New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-08-10
WHAT TO DO WITH TRUSTS"

To those who prefer to denounce Industrial
corporations, good or bad. and to avoid knowing
ANYTHING about them lest the edge of invectlve
should be bunted this season OF hating IN the
MULTIPLICATION Of them, and Of waiting TO see
how they will work, Is merely vexatious. Those
who are studying the problem with genuine de-
sire for the public good, however, are not dis
pleased at all by evidence that many of the new
corporations are doing better than was generally
exnected not only better for themselves and
their stockholders, but In costly preparations 10
serve the public more cheaply. 1t is something
worth noticing that all of them are expecting
new and sharp competition in the future, and
are making great effort to meet it. Not one
branch has vet been observed In which there
appears a disposition to rely upon anything ex-
cept superior economy and excellence OF work
for ultimate success. These corporations have
been formed by many of the most hardheaded
and practical business men In this country, and
It might be expected that they would not in
dulge in any foolish Illusions about escaping
competition. The new works which are going
I'D in many quarters, designed to contest the
field with these companies, excite no surprise,
whether welcome or not
Being intensely practical people the owners
of these concerns are not trying to sell things
as cheaply as they can at time when extraor-
binary demands and scarcity Of material and
labor are pushing all prices upward. II the
quantities required far exceed the capacity or
all works, so that all can get good profits and
plenty to do, II is held good time to put away
profits against more trying times hereafter,
when the strength Of competitors will be tested.
But the closest students OF Industrial move
ments do not discover general disposition on
the part of new companies to eXtort prices out
OF line with those obtained for similar products
with which great corporations have little or
nothing to do. 1t has been shown, for instance,
that prices OF Bessemer pig, material which
no combination can control, and OF the best
steel plates for heavy work. one Of the hnished
products at the other extreme, have been adj
vanced more than, products which are supposed
to be largely under the control Of corporations.
In other industries similar facts are observed.
and prices seem to depend more upon the rela-
tive magnitude or urgency of demand than upon
the disposition Of any corporation. That Is en-
tirely natural while extraordinary demands are
lifting prices In all lines, but the test will come
when the demand slackens
1t was evidence Of some practical shrewdness
construction of industries when a year or more
of general prosperity was expected so that new
enterprises could get good start. Probably In
every instance the argum INT which had especial
weight In overcoming reluctance of previous
owners was that the destructive influence Of ex-
cessIve competition during the next season Of
severe depression could best be avoided by Sc
curing the highest development In methods and
economies Of production and distribution during
a wear OF prosperity What use will be made
of the power thus gained, whether to extort
from the public more than is reasonable here
after. or to render competition harmless when
bad times come again. depends upon the charac-
ter of the men directing each branch, and can
not vet be predicted. Those who are certain
that everything bad will be done that can be
have some time yet, all may hope, In which pre-
vailing prosperity Will leave their convictions
undisturbed.
II Is n qualification for some OF them to say
that both parties will make war on trusts, and
neither. will do anything" People often Judge
the motives and characters Of others by their
own. The Republican party, its best friends
sincerely hope will make no promise which 1t
does not intend to keep and Will take pains to
know something about the business before it
undertakes any line Of action. When the coun-
try is in position to know what trusts are
doing harm, and what harm, and how It can be
remedled, there will be more sense In resolu-
tons on the subject than there is now.