The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1900-04-03
FOG d FOR THOUGHT.

stock of $16O 600, 600. It may be i nter
esting to review the events that led up
to the formation Of this gigantic or
ganjz alton.
A few weeks ago Mr.. Andrew Car
negie, who held most of the stock in
she old Carnegie Steel Company end
Mr.. Ell @ Flick, who has managed
the concern for many years, became
involved in a dispute. The dispute
came about this way. Fr,ck ives re
moved as chairman Of the board of
directors Of the company, ard Gar
negie attempted to mat him surren-
der his stock at about its par value,
S. 600 OOO Wbereupon Nj. FIick
bcougaS suit in the Court of Common
| Pleas at PlttsbuTg tor the d f3rence be
tween the Sc 600 600 offered by Carne
gle AID the real vaiue of the stock
TINS value being estimated By Fflck at
SIG OOO. 600 And in the COURSE of the
SUIT Mr.. Frick bIur5ed out some bust
ness secrets that startled the country
and set many men To thinking on the
trust problem that had before been in
d Inherent. Among other things Mr..
FcIck said:
1.-THE bu siness from 1892 to 1900 was
enormously profitable, growing by
leaps and hounds, from year to year,
unTll IN 1899 ne firm actually made On
low priced coDtracts in net profits
''ter paving all exp nses of all kinds,
I $21 00O, coo. In Novem0er, 1899, 'ar-
urgie estimated the net prCf.s IOJ 1900
Al $40 900 600 and FIR ck Gnen esCIma
ed Cnem u, $42 500, 600. Oarne gle val
!ed rhe entire property at over $3.50
0UO 600 and V we'd his ability Ia or
d,narIls prosperous times to sell the
-nDorfy On the L0n"On market for
&lOO 600, 600, or $5OO-OOO 600"
And all this. it mu1t be remembered,
on a capital of but $25 600, 600. Such
profits are actually beyond the COM
oreheDslon of the average man. As the
Chicago Evening Post we'll ssyg:
Sin order to realize their full import
most men would have TO take q few days
off 20 think IL over. If the plant and
nuainess we're purchased az that price
B1OO OOO OOOJ 6Du "CEd DhAu 1OE III
UnIGe0 SGaCes gold coin & p]repostar-
u supposti ion, Of course), it would
take more than half OF ali the gold
coin in this country and more than
three fourths of the total amount in
circulation. Il may interest sllverites
10 know that If all the silver dollars in
Ghe counEry we're gathered together il
would not Cqlal the price set, and that
The total issue of national bank-notes
would be LEES than half Of It,"
In fact, by Mr.. Tricks revelations
the public began to get a fair idea OF
the methods of the modern trust ard
Of the modern millionaire phllanthro
Olst, as Mr.. Carnegie is called. So
much go, that Mr.. Carnegie rus ed
ia before Frick could conclude
his disclosures and made a compromise
by acknowledging ell that Frick claimed
and giving HIM all that he dem landed.
And in connection with these disclos
ures made by Frick there are some
other matters that deserve the atten-
ton Of farmers and all voters.
First-This great trust wes undoubt
ed y paying taxes on but &25 coo, coo.
Do you prefer to continue paying
tribute to these over-grown comOIna
ions of capital and in addition pay
far more than your share OF taxes,
rather than study for yourself the
problem Of .qIaliziDg these taxesG
S9cond-rhat while the prof 8 were
growing, IS Mi. Frick sage, by leaps
AID bounds, this steel trust Was stead.
advancing The price OF its goods If
you are a farmer you realize this. The
s. .cretary o. the American Farm I'm
Dlemens Association recently pointed
cut these advances and said:
The cost Of ra material during the
year 1899 made advances unpreceden
"a la me indusgTIal history of the
y lifted States. For example, bolts
AID nuts have advanced 1875 per cent;
harrOr discs, 115 per cent; cora plant
ter aud other wire, eighty per cent;
rake teeth, ITO per cent; bar iron apd
steel, 126 per cent; cast iron, 100 per
cent; pIO~ steel, seventy Eve per cent;
pipe, round and Equare, $50 per cent;
steel wheels. s'xsy-fve per cent; bar
teeth, 1875 per cent; STEEL springs,
$50 per cent; mail sable iron, eighty five
per cent; ploW and cultIvator beams,
per per cent"
Tnis prompts the inquiry: Will you,
az a voter and freeman, continue pay
ing such tribute, or Will you commence
the study of the trust problem snd vote
and act as your judgment dictates
regardless of politicians or psrtiesG
GhirC-This gigantic roboer cor
poration, which held up the American
people and took from them the mag
nIficent sum OF more than $50 600 600