The daily silver state. [volume] (Winnemucca, Nev.) 1903-1907, 1903-07-22
the END or THE TRUSTS


In a general conversation on eco
romIc subjects the other day the
Question was asked: What will be-
come of the trusts"
That is a question which is very
apt to come up in n discussion OF
existing industrial conditions. II Is
a hard one TO answer specifically, yet
the resent trend OF Law and business
In connection with a ~philosophic view
OF the matter, indicate a general an
swer.
Herbert Spencer, In the course of
his Synthetic Philosophy" wrote
a chapter on The Evanescence Of
Evil" Therein he wrote how evil
tends TO correct itself, because it is
evil and contrary to the welfare Of
society. Good vindicates its right
TO p~erpetuation.
Compare that philosophical deduc-
ton with what Ia actually going on
in connection with the trusts.
Not long ago the Mercury publish
ed an article showing how many
trusts organized in New Jersey, repre-
senting millions Of capitalization,
had forfeited their charters simply
because they had not the means. OF
did not consider 1t worth while. To
hold them and pay the dues required
by that state.
Recently a number OF big trusts
have got into trouble by inability to
carry the burden OF watered stock
and other obligations they have as
sumed. They have bitten of more
than they can chew" They cannot
make profits, consequently they have
no reason for being. Just so far as
they are over-capitallzed they are in
danger from competitors not so hand
icapped. No trust can long endure
unless Ia can produce more cheaply
than competitors. or can control some
natural monopoly. patent or means OF
transportation.
Furthermore, the trusts have lately
been getting into serious trouble
with Law. 1t has been decided In
several cases by the courts that Ger.
tain combinations we're Illegal, as In
restraint NJ frada D-aan1n.Na 49,
being established almost from day tc
day which will eventually subject the
trusts to such regulations as will pre-
vent them from unduly encroachine
upon the rights of their neighbors
and competitors. The people and the
courts are coming to appreciate the
fact mat n proper function OF gov
eminent is to guarantee to every man
firm or corporation only such rights as
do not conflict with the equal rights
of others.
In view OF all these considerations
philosophical, business and legal, the
answer to the question, What will
become of the trusts" Is within
reach. What lis evil in them will be
gradually eliminated by the opera
ton of sociological. business and
statute law. What is good In them
will vindicate itself by experience and
survive.
That there is good In them, no
thoughtful person will dispute. That
they maks. or can be made to make,
for economy and efficiency in many
lines Of production, is indisputable.
That. rightly managed, they will be
a powerful check upon influences
which tend to periodical imitation and
depression is altogether probable.
People are prone TO have too little
faith in the average sanity OF society.
They personally see that things are
going wrong in some respects, but for
get that some millions of their fellow
men are seeing very much the same
thing, and that millions OF minds are
seeking a remedy. Instead OF await
ing with confidence the operation Of
the power OF public opinion exerted IL
all directions in correction of evil,
they become pessimestic and i'm
patient and either give up the prob