Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-11-05
MonoPoLlEs, TRUSTS AND coMBIHA
TlONS.

[Arthur j. Eddy in Chicago Times
Herald.
Monopolles-A monopoly IS Il grant or
franchise by the crown to- n subject of
the exclusive privilege Of buying, SELL
ing, making. working or using OF any
thing In course of time the term
monopoly has come TO be applied TO,
any natural or economic condition
wherein a particular trade. industry or
occupation Is under the control of a
few. II would seem that the term
monopoly has no place " iratseever In
current discussion of trusts and combi-
nations. and IN truth ii ,ha : not. 1t is
still used simply because three cen.
turtles ago 1t became so obnoxious to
the English speaking people that 1t
serves 10 arouse prejudice to cal! any
thing monopoly.
Trusts-A .s,rusiH is simply a combt-
nation of corporations formed by the
creation of a trust, Wherein the stock
holders of the several corporations de-
post their stock with trustees, receiy-
ing back receipts in the form of trust
certi ficates. the control of the several
corporal tons being thereby vested in
one central body. namely. the trustees
trusts are practically obsolete.
Il Combinntions-A combination is the
cooperation Of two or more parties to-
ward n given end. Primarily and es-
Ssentially a combination is an economic
factor; coinbina ton describes a condi-
ton of which co-operaiicn is the active
principle. There can be no combination
without co-operation Of some sort. and
no co-operation without combination of
some sort: both are absolutely essen
{ tial TO progress. and there is nothing IN
herenily wrong in either combination
or Cooperation. but rnen may of course
conlbire and co-ope rate TO do things
which are wrong. Social progress
would be impossible Were 1t not for CO.
operation ard combination.
Illegal objects--It has Frequently been
held by the courts and declared OF late
by many leg islatures TO be unlawful for
parties to combine together |. To
control competition. . TO control
/ production. 2. To control prices. And
4 VIII ether the parties actually do or can
control competition, production, or
4 prices is l,nmaterial. "A combination is
illegal il formed for any Of those pur-
/ poses.
q
Iject Of decisions and LAWS against COM
]binations being To protect the consumer
/ against maintenance of prices al alb
1 normal levels, ii would naturally be
supposed that both law and decisions
would be directed impartiaily against
conhinationsc of bot h abor and capital.
that no determinations would be made
/ since a combination OF one may affeci
4 : 4. j u. - Z, u.
/ prices in exactly the game way as a
coordination of the other. but so far
from there being no discrimination. Il
sis we'll settled by nunle rous decisions
t and many legislative enactinents tina;
combinations of Dor TO restric. pro-
Il duction by shortening hours. TO limi,
.lSapprentices or to advance wages, are
4 Legal whereas combinations OF cap
Eital to restrict in any manner or con,
.Itrol prices are illegal.
Antitrust egislaton--N otwithstand.
ling this mass of legislation there is /
8I3cry for more legislation, and especial,
4 for federal intervention. even for al
i amendment to the constitution. Thu
d3cry comes from the politicians rattle
than from the people. for IL the peopl
Hreally wished com binations suppressed
a they have the power IN their seyera
i states and terrific to make TIL
necessary laws, and they have sucl
Z laws in thirty statesand territories an,
1sthey have elective state. s attorneys an.
elective judges. all ksenly alive 10 TIL
popular will. "A federal law could no
4isbe drawn as drastic as most OF th
state laws;if state officials will moi en-
4 force the latter. what reason is there I
q believe that federal officials would en-
8 force the former even il passed
Mr.. Eddy's conclusIon-C Combination
4 of ca nital and combinations of u hn,