The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-04-04
A HOPEFUL ALARM.

Biblical Recorder.
In ''Harper's Weekly" of March -,
the leading editorial is entitled TRUSTS
and Socialism," and it proceeds without
apology N hesitation to declare that the
time is come to consider trusts seriously
Never before in the history of the
country have so many powerful comblna-
tions of corporations and capital been
brought intro existence. 1t is safe to say
that the manufacture and sale of nearly
every article of common need and con
vemence are controlled by Il trust, as
transportation is largely, and as labor is
almost entirely" These sentences are
from the leading editorial of one of the
most influential of New York publica-
tions. In political organ, or out of the
mouth of a malcontent or an agitator
they would not weigh so much. But
from a reputable, Independent publca-
ton, in the home Of trusts. and taken
together with the editorial in the com
mercial journal which we recently
quoted. the alarm that provoked it is
hopeful to a great degree. The North,
the home of capital and of trusts, Is
being aroused to the danger: and in no
uncertain tones. The weekly" goes on
to say that the tendency of trusts IS not
so much simply to work hardships or to
corrupt legislation but that it is, by rea-
son of doing these things, toward the
danger which de Tocqueville pointed
out, namely that the Democracy which
has annihilated the feudal system and
vanquished Kings" will come to that cx-
treme in which it will arise in its UNI
questioned power and overthrow and
overrun the citizen and the capitalist.
Understand that sentence. 1t means
that trusts are in danger of so Cypress
ing or wronging the people, by restrain
ing trade or shaping legislation or evad-
ing laws, that the people will go to the
extreme, not only of oyerthroWing the
trusts, but of confiscating wealth i'll the
name of Socialism. That editorial pro-
claims that trusts give forth the miasma
in which the germs of Socialism multi
ply most rapidly; that trusts are the
best breeders of SOcialism-and of anar-
chy it might have. added that editorial
tells capital that it is its worst enemy
when it invests in trust it tells the
man of wealth that the modern trust is
the chief enemy of his hopes. And the
editorial is very sanely conceived. Its
author is no extremist. He dares to say
as no demagog would, that there is no
valid argument against trusts if they
stick to their proper work, do that work
honestly, treat the individual justly, and
keep corrupting hands off politics" and
that what we need more than laws
which restrict and prevent the fOrma-
ton of trusts are laws and courts that
will hold them to high standard of
honor. that will prevent misuse of their
power, and that will especially prevent
their oppression of individual competi-
tors" That is sound, but hard to bring
to pass. And so surely as our Govern
ment is so constructed that ultimately
the people rule, the modern trust, grasp
ing and greedy, oppressive and powerful,
evading laws and destroying legislation,
will come to a hard end whether III Il
tornado of socialism or in the processes
Of legislatures and courts, depends upon
which shall be necessary. We would adj
wise every man who owns trust stock to
sell while he can. A day of wrath IS
coming.