The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-08-22
Remedy for Trusts.

Editor Of The Timcs-Dispatch:
s!r-Will you permit farmer to give
his views concerning the much-olscusscu
The word trust does not In Its ordinary
meaning convey the significance when 10
now associated with It. When we speak
of the sugar trust, tho peer .IusI' ny ~
steel trust. etc. We mean to assert tnat
these various industries are conducted ~
corporations, which have by legal meth-
DDS secured a MONOPOLY OF the business
in their particular departmcntfs E 1s
The regulation OF these monopolies oy
law is rendered extremely difficult by oIr
peculiar form OF government, ana ~ -
difficult to suggest any remeay Wn ,io va ~
ty age. II the general government uN-
dertnkes to regulate them. the trust ma :,
ayers Immediately shield themselves DC,
States Stat rights. II the States try to regu--
late them tho regulation Is lnerectve,
because the general government alotie uaa
the power TO regulate lnterstsa1te COM IN.
count of diversity OF interests to get the
different States to enact uniform criminal
laws And beside all this, is the IA
that a large number o. OF our ao,, G netit;on
I means waste that 1t is an economical! 1ol-
L is to ass en- n task to six or seven men men
Which would be short work for one. ne
number OF individuals, for NATION. IS
to procure wealth with as little work as
possible. Combination as opposed 20 coin.
petition means the Largest oh I9 heo M,t y
Of competition on the one hand a nd, the ne
beauty and ugliness Of combination on
the other can be summed up IN rev
words Competitor m meahs CO. comb!naton
n mans the least cost and the greatest
price. ,,orro with COM
Wailing the waste OF labor without md !. !.
l hut viii finally. embrace combination o., on
account Of the immense , snv'n n1se ot t iI,
hishest price by remedy for which we
at Th noM true Conditions Of competition and
monopoly are mueh Srsof hy tb W lconstantIy
| reiterated assertions Of our most lnte!i
gent leaders OF thought. the ed!tors OF our
daily papers such as The Times Dispatch
Whenever Mr.. Rockefeller, the head OF
the Standard OIL trust, donates q large
sum Of money to a charltaple lnStl.uetu,, |.
the assert!ons maze sa tn ~ no nr Mt,' Of
81 long as that idea prevails-!n the minds MING,
| Of the teachers and leaders OF thousn' !,
50 long will it DO Impossible 70 arrive NJ ~
i must understand the conditions Of the
problem in order to correctly solve It,,
Tho STANDARD on Company are IN th ma.
| business IN order 10 h!hkt Wy ''on. , 80, ~
| The business and can fix any price for
their products. If they ask no more than
| Tie cost OF production. they VIII not Taxe
! enoormous;.I they ask an egreslously high
| nrice, they will make nothing, because
| their sales will be REDUCED 70 the nm, ~.
iha nrice at Which the largest profits in
] t III, agHregate, are made, taking time and
pl ta Elm into Consideration, That price Is alb,
soutey xed ana M NoqEIe'er h Y co 81
o. o. n T,,a,t d It. Any variation from that
price either zip or, down means the loss o.
| money. Il - ,oo !, s,y +ba+ al
~, ~ tines ana in all places the prices q
commeaIties made by the trusts are fxoa,
but what mean 70 assert Is ,m rticI se i'm
GGa ar m snvis is nct a factor in making
beyopd the cost. that other factors have 9
S Svsinass IS Conducted under the condi;
i Mons Of keen competition, the. cost OF
nrotduction is the chief factor In deternin-
ms the price no s fo o. o ~" cost be-,
comse or unfavorable circumstances; oth-
! ers' more favorably located. make far
profit But these lat.eG i th 70 eW
eeoo con ntinlic The cost Of making goods
~ those factor es which have been pare,
~ snlleezed out of business determines
the price Cor the favorahly located cons
'e IL therefore. for any reason there y y
Goods 60 1 made made under competing eond ,tlop r.
then this Increase can be and 81 b VII, , rs
ereasins competition, because tho un ,la
yorably located factories are IN no pei pet
ter Condition te DO business a .aIR ihs at
t Te.e eoncius,ons, VIZ, cost governs prlce
Under Competition; but cost does m0t
VI s,oyern price under monopoly, ~ Sou