Sharp County record., 1901-10-18


ceS.
If there are a number of establish
ments of any kind in any community.
engaged in the same business, OF
course they naturally bid against each
other in buying their raw materials,
and thereby they keep the price OF tne
raw material up to the highest point
thew can afford to pay and do busl-
ness. They also underbid each otheF'
when it comes to selling their finished
product thereby keeping the price OF
that article down to the lowest rate
thew can afford This condition OF
things is to the interest of the public IN
every way, and gave rise to the olo
adage that competition is the lie OF
trade" This competition amongs!
themselves affects the employment OF
labor lust as it does the buy1ns iob-
raw materials. Now when all these
connecting establishments are brousht
under one management and conl1H'
YOU readily see that this does away
with all competition in buying as
we'll as all competition in selling as
amongst themselves, as also IN the
employment of labor. This sort Oh
combination is called trust, because
when these combinations were hrsl
heoun the practice was for all OF these
establishments to put the management
of their affairs into the hands OF
man called a trustee, this trustee
acting for all these rival estaDllsh
ments. The Democratic platform last
wear at Kansas City adopted by the
democratic convention, speak tnus OIL
trusts: "They destroy competition,
control the price of raw material anu
of the finished product; thus ropDlhs
both producer and consumer. Ihey
lessen the employment OF LABOR anu
arbitrarily fix the terms and conol-
tions thereof and deprive individual
energy and small capital of their op-
nortunity for betterment. They are
| the most efficient means yet devised
for appropriating the fruits OF indus
try for the benefit of the few at the
expense of the many, and unless their
insatiate greed is checked, all wealth.
will be aggregated in few hands'
and the republic destroyed
Even the New Yory Tribune, great
Republican newspaper, has IN a re-
| cent issue this clear recognition OF
the effects of trusts: Some interest
ing facts concerning the trusts in Eu-
ropean countries are presented IN re-
cent consular reports to the United
States government. The name trust
appears to be little used If not
unknown. but the thing itself -four
| known
as a cartel. There is one in the sugar
trade comprising ninety-eight per cent
of the whole. There are others in
the coal. iron, tin-pIate, OIL, soap,
brick, potassium and many other
trades. Indeed, they seem to dominate
practically all branches of industry.
Their objects are to suppress comEe'
ton. maintain prices, and If necessary
restrict production by the partial or
entire closing of works"
Now, state without the slightest
hesitation, that the American Cotton
Company has not and never has had
any one of these purposes, as set out
in the Democratic platform, and that
it is in no sense a trust. 1t does not
destroy competition. but on the con-
trary promotes it. 1t has never made
or proposed a combination with any
other method of packing cotton, but
on the contrary is in open competition
with every other known method, and
this fact is the reason why prejudice
is being invoked against it. 1t
does not control or attempt to control
the price of raw materials, or of the
finished product, nor does it attempt
to lessen the employment Of labor.
But it's purpose is to do exactly the
reverse of all these things. Instead
of reducing the price of raw cotton,
the effect has been, wherever one OF
these presses has been put in, to com
pei cotton to bring better price, on
account of the savings in the use
of it's press. The finished pro,
duct, the round bale, is considered
by spinners more valuable than cotton
put up in any other form, and
they pay a higher price for it.
Gov Clarke has utterly failed to re-
deem his boast that he would prove that
this company was trust. The Ameri'
can Cotton Company is a corporation
operating under patent, issued un,
der the laws of the United States, and
as the charge that this company is
trust seems to be Gov. Clarke
chief stock in trade, it is as well that
should briefly state the facts about
this patent and about the company
which operates it, and hope that this
statement will obviate the necessity
of having to discuss this question at
every place we meet.
J. W. Graves lived in Drew county
in this state, about fifteen years
ago. and was, believe, the original
inventor Of the idea Of packing cotton
in detail by rolling it around a cylin
der under pressure, thereby producing
a much greater density with much
less expenditure of force. l was in
troduced to Mr.. Graves On a railroad
train by gentleman who told me
of Graves idea. After Mr.. Graves
had explained it to me, | told
him that | believed it would prove q
very valuable invention if he could
construct a machine to carry it into
4 Niy,g