The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-06
Power Without Limit.

The Journal S attention has been
called by friends of the merger to an
editorial in the New York Times of Mon
day last entitled ''Not in Restraint Of
Trade" It is a defense of railroad con-
solidation and as a presentation of that
side of the controversy, which the friends
of mergers seem to regard as particularly
well made, this article is given space on
this page to-day.
AS to the pains which the writer takes
to show an increase Of business it is
hardly necessary to say that it Is not to
be expected that the business Of the
merged railroads, carrying the traffic Of
the most rapid developing section of the
country during a period of Unprecedented
prosperity should show a Decline 1t has
never been expected that these roads
would proceed under consolidated condi-
tions to ruin the business built up for
themselves under separate management.
The apologist for the merger does not
tell US anything particularly new in this
article and he repeats an argument upon
which merger advocates have fallen ha elk
since the decision of the court and have
made frequent use Of. He contends that
unless it can be shown that such con-
so'idation does actually operate in re-
straint of trade it is not to be criticized
or objected to, and the action of the court
III emphasizing, as the particularly dam
Eerous and unlawful thing the possession
or power to restrain trade is given par
tlcular prominence In order that it NAV.
) be denounced nd
erect obstacles in the way of commercial
development, based on no other founda
lion than the fear that the possession of
extraordinary power may result in harm
to the public.
And yet the court evidently thought it
matter of considerable Importance that
the law should clothe individuals; with
e power to make or unmake to advance or
retard, to create or destroy the prosperity
of communities and individuals at the
will of one or two persons. It even went
into the considera ton of how such power
might be extended. or. rather might be
further concentrated till one man should
have control of the entire Transportation
business of the country, and the court
seems to have been old fashioned enough,
and SO unsympathetic toward the prin-
ctple of monopoly carried to it's last ex-
Z IRENE as to regard such exercise of it as
something not to be invited or permitted
And thiseis where the apologists of con-
.solidation run off the track every time
They fail to recognize any limitation of
power conferred by the state upon indi-
viduals and corpora tons. They overlook
LIZ g
not only in the minds but in the expert
ence of people between political absolut-
ism and commercial absolutism, and that
+ the world has not yet learned that human
nature, which may not be safely trusted
y with absolute power in politics. may be
trusted with absolute power in. commerce
and until it does the public is not likely
to view with entire complacency the
tendency in that direction. Furthermore
having rid themselves OF absoIutism in
politics. tho often exercised benevoentlv
and for the good of the masses, the peo-
Ssple are not likely to be content TO pass
under the dominion of aosoiutisn, in COM,
merce, no matter how profuse the ass,,r-
ances it may offer OF its ability and Of
its disposition to Go nothing that will
eot rebound to their welfare They can
/ not separate the possession of power for
harm from the danger of it's exercise.