New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-07-11
TRUSTS OF CAPITAL AND LABOR.
MORE DANGER IN THE LATTER THAN
IN THE FORMER.
o the Editor Of The Tribune.

To the Editor OF The Tribune.
Sir: If the newspaper reports correct, an ef-
fort is certain 20 be made when Congress comes
together again to enact far reaching and perhaps
drastic legislation in regard to the trusts Publicity
and certain general reasonable regulations are UNI
doubtedly needed, but have yet reached the
stage when It has become apparent that laws
which would be hostile to them are necessary, and
is ii certain that that time will come? II
seems to be assumed that such legislation is needed
at once.
The trusts represent a stage OF development
and are manifestly essential in some form to the
transaction Of the vastly increased volume Of bust
which has grown up. Without them IL Is safe
TO say that should not have secured pres
ent share OF foreign trade, and there some
thinkers who believe they will in the end prove
beneficial both TO labor and the general public.
We are naturally impatient under any conditions
which seem 10 foster the accumulation Of wealth
and the concentration OF consequent power in few
hands which and prone rush
to legislation for remedies which are likely
work themselves out. If may judge by the
past, under the operation Of natural commercial
and social laws. much more effectively and with
less disturbance than if we interfere.
There were conditions OF hardship and depression
previous TO Mckipleys first election. and nearly
half the people of the country, under the stress OF
them, were persuaded that giving Us
silver coinage at 10 10 would remedy # all Time
has shown that the attempt would have been dis
asrous and that il only necessary 10 give the
natural laws Of trade and finance opportunity to
assert themselves to brlns everything straight 1t
took time. and the result vastly better than
II there had been legislative interference. What
legislation there was called for only to give
confidence that there would be interference The
81 he 6eef that hey tend TO erdT 10
but it is yet to be shown that except under very
exceptional circumstances such thing IS possible.
Copper production two years ago Was in few
OF new capital attracted 10 it, and there fol-
lowed heavy drop in prices steel production is
now very profitable. and in spite Of its great com
bination new capital ~ rapidly gong INTO II, and
competition and lower prices Wih surely follow. 1t
are no artificial restrictions, with its immense
OF trade, especially if it be profitable New cap
ital is sure 70 rush IN ana believe it will 6e bet
tiers do not readjust themselves naturally. as they
ng Gs6rreetive it~saton whe6 may disastroasy
check the whole movement; WIN it not be well 10
steps, steps, very '-'''9- ' ''e ~ ''-''s''~s''''
Congress against the restraint of trade by capt
nor any legislation suggested in regard to the
labor combinations ~hieR are conslanty and need
substantial cause. not only interfering with trade.
rdine ali law and destroying property AMI life.
How would it be possible TO bring about such
disastrous restraint OF commerce and mauufacture
Which Gar Mitchell threatens the country if his
il is said that III attorney General and Mr.,
meT 10 Gufn ' nr0yiso9 which viii crb {ey Ul
add TO SOM yrannjca mower ue ihT mon
abor unions exercised in restraint OF in
Ter disregard of tho public. and can they not
somehow provide that every American citizen shall
he able To- work Whenever, wherever and for
whatever he plaa$es, without hindrance molesta-
tion? That he cannot do SO now anywhere appears
10 me to be much more of reproacb and
q menace to our future than any condition which
the trusts have brought upon US. There new,
delicate and difficult questions in both these di-
rections but why should all official zeal be expend-
ed on one alone? Why is there such activity In
one and such supneness in the other? If for either
should not remedies be sought at the time
for the evils connected with both?
" ARCHIBALD HOPKINS