Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-01-31

- ,,o-gaas steel trust is a com,
" A' - otbcr trusts. The great
W.. W.. h that formed the constituent l,.nt
sa'' $, ' ~. trusts were the, them. oa,e
pIi' u ordinations rl Of smaller organ
~is' 'y !. came Of which Mr. Morgan
,,od had q hand. IT was no new
=, y . y" neither is it the last WORD
x '''' ID # does not include the
wv - =, ,bs iron and steel Industry oil
w S. ~ states. Only within the last
VI ,',. there have been rumors OF the
's,,assion of a new steel trust % ,na ni Is
combination of some oil the pls
s'. y which MI Morgan did not
~ W. theory Of the ,rust is that the
,g !, Of rival interests eliml-
y. competition and keeps up prices
"a i,o argued that by centraliza-
=. : >, rontroI and administration econ
ies may be Effected -.
- ,bls latter contention, II Is at
!. " o,s"able that against whatever
no. sayed by the abolition OF re-
,n, officers has 70 be set the new
q . aS"' NJ EXPENSE (which the fact OF
l Jastion introduces cost OF
~ Sinstion and the profit, or remuner-
IN ar punder-howeyef II may De
.d-of the combiner. Mr.. Morgan
Y sot eject combinations Tor ms
80 a. the Americans say, ana II
~ n MS trusts renders unnecessary
~ smpIoymsnt Of a number OF high
~ "A EXPERTS II implies the necessity
%Figbly remunerating himself IL IL
=. KIN open 10 argument whether the
~ auction Of the element OF the new
~ ma into any industry effects any
~ saving in administration, ana THIS
x :, ironi other considerations,
~ ere Is a limit TO the administrative
al sclty OF any one man. The finances
IN great Industry may be central
y, m q bank parlor, but the Industry
,. I cannot be centralized. II 1t were
rn,lbe to move the mines ana
smtItne plants and FORCES Of the state
n Pennsylvania and bring them to-
s.,fsr lnto one view It might be possl-
N 70, one man to control them. But II
Nm and the abest man In all Amel-
"A suffers nervous breakdown in the
siifmp, Whatever wastage the dis
pkfed system OF independent competi-
IA Industries implied II also assured
IA economies as come from direct
a s0nal proprletorial control What
"a economies the new system may
IAN 10 effect in administration, it also
ietlss oil the wastages that come of
ia absence Of direct authoritative pro-
" loral control. There are a thou
- edkage,. a thousand sources of
nm possible IN factory controlled
" foreman, which are impossible OF
tkrdon 10 a chief sitting In an office a
hahdred miles away and suffering from
nqyous prostratlon,
u fact, the economies Of great In
lttlial combinations though they look
,ey well on paper, need TO prove them
ne In practice before they can be
,tepttl
u return to the first proposition, that
b TIE elimination Of competition prices
1iy Be maintained at a level OF high
<bft On the face Of 1t this is the
N plest and most selt-eyident OF prop
Ntlcna But il hardly states the facts.
lh elimination Of competition implies
y establishment Of a monopoly, ,and
Ne steel trust has not by any means
Naolshed a monopoly.
~ establishment Of a monopoly has
NJ be dream Of the imaginative and
noluous producer ever since modern
mstflallsm began. But a permanent
Hlopoly 30 any commodity Of univer-
Z consumption never has been estab-
Rd' and In the nature Of things new
you ue' commodities OF universal
assumption are necessarily commodl-
Z Of free and lllimltable production.
y ana ron and wheat are not from
"a natures and properties lndispen-
~ 10 man. II is their abundance and
4 phess that make their supreme
U ana Importance. The very fact
4 hey are among the daily neces-
II Of He Implies q universal profu-
Y o. production that excludes the
y Of monopoly.
. 9organs trust has not establish
$40 no one ever viii establish. a
y ,pg l, OF NE iron and steel Industry
iht United States.
IL lroR and steel industry Of that
" @ha Is as yet only in its imma-