The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-08-28


the principal topic of discussion at to-day's
session Of the American Bar Association.
Though no definite action had been taken
late tonight, remedies had been proposed
for existing economic evils which may yet
become embodied in statutes Of the various
States and the United States.
The discussion started when Walter 8.
Logan Of New York made a verbal report
from the Committee on Commercial Law. He
commended. the national bankruptcy law.
and then discussed the trust question. He
said it would have to be settled by the law
yers; II they did not, the demagogues would.
he added:
III combinations continue. competition will
cease, and commercial jurispruuence will
eventually be entirely changed. The COM
mittee has reached the unanimous conciu-
SION that modern industrial combinations
should be stayed
Charles +. Henderson OF Nebraska said
the report was calculated to rend the asso-
citation asunder. He asked that the re-
port be read. There was opposition to tho
motion ana considerable confusion.
The convention, however, agreed to hear
the report at once.
On the subject Of trusts, the report says
it is the important question now before the
American bar. 1t says combinations are
rapidly driving out or business the small
dealers and the small producer. These two
classes heretofore have furnished the lar
gest number Of petitioners In bankruptcy
courts, bur now industrial combinations OF
gigantic magnitude too large -Ior \ bank (.
rupicy court 10 manage and too rich 10
need ever be calleo before 1t, have been
substituted. The report adds:-
AIM Is MONOPOLY.
THE modern combinations primary object
Is to control trade anu commerce IN plain
articles OF production, and substitute a more
Or less perfect monopoly In place OF more
or less Tree competition. 1t changes entirely
Inc pasic principle OIL commercial reiAlaonS
Le,w.Sn n,an anu man, anu II they sre 70
commune TO grow anu oeveivp IN lae Iuture
as IN The past will render necess4ry most
important changes IN the prlhcipies OF our
Commercial Jaws. Combination - an ecu
nonlic Iurce is Iast COMING 10 lake the psace
or competition.
'"Ine producers are combining. the trans
portAtio.i companies are combining, traces
men are compinng, workmen, - well ~
employ ers. are combining: everything seems
to De coming into some form OF combine
uon, ana everybody seems TO be z compiner.
The competition that still remains 10 fast
disappearing. Workmcn are refusing TO
compete Tor jobs. Labor unions are en-:
largIng the spheres Of their activity ana
GXtSuQluE their UpetdllOnb,
The union of the employers u AL the
stronger and more far reaching than tho
union Of the workmen.
I'VE are now having combinations Of
Corporation Is a combination OF dozen
heretofore competing producers, who them
selves were combinations OF still other pro-
ducers. and these in turn often COMBINE s
to their beginnings Is like discovering all
the multitude Of sources that 60 to make
up the volume OF the swollen Misasslppi.
per Company now controls was once per-
haps Thousand mining claims, each one
very likely owned in common by half
dozen miners.
COMBINATIONS CONFINED.
1.-THE Experimentation trust has combined
the business of hundreds Of merchants,
some portions of which they acquired by
purchase and others in some other way. 1t
Is estimated that the Standard Oil Com
pany has taken, by contract or by force.
the business of ten thousand corporations
and merchants In all parts of the Union.
The few present great railroad lines OF the
country have been made up by the COM
bination of hundreds Of smaller lines, some
extensions Of one and others competing
lines.
haps the pet project OF the great American
combines, has been to control all the ships
that sail the ocean. A hundred years ago
same individual or corporation, and even
nifty years ago there was scarcely a ship
owner. Individual or corporation that owned
mo one knows but that within the next
ten years greater than ]. Pierpont Nor
gan will arise. who will combine into one
organization all the industries of the land.
SO that the workman who works for wages
can find but one possible employer and the
purchaser of wares but one possible seller.
UNIVERSAL TRUST
The steps toward the formation Of one
universal Industrial corporation. which
shall crowd out all other corporations and
assume TO itself all the industries of the
taken. 1t liz not so far to 60 from now to
the end as We had to 90 to reach present. In
dustrial conditions.
that %0n foP he is esSpos
States Steel Corporation can produce no
matter what It sells them for, it, goods
combination is composed 0a ever 9. n,es ees
them. The Standard on Company Il eco
Ironically holy; for 1t pays % per cent diyi-
correct. for whereas the individual sugar
refners lost money on small capitaiissticn.
the Sugar Trust pays Big dividend on 4
pay. II Mr.. Morssns Slipping trust 1Sa and and
Mr. s sh.x sh!p6SLlanE Trust are fail
1--WE cannot, therefore, rely on natural
forces, on the laws Of supply and demand
or on economic considerations TO uSnjt TIE
growth Of modern combinations. Il. they
lean nation would be better Oh without
them or with limitations put on then. they
must put those limitations on By tn. action
OF their legislatures. their Congress and
their courts. The American bar must act
and the American Bar Association must
take the lead = =
had been allowed to 30 on. the next him.
n follow II would naturally have been 4
United State Securities Company, which
sv raafoaA vhses IL AanesieaNiAsx -.