The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-05
Why Not Legalze Trusts as Well
as Railroad Pools

The G l o b e has already pointed out
the alarming increase in the number of
trusts in this country, their purpose
and their power in sitting competi-
ton and maintaining and increasing
the prices of the necessaries of life.
We print elsewhere in this issue a list
of those organizations created in a sin
gle year, showing their enormous CAPT.
talization-a list which by producers
ard business men generally may we'll
be regarded with concern. The citizen
can indeed conclude after reading it.
that the greed of the corporation in
stinct is a direct menace to American
prosperity. If he doubts it, let him look
in the direction of Washington. where
the proposition is seriously contemplate
ed of legalizing pool in the interests of
the railroads of this country As for
the railroad pool and the trust, this
much can be candidly declared-they
are both off the same piece of cloth.
They are equally bad. The defender of
the trust mist logically defend the rail
road pool. The public is the sufferer
from the operations of the one, just as
it is bound to be by the developments
OF the other.
The question is natural if trusts are
inimical to the public, if they are in
restraint of trade-and we knew we'll
they are-why not overlook the fact
and legalize them at the same time that
congress legalizes a railroad pooling
bill? No extended acquaintance with
the principles upon which the pool is
based is needed to detect the close re-
hnf
The one is just as much a violation of
the principles and the rights of compe-
tition as the other They are both in
defiance of public policy Antitrust
laws have been enacted by congress
and upheld by the supreme court
Why war upon trusts and allow the
railroad pool to be legalized bv the
national legislature?
The proposition to amend the inter
state commerce bill so as to lepa1iza
the railroad pool is predicated upon
the theory that, because carriers cam
not be constrained to observe the pres
ent law and to maintain published
rates through fear of prosecution and
penalties, then the law should he
amended so as to authorize one or
more competing carriers, by a division
OF business and earnings, to induce
another carrier to observe its provisions
In other words, it is proposed to bribe
weak or INSCRIPTIONS railroad COM
pany to obey the law, and so permit
the stronger companies-aI hands. in
deed-to maintain maximum rates and
procure increased profits, by a mini
,-;e
lie 1t is difficult to conceive how the
interstate commerce commission can
compel strict observance of a nooI-
ing law, when its own impo-
tence in executing the present law
Is conceded If the railroads are too
much for the commission under exist
ing conditions, what may be expected
when their privileges are vastly in
creased by pooling law?
1t can be truly said that there is no
demand for a pooling law among the
railroads Of the West. Generally
speaking, they are in a healthy condi-
ton and quite competent to care for
their own interests. They are moro
economically managed than the East
ern roads. They are the pioneers in
reducing railroading to a science and
- bringing rates to q reasonable level
With few exceptions their mana gers
recognizing the downward tenden
cy of rates, accustomed to conditions
harmonizing with this tendency, and
knowing their constituencies thorough
ly. have neither disposition nor desire
to provoke the public by any indorse-
ment of pooling law. They have
settled down to business, and have no
wish to stimulate riotous demonstra-
tons on the part of the public by any
disturbance Of reasonable conditions