The Owosso times. (Owosso, Mich.) 1897-1926, 1903-02-27

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The most interesting session OF the
round up to residents OF this city, as
we'll as to the visitors who look be-
yond the rotation Of crops and other
technical problems, was that of Wed
nesday evening Political science had
it's ianing. Attracted by the fact that a
quartet OF brainy instructors from the
University OF Michigan were the
speakers, business and professional
men OF the city mingled with the visit
ors at the armory. There was the
largest turnout OF the week.
George B. Horton, of Fruit Ridge,
Master of the State Grange presided.
Although all the speakers were given
the closest attention, Prof. Brewster's
talk on the Torrens sy~tem of land
transfers was Of the greatest local In.
terest as Senator A. B. Cook, of Maple
River, has introduced bill at Lansing
for the adoption OF the Torrens sys-
tenn in Michigan.
The Octopus.
The question of TRUSTS was dis
cussed by Prof. n. G. Adams, OF the
University of Michigan. A trust, he
explained, is an industry which on &C.
count Of size or organization dominates
the manufacture or the sale of any ar
ticle. This excludes railroads and re-
moves the idea OF size, for an industry
which, though small, dominates the
industry. Domination is the arbitra-
ry determination of price.
An industry which fails to be con-
trolled by competitionsshould be ruled
by the state. The trusts we now know
are mergers or organizations of combi-
nations. Their prime aim is to rise
superior to competition. There have
I; three steps in the organization Of the
trusts: First, an agreement as to
prices and territory; second, the piac
ing OF stock In the hands of trustees
these trustees voting common board
OF directors to direct the affairs Of all
concerns; third, the gigantic corpora.
tions. The first two forms are un-
doubtedly illegal.
What can we say In defense Of
trusts Some say trusts are natural
evolution, the survivors of competi-
tion. My answer: That does not
prove they are public advantage.
Every step OF industrial evolution IN
the past has BEEN accompanied by an
evolution in law to keep pace with it,.
This should be true Of the future.
Some say they cheaper production
and make the price less to the consul.
mer. You realize the full advantage
Of cheapness and efficiency in many
industries much smaller than the
trust. Beyond a certain point cheap.
ness does not go on. Let us hold the
trusts at just that point.
Others say the trusts are the out
growth of bad times. They claim
, commercial depression occurs because
the supply outruns the demand and
the trusts adjust the supply to the de-
mand. 1t is a pernicious doctrine to
curtail the supply below the physical
demands of the people. Instead, the
true policy is to create widespread
demand for the supply. Competition
produced the magnificent industrial
development Of the nineteenth centu-
ry. Throttle competition and you
throttle invention,
1t is also said that trusts do not de.
stroy competition because there is al
ways potential competition, which al.
lows those with money II the trusts
bear down too hard to enter into the
same line Of business.
The trusts force form of competi-
tion through Observation-Disclosures is,