Smyrna times., 1900-10-31
INDUSTRIAL COMBINATIONS.

1900. "c1' D.
A combination of labor is n trades
unioh' combination of intelligence a
university, combination of money a
pahk; an Industrial combination is q
combination of labor, intelligence and
money.
In studying the evolution of indus
trial life we find that combination ia
coincident with civilization. Savopes
nave little power to combine. becansa
combination depends on trust in our
FELLOW man, and in primitive life if ia
fear that rules.
One of the first steps in industrial
eVolutlon was to subdivide production
INTO trades Each did what he could
do best, settling accounts by an ex-
change of products. Later those en-
gagged in the same trade formed mart
nerships, then corporations and finally
consultations of corporations.
Against this march of Industrial
progress there has always been Opposi-
tion. There have always been those
who, appealing to special interests. to
the unsuccessful. the diScontented and
the misinfOrmed. have endeavOred TO
obtain political favor by opposing prog
ress, by endeavOring to prevent the
natural and mutually beneficial coop
Grafton between capital and labor.
In this great territory of ours we al
ways have with us those who try to
make people believe that their siding
is the main track. We have had the
know Nothing" craze, the Green
back" craze. the Granger craze and
the silver craze, but they were all re-
jected by the good sense Of the Ameri-
can people. Today our farmers recog-
nize that the markets of the world
have been opened to them through the
great systems of railways, which have
resulted in the heavy steel rail, the so
ton locomotive and the continuous haul.
Economically the wheatfields of Da-
kOta are nearer to London and Paris
than the farms of Yorkshire and Bur-
gundy.
The men of sound judgment, leaders
in the industrial wars for the suprem-
acy of the American farmer. the Amer
lean manufacturer and the American
wage Garner, should not be disturbed
by the clamor of those who are not in
the struggle and therefore cannot ap-
preciate the actual conditions and
whose leadership, if accepted. owing to
their ineXperience. would conduct us to
: inevitable disaster.
Centralized manufacture permits the
! highest development of special machn-
/ | cry and processes. The factory run
: ming full time on large volume reduces
( the percentage of overhead charges
2 Direct sales on a large scale minimize
D the cost of distribution. Capitalization
g of manufacture and distribution reduce
' ! aggregate stocks and therefore save
. shop wear. storage. insurance and in.
: terest Consolidated management re-
g suits in fixing the standards of quality
the best standards being adopted; in
r avoiding waste and financial embar
D rassment through overproduction. ir
less loss by bad debts through com
. parisons of credit and in securing the
|. advantages of comparative accounting
g and comparative administration.
V Industrial evolution. which is as in
) evitable and as unalterable as the Law
e of gravitatiOn, has attained its as ye
highest development here in the Unitet
II States Every unprejudiced man mus
q recognize its advantages and that it !
il because of them that we are taking s
important a position in the world
/. markets, increasing our national wealth
furthering the welfare and increasin
| the prosperity of our people.
d The tendency is today to minimum
n Of profits and to a maximum of wages
1. When profits become abnormal, the
n invite competition and are immedlatel
reduced, In which case the consumer
l benefited solely. If they are not sufi
I ciently abnormal to invite competition
then labor demands a larger share {
the profit in the form of increase
% wages. and 1t is either voluntarily {
m necessarily agreed to, In which cas-
the body of wage earners reap the az
n vantage. The wage earners OF II
ad United States are today enjoying
a higher standard of living and larg'
in measure Of well being than wage ear
ers have ever before enjoyed In the hi
no tory of the world. They are the re
~ money power. The railroad manage
al have rails and rolling stock, the min'
= has mines, the manufactures hi
~ bricks, mortar and machinery, an
e most Of them have debts, and many a
no mortgaged to the banks for saving
- but the wage earners in the Unite
States have on deposit in cash in Il
10 savings banks, subject to call, $3.50
100000.