The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1899-06-15

that has q monopoly in the manufacture
of an article can fix its price. The only
check is potential competition. But
there are many devices by which COM
petition can be suppressed, sometimes
by securing control Of patents, or by get
ting protection under tariff laws, by buy.
ing out possible rivals. by temporarily
lowering prices-at least in districts
threatened by invasion. Practically
there can be no successful competition
with powerful corporation like the
Standard Oil Co., or the Sugar Trust, or
the Tin Plate Trust. The price of com
modties Is usually fixed just below the
point where competition can succeed,
and the margin is large enough to afford
enormous profits
The fourth object of the trust is, when
possible, to fix the cost of raw materials.
An absolute monopoly can do this be-
yond doubt in many cases, II the
Sugar Trust is the only refner of sugar
for raw sugar and this in turn makes the
price that can be paid the farmer for
beets.
These features of the trust show con
cluslvely that the American people will
have to take the trust in hand and
be driven to devise measures for self
protection. What are some of the feas-
ible things that can be done? This ought
not to be made a political Issue. Moth.
ing could be worse for the country,
or more to the advantage Of the trust,
than to have one great party take one
side and the other party the opposite
1t is an economic, not a political ques
ton and to be settled in accord with
economic laws. not by politicians, who
for the most part know nothing about it.
Only few things are yet clear and the
wisest men will have to rack their brains
and almost break their hearts before the
problem is solved. A few things seem
perfectly clear.
|. Whenever the tariff laws foster
monopoly they should be modified.
2. The same is true of the patent
laws. That law is injurious to the pub
lie which has given the Bell Telephone
Company go long control over an inven
tion which the public convenience re.
quires should be within the reach of all.
1t would have been far better for the
State to have bought the patent at any
cost.
3. We need laws against over-capi-
talization, compelling every corporation
to submit Its books to public inspection.
and perhaps determining allowable per.
centages of profit, as interest is regulated
by law.
Some of these remedies are matters
for state legislation aud some belong to
congress. The critical question for dem
ocracy is whether it is able, or not, to
select legislators who can be trusted to
enact wise laws bringing corporations
under control. They cannot be de.
stroyed without carrying down in their
ruin too much else. The public must
either control them or they will control
the public. They have shown them
selves so far altogether selfish and un.
scrupulous-and have more than once |
controlled or corrupted legislation.
They have their representatives., not only |
in the lobby, but in some legislatures
and even in the Senate of the United
States. The attempt to enact hostile |
laws will be met by every effort which
legal skill can devise, and also, undoubt.
eddy, by methods of corruption when.
ever possible. We need legislators who |
can not only not be bought. but who
cannot be deceived. and who can find |
out the wise thing to do and have the |
courage to do it. The supreme test of
a democratic form of government is
whether 1t will be able To elect such
men or not. If not, the corporation is
the ruling power of the future.
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