The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1903-09-01

erty.
The book was answered by another
which was called Looking Further
Backward" and the answering book tells
how the lovely condition OF things which
Bellamy painted came to an end. The
people who never took the lnitiative<In-
ally lost all power OF taking it. They had
Travelled in ruts until they could not
travel outside of a rut. New conditions
arose. Another nation which had retain
ca the misunderstanding power assailed the
nation which had lost that power and
there could be but one result.
Ii our nation should ever come to the
point where combination has gone to the
extreme limit and there i but one en-
plcyer OF labor, one exploiter Of industry
III all the United States. we should be
very near to the condition OF socialism
described by Edward Bethany. except that
the employer would be a private corpora
.uon within the state instead Of The state
itself-a distinction which would be en-
tirely IN favor OF the Edward Bellamy
deal.
If there must be an industrial dcSpot.
it seems clear that it is better that il
should be the state itself than the states
CT feature.
Combination and the resulting monopoly
lead straight to socialism. Il the time
ever comes when there is only one or
4 dozen corporations controlling the IN
dCstrles of this great land and having
tier directors and managers elected by
the stockholders, 1t will be but a very
easy step to leglslate that those directors
and managers shall be elected by the
people instead of by the stockholders, and
constitutional restrictions would be i'm
potent to stay the storm OF such legis
lGtion.
We believe in our individualistic civil
~zation. 1t has been the ladder by which
the race has climbed to its present
heights. 1t has been a rough teacher,
but it has taught US the lessons we could
have learned IN no other way. 1t has
given us what we lave and made US
what we are. 1t is that, and that alone,
that separates Us from our troglodyte
ancestors. We believe in ~clinging to that
civilization that has done SO much for US
and to the teacher that has taught US so
well. We fear socialism. We have no
desire to live IN a world where It pre-
walls. We are not willing to give up the
privilege Of taking the initiative for our
selves or to live IN the society OF men
who have not the power to take it for
lllCI1SClN Is. L | ID LIST "C GIe OIDOSCd
to socialism; it is because we believe in
the economic virtue of our industrial sys-
tine that we regard the modern tendency 20
combination and monopoly as the greatest
danger that has ever threatened our race.
We must curb this tendency even though
we do pay more for bread and meat and
clothes and have less of the physical
comforts and Injuries of life. We can
not afford to barter our manhood for all
the physical comforts in the world. We
cannot afford to allow these combinations
and monopolies to so unlimited and IN
restrained, no matter how great may be
their economic righteousness. Economic
gain must yield to the requirements Of
patriotic manhood.
The evil, however. is more apparent
than the remedy is easy to find.
Whatever remedy we adopt must be
such as fits the disease. We have found
competition to be necessary to the vel
fare of the nation and the best good of
the people. The destruction of competl-
ton is therefore the disease. It's restOra-
ton is the cure. The question IS, What
can the law and lawyers do to effect the
cure? What is the duty of the American
Bar Association in this regard?
There are some things the law cannot
40. IL Cdllllbt NJ = w -
things. 1t must make the things which
it does not wish done uneconomic. 1t
cannot compel men to sell their wares
at a loss, to pay Improbable wages or
to adopt unbusincss-like methods. If It
could and did, it would destroy the basis
of competition and do harm rather than
good. The men who combine when com
b~ination is profitable are not criminals.
They are simply astute men who are do
ing business on business principles, fol-
lowing out the logic of our civilization.
The man who would sell calico at four
cents a yard when he could get five cents
would not be 4 philanthropist. but a fool.
The man who pays two dollars a day
wages when he can get the same thing
done for a dollar and a half IS not q pub
lie henefactor. but a public demoralizer.
The two men who combine their trade
when there is a profit in the combination
are following lines on which the conduct
OF all business depends.
The remedy is not to punish prosperity
or to try to make things crlnIna that
are not SO. The remedy should be found
IL making 1T Improbable to DO that
which the community determines should
not be done.
Laws now on the statute book, like the
Sherman ANTITRUST Law ana tno leglS-
lation of the last Congress which attempt
ed to re-enforce it, are IN our judgment Of
little avail. They will work once, but
it is doubtful if they will ever work
| again. The combinations that are here
after made in the light OF the Northern
Securities decision will be combinations
that do not come up against the law. If
che railroad company had simply bought
the stock of the other, or II the owners
OF the stock of one bought the stock OF
the other and then the JOINT owners OF
the stocks of the two companies refused
&c let the companies compete, the law
would be powerless. The law cannot
make two railroads engage ID uneconomic
competition when the dividends of each
company 60 into the same pockets any
more than it can make two neighboring
groceries compete after the owner of the
one has bought out the other. Whatever
nay be the fate of the Northern Securi-
ties case, the field of its usefulness will
at the most. IN our opinion, be very linn
tied. When the first Sugar Trust was
organized a decision was given by the