The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1899-08-10
ABOUT TRUSTS.
ABOUT TRUSTS.
We Should Discriminate Between
legitimate Corporations and Hurt
full Combinations.

There j. a difference between trusts
and c0rporation--a distinction that
i not ALWAYS observed. IN denOunc-
in" trusts the inclination is to class
all corporations "a trusts and to de-
u0uncc them without discri minatlOn.
which i unjust. Mr.. II. \. London,
Of the Pitts bor0 Rec0rd, one Of the
ableSt a, well a one Of the most con-
sentative editors in the State, called
attention to this distinction in an adj
dress on trusts at the meeting OF the
State Press Association last week.
The Wilmington Messenger quotes
Mr.. London As follows:
..Hc said that while we should de-
uounce trusts we must not confound
corporations with trust, but we
must be discerning and discriminate
inc as TO corporations. Corporations
have been great benefit to the coun-
try. We would never have built a
railroad if it had not been for cor
pOratiOn-. and never have cOnsum-
mated a great many enterprises, but
trusts proper deserve the abuse they
receive. The more corporations we
have the less danger there will be
from trusts. \ trusts, he said, was
the combination Of smaller corpora
tion- into one gigantic corporation.
or many corporations cooperating
together TO crush out competition OF
force up prices. He cited a very in
tcrc-ting and comprehensive article
on the subj cct which appeared in the
Rcric,r Of HericmS. The growth and
immense proportions which trusts
are assuming is startling. The trusts
Of this country now have Il capitaliza-
ton Of s., 900. 900, 900, and they are
forming continually. Where will
they stop? He remarked that the
consolidation and combination Of
corporations in many instances are a
Great benefit. As an Instance he
cited the consolidation and combina,
ton of railroads into great systems,
chcapcning sportatlOn and in
crca,ing the facilities and con
ycnicncc5 Of travelling. He said,
however, we don't want all the rail
roads to combine. We must have
sufficient separate railroads to give
Us competition, but it is better for
us to have three or four railroads
than to have fifty. He cited the
Standard Oil Company as the first
trust Of thi, country, and stated that
it was argued by some in favor OF
trusts that they cheaper products
that combinations do away with the
necessity for so many officers and re
duce expenses so Il, to cheaper pro
ductiOn. He said while it is claimed
that a trust might give us cheaper
production. it might he that OF
might have been still cheaper witt
competition. The Havemeyer Sugal
trust he cited a> an instance wher,
prices had been advanced. Sugar
has not been reduced in price. but il
has been kept up. He asked the
members of the Association to dis
criminate in denouncing corporations
| and trusts. Our arguments must be
sustained upon Justice and the facts
in discussing this question it wa:
hard to DO so without bringing il
politics. which is contrary to the
| constitution of the association. Some
attribute the cause of trusts to The
high protective tariff, but we are no
here to take that ground. Others at
tribute the growth OF trusts to The
gold standard for money. We mus
| inform ourselves, however, rs to thu
best means Of cradicating the trusts
They should be and must be crushed
Trusts are Il more serious menace