Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-02-15
conbiaa.los aud Possible Effects.


varied conjectures and fnnumerable
prophecies Indeed even the next step
in this remarkable DEVELOPMENT Is
somewhat uncertain. Already we have
evidence that it will, in cases where
natural advantages are equal, be al
most, If not quite impossible. TO estab-
nsh monopoly which will be beyond
the reach OF competition. Amy attempt
on the part Of the trust Ito take to itself
| unuSual nrofit is sure to excite the de-
sire for like undertaking in the minds
Of men able to command great capital,
and so trust competition would ensue.
Moreover. there has been tendency
toward over capitalization trusts and
fraud in the management of SO many
trusts that the investors must
eventually shun SO precarious invest
| ments and hesitate Ito put their money
| in stocks. the value of which can be
determined by Il half dozen I'M
scrupulous men.
1t must be conceded at the outset
that this tendency toward combination
is by no means irrational. 1t is simply
one stage in the development OF enter
prise and there have been many in
termediate ones between the old time
merchant and the modern merchant
prince, and now the latter reaches a
point where he is losing his identity
which becomes merged in a corpora
ton. There likewise have been many
intermediate steps between the trades
mans booth and the magnificent pile
of architecture of such mammoth pro-
portions that the sunshine is shut from
the streets below, and the point is
reached when the public clamor for
their share of light and air and even
the occupants of the towering structure
begin to wonder if advantage has no,
after ali, been lost. and already the
able limit in size may not have
been extended When the occupants Of
the building as well as the passerby
below arrive at the same conclusion,
there is likely to be halt. and at least
a modification. And SO we may be-
liave that when not only consumers but
all except the generals of the trust en-
terprise reach the conclusion that
remedy must be had, one is pretty sure
to be found. The notion that a few
multi-millionaires are to tie the hands
of the great mass of sellers as well as
buyers and crush the world under their
feet. is ludicrous on its face when
viewed dispassionately.
That there is possibility of dissatis-
faction among producers as we'll as
consumers, middlemen and nearly
every one affected is clearly set forth
by the New York Journal of Commerce
in recent issue. Among other
features of the trust problem it men
tons the following:
1T needs no argument to show that
industrial system must involve great
changes in the interests dependent
thereon. 1t is one thing when the dis
tributing trades, for instance, are de-
pendent for their supplies upon large
diversity of competing producers; 1t is
quite another when they have but one
producer with which to negotiate, and
that one has absolute control over the
market. In the latter case, one-haH OF
the merchants vocation is virtually
gone. There is no room for intelligent
discrimination in the selection of his
goods; none for judgment as to values;
none for securing specific adoption TO
| the wants of his customers; none for
| turning TO account his abilities in bar
| gaining. All these functions become
delegated to a sole manufacturing cor
poration, which makes what it pleases
and brooks 10 dictation as to price.
| The merchant may, at least in many
cases, dispense with his trained buyers
| whose regulating influence on the
manufact has always been directly
| Wholesome-and depute their functions
to mere order clerk. The distributor
borrower, has no longer the former oc-
casion for regulating his stock of goods
according to the condition or prospects
of the market. His attention need no
more be occupied with influences
affecting the probable future course OF
prices: all that is fixed at pleasure OF
the monopoly. whose will is known
only on the morning of the day when
such changes are made. The merchant
thus becomes a mere dummy in the
hands OF the monopoly: his intelligence
and experience are worthless to him
he is restricted to the function of q
mere mechanical routine and hi.
chances for making his business profit.
able are reduced ITO minimum ano
largely beyond his control. Under
these conditions. what may be ex.
pected to be the future status of the
American merchant, whether as t
sagacity intelligence or earnings?
This. however. is not the leas
hopeful view that may be taken of the
distributors future. When his func.
tons have been neutralized to such ar
important extent, does not that fac
establish probability of their being
ultimately superseded? With his ser.
vice limited to the mere mechanical
transfer of goods from the monopoly tc
the retailer, is il unlikely that If NAV