The evening times. [volume] (Washington, D.C.) 1895-1902, 1900-01-15
President Low on Trusts.

In recent address before the Central
Federated Labor Union in New York,
President Seth Low. of Columbia College
frankly expressed his approval OF combi-
nations of industrial capital. In part, he
said.
This age Is the age Of surprise. Of berilder-
ment, ~ new inventions. new processes, and new
methods. The individual Is more important poll
Uealiy than ne ever was. but economically he
has almost disappeared. The individual capitalist
tss disappeared before the corporation and the
trusts. and the individual lab0rcr has been alb
~orbCd by the trade union. These things are the
result Of the political freedom TO combine. The
tendency 90 combine is a new force in society
and Is viewed with alarm by some. Simple part
n7rships were once forbidden by law as danger
Gus q" society. We can an remember when trades
unions were illegal combinations yet how Ear We
sIa from that uowf
From the partnership gradually grew the small
corporation. then thu trust; and from the trade
union grows the cent al organization and national
federation society Is experimenting wiki both
capital and labor and while many pers ms are
hurt Ay inventions in. the experimental stage,
IN the end they beneficial
II believe in combinations both Of labor and
capt. heilcVe thEt they are not only in
,Vttablc but adyantageou~ 10 the human race I
believe iu the great corporation and the trade
union: in cooperation in all its forms. Both
OF course. make mistakes. but the only way 10
find ont the limits Of combination is by expert
nert. In the long run. | believe the outcome
viii be thoroughly good for mankind
view inventions and methods Of business
displacc labor but the capitalists suffer also in
this day a. change. Only two Of the firms in the
same business with my fathers firm did not fail
and We went out Of business because we did not
care 20 adopt the new methods Invention pro
Ereacs So rapidly that valuable machinery be
CONES unprohtahle in few years"
Il is not to be denied that the view Of
Tered by Mr.. Low is steadily enlisting the
support OF many people among the great
majority Of Americans cot open to the sus-
picion OF belonging % tho small class now
gisibly the chief benefici aries Of the new
Iystcm whose tendency it is to concentrate
The property and money Of the country in
The hands Of a few individuals. leaving the
bulk Of the people in the condition Of eco
homie feudatories in relation to the former
By far the greater number Of those who are
Inclined to accept the trust and combina
lion principle Of future social organization
Rs an inevitable one, at heart do so resent
Ing its apparent cruelty Of discrimination
between those who are to have wealth
which Croesus might envy and the vast
bulk OF their fellowmen who are 20 have
nothing but bread. and only that as
charitable concession.
No one, the multi millionaire perhaps ex-
Ccptcd. fails to regard the social and in
dustrial. conditions current with aversion
and apprehension; but there are many who
do not see how they could be different.
considering the limitations Of average hu-
man intellect and the magnificent prizes
which the forces Of the time have placed
within the grasp Of those who had for
tune. brains, the genius Of organization.
aud the trained faculty OF money getting TO
help them on. Certainly as the affairs OF
the world and the country stand today. he
who has seen. like Mr.. Lows father and
Mr.. Low himself. the small partnerships
transformed into the small corporation. the
latter into the large corporation, and large
corporations, again, coalescing into the
trust, can doubt that such a system and
irresistible tendency Of concentration, once
fairly started and progressing under favor
ing conditions. must go on and on TO the
ultimate limit Of Commemorative possibility.
until al last all the trusts will be absorbed
in one or a very few final trusts, amounting
in character and operation to a single con
trel
A strong suggestion Of this tendency and
of its practical possibilities has been fur
nished OF late i'm connection with the
Treasury scandals. Through their ex-