The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-01-11
COMPETITION BY FORCE
JUDGE p. s. GROSSCUP DOES NOT
AGREE WITH MIR. KNOX.
Courts, He Says, Cannot BE Effective
I'm Promoting Competition I'm Or
der to Restrict Trusts.

CHICAGO, Jan. 1o.-"Our industries in
process of development; neither destroy nor
arrest them, but popularize them,'' was the
topic of Peter S. Grosscup, judge of the
United States Circuit Court. at banquet
given by the Hamilton Club tonight.
Judge Grosscup said in part:
1.-The attorney general has outlined his
views and perhaps the views of the present
administration. / regret that the sugges-
tions thus made do not, as / conceive it,
go to the core of the disorders. The main
purpose appears to be nurtured against the
so-called trusts, competition by individuals.
They lay. as far as the letters indicate. no
condition or restriction upon consolidation,
present or future. They would let the con-
solidations alone, but foil their efforts
for monopoly by the individual competitors
raised up.
"I believe the attorney general overesti-
mates the efficiency of court proceedings
in his purpose to compel men to compete.
In actual results, whatever may be their
fidelity to the law. courts are almost as
helpless in commanding men to compete.
who do not wish to compete, as our parents
in seeking to compel young people to live
apart, who wish to live together; or the
law in commanding husband and wife to
live together who are determined to live
apart.
But considering the raising up of COM
petitors as the main purpose of trust legis-
lation, the proposals of the attorney gen.
eral miss, in my judgment, the only natural
and effective remedy at hand. The real
competitor of the future must be- itself, a
great corporation. Individuals can do little
against their antagonists. But to raise up
such competitors requires that convertible
capital should be within CALL The oppor-
tunity, however enticing is empty unless
there be the means. Now the wealth be-
longing to the people at large though suf-
ficient If modified to replace one half of
our manufacturers, is not, on present con-
ditiOns of organization and management OF
industrial corporations. within summons.
True it is, in some measure. already in the
industries; but IL is there as loaned capital;
and the men who have borrowed ii, and the
only men who can in the future borrow 1T,
are men largely interested in the present
consultations. Indeed, the real monopoly
behind the present consolidation is the
monopoly of convertible capital. Give Sc
curity to the people i'm the matter of invest
ments. made by themselves directly as indi-
viduals, and this monopoly will disapper,
and competition be restored TO its natural
field from which to recruit and organize it's
financial forces. But though beyond all
measure desirable purpose. competition
should not be made the main purpose of
trust legislation. Nor must the true friends
of industrial liberty allow ii to jostle US
out of the solid ground on which we should
plant ourselves. The renationalization Of
our industries is the chief concern of the
hour: and industrial liberty, grounded on
popular proprietorship is true industrial
naturalization. IT should be made to the
cause of every friend of industrial liberty
and of every believer in the institution Of
property 1t should command the support
of every man with hopeful future 1t
should command the support of every Amer
lean who loves his country. not sordidly or
out of selfish gratitude. but for the ideals
and opportunities that have always been
associated with her name. IL should be
made the cause of the true American ma
tiona1ist'