The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-07-16
THE DIFFERENCE BETWEEN TRUSTS AND
HONEST CORPORATIONS.

The best apologist the trusts have IS
the man who says to those who speak
MAINLY of their evils, You are making
war on corporations. 1t Is the studleu
effort of the unlawful trust to seek TO
nut itself along with the lawful corpor-
alton, and to try to create the lmpres-
sion that these who fight trusts are light
ing all capital and corporations Nothing
is further from the truth. Corpora
lions are a great blessing to the world
trusts are n great curse. Corporations
max and do become evils when they
Join "A trust. hut the evil is not in the
lawful corporation but in the unlawful
trust. In !: very thoughtful address on
trusts at the Press Association, Mr..
III. a. London called attention to the dis
tinction. As reported by the Messen-
ger he is quoted as saying:
..He said that while we should de-
n0unce trusts, we must not contonnd
corporations with trusts, but we must be
discerning and discriminating as to cor
porations. Corporations have been a
great benefit to the country. We would
never have built a railroad if it had not
heen for corporations, and never have
consummated a great many enterprises,
hut trusts proper deserve the abuse they
receive. The more corporations we have
the less danger there will be from trusts
AZ trust. he said. was the combination
Of smaller corporations into one glgan-
tic corporation, or many corporations
cooperating together to crush out COM
petition or force mp prices. he cited a
very interesting and comprehensive arti-
Gle on this subject which appeared in
The Review of Reviews. The growth
and immense proportion which trusts are
assuming is startling. The trusts of
this country now have a capitalization of
$5.OvO.0O 900. and they are forming con-
tinrally. Where will they stop! He re-
marked that the consolidation and com
bination of corporations in many In
stances are great benefit. As an in
stance he cited the consolidation and
combination of railroads into great sys-
TENS cheapening transportation and in
creasing the facilities and convenience OF
travelling. He said, however. we don't
want all the railroads to combine. We
must have sufficient separate railroads
to give us competition, but it was better
for rs to have three or four railroads
than to have fifty. lie cited the Stand
ard Oil Company as the first trust Of
this country. and stated that it was ar
glled by some in favor of trusts that
they cheaper products: that combina-
TONS do away with the necessity for so
many officers and reduce expenses so as
to cheaper production. He said while
it is claimed that a trust might give us
cheaper production. it might be that oil
might have been still cheaper with com
petition. The Havemeyer Sugar trust
he cited as an instance where. prices had
been advanced. Sugar has not been re-
duced in price, but it has been kept up.
He asked the members of the associa-
ton to discriminate in denouncng COR
porations and trusts. Our arguments
must be sustained upon justice and the
facts. In discussing this question it was
hard to do so without bringing in poll
ties. which is contrary to the consttn-
fion of the association. Some attribute
the cause Of trusts to the high protective
tariff. but we are not here to take that
ground. Others attribute the growth Of
trusts to the gold standard for money.
We must inform ourselves. however,
as to the best means for eradicating the
trusts. They should he and must be
crushed Trusts are a more serious men
ace and more DANGEROUS than monarchy
to civil liberties. He gave warning that
the Growth Of trusts and their effect in
crushing the people will sooner or later
Nving on revolution Of which the
French revolution cannot compare"