The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1899-08-02
TRUSTS, POLITICS AND PROTEC
TON

Now that the Democracy is so much
concerned about the trusts the charge
is freely made that the Republican
party is responsible for them, because
it is the advocate of the protection sys-
tenn; that system being, it is alleged,
1.-The mother of trusts But the facts
do not sustain the allegations. Trusts
of quite as great influence in the COM
mercial world form in countries where
free trade is the rule. It is conceded
that protection is responsible for the
prosperity of the country, albeit in the
most prosperous times there is some
suffering, and always will be, since it
is truth that the poor we have always
with US.
Even so pronounced an opponent OF
protection as the Louisville Courier
Journal is frank enough to say that
the country is prosperous and that it
is folly to deny it, or to refuse the Re-
publican policy credit for it. Take Chi
cago, for instance. In it's manufacture
ing concerns there are 10000 employees
who have, under the present Admins
oft from 8 to 80 per cent within a year
or two. Some of the concerns have
twice raised the wages OF employees
within the last two years.
The most effective antitrust laws of
the day have come from Republican
Legislatures, and the most practical
antitrust law of the Federal arm was
the product of Republican legislation.
The stockholders in trust concerns are
not to be classified by political faith.
Trusts are development in business, re-
gardless of political platforms or be-
HefS. If the claims made against the
trusts are sound. it is folly to talk of
handing over so serious a matter to
demagogues for an ocean of frothy talk
and political scheming, as the ST. Louis
'Globe-Democrat" sensibly remarks.
The problem involved is not to be
settled by political manipulation, but
by the common sense of the country.
The trust is not, in short. a political,
but a business and social factor, and
must be handled as such. If trusts are
H1enacing the prosperity of the country
or enslaving the industrial people, it
is as much the duty and concern Of
Republicans as Democrats or Populists
to curb them, and doubtless it will so be
made. The charge that the tariff is
of hat
foundation than assertion. Some of the
largest and most pretentious trusts of
the day relate to trade and manufac-
ture that have no protection under the
tariff at all, which fact in itself gives
contradiction to the charge referred to-.
The greatest trust in the country, the
oil trust, antedates protection in mat
ter of time, and owes nothing to it
whatever. 1t secured control of prod
uct of the country and commanded
the market regardless of any tariff reg
ulations. The second largest trust in
the country, the sugar combine, owes
nothing to the tariff. as the New York
Tribune remarks in denominating it
that poor outcast from tariff sup
port"
The Iron Age" recently pointed out
that If all tariff duties were abolished
it would not result in smashing the
trusts. The age" assumes, for the
sake of the argument, that tariff pro-
lection affords some consolida tions, aid
and comfort, enabling them to charge
domestic consumers higher prices than
under free foreign competition. 1t then
pertinently asks what would be the
effect of abolishing such duties? The
consultations would not then go out
Of business simply because prices would
be reduced, for they would cut down
their costs to meet the conditions, and
1T should be added labor would be the
chief sufferer. The raw material would
then have to be furnished cheaper and
the wages for the production of that
material would necessarily have to go
DOWN Profits might be reduced. but
the greater part of any reduction would
come out of the earnings of labor
In addition to all this the income of
the nation would suffer corresponding
", but the trusts would still do BUSH
ness and those nearest to monopolies
would flourish most. The trusts in the
iron and steel trade would be actually
benefited by the change, as their sur
plus production would be forced into
foreign channels at prices which would
make the merchandise move in SUCH
directions.