The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1899-07-11
TRUSTS AND TRUSTS.

Now that every one is talking of
trusts, is is we'll to emphasize the fact
that all trusts are not Of the same
kind-that not all have the peculiar
advantages and special privilegesof, for
instance, the Standard Oil Company.
Farmers Voice refers to the matter in
this way:
"a contemporary points out that the
era of classification" is near an end,
basing it's presumption largely upon
the fact that there ia a tendency or
the part OF the people and conserva
tive moneyed men to discourage their
formation, and in proof of this c Alls at
tention to the fact that the people of
the Pacific coast have refused to have
anything to do with the Pacific Coast
Biscuit trust.
Before we felicitate ourselves over
much upon this assumed changed as
pect of affairs, let US consider for q
moment some of the important facts
connected with this trust business. We
desire to emphas z anew what SO often
has been said in these columns, namely,
that there are trusts and trusts. What
monopoly has a cracker company9 No
one cares for stocks and bonds Of that
kind, for the cracker manufacturer is
subject to the law of supply and de
maud, to that law Of competition
which will work out perfectly if no OBJ
strucIions are placed in the way.
But would the Pacific coast people
turn their backs upon a proposition to
enter q trust for the control Of all OF
the street railway systems in the cities
of California, for instance9 Not at all;
they would jump at the chance of con,
trolling a monopoly which had power
to levy tribute upon all the people and
which was absolutely free from the
law of competition-made 30 by grants
from the people themselves!
w must keep clearly in mind these
distinctions il we would understand
the operation Of the trust, it's possible
future and the rights of the people to
uSdl WILL 4Bs AAO AOH 40 dOb LOASOu
that the people can deal at once with
any trust whose dependence is upon
special privile GO. II it be in the form
of a protective tariff revoke it; if it be
through patent rights amend the la VS.
governing patent rights so that all the
people shall share in the blessings of
inventions; il it be through great oil
fields, az in the case of the Standard
Oil trust, tax the full value of the oil
fields; ii it be in a public franchise, en-.
act q Ford bill in every State and tax
the franchise to the full extent possible.
Attorney General Monnett, of Ohio,
estimates the profiss Of the Standard
Company in Ohio alone at 1920 900, coo
q year. 1t ought not to be difficult to
find the value OF the natural resources
from which this vast sum is drawn,
yet the trust pays a p~ittanGe in the
way Of taxes.
with any trust not thus sustained
the public has nothing to do 80 long as
it ~trespasses not upon the equal rights
of any other. That may seem g sweep
ing statement, but the fact remains
/ that American citizens have q right to
amelgamate interests and run private
enterprise tn suit themselves so long as
they d0 not interfere with anyone else
in an illeealmanner. Bat this is q Tally
true: American citizens also have q
right to engage in the same lines, and
will DO go Whenever it is for their in
terest to do 40. Therefore, if a trust
which has no monopoly, like the
cracker trust. for instance, raises
prices too high there will at once be
F! capital at hand to establish a ETH
tive business, and thus the trust will
! be defeated and broken up
I'VE hear much about what "the
parties will do against the trust. When
they destroy the private monopoly
which lias behind the only trusts that
can live In the face OF the natural en-
terprise of the people, we shall believe
the parties are sincere, but not before"