Corvallis gazette. [volume] (Corvallis, Benton County, Or.) 1900-1909, 1902-01-28
ORVALLIS GAZETTE.
TUESDAY, JANUARY 2S, 1902.
TRUSTS.

Captlyate votes; sometimes, how
ever, for more substantial reasons.
Who does not remember the evils
that it was said threatened the
people from corporations and then
by monopolies? Yet it is plain
to all close observers, that with
out corporations, the large busi-
ness interests of the country
would lie dormant. But WHEN
small amounts of capital are asso-
ciated and the aggregation han
died by organized corporations,
anything in a business way can
be accomplished that the mind OF
man can determine. These 81
gantic enterprises give millions of
1aborers steady employment,
many of whom must otherwise
be idle.
The small amounts may be
contributed and the shares held by
widow, orphan and wage-earner
as we'll as the capitalist, and yet,
when organized under a corpora
ton, the politician pours forth
his forebodings.
The term monopoly has become
politically so ridiculous that even
the small boy smiles at the poll
t;cian who inagines the people
so easily frightened. To some,
however, trusts have presented
alarming conditions. 1t remains
to develop whether trusts will
damage or benefit the people.
The process of smaller capital
lists pooling their money and ef-
forts and forming partnerships
and corporations in order to con-
d"ct larger business concerns
than could be handled by them
individually, is somewhat similar
in form and purpose to the pres
ent policy of small corporations
uniting their capital and energies
in order to conduct still larger
business affairs than any one of
them could handle alone These
greater combinations are called
trusts. One alarmist, however,
rushes to the conclusion that the
trusts will consume the country
and injure the people, and
straightway advises the enact
ment of laws prohibiting the
formation of trusts. Another
says government ownership is
the proper remedy. Both sag
gestions appear to many to be
impracticable.
1t is difficult to ascertain how
the formation of concerns con-
trolling aggregated capital can
be prevented. Where will you
draw the line? Will you COM
mence and abolish all partner
ships, corporations and the larger
concerns called trusts? Many
believe that the trusts, being 50
large, may use their power to in
jura or Cypress the general pub
lie unless controlled. All admit
that if managed literally they
can be conducted at proportion
ately less expense than can each
small corporation acting seperate-
ly. What then is the proper ac-
ton to take regarding them?
Considering corporations and
trusts from a legal standpoint,
they are formed under laws en-
noted by some state or by the
United States. The law-making
power having created them, it
has always been conceded and so
held by the courts that the
same power has the right to
control them and prescribe such
as shall prevent them
from so exercising their functions
as to linjure the public, and by
necessary and reasonable regula-
lions to make them instruments
for doing good. If, for instance,
the railroad companies combine
Ind charge excessive rates the
aw CAN be made to prescribe
lealthful and reasonable rates.
+ they shall discharge their COM
,etent help to such an extent as
o render their service dangerous
o life or the public veal, the
aw can prescribe regulations
them guard the points
nd dangers which lead to an
farming number of wrecks and
Ccidents. :
The state of Oregon, through {
Ter legislature, prescribes the s
ate of passenger fare on rail l.
Dads, and the requirements
7hich insurance companies doing
usiness in the state must observe.
)ther or similar regulations can
c imposed upon other classes of
usiness operated by corporations .
+ trusts organized under the law. c
'hese remedies can be made GER