The Honolulu republican. [volume] (Honolulu, T.H.) 1900-1902, 1902-01-23
SUBSCRIPTION RATES.
HONOLULU. h. T.. JAN. %, 1902
COMBINATIONS OF CAPITAL.

As far hack in the history OF the
world as thu time 90 the ancient
Greeks and Romans corporations ami
combinations OF capital were plentl-
mL Under the early Roman law cor
r1-atons could be- formed at the will
81 the promoter without any special
state authorization. There is a rec
ord of O combination in the ION trade
which was established more than >
600 years ago This was before the
days Of protective tariff had develop
"a in any part Of the then known
world.
Aristotle tells us that there was a
man in Syracue in the days OF Diony-
s.gs tho tyrant. who bought all the
iron in the Island OF Sicily. and was
gblo 20 sell il at such prices as he
pleased. and thereby made such
profit when Dionysius. the tyrant.
heard OF this he was pleased with the
ingenuity OF the man. and told him
that he might keep his money. but
that ne had better leave Syracuse"
More than a century ago Blackstone
said when IL is for the advantage
of the public 10 have a particular
right kept on foot or continued. to
construct artificial presence. who may
maintain a perpetual succession and
enjoy a kind OF legal immortality"
the law authorizing corporations
seems certain and proper He pre-
dictcd the need OF this form OF organ.
ization FOR the advantage of the pub
lic."
England's Industrial conditions were
the precursor OF those in the United
States Originally every individual
worked and did business independent
FOR himself Gradually. however. as
the demands Of industry increased
and hroadcned. productive enterprise
was compelled TO concentrate, Capt.
tai appeared and gave employment
90 workers. and so the employing and
employed classes were developed.
Larger enterprises Of manufacture.
mining and commerce called for the
association OF capital in order TO car
" on business TO the best advantage.
Partnerships became common. and to
some extent corporations succeeded
the partnership form of doing bust
ness. This was the condition Of ar
fairs in England down to the begin.
ming OF the eighteenth century
In The United States industrial de-
yolopment began slowly. 1t was re
tsricd by the conditions relating To
the settlement and subjugation OF a
new country. and by adverse English
legislation that. until the beginning OF
their national existence aimed TO re
press an colonial manufacture. When.
however. national independence gave
a stimulus 10 national enterprise. all
forms OF industry went forward with
giant strides In less than onehalf
century We were riyaling the mother
country in the diversity and import
suoe OF our manufacturing activities.
The United States has been notably
nation OF wealth producers and dis
trihutoys. Our history is record OF
mssierly eTort 70 wiring from the
stroneholds OF nature the material
gains that have enriched us. Invent.
i've genius has lishtened the labor OF
hands. and a, the same time increSs-
I'd production and consumption 10 al
most fabulous figures business 81,
gaeity ana enterprise have developed
commercial organization into pow
erful machine. cooperating With labor
and invention for the general good.
The factory system. that was to rev
olutioniEe the labor activity of man
Kind, began to exercise Its influence
in England as early as 1859. when
Watts roller spinning was intro
duced.
FIFTY years ago the mother OF the
household took a week 70 knit pair
OF stockings. and the labor cost put
into them was not more than few
cents. Fifty years ago hand looms !
we're used 10 weave cloth in every
farmhouse throughout the country
Wool was esrded AZ home; rag car
homemade-eovered the floors; !
armers moved their fields with
.cythes: the blacksmith forged the =
lorseshoes for the village; the seam '
tress made the clothes that the girls ;