The times. [volume] (Washington [D.C.]) 1897-1901, 1900-09-16

party. Instead of pointing out the e7i S
: of trusts the Republican leaders spend
their time in eSulting over present con-
! diUions. The trust is a part of present
conditions. and Mr.. Flint, from whom
have already quoted. declared that the
formation of large corporations was one
of tie important features of what he
described as the present business
activity.
III Republican leaders really regarded
private monopoly as All evil; If they really
intended to apply an effective remedy,
they would not hesitate to denounce
trusts and suggests means for their ex-
termination. but they express far more
solicitude for the corporation than for
the people at large. One is reminded of
the picture which a mother once showed
to her boy to impress upon his youthful
mind the sufferiags of the Christian mar
tyrs, who were being thrown into the
arena and torn to pieces by the lions. The
boy looked at the picture for a moment
and then his face frightened up as he
thought he CAUGHT the idea. Pointing
down into one point of the picture, he
said, Why mamma, there is one poor
little lion that isn't getting a bit
1T is even so with the Republican lead
ers. Their sympathy goes out freely to
any corporation, which in their opinion
is not getting its share, but they are not
moved by the hardships imposed by rno-
nopolies upon all who are outside of the
charmed circle. Three sessions of Con-
gress have convened and adjourned since
the Presidents Inauguration, and yet he
has never recommended a specific meas
ure looking toward the overthrow of mo-
nopolies.
Paper Money Trust.
"At the opening OF the last session of
Congress the Republican leaders pressed
through the House and Senate bill
creating a paper money trust and sur
rendered into the hands of the national
banks complete control of the national
currency Just as Congress was closing
farcical and hypocritical 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 by the Democrats. The Re
publican leaders then confessed the
amendment unnecessary by introducing an
antitrust bill, which was supported by
the Democrats, but which died in the Sem
ate just as it was expected to die Inc
Republican majority in the Senate re-
ferred the bill to the Judiciary Committee
against the protests of the Democrats,
who urged it's immediate passage. The
Republican party draws its contributions
from the trusts during the campaign, and
pays back its obligations by leaving the
people at the mercy of the trusts be-
tween campaigns.
Let us note briefly the effect of the
trusts upon various classes. Reference has
already been made to the commercial tray-
eler, the hotel keeper. the railroad, the
liveryman, and the newspaper.
The Erect of Trusts.
THE lawyers are finding that with the
growth of trusts the business is gravitat-
ing toward the offices OF the big corpora
ton attorneys. while less fortunate prac-
titioners are becoming law clerks.
THE actors suffer from the theatrical
trust.
THE small manufacturer is constantly
meDaced by the trusts.
He does not know at what moment some
large corporation viii attempt to monop-
olize the business in which he is engaged
and give him his choice between bank
ruptcy and participation in an industrial
conspiracy against the rest Of the country.
Many have been driven into the trust or
ganization by the larger corporations en-
formed to control iron, steel, tin plate, or
some other product used as basis for
further manufacture. In what business
can your son safely invest small amount
of capital today? If he starts into any in
dependent business he will find it difficult,
il not impossible. to compete with large
organization if it attempts to undersel
him in his territory, because 1t can sustain
itself by collecting high prices in other
parts Of the country. If he suppresses his
moral objections and takes stock in
monopoly he does not know how soon those
in charge may attempt to freeze out the
smaller stockholders.
THE merchant is losing his independ-
ence. The trust fixes the terms upon
which he shall sell and often binds him
by contract not 10 sell a competing article.
When the. monopoly is complete credit will
be shortened, and the merchant will be
compelled to bear all the risks of trade.
When the trust raises prices the merchant
usually has to divide the advance with his
customers. so far as stock on hand is con-
cerned, but when the trust overstocks the
market and let's the price fall the mer-
chant must bear the loss on accumulated
stock. When, for instance, the American
Steel and Wire Company closed several of
its factories a few months ago and threw
some six thousand employees out of work
it dropped the price of nails and barbed
wire in order to work of a surplus stock
which had accumulated because the high
prices had lessened the demand. Every
merchant lost money on the 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 ex,
plain this upon the theory that the people
are too busy to sit down ] may add that
there is also dullness in the shoe trade.
The Iron Age in a recent issue, pointed
out that the production of iron was falling
off. the decrease then amounting to more
than 50, 600 tons per month. Dun's report
OF July q stated that the wooden mills
were running at less than half their ca
paeity. and even recently the cotton manu-
facturers have been threatening to either
reduce wages or shut down temporarily.
According 10 Dun's report, the business
failures have been greater during 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
warn are in progress.
Trusts and Arbitrary Fluctuations.
THE contractor can figure with some ac-
curacy so long as natural laws control. but
he cannot protect himself against the ar
bitrary fluctuations. which are not only
possible but probable when a monopoly
controls the market
''The farmer is one Of the most impor.
tant factors in our national life. Some one
has said of him, The hand that guides the
plowshare feeds the world He Is not a
stakeholder in any Of the trusts, but he
feels the extcrtion practiced by them all.
I am not farming on large scale. but the