Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1899-06-02
THE RULE OF TRUSTS.
THE BILLION DOLLAR IRON AND
STEEL TRUST.
Carnegie Receives $4,000 Day for the
Transfer of His interests to the Combine
An Object Lesson Which Should Teach the
People Why Hard Times Are Upon Us.


People Why Hard Times Are Upon Us.
Andrew Carnegie announces his re-
tirement from business, having sold
hiss iron industries to the great steel
combination for one hundred and fifty
millions. This amount he invests in
first mortgage bonds Of the combine
at ) per cent interest, which will pro-
duce him an income of 81 100000 a
year, or $4,000 day, which is Il
pretty good salary to do nothing-be-
ing $50 times as much rs the Presi-
dent OF the United States receives.
1t is a sum greater than is paid to the
kings of Bavaria, Spain, Servia, Wur-
tumberg, Saxony, Roumania, Portugal,
Norway, Sweden, Greece, Denmark
and Belgium, COMBINED. and Carnegie
world have enough left to pay the
salary of every president on the face
of the earth! That is what the fools
OF America pay to one man, and not
the richest one by any means. And
yet these fools would never, never,
never submit to support royalty!
The situation is, that Carnegie had
possessed himself OF the position to
tax the people to the extent of mil
lions year. The combine wanted to
exercise this power and they bought
the power of Carnegie, paying him
$4,000 day for all time to come, he
and his heirs, for the privilege. They
expect to tax the people to pay this
and profit for themselves ON top OF
it. Carnegie simply sold the privilege
of taxing the people-only that and
more. Just as kings sold the |
privilege of taxing the people to the
highest cash bidder, which was the
cause of the Wyatt Tyler insurrection
in England-and all other revolutions.
When you come to consider that the
steel trust is capitalized at one thous-
and millions Zone billion dollars) and |
that Carnegie's contribution to is less
than one-sixth of the whole, you will
to some extent, if you
have mathematical turn of mind,
what this one trust means in the way
Of taxing the people. 1t will suck |
from the labor of the people OF the
United States more money than all |
The kings, emperors, dukes, lords, bar
ons, presidents and royal families on
earth suck from the worlds workers!
The robbery of royalty sinks into in
beside this one trust. And |
then to know that the copper trust is
Of the same size and power and that
there are over 400 other trusts, you
must be dull indeed if you cannot see
where this thing is leading to. All
these vast, incomprehensible incomes
could be saved to the people if it is
some scheme to rob the industrious or |
divide up the property, of which it is
neither. 1t will not take many years
1t the present rate Of combination to
20 reduce the people to poverty that
they cannot stand the private owner
ship of industries, even if they would.
Therefore let us rejoice that the con-
is making such rapid head
way, because it will shorten the time |
and lessen the sum of human misery. |
Incidentally, Carnegie announces his
of retiring from CONNER
cial affairs and devoting his life and
fortune to philanthropy and the fight
ing of trusts. All of which can be
taken with more or less salt but time
will tell whether he means it or has
the intelligence to comprehend the
Dnly remedy. And we are nearing the |
Century.