The weekly examiner., 1901-05-04
A NEW GREAT POWER
CONSIDER THE GIANT STEEL TRUST
 FROM A NEW STANDPOINT.

If the Workers In the Industry VIII
 Only Follow the Capita1ists' Ex-
 ample, They Will Be the Real and Permanent Masters. The steel trust has come. All the steel work of the country is in one company in the directing hands of one set of men. The universal railroad trust is com ing Every day brings us nearer it's completion.
 Legislation against trusts is about as effective as broom against the ocean. It is settled definitely in America that the stage of competition is past and that hereafter every great industry and possibly all great industries are to be managed under a single financial headship.
 We ask you today to consider ear nestly the giant trust from a new standpoint. We shall take the steel trust-frst born of the billion dollar class-for individual study.
 Who is the real head, the permanent head, of the steel trust?
 Do you say J. Pierpont Morgan?
 Wrong.
 He arranged the financial deal which sold to the public various steel con- cerns for ten times. what they cost. He was paid a commission of S13OOO,- 900 or $14,000,O00 for his 40 days work at organizing, and that limits his head ship of the steel trust.
 Do you say John D. Rockefeller?
 Still wrong. Rockefeller's genius for monopoly un- doubtedly conceived the great trust. Only his financial strength could have carried out the great undertaking. Nor gan acted as Rockefeller's agent, and Rockefeller's pocket controls the trusts future in so far as mere finance can control 1t.
 But not Morgan. or Rockefeller or all the power of all the banks and of all the great fortunes controls the steel trust now that it is born.
 The ruler of the steel trust is the man who can control the tens of thousands and hundreds of thousands of human beings engaged in the production of steel.
 The great financiers have congratu- lated themselves on putting all their eggs in one basket. They view with delight situation which puts at their mercy all industries dependent on steel
 But they deceive themselves, and an awakening is ahead of them.
 They have staked $1, 100, 100000 on one single set of workingmen.
 To pay interest on their vast capital they must earn more than $7O,OOO, ,OOO a year.
 Their trust can only exist, they can only pay those dividends, so long as their array of workmen consent to make steel ssA ssss<ssazz
 They have put all the steel plants into one organization. sN
 They have also put all the steel work men into one organization.
 The capable leader of that vast army of men may not be visible today. But be is bound to appear.
 Great opportunity always finds the great man.
 When the man shall appear capable of acting as leader of the steelmakers, you will see the head of the steel trust and not before.
 When 100 concerns made steel a strike in one concern meant little. Ninety-nine concerns were at work.
 But Rockefeller's genius has. forced every able steelmaker into one great organization.
 How will Rockefeller's genius reply when he shall find himself confronted by leader able to say:
 MT. Rockefeller, I represent all the in h1Q of making steel I am therefore, as you will easi- ly understand, the head of the steel trust, and hereafter, unless you want your $1,1OO,OOO,OOO to melt, unless you want your dividends to stop, unless you want such a panic as this coun- try has never seen, you will please take my instructions as to the steel trust management. My orders are those of the real steel trust, of the men who make the Steel"
 The manufacturers of trusts have manufactured without knowing it a giant that may pursue them as Frank enstein's giant pursued him.
 A vast power is this power of labor monopoly and one that may be as dan gerous. more dangerous, than all the monopolies of finance.
 It is to be hoped that wise leaders will be found by the great armies brought together by trust formation.
 It is to be hoped that stock specula- tors may not succeed in manipulating these forces and that private ambition or conceit may not misuse them.
 Great new problems confront the peo- pie in this trust age.
 The greatest of these is not the prob lem of financial control.
 It is the problem presented by the possibilities of a labor trust more dan gerous and aggressive than any other. New York Journal.