New-York tribune., 1901-11-10
TRUSTS USES AND ABUSES
JAMES B. DILL BEFORE CHICAGO MER-
CHANTS CLUB-COMPARISON Be
TWEEN ELECTRICITY AND
INDUSTRIAL ORGAN
IZATIONS.

D
subject "Trusts-Ther Uses and Abuses Mr' Dill
| described a trust dominant combination OF
| money property business or commercial power or
| energy He said in part:
If the charter of every prominent combination of
| intent of the organization instead Of reading TO
product in question, it would state the purpose
of the company TO dominate n the manuIactu5 am ,i
what is quite Important 10 dominate In tn the E
inSeht to dominate min is signied by the names the
organza tions-"United States" American: Fed
tionaL" All this both of structure and of name
| to dominate in the markets of the country ana OF
vicious but it is the methods employed. by some
corporations in the attempt to dominate whioh
Recognizing that the combina ZION and the con-
in asking Why Sf' It IS here further than
part Of the m and par St Of the
| aggressive American policy of commercial su-
strikngly apparent in the financial field. The great
banks are becoming greater and are & estahishin
of smaller banks one might ne charged with iaek Ia,
Of the Ss establishment Of great bank perhaps
der governmental influence, which shall act as
OF this country. But the anticipating OF the re-
T Of bnd S % eF ss n be OF
expedent On the part OF the government to
steady the finances ma OF his country to the end that
Carrying this proposition 20 Its logical exten, and
iand Who is prepared to deny that when this couri-
try Try S m the snd of w be
Gf ner he a e
and perhaps controlled by the United States Gov
ernment?
TRUSTS AND ELECTRICITY COMPARED.
half-century ago ever habttatan bristlsd with
force then known best from its DANGEROUS ten
with Instruments to divert electricity but is wired
TO receive and utilize the electric current. The
derstood. but also that it is under control The
ming rod man to keep electricity out of the house
They feared the fash ard the crash: but to-day
electricity and deliver it through wires into the
M S nto aho
our homes offices and na9ufact9ries les yet that cur
insulated so that the whole force is utilized while
The great question to-day is not how combina-
tons may be averted. but ther how they may be
country. The dangers Of the trust movement are,
gers from the combinations to the public. subjective
and objective dangers.
come in measure callous to public opinion, an
may be be @ 9n the part par OF fhe &c o. but
eerned This indifference TO public opinion and
that from the corporate point OF view many of the
anti-corporation legislation are based upon lack
OF understanding OF the situation Many OF the
the suppression of the movement rather than the
the foroe Such 81 he eRe or ohefmse e
while dangerous to the combinations, react strong
The tendency Of industrial, corporations to enter
ties is perhaps the most imminent danger from the
combination TO the public. Cnwise legislation
distances enaeted in response 70 ii advised publl'
corporation to enter into the field Of Legislative com
petition and when once in that field the corpora.
ant-corporate measures in the usual way. but can
even even procure pro-eor%Porate % legislation Any at
to enteT Voluntarily or deensyey into It the field Of
with grave apprehension.
SPECULATION BY CORPORATIONS.
Concedng, If you please, that a daily and public
market for Industrial securities is necessity for
that in the private offces OF any official of a
desk, but also stock exchange ticker separated
from the desk by only a wheel chair. desk and
used by the official one must view this situation
troiled through its management for the purpose Of
advancing depressing the price of its securities
that of a strictly commercial enterprise. ulti-
mately land where it belongs, in the gutter.
sind poos The ' @ @ Of these blnd poois i
tended fer indSstrsl PaFPSssS INTO speaaIa
which develop financial and commercial panics. SO
much of the capital of this country has already
panic In these securities extends beyond the mere
Inn e Of aRR RRe has
The point that electrical energy. advanced a
ence how TO regulate. control and insulate will
bear repetition and renewed application to the in
OF trusts are the essential clements of the indus
had only by an enIightenea pubic opinion followed
by wise legislation. Such public opinion and such
sssla''0n sssss must De '0on's' Oh An0"ie'ss OF the
Publicity in regard to corporations is of two
lie publicity Is not Yet praetsed to any extent by
been to procure it; Private publicity infor-
out TO its fullest extent. knowledge of Immediate
circle a circle less In circumference in many
Guiding ali the ofilcers of the CORPORATION III
Publicity must be secured by legislation either |
must be- uniform among the States Bn
the time is coming when public publicity will be an
combination which seeks its support from the pub
Sound viii avail Itself os fse opnort
nifty TO demonstrate its soundness by public state
position its competitor Who is unwilling and infer.
entially unable &c make the same public showing |
NEED OF PUBLIC CONFIDENCE.
Public confidence is and must be the essential |
element of the success Of any Industrial enterprise.
but knowledge Of the facts. and this knowledge |
way Of statements TO the public for the accuraoy
Of which statements some one is responsible. Let
is principle which can be applied to charitable !
organizations only applied either as theory or a |
success '
the better corporations voluntarily practising
publicity. they would favor statute which secured
not only to the benf Of the hs pubo Moua 10 the
steadying of Industrial finances, to the making of
holders large and small but would aso preven Ss
Formation Of blind pools and various sorts Of in
sial Panies Publicity IS TO industriais what street
hghtins is to munieinaiities 1t promotes legitimate
In the field Of State legislation we find one of the
tions a danger both subjective and objective a
menace noth TO the combination and to the people