The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-05-13
TRUSTS IN THE NEXT CAMPAIGN.

TRUSTS IN THE NEXT CAMPAIGN.
The platform OF each of the great polid-
cal parties in the campaign next year will
contain strong declaration against trusts,
but will the trust question have much in
fluence in determining the result of the
campaign That is a ques lion which cannot
Of course be answered with any degree Of
certainty. From present indications. how
ever, il would seem as If the trust question
would nor play as important part in the
campaign as the politicians and newspa-
pers seem to think. There are several rea-
sons for this view, One is that neither
party viii have much advantage Of the
other in the matter OF trusts. Both will
make a bitter war on them on the stump
and through their respective newspaper
organs The voters will be left In doubt
therefore as to which party is the more
earnest in it's efforts to destroy trusts.
Another reason is that the feeling among
the masses against trusts is not as yet
very strong Except in a few instances
they have not found that prices have been
raised in consequence of the combination
of a number of businesses of the same
kind under one management. Until con-
sumers begin 10 feel that trusts are bur
densome Indignation against them will not
be very great, no matter how much may
be said against them. II is probable that
the great majority of trusts viii be care
full not to advance prices until after the
campaign Is over, so as TO avoid the hos
tility which the campaign orators and
newspapers would arouse against them
Then again 1t is far from certain that
there is any authority in the legislative
and executive branches of the government
TO deal with trusts The attorney general
said sometime ago that trusts were state
institutions, and must be dealt with by
The states in which they do business or
which grant charters to them If this is
the correct view the trust question as
likely 10 cut a very small figure in the ma
tional campaign next year, however strong
the declarations against them in the plat
forms of the parties may be.
There is a time coming, however, when
there will be an extremely bitter feeling
against trusts throughout the entire coun-
try, and that will be when trusts begin to
put up prices beyond what they were be-
fore trusts were formed, and when the
holders of shares of trusts discover that
these institutions have been greatly over
capitalized and cannot earn dividends
AT present trusts are busy putting their
shares on the market. Except in few
cases, the people have not yet invested
very largely in them, but the expectation
is that they will. A statement was pub
lshed few days ago that the par value
of the shares of the trusts formed up 10
that time was more than $6,0O0,00OOOO. No
doubt all the property of these trusts could
be duplicated for one half, and it may be
for one-third of that amount. 1t is pretty
certain therefore, that if the people buy
largely of these shares they are going to
be heavy losers. When the trusts begin to
go to pieces the popular indignation against
them will be far more fierce than it is now.
And the efforts of the trusts to save
themselves by raising the prices of Their
products will only serve to increase the
indignation. Then will be the time when
because the people will compel the legisla-
lures of their respective states to take
prompt and effective action against them.
But before that time comes the trusts wall
be powerful enough to prevent hostile leg
islatlon.
The fact, however, that neither party will
gain much advantage from the trust ISSUE
and the further fact that trusts will not
have much to fear Immediately from the
Endorsement of the ISSUE ought not to have
the effect of making the war on trusts less
aggressive. The platform declarations
against trusts win be the beginning of the
war, which should be waged everywhere
and at all times until the trusts system is
destroyed.