The Topeka state journal., 1900-09-17

stock and half preferred. consolidated
the principal cast iron pipe companies
of the United States.
United States Envelope company, in
corporated in Maine in 1898, with an
authorized capital of 81 COO 600 and S4-
pan1ess and controls so per cent Of the
output of commercial envelopes in the
United States
NO HOPE FROM REPUBLICANS.
During the present administration no
honest effort has been made to protect
the people from these monopoIies- The
republican party controls the executive
and the legislative departments OF the
federal government It can enforce the
laws which now exist; il can propose
ana enact new laws but it does neither.
No persons can watch the conduct OF the
Republican party and read the speeches
OF Republican leaders. and still believe
the Republican party sincere in its
declarations against the trusts
PAPER MONEY TRUST
At the opening OF the last session of
congress the Republican leaders pressed
through the house and senate a bill Gre
aI1Eg paper money trust and surren-
dered into the hands OF the national
banks complete control Of the national
currency Just as congress was closing
a 1arcical and hypocritfca1 attempt was
made to deceive the public by the intro
ductiOn of an antitrust amendment and
an antitrust bill The amendment was
not necessary and was intended to de-
prive the states Of the power which they
now possess, rather than to confer upon
congress new authority. This vicious
amendment was defeated in the house
Dy the democrats The Republican lead
ers then confessed the amendment un-
necessary by introducing an antitrust
bill which was supported by the Demo-
Gratis. but which died in the senate just
as it was expected to die The Repubh-
can majority in the senate referred the
bill to the judiciary committee against
the protests Of the Democrats, who urged
Immediate =
party draws its contributions from the
trusts during the campaign and pays
back its obligations by leaving the peo-
pie at the mercy Of the trusts between
campaigns
Let US note briefly the effect of the
trusts upon various classes Reference
cial traveller, the hotel keeper, the rail-
road, the livery man and the newspa-
Per.
THE EFFECT OF TRUSTS
The lawyers are finding that with the
growth OF the trusts the business is
gravitating toward the offices of the big
corporation attorneys. while less for
tunate practitioners are becoming law
clerks
The actors suffer from the theatrical
trust
The small manufacturer is constantly
menaced by the trusts
He does not know at what moment
some large corporation will attempt TO
.nOnopolize the business in which he is
engaged, and give him his choice be-
tween bankruptcy and participation in
an Industrial conspiracy against the rest
of the country. Many have been driven
into the trust organization by the larger
corporations engaged in the same busi-
ness or by trusts formed to control iron,
steel tinplate, or some other product
used as a basis for further manufacture
In what business can your son safely in
vest q small amount Of capital tOday2
II he starts into any independent buSi-
ness he will find it difficult, If not impOS-
Sfble, TO compete with a large OrganiZa-
ton If it attempts to underSe1 him in
itself, by collecting high prices in other
parts of the country. If he Suppresses
his moral objections and takes stock in
monopoly, ne does not Know now soon
those in charge may attempt to freeze
out" the smaller stock holders
The merchant is losing his independ-
ence- The trust fixes the terms upon
which he shall sell. and often binds him
by contract not to sell 2 competing ar
ticle- When the monopoly is complete
credit will be shortened, and the mer-
chant Will be compelled to bear all the
risks OF trade. When the trust raises
prices, the merchant usually has to di-
vide the advance with his customers, so
far as stock on hand IS concerned, but
when the trust OverStockS the market
and then lets the price fall, the mer-
chant must bear the loss on accumula-
ted stock When, for instance, the
American Steel and Wire company
closed several of its factories a few
months ago and threw some 5000 en-
plOyeS out of work, it dropped the price |
of nails and barbed wire in order to
work on q surplus stock which had aC-
cumulAted because the high prices had
lessened the demand Every merchant
lost money on nails and wire on hand |
There is already overproduction in |
many lines The supply of common |
chairs is now considerably in excess of !
the demand, but lest the Republicans |
may try to explain this upon the theory |
"a Ia 70 lie Il
down, may add that there is also dull |
ness in the shoe trade. The Iron Age
IN recent issue pointed out that the /
production Of iron was falling of, the i
SC. 600 tons per month Dun's report of \
July II stated that the wooden mills Il
were running at less than half their ca
pac1tys and even recently the cotton Il
have been threatening to /
either reduce wages or shut down tenn
porar1ly- According to Dun's report, the /
business failures have been greater dur
ing each month of 1900 than they were
during the same months of last year
and this occurs in the midst of good |
crops, and when two wars are in pro-
TRUSTS AND ARBITRARY HUc-
TUATIONS-
The contractor can figure with some
so long as natural laws con-
troll but he can not protect himself
against the arbitrary fluctuations. which
Are not only possible, but probable when
: monopoly controls the market
The farmer is one of the most import
int factors in our national life Some |
me has said to him. THE hand that |
guides the plowshare feeds the world -
he is not a stockholder in any of the
rustS, but he feels the extortion Drac-
iced by them all
ALL MONOPOLIES ARE BAD.
Those who attempt to divide private
into good monopofies and !
BAD monopOlieS will never make any
progress toward the overthrow of the
rusts- There is no good MONOPOLY in
'rfvate hands; there never was and new
r will be- With all the advancement
n civilization man is still too selfish to
,e trusted with the absolute control