The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-09-30
TRUSTS AND YOUNG MEN.

The resignation of Carl W. Bildt Of
this city from the service of the Ameri-
can Steel & Wire company furnishes
food for reflection as regards the rela-
ton between the great industrial trusts
of today and the young man. Only 4
little while ago The Spy called ayten-
ton in its news columns to other young
men who had severed their business
connection with that great combination,
and although they had not made the
direct statement themselves, it was the
commonly accepted belief that they had
withdrawn because they had felt that
their talents and ability as experts,
gained by close study and years of ex-
perience, were not receiving the recog-
milton they deserved. But there must
have been a still greater consideration
in their minds, in that the longer they
renamed and the greater the growth
of the combine, their opportunities for
entering into business for themselves
We're materially lessened. All this
brings up one of the most important
questions that the business world has
to face. Has the young man of today
any chance, under the present tenden-
cies toward industrial combination?
Ex-senator Washburn of Minnesota
has answered the question with tren-
chant and incisive vigor. He says
When was young mani am now
6S-I had the world before me- and
there was absolutely a fair field for me
Take all of our most successful pusi-
ness men OF today and their experiences
were like mine. They entered the race
without handicap, and their grit and
capacity won. Now this building up Of
trusts puts a stop to fair and e1uaI
opportunities for the young men of to-
az the young man just out of COL
ge has no opening, as rule; he can
not Eegln business on his own account
against organized capital, and he must
join the procession. He must content
himself with being a mere clerk, and
the chances are that he will never get
any farther, because there are so many
in his class"
1t Is very difficult matter to escape
the force of this argument. The form
ulation OF powerful industrial comain-
ations for the purpose of controlling the
production of any commodity must in
evitably tend to crowd out the small
producer and discourage individual in
itiative and enterprise This means
that the young man who is looking for
an opportunity to engage in business
is shut out from all lines Of legitimate
industrial endeavor, unless he can CON
troll enough capital to become part of
a great industrial organization. No
better evidence of this is needed than
these recent designations of certain
able experts from the Worcester plants
of the great combine that came close to
the formation of a competing factory
out Of the Morgan company's property.
The young men whose names -yere
mentioned in connection with the oro
posed enterprise were not content nat
urallv, to remain in mere subordinate
positions, where their personality was
obscrred in the complicated and ex-
tensive machinery necessary for the
conduct Of the American Steel &, Wire,
company. The question is suggested. Is
anything TO be gained for society by
combinations, formed ostensibly ito
cheaper the cost of production" but
which dcprives young men of an OBJ
portunity to become producers, or TO
embark in business for themselves?
The words Of Senator Washburn we're
not those Of a pessimist. He is a bust
ness man Of wide commercial expert
ence, at the head of great manufactur
ing interests, and during a business
career Of resrly half century, has en-
1oyed exceptional opportunities for
studying industrial conditions. The ma
ton should give the young man
chance. conditions should be changed
in SO far as legislation can change
them and the party that takes up the
cause OF the young man will be the
political party of the future.