Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1899-03-24
A. TO TRUSTS AND COMBINES.

States would be q matter Of universal in
tcrest and Importance.
A. TO TRUSTS AND COMBINES.
Practical experience IS teaching us that
the writer's and declaimers who are cru
sadinx against the trusts have misunder-
stood the situation very largely. The polit-
ical authors. particularly. are fighting these
organizations from false premises. for the
danger in them is not that they create mo-
nopolies which will advance the prices of
products and thus increase the burden Of the
people. No doubt We may find the reason
why public sentiment has not been more
theoretically stirred against the trusts in
the very fact that the aGitators have start
ed wrong.
Up to a certain point the trusts In Amer
lea have been a real benefit. The combina-
lions of industries have vastly economical
the cost of production and distribution.
Regardless OF the fact tina many Of the
trust prices may still be yielding unreason-
able profits. 1t remains a matter of general
public knowledge that in nearly every case
the organization Of a trust for the produce
ton Of any given commodity has resulted
in n c~heapening OF that commodity to those
who buy and consume 1t. This is a state
ment OF fact that will bear investigation
throughout the whole range OF trusts and
combines. and therefore those who have
preached the doctrine of enhanced prices
because Of monopolies find themselves with
very little fact TO stand upon,
During the campaign of 1895 our Populist
agreements among the railroads were de-
signed for the purpose of advancing the
cost Of transportation. Their orators pro-
claimed this from the stump. and their
newspapers supported it in labored articles.
They were proceeding sturdily along with
this sort OF argument when the federal
court rendered a decision In which 1t was
shown that In more than 80 per cent Of
the traffic agreements the cost of trans
portation had actually been reduced. Sim
ply stated. the railroads had not used their
monopoly to enhance rates. having reaped
their advantages in quite a different man.
ner.
And so it has proved in regard to most
of the combines. It is true that exceptional
cases may be found. but as a whole the
trusts have tended to lower prices rather
than raise them. This IL not because they
are engaged in the work of philanthropy.
nor because. contrary to popular notion,
they ave souls. IT is because they are
managed by shrewd bushes men. who
realize that they are doing business in a
land where a popular storm may rise in a
moment and sweep their organizations out
of existence. And 1t is because. too. they
know that trusts. like individuals. are liable
to competition whenever excessive profit
earning shows too plainly.
But II does not follow that because many
Of the combinations. based on legitimate
capitalization, have benefited both them
selves and The public. no evil turks in the
system. On the contrary. the best business
men Of the country are fully of the opin-
ion that great danger may lie in them. and
that II something is not done to stop the
mania for such organizations the whole
country may be plunged into financial suf-
fering. Trusts with fictitious capital to an
enormous amount are daily coming into
existence. They are not legitimate busi-
ness enterprises. but pirates on the sea Of
commerce. Unable to bear up under the
slightest relapse from booming business
conditions, they will collapse suddenly with
a wreck Of fortunes. Unfortunately. these
collapses do not injure those alone who are
responsible for them. They involve the
whole financial world and entail lors every
where. 1t is this sort Of trust forming that
should alarm the American people. Instead
OF fighting against them o the false fear
OF ~monopolistic prices. they should be
fought because they threaten Q rational
financial panic
That q fight will be necessary is daily
becoming more apparent. That this tight
will be mad by the Republican party is
Just as certain as Is the existence OF The
historical fact that every great movement
in American government has found its
champion in that organisation during the
clamor against trusts and combines the
Democratic party has just passed through
four years OF national administration
without even attempting to strengthen the
laws made by . Republican administration
against trusts and combines. There is no
hope In Democracy. In more than one
third OF a century 1t has not initiated a
single distinctive governmental policy. un-
less We may except its recent campaign for
a bogus currency. AS II has met every
other issue for the people in the past. the
| Republican party will meet this one. In
Its next national convention It will draw
| the line between legitimate business CO.
| operation n commercial balloonins. and
II will then enact into law q statute that
will prove effective.
EDITORIAL NOTES.
Mr.. Bryan's expressed preference for
| cheap dinners Is merely a bit of cheap DEM
agoguery.
Mr.. Walls. Populist member Of the Okla
homa legislature. is in trouble. 1t is 4 bad
year for Popullst walls.