The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-09-18
TRUSTS AND The PEOPLE.


Trusts and their menace to the public
have had a discussion at the Chicago
conference that is likely to result in
good. The two notable figures of the
great conference were Bourke Cochran
and William j. Bryan. Mr.. Cochran,
with a plausible appearance Of fairness,
wanted the trusts remedied, but he de-
sired first to have some one prove the
existence of a trust evil. Like all the
economists Of his class he left it to be
inferred that any organization of cap
ital that promises to reduce prices is a
benefit to mankind, and that trusts are
effected for the sole philanthropic pur-
pose of reducing the cost of living. Also
he thought publicity and inspection suf-
ficient remedies for their faults.
Mr.. Bryan was conservative and slow
to think himself possessed of legal
cure-all. He declared it manifestly I'M
wise to give any man or body of men
an unrestricted monopoly of any COM
modify. Knowing human nature, he
said the result could surely be predicted
when any trust got into position
where it was the only consumer of raw
material and the only producer of fin
ished goods in any one line: the trust
would buy at its own price and sell at
it's own price, and sell at the highest
figure its buying public could bear. His
remedy was joint state and federal re-
striction.
If Mr. Cochran had ever had occasion
to sell cattle or sheep, or hides in Chi
cago he would have discovered very
quickly some evils of a trust. If he at
tempted to compete with Messrs. Ar
mour or Cudahy or Morris or Swift on
a large scale. he would find that the ter
minal charges at the stockyards alone
would drive him out of the field. He
would find himself unable to get ship
ments moved in or out promptly; his
in and outbound rates would be higher
than theirs, though no proof could be
secured of that fact. The same dis
ordinations would meet him if he tried
to embark in the coal trade or in ice or
milk, or windowglass or bricks-indeed,
it would be easier to enumerate the
branches of industry outside the trusts
than in them. And most of these in
Chicago depend upon discrimination in
railroad rates for their control of bust
ness, in defiance of a federal law which
the roads are very ready to call to their
assistance when trouble arises with an
attempted labor trust
8 8 @
The free people of the west cannot
realize the Misunderstanding pressure the
trusts have brought TO bear on the pro-
ducers and laborers of the east and mid
die west. Commercial travellers by the
thousands have been discharged; fac |
tories of all kinds have been closed !
down; small tradesmen have been wiped
out of existence. At the same time |
prices have been advanced arbitrarily |
on clothing, food, the material for shell |
ter. Even collins are made by trust, |
so that man may be said to pay tribute |
to monopoly from the cradle to the |
grave.
IN eXtenuation the trusts plead that |
they cheaper the cost of production. !
They might, but they do not They dis |
charge commercial travellers. shut /
down one plant and water the stock for /
an extra million. They have to pay div !
idends on that extra million and have to
raise prices and lower wages to do it
If there is danger of a surplus in the |
American market, they ship the surplus !
TO Europe at any price they can get or
shut down factory so they can main.
tain profitable figures at home.
Philanthropy! Reduce prices! As
well expect a Sioux Indian with scalps
in reach to be philanthropic, or a Chi
cage wheat trader with a corner in his
hands to reduce prices.
MIR, Bryan is right when he says one
has only 10 know human nature to
know what viii happen when a perfect
monopoly gets into private hands.
With tariff that prevents competi-
ton from abroad, and a railroad and
political situation that gives. the trusts
command at home. the captains of mo-
nopoly are. having their best harvest
now. They choose to call it prosperity.
and their organs-some in Utah-re-
echo the cry.
Before very long the plain people viii
ask where prosperity's dividends have
been disbursed; they will want to know
why taxes are so heavy if the nation
is prosperous; they win ask for an ac-
counting. Then the trusts and the wa
tered stock and Bourke Cochran and
Mr.. Hanna will have an opportunity to
answer before the bar of the people
Their sentence win be instructive, but
it will not be cheerful And Mr.. BRYAN
is likely to be the judge to pronounce
the decree.