The Washington times., 1901-11-12

any great industry at a single point
But to make such legislation effective,
it would have to extend beyond the
corporations themselves, and reach the
individual stockholders otherwise two
or more separate corporations might be
composed of the same individuals. and
they could pool their interests just as
effectuaIy as If there were but one
corporation.
Referring TO this matter of the reme-
dy, the Chicago Chronicle sensibiy OBJ
serves that the remedy may be found
in a cessation of encouragement, rather
than attempts at prohibition. In this
connection it is worthy Of note that
the trusts have reached their highest
development in the United States-the
very country in which natural condi-
tons would seem TO be the least IA
vorabe for their growth. Obviously,
under normal conditions it must be
more difficult for combinations of cap
italists to monopolize whole industries
in this vastly extended country than
in a comparatively small one like Eng
land or Germany. Nevertheless, the
trusts Of the two countries named are
as mole hills to mountains compared
with the giant cormorants that have
been built W in America. Why is this?
There surely must be some reason for
it. What appears to be a good and sui
ficient reason can easily be found.
If combination is formed in Eng
land, which puts up prices unreason-
ably, what is the result? Simply this:
Some individual or concern in France
or Germany manufacturing the same
goods rushes them into England and
forces the Price down again. Hence in
Great Britain there is very little to be
gained by combinations of capital be-
yond the point necessary for economy
in production. Here the situation is al
together different. The great trusts are
formed not for economy of production
alone, but to control the price of the
commodity, the latter being the pTin-
cipal object in view. The combination
being made. the trust may mold up the
price twenty, forty, sixty, or even a
hundred per cent above what is re-
qutred for legitimate profit. The tariff
enables this 10 be done, by preventing
the foreigner from getting into the
country with his goods to compete with
those Of the trust.
1t seems strange that it should be
necessary to employ argument and il
lustration TO make clear point that
ought to be self-evident to a person Of
ordinary wit. But it is, and we find
people who are being robbed in this
way every day of their lives. cudgeling
their brains for arguments against the
proposition of Withdrawing from the
trusts any Of the artificial advantages
which they now enjoy The intimation
contained in this last clause presents
the salient feature Of the trust issue
as we are called upon to deal with it
in this country. 1t is not a question
whether capital shall be allowed to
combine for legitimate business pur-
poses, but whether combinations de-
signed for injustice and oppression shall
be encouraged by laws which enable
them 10 charge more for their products
then they would be worth under fair
ard reasonable competition. Whatever
difficulties may lie in the pathway of
a general all-around regulation and
control of the trusts, the withdrawal
Of artificial support from them is a
perfectly plain and simple remedy, and
if applied, it viii give a large measure
of relief.