Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1901-02-21
Morgan, Carnogie--and After
ward

Morgan, Carnegie--and After
ward.
Such stupendOus aggregations OF
capital as are represented in this
latest enterprise of Pierpont Nor
gan cannot fail to arrest the
attention Of every thinking man.
Mr.. Morgan is among the safest
and ablest of our construct. e
fnanciers, and his power is never
likely to be exeited with deliberate
purpose of mischief. But every
man with such vast resources and
influence at command cannot be
defended upon to use them either
wisely or honestly, and even in
the acknowledged designs of these
great "harmonizations" there is
involved distinct menace to the
general welfare.
The temptations come to men in
positions Of such power, to use
them in control Of the sources of
production, the processes of pro-
duction, the commodities them
selves and the world market in
which raw materials are bought
and the finished output sold.
When Morgan controls the iron
mines, steel and wire mills, bargcs
and railroad, that haul the pro.
duct to market, and sets the price
of ore in the mine and wiie and
rails at the mill, just as Have
meyer controls sugar and Rookie
Teller, oil, and Clark and Rookie
Teller, copper, who is going to
guarantee that this immense power
over commodities and markets,
producers and consumers, vii! be
wisely or beneficently exercised?
The records so far are reassuring.
Standard Oil has crushed out rivals
but has reduced the cost of light.
The sugar trust has corrupted legis-
latiOn, hut increased the number of
pounds for dollar. Railroad
combinations have eliminated com
petition but have steadily improved
facilities and reduced rates. Blu,
these mitigating circumstances
largely exist because. SO far the
combination has been unable &c
perfect it's control over sources oI
production. One trust mad,
money and that started up another
Hayemeyer found himself con
fronted by Arbuckle, Federal
Steel by Carnegie. Now the ques
ton is whether this imperfectior
of complete control is constant O
conquerable. If Havemeyer an,
Arbuckle and Spreckels join hands
if Carnegie sells out to Fedora
Steel where is competition to COM
from? The Portland jobt or gets low
rates through concessions from riva
transcontinental lines; but if Can
adian Pacific and Great Northern
and Northern Pacific and Uniol
Pacific and Central Pacific ant
Southern Pacific and Santa Fl
merge their ownership into com
mon directorate, or harmonic
into a complete understanding
who except one man on Wall stree
is going to say what portion OF
Oregon's lumber going east OF
Mississippi's cotton coming west ii
to go for carriage.
The economic effects of the move
ment can doubtless be borne
Natural law is hard to circumven
with perfect success. But what o
the political effects? We know
what has built up the steel inter
ests to their present gigantic pro
portions-an iniquitous tariff
which has enabled the arden
prOtectionist, Mr.. Carnegie, to pu
$S5, 900, 900, more or less, in hi.
pocket. We know what has con
tributed largely to the railroad
ACKNOWLEDGEMENTS legis
lation, both of the neglectful and
and the predatory order. Tha
is, we know what might have KEEP
us from falling into this state, bu
the preventative is not now cure
Nor is the question, after all, s.
much what is best to be done IA
what demagogues will persuad
the people is best The most oh
vious Effect on present-day polite