The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-09-16

utaS. Iney might give 20 rho country
II Which thy sbcsid b most aumerovs
: decisive advantage IN the struggle 10.
the trade Of the world.
what would the total extinction Of
trusts meant It would mean security
bought IT the cost o. wastAful produc.
Um- what would The full dsvelopmeue OF
trvsts unchecked b. potential composition
mean, II would mean . perverted Dts.
tribution. with extortionate profits for q
few. and burdens for many II would
mean = state from which many . man 70
whom the picture Of state socialism h nov
. terrifying specter would even begin 10
tura 20 SOCIALISM itself - che more tol-
cradle system.
Are these the only alternatives! Far
from u. A bettsr one 10 N part realised
Trusts are largely checked by potential
competition. and may be checked far more
efficiently than they now are. The type
Of law-mak.ng that promises 10 secure this
end IL a. yc. unknown 20 the practical
world. The rfnc.ple on which u rests 10
an old and fundamental principle o. cor
mon law. Monopolies are against public
interest. and trusts must not survive, n
that means retaining the monopoiistic pow
err Courts acting under common law have
done not n little IN enforcing this ?..nc.
pie. and statutes may help them. Statutes
Well enforced may greatly help them.
What should the statutes be7 Here I shall
encounter objection and dissent. The cy,,
power Of . trust rests almost entirely on
It's power TO make discriminating prices.
]. can do many things that are evil. but
II could do almost none Of them II 4 were
forced 10 treat all its custom ora alike.
"At present trust can make ruinosaay
low prices IN one small area, where some
competitor 10 operating. while sustaining
itself by profit made In twenty other areas
where IL has full possession Of the market.
II II were under the single necessity Of
ruin itself by any attempt TO compete IN
the cut-throat way ~ quickly a. Il would
ruin competitor.
There 10 much to be said In the elabora-
ton Of the plan Of action that I here sux-
gest In way that II too mesgsr 10 earn
for II an adequate hearing. Il would re-
oiiire . Federal law. and possibly an
amendment TO the Federal constitution. II
would require. for efficiency. . commission
bodies OF this kind possess. Il would re-
quire vigorous prosecution OF the work
that our people meant TO intrust TO tho
interstate cosnmerce commission, and the
suppression Of corrupt dealings between
favored producers and common carriers
II would require the overcoming Of many
prejudicss. claim the immunitieS OF a
theoretical student OF the subject when
] enter the realm Of prophecy and declare
that. strange a. q policy may now seem
that depends on fostering thu surviving
competition OF the single means OF en-
forcing uniform prices. u Ia the coming
policy Discussions OF the subject are not
tending In that direction: but practical
evolution II 40. and twenty years. n not
q shorter period. will sSfice 10 make this
fact clear. We shall have the trust for
ever. The economy that In interested In
its plan OF production will save H. We
shall not have more than q trace OF mo-
DoToly. Under tho shelter OF laws that
seem strange today but will seem natural
when experience shall be ripper. the full
benefit Of competition will be secured by
the purchasing public and the wage-earn-
Ing classes. The wastes OF the present type
OF competition will be avoided. and yet the
protection that II affords will be retained.
The possibility OF having trusts without
true monopolies viii make socialism I'M
necessary"
President NJ. Lockwood.
The next speaker. NJ. Lockwood. presi-
dent Of the American Anti Trust League.
said:
This precious weapon uhe baiioO In In
our hands. II cost oceans Of blood to
wiring II from the kings and cmperors and
the aristocrats Of the Old World Use this
weapon earnestly ana prayerfully--this
weapon before which legislators con-
gressmen. senators, presidents and judges
are but ~ chaR In tho whirIvind. Or
Eaniss the American Antitrust League:
stand shoulder to shoulder with all sons
Of toll
Mr.. Kearshy.
Mr. Kearsby. who spoke during the az.
tcrnoor. gave figures on the number Of
trusts which called New Jersey their
home. and In the course Of his remarks
said:
'"Thc danger to he met In that they (the
trusts may become too powerful ana
prevent all competition. think this can
not be prevented by law. think we ex-
aGgerate the danger Of the ability OF want
Of competition TO put up prices. I have
waited all through this discussion TO
learn any proof Of the fact that there did
exist such danger. and we must remem-
Der that the burden OF proof II on those
who assert that these trusts must be leg
isiated against"
Prof. r.. Bemis.
Prof r.. Bemis. OF the New York Blu
reau OF Economic Research. followed. In
the course Of his speech Prof Bemis said:
MOS, ominous Of all dangers is tho
danger TO political purity and personal
liberty. Whether we like IL or not. We are
destined to see vigorous effort before law
making bodies 90 regulate city monopoly
OF light and transportation. The latter
effort has thus far had It's effect In raising
the prices Of aldermen and Legislators.
daughter and applauseD II is tn he
feared that this and other maiodorous
events in the United states senate are
but n forecas, OF what awaits IN on any
serious attempt 10 regulate the trusts"
~. ". Garland.
NJ. NJ. Garland. ex-prcs,dent OF the Anal
gsma,ed Association OF Iron ard Steel
Workers mex, took the platform. He said
IN part;
THAT this rev form OF trust will bring
voluntarily any new virtues 10 the busi.
ness world IL doubtful question They
are organized for the purpose OF making
money and VIII certainly operate 10 tina,
end, but they have awakened more power
f,Ii watchers In the interests OF the great
masses OF tho common people and tn this
country the majority Of the principles ~
the people cannot be long trampeled upon.
The action 81 the trusts within themselves
nh ~