New-York tribune., 1902-05-28

opinion they to wait till the common people,
under the hard knocks of experience, have thought
the problem out tor them?
NATIONAL CONTROL SUGGESTED.
The trusts have shown themselves to be not
State but national organizations, at least in their
operations. State legislation has utterly failed to
offer any effective remedy for trust evils Economic
science and Industrial history prove that the trust
form of organization /. large scale production
with unified management and control of the major
part of an industry. is the most economical form
Of production yet devised; that the trust has the
greatest possible powers of producing wealth
cheapy, lowering prices. rewarding labor largely;
Of regulating the output Of commodities 10 meet
the real demand; of preventing glut and business
crisis; Of distributing the ownership Of capital and
the earnings of business most widely among the
people Of the country. In other words, economic
science proves that the organization of in
dustry n grand scale under unified management
and control at least for many great industries. has
the power to confer the greatest possible beh'nt
upon labor and capital employer and employe,
But economic sccree does not stop there. 1t also
prorcs that the trust form OF Industrial organza-
everybody else. Like every other organization
with great power, it has opportunities and induce
ments to abrse that power Industrial organiza-
ton differs in no respect here from political or
even relisi9us organizations Where there is power
here tnat the people have been misled with re-
tot 20 tRG & m M o sood S
conclusion therefore that it is all. or on the whole
evil, is not unnatural.
FEW DETAILS
Now the question comes Are the business men
OF the United States at present wise enough and
honest enough TO be trusted with such powers as
this Industrial organization places in their
hands? I answer. Yes; providing place rea-
sonahle limitations and checks upon them. provid-
ing We give them sufficient latitude and discretion
TO accomplish legitimate ends and no more How
expect that men in places of industrial
power will conduct themselves more wisely and
honestly than men In other places of power. II
~ Tfa.1t how thalr
Hticai economy. a s well practical common sense,
proves that the permanent and largest interests of
the trusts under free development and without
limitations checks in the line OF strictly
honest business management. But political sci
ence and practical politics also show that the
permanent interests Of public officials are in the
line OF integrity and patriotic service. That how
ever Is no deterrent TO the evI disposed IN punllt
ONCE. VINO may 40 as they please; race the uuSi
under such legal restraint and Limitation as will
prevent abuses IN OvercapitalizatiOn, ConCea!ment
of facts that should be known to stockholders and
investors, the fixing OF unreasonable prices ana
publicaton Of the facts of organzation and opera
qn @ st an m S tam tam
pOrary and local lowering OF prices by the trust
OF preventing competition When the trust lowers
the price for that purpose compel 1t 10 do so uni
Remove the tariff and let in foreign competition
where commodities are practically m monoPollztsd and
where they raise prices unreasonably. Make the
cumstances. Do these things. and. believe,
solve the trust problem. We don't kill the trust.
harm a M0 We kin the disease and keep the patient
for all 1t is worth. Do these things, and we will
do business solely on the basis of economic supe-
riority. The trust will be forced TO compete fairly.
and II Il survives in the struggle IL will survive
because Il can be of greater benefit 10 its stock
holders and the public. 10 labor and capital, than
How NAV these things be done? Not by setting
forty-six different States Independently at work
Iation did solve the railway problem. In de-
spair the States gave that over to the federal gov
discovering too that they have not yet given the
federal government sufficient power TO effect any
settlement. At least Congress has not given such
power The Industrial trust is as much an inter
state organization and as much dependent upon
never be satisfactorily controlled by the separate
States. The trust must be forced to incorporate
fix tho terms and conditions OF It's existence ana
operation. TO define Its liabilities and duties The
fully and effectively be brought to bear In trust
competition except under conditions OF federal IN
corporate. the federal government can fix the con
Gtions TO publicity capitalization railway rates
The policy here suggested in outline l would not not
the one that should now be adopted:
In conclusion. believe that the vital interest of
sumner, investor and employer, demands the imme-
date f0rmuiston or With }rst % Dres
cnnntry' Promiscuous legislation by the States.
useless. but positively injurious
is idle to look to % bGydr for Tef fb e
ton till 1t smells to heaven and then swoop down
70 Fs 6 Re work IL It IS DONE n6
lcans are retain their reputation and their hold
upon the people, they RHs f2 1t E. veFL LA%RNs
Professor of political economy. Syracuse Uni
Syracuse N Y. May "a. 1902
mo REORGANIZERS'' THEIR BATTLE CRY