The times., 1901-04-23
Europe and Trust Competition,

the domination of trusts and monop-
olies. and have about concluded that 1t
would be useless longer to combat the
destruction of that system of free COM
petition which, half a century ago, re-
suited in thousands of small but ade-
quate completeness and no vast for
tunes Whether or not they fully un-
derstood what they were doing, there
is little doubt that the momentous
change from American individualism
in industry and enterprise to a con-
Ciition of combination and the absOrp-
tion OF all profitable manufacture and
sale by the trusts was endorsed by
the voting masses of the country at the
polls last November.
1t is perhaps as well for the people if
they can, 10 consider not so much the
proximate as the ultimate consequences
of their action When they reelected
Mr.. Mckinley they gave Hannaism a
new lease Of power. Hannaism involves
the devotion OF all national power ana
means TO the advantage of the few at
the expense Of the many. 1t means
the death of small business enterprises
and the destruction Of small fortunes
1t means the extinction Of a middle
class. financially considered, and the
division Of the community into two dis
tinct classes of plutocrats and people
depending upon them for bread. But
probably il also promises the imposition
Of burdens upon American taxpayers
which we are afraid d majority of
them in no wise expect
The American trust movement is not
only national. but International
Through the absolute control of the
home market, and their ability to
charge what they like, up to the limit
of the prohibitive tariff in this country,
our monopolies are able to recoup
themselves for initial losses sustained
in invading and wrecking the markets
of the Old World That they have
avaued themselves Of this advantage
and have successfully reduced compe-
tition in other countries to the vanish
ing point is a commonplace Of trade
today
It does not follow that rival com
nercial nations will accept the over
lordship of American trusts. as the
people Of this country have, or allow
the bread to be taken from the mouths
OF their workingmen. It is d very grave
thing to threaten the basic industries
Of a great State like Germany. for ex-
ample Germany may stand it for a
time: but public opinion in the En-
pire, as mirrored in its leading press,
and the strenuous efforts which the
Kaiser is making 10 build up his navy
make Us feel that it may not be for
all time. There is no room for doubt
that a condition of suspicion, irritation,
and fear pervades Europe with respect
TO the United States. In this connec-
tion it may be instructive TO quote
from an able editorial in the Vienna
Fremdenblatt' on the subject OF Amer
lean competition. The "Fremdenblatt''
says:
Experts who are well informed as regards
the industrial situation and the export rond.-
tions which prevail in the United States have
established the following facts: American steel
"or6s. which were IN their infancy twenty years
ago. control today the markets OF the world and
directly or indirectly dictate the prices Of iron
and steel In all countries As they have ad-
HiTabie machinery, perfect methods Of trans
coal. they have attained position which permits
them not only 10 compete with those countries
which produce iron ana steel, but also to eX-
port their goods with profit into England.
4 remarkable change has also taken place as
regards the production OF boots and shoes. Ten
years ago the United States imported shoes from
Europe. and especially women's shoes, which
were sent principally from Austria and Germauy
To-day not only do they Use their own leather
and export a large quantity Of it. but they
also inundate Europe with ready-made shoes.
compete with the cheap goods Of England, and
even establish stores IL Paris and IN the large
cities Of Germany.
1t is well known that the United States,
through their wealth in mineral oil and their un-
IfF3led facilities for refining and Transporting oil
control the petroleum market in Europe and
are only held in check by Russia. In like man
ner the experience Of the past few months proves
that in a short time American coal viii play
point out that al typeWritcrs come from
America. and that il is not possible 10 obtain
ia Europe Office furniture, such as desks. chairs.
tables, bookcases, etc. as comfortable or as
good American furniture at the same price
Many other articles in the same category might
be uamcd-indeed the list could be extended in
definitely. More important however is the fact
that syndicate has just been formed in America
tor the purpose OF recognizing and thoroughly
improving the sleeping car system IN Europe.
Finally American manufacturers Of gloves Of
ueu's clothing. and even Of women's clothing
articles which. only a few years since. i'm
ported from Europe in enormous qusntities-are
already trying 20 devise some means by which
they can unload their surplus stock upon the
European market"
Another leading European journal,
the Vienna TaRoblatt," argues that
our ever increasing wealth, in view Of
the fact that Europe is weighed down
by enormous charges which are the re-
suit Of militarism. is destined to make |
the United States the creditor Of the |
world. and that within q few decades !
the whole Of Europe, as well as Aus |
tralia, Japan. and China, will be its |
debtors unless they take timely precau- |
tions against falling under the thrall- |
dom Of this new world Power.
Readers Of The Times do not need |
70 be told that the newspapers, and |
many Of the leading men Of the Con
tinent are agitating the formation Of |
3 European alliance against the United |
States. Should the American shoe
more and more tightly. as now
seems probable. in the light Of past
history, il is probable that Govern
ments, as well as the press and poll
ticians. may join the movement: and /
then We shall be face TO face with that
very condition of militarism which, on
the other side, has given our monop-
oIies their golden opportunity
Were the wealth derived from these
Of foreign invasion equit-
ably distributed at home, it might be
improper from an economico-patriot
point of view To complain Of the move |