Omaha daily bee., 1902-04-06

to bear in more practical ways through the
numerous agencies Of government, labor
organizations, associations OF merchants,
consumers leagues and other distributing
agencies who are affected by the operations
Of the trusts. To illustrate, while / deny
to the government either the right or the
power to effectually fix the prices at which
the trust shall sell its products, yet, II the
exactions of the trusts are SNch as to out
rage public opinion, the government can,
at the present day, hold a most effective
weapon over the trusts by changing the
tariff schedules, which in many instances
have furnished a cover for the operations
Of the trusts. One Of the hopeful signs OF
the times is the following extract from the
report to the stockholders Of the United
States Steel company at its first annual
meeting held recently, and submitted to 1t
by its president, Charles M. Schwab:
schwab on Price Question.
"The demand for the products of the sew
eral companies has been so great that prices
could easily have been advanced. Indeed,
higher prices have been voluntarily offered
by consumers who were anxious for imme-
date execution Of orders, but the companies
have firmly maintained the position Of not
advancing prices, believing that the exist
ing prices were sufficient to yield a fair re-
turn on capital and maintain the properties
In satisfactory physical condition, and that
the many collateral advantages to be gained
In the long run by refusing to advance
prices would be of substantial an. lasting
value, not only to the companies, but also
to the general business interests Of the
country.
THE strong position thus taken by the
companies for stability in prices, both of raw
material and finished products, has had a
reassuring effect on the trade and has con-
tributed greatly toward restoring confidence
in the general business situation and Great
ing the present large demand for steel prod
ucts, by dispelling any doubt as to prices in
the future"
This may be regarded in one OF two ways.
1t may be said that IT is a mere sop to pub
lie opinion and is not sincere, but in that
case 1t shows an important Difference to
public opinion and a vital change from the
time when the managers Of a large bust
ness were brutally Indifferent to the public
thought. Upon the other hand, II may be.
and most probably is. a statement made in
good faith by the managers to their in
vestors outlining the actual policy of the
corporation.
II may recur again to the parallel be-
tween political and Industrial organisms, we
are reminded that when stable governments
were first instituted among men they were
necessarily despotie and arbitrary, and no
doubt those who believed in individualism
viewed with serious alarm the growth and
establishment Of government by reason Of
the vast power which can be exerted by the
government forces as against the individual.
But as governments progressed the rights
Of the Individual as against the government
have become more and more respected and
the force OF public opinion has operated
even upon the most despotic and arbitrary
governments. In like manner we have rea-
son to think that the power which the
trusts may seem to enjoy cannot long be
welded by them. but must in time give way
to modifying influences.
Doubt Prophecy of
II there is one thing more than another
that we should be slow In accepting II is
the prophecy Of dangers to arise from newly
formed conditions. Tacitus says: The
unknown always seems terrifying" When
a new condition arises we are prone to fore
see its dangers and overlook the modifying
influences that will check those dangers,
In such case the tendency Is great to call
upon the government to use its supposed
powers 10 remove the entire condition out
Of which the threatened danger may grow.
II would indeed be a very interesting study
to examine into the history OF the appli-
ances and Institutions which have grown
In the face Of popular prejudice and in
spite Of adverse legislation. To recur 20
one familiar Instance Of this, / may say
that one OF the most valuable agencies in