is collecting tax on about So, 270, 0o0,-
600 of stock representing capital OK
which the great bulk is invested outside
of the state. During 1898 the state de-
rived a revenue of So 1859, 19s from cor
poration fees and taxes, or about
enough to pay the cost of the state
government. 1t must be admitted that
in this case the "foreigner"-that is,
somebody outside Of New Jersey-pays
the tax.
But il appears that the legislature of
that state has under consideration a
measure which may drive the business
OF manufacturing corporations into
some other state. A bill has been in
troduced changing the tax from $40 a
year fer each million of capital stock
of any corporation over $1,000, 600 TO
$500 for each million over $4,000, 900, or
nearly six and half times as much.
The Jersey legislators may think
they can collect the additional tax for
the reason that the trusts cannot re-
organize under the laws of any other
state without mourning disadvantages
from which they would suffer more
than they would by paying the adfi-
tionai tax. But some other state may
enter the field with an accommodating
law and a much lower tax and compete
for the business of manufacturing
trusts with good show of success.
But however that may be, we may ex-
thrive as long as motive to their or
ganization is supplied by our tariff
laws. Of the 30 great combines above
referred to all but five are protected by
duties ranging from 30 per cent up
ward. and all but two are protected by
cur tariff or other laws to some extent
A republican congress has refused TO
deprive of protection in any degree the
industries which combine to stifie COM
petition and exact from the American
the last cent allowed by the tariff, while
they are selling eagerly in foreign mar
kets, where they have no protection, at
prices determined by competition
against the whole world. So long as the
party remains in power
nothing viii be done to harm the trusts.
Any steps taken against them will be
for popular effect only and so directed
that no trust will be hurt.-Chicago
Chronicle.