Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1900-01-18


made such inroads upon the business
relations of business men, and are
attracting such general attention be
cause Of their supposed aud claimed,
hurtful character that they must be
better understood.
"Many years ago trusts were moi
regarded as inimicnl to the public
welfare, and were not Of that charac.
ter, and do not intend to be led into
the discussion Of any so-called harm.
less' trusts"
Having thus fairly and in broad
minded manner introduced his sub
ject, Judge Tibbals quoted many of
the prevailing definitions Of trusts"
and spoke briefly Of their develop
rnent from a commendable origin into
large and encroaching combine.
Taking exceptions to the statement
made by II. B. Thurber, who before
Lexow committee. once said: EAT
no previous period would a dollar buy
so much Of the necessaries and CON-
forts of life as at present" the speaker
said: II cannot agree that n dollar
will buy more 'necessarles and CON-
forts of life than upon former occa-
sions. There is no doubt but that a
few years ago that was true, but in
my Judgment, we cannot escape the
fact that competition in business tend
ed to diminish profits, and the sale
of goods Mt fair and reasonable prices,
and under that condition of business,
the working mans dollar did buy
more of the necessaries of life than In
former years, but I maintain that at
the present time, solely, or, Mt least,
largely, by reason Of the effects of
these combinations, dollar does not
buy anywhere near the amount
of the necessaries of life that
1t formerly did, and 1t arises out Of
the fact that these combines have in
fiuenced the prices upward, by their
schemes of shutting off competition,
driving out of the markets Il large
part of the business men, obtaining
control largely of business enterprises,
the dictation as to prices both of ma
terlal and of the manufactured prod
uct, thereby obtained for themselves
the power of debating prices to the
consumer.
again, the idea that unrest of Ia
Dor In free country is not danger
GUS phenomenon is startling propo-
sition to u well-ordered community.
Unrest always creates disturbance,
and often leads to anarchy; and we
need only look at the threatening at
titude of the working men of this
country today for the truth Of what
I have asserted"
The speaker quoted from a magazine
article written in 1897 by Ex-Governor
Il. r. Flower, who said that "in 1880
common cotton cloth costing II cents
yard, is now selling at A cents, and
SO along the whole line. Products of
iron and steel, also of wood, have been
reduced solely by these trusts from 80
to go, and In some cases, so per cent,
which means that the public has re-
ceived In each instance superior pro-
duet for these constantly diminishing
prices"
Judge Tibbais said. 81 cannot In
dorse this sentiment, nor agree to 1t,
us IL matter of history. 1t Is not true,
In my Judgment, that prices of articles
have been reduced since 1880 to the
present scale, by reason of concentrate
ed capital. On the other hand, the ex-
net reverse Is true. After the close OF
the war, when the country began to
recuperate, Il general growth of bus
mess, and general expanding of all
sorts Of business enterprises took
place, which resulted in great competi-
tion, and by reason of such competi-
tion, and the extended character of
such enterprises, reaching all COM
modities, resulted IN the general
lowering of prices, long before the
growth or existence OF modern trusts
or combines; indeed to such an extent
has this carried that many attributed
to 1t the panic OF 1873. The over-pro-
duction of everything beyond the con-
sumption, SO that prior to 1880, these
prices were all extremely low, and
caused, not by combines, but by the
reverse, competition. maintain that
the present prices, which are largely
in advance of what they were q few
years ago, are the direct results of
trusts and combines, because, by rea-
son Of this concentration of capital,
the destruction of competition, the les
senlng Of the cost of manufacture be.
cause carried on by many less men,
and 1t being within the power of COM
bines to suppress manufacture until