The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-23
Europe and Trust Competitions.

the domination of trusts and monop-
olies. and have about concluded that 1T
would be useless longer to combat tGe
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 I'M
derstood what they were doing, there
is little doubt that the momento1s
change from American individual: m
in industry and enterprise to con-
dition of combination and the absorb
ton 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 we'll for the people. if
they can, TO consider not so much the
proximate as the ultimate consequences
of their action. When they reelected
Mr.. Mckinley they gave Hannaism
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
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
awaited themselves of this advantage
and have successfully reduced compe-
tition in other countries to the vanish
ing point is a commonplace of trade
today.
1t does not follow tina, 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. 1t is a 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 To build up his navy
make US feel that 1t 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-
ton 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 well informed as regards
the Industrial situation and the EXPORT cond;-
lions which prevail in the United States have
established the following facts: american steel
works. which 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 adj
mirable machinery, perfect methods of trans
portation, and wonderfully rich beds OF iron and
them not only TO compete with those countries
which produce iron and steel, but also TO ex-
port their goods with profit into England.
"A 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 Germany
Today not only do they use their 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
sNTF a EFfa D.
cities Of Germany.
1T is well known that the United States
through their wealth in mineral oil and their un-
riv3led facilities for refining and transporting oil
control the petroleum market in Europe and
only held in check by Russia In like man
ner the experience of the past few months proves
that in short time American coal will play
the same part in the world. incidentally, We may
point out that all our typewritcrs from
America. and that il Is not possible TO obtain
in Europe Office furniture, such as desks, chairs
tables bookcases etc. as comfortable or as
good American furniture at the price
Many other articles in the same category might
b. named-indeed. the list could be extended in
definitely. More important. however is the fact
that a syndicste has Just been formed in America
tor the purpose Of recognizing and thoroughly
improving the sleeping system in Europe.
Finally American manufacturers OF gloves Of
men. clothing, and even of wonen's clothing
articles which, only few years since i'm
ported from Europe in enormous qusntities-zre
already trying TO devise some means By which
European market"
Another leading European journal.
the Vienna Tageblatt," 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 few decades |
the whole Of Europe, as well as Aus |
tralia. Japan, and China, will be its |
debtors unless they take timely precau
tons against falling under the thrall- |
dom Of this new world Power.
Readers Of The Times do not need |
10 be told that the newspapers, and |
many Of the leading men Of the Con-
tinent. are agitating the formation of |
European alliance against the United |
States. Should the American shoe |
squeeze 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 20 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
enterprises of foreign invasion equit-
ably distributed at home it might be
Improper from an econOmico-patriotic
point of view to complain of the move
ment But as a matter Of fact IL only