The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-04-23
HOUSTON, SUNDAY, APRIL 20, 1900.
TWENTY EIGHT PAGES.
CORPORATIONS AND TRUSTS.


In Its ever present anxiety to defend re-
publican policies and to lessen the effects,
II possible, Of popular attacks upon its
party, the otherwise esteemed San Antonio
Express falls into some very funny exhibit
lions OF a want OF that Intelligent grasp OF
public questions which we naturally look
for in public journal of Its prominence.
In q recent Issue 1t offers a curious kind
Of defense OF trusts" evidently the re-
suit Of confounding plain corporations with
Corporations composed OF corporations"
which we now call trusts" II may be an
all corporations or joint stock companies
are not trusts. To allow 1t to continue In
its present dense mental confusion on this
subject would be to invite further reckless
breaks from 1t like the following
Trusts are certainly undesirable IL they are
In restraint OF traue or use their power to
mako exorbitnnt prices aud should. II pos
siblo. he prevented from doing SO by law.
But q trust that conducts its business 10
legitimate manner ana Is satisfied with
legitimate pront Is decided benefit to the
people. as II can produce at n smaller cost
than can be done by individual enort. IL is
bad Judgment and the reverse OF good bust
ness sense and contrary TO good pubic poncy
TO ATTEMPT to destroy all trusts because some
OF them may be bad or might be, ONE so.
IL is n well known fact that where trusts are
most numerous and most extensive IN their
operations the people are better satisfied, bet
ter onployed and PROSPEROUS. The Clark
thread trust Is one Of tho giants among tho
trusts. second to none unless IL BIO the stand
ard OH vet tho people OF Birmingham, Ala.
offer that trust 100000 and hve-aore tract
OF land 10 induce IL TO set up an establish
M rf ia hat A. IrMEtu fnFralOFp
be regulated. not destroyed, FOR many great
enterprises are possible Of success only
through aggregation of capital and its EN-
ployment BY combination
Trusts are certainly undesirable II they
are in restraint OF trade or use their power
to make exorbitant prices" says the Elk
press. II the Express had known the dit.
ference between a simple corporation ant
q trust, It would have known that the yer,
object Of combining all corporations in
certain line OF business into trust, wa
TO control production and fix prices-abso
lutely controlling trade. The prices arr
not always exorbltant. for that would TOT
greatly limit patronage. or invite new Ell
torprises which would have to be crushed
or bought up at great cost.
But. says the Express, where trusts ar
NEST numerous the people are better salts
fed. better employed and prosperous
This Is pure fancy sketch to help out tn
apology for trusts. On the other hand
the combinations OF corporations known a
trusts are made for the purpose Of euttint
down forces. closing many factories, an
concentrating management and production
Thousands of men are thrown out Of EN-
ployment. Independent enterprise is pre-
vented and stagnation results except ii
the trust lines
The arguments which the Express use
in support OF the corporation principle ar
of course sound and universally admitted
No intelligent person opposes the organi
cation OF independent corporations for lie
ultimate purposes. The Express Is simpl!
raking up first principles in presenting
these old arguments again al this time
The mistake it makes is in failing to ap
precia.e the distinction between single cor
porations and a combination OF corpora
tions called trust. For the latter Their
lie no apology notwithstanding
the fact that the republican party foster
them.