The midland journal. (Rising Sun, Md.) 1885-1947, 1901-05-03
TRUSTS.
Their Advantages, Evils and Remedies
Therefor.

Communicated.
A trust in the sense in which that term
is now used in political discussions, is
corporation or combination of number
of corporations having or seeking
monopoly of some industry or branch of
business. Familiar instances are the
Standard Oil Company, the Steel Trust,
the Beef Trust, the Pooling Arrangements
of the steam railroads, the American
Bankers Association, the street railways,
gas companies and electric light COM
panies of the large cities, the express
companies, the telegraph and telephone
companies, the Associated Press, and
many others that might be mentioned.
How the name of trust came to be ap-
piled to these monopolistic combinations
is perhaps not easily explained, unless it
be to indicate that they as, to be entrust-
ed with powers which no man or set of
men ought to have in republic. 1t is a
curious coincidence, however, that the
legal definition of trusts grew out of the
practices of monopolistic corporations
way back in the dark ages, which were
fast getting possession of all the lands of
England, by means of conveyances and
devices which were called conveyances in
trust because made upon conditions which
the donor trusted to the donee to perform;
as for example deed or will of land to a
religious corporation upon condition that
should have so many payers for the re-
pose of the soul of the donor. At first the
courts had no jurisdiction to enforce the
conditions on the theory that the donor
had trusted that to the promise or good
faith of the donee, and the donor being
dead there was no way of compelling the
performance Of the conditions.
1t was case of pure trust, by means OF
which these ancient corporations were
rapidly getting all the land of the country
for nothing, (until parliament and the
courts stepped in and prohibited convey
ances upon trusts which were too vague
or indefinite to be enforced by the courts
and enforced the performance of such
trusts and coalitions as were definite and
enforceable.
The chief advantages of trust are,
first, lesseniug of expenses; and secondly,
control of the prices to be received by the
trust for its services or goods, or paid by
it for goods sold to it or services perform
ed for it. 1t appears at once that the
advantages of trusts are also their evils;
the same things which are advantages to
the trusts are evils to others. Lessening
of expenses means throwing many men
out of employment, and controlling the
prices for goods and services puts the EN-
ployees of the trust and the public conf
pletely at its mercy. And yet what is or
what are the remedies? For years we
have heard trusts, denounced by all par
ties and almost by all papers, but they
have continued to grow and flourish. Not
because they have been denounced, but
because no effort has been made by the
Republican party to find any remedy and
the people have not given'any other party
the opportunity to try to find remedy;
and perhaps no party will be commits
stoned by the people to legislate against
the trusts until they feel that such party
understands the nature and extent of the
evil and All efficient remedy therefor. If
the trusts continue during McKinley's
second term to flourish as they did during
his first they will be the most important
issue of the next congressional and Pres
idential campaigns and therefore form a
timely topic for thought and discussion
now,