The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-04-05
DIR. CLARK
ON TRUSTS
First Of Twentieth Course 81
Thomas Lectures at Rich
tnond College.
THE PROBLEM OF MONOPOLY
This Important Question Under
Discussion by Able Speaker
and Publicist. 81

t. q y II 81. g a . B. l .I i
The first OF tho twentieth course OF tho
Thomas lectures was delivered In the
cha pei Of EiChmond CollcEc last evening
BY John Is Clark. PHI. D,.S IL. D.. Pro-
lessor Of ECONOMIES IN Columbia Uni
verslty. Ne,f York.
A cultured attentive and deeply inter-
cstcd audience enjoyed the address OF
tho ablc speaker and distinguished pub
.licst. 81
Tho general theme OF the course. which
will consIt of four lectures, Is Tho
Problem Of Monopoly"
Il Tho introductory lecture OF last night,
and II was intended TO be merely intro
ductory was on '.The Growth OF Cor
porations."
rho lecturer was gracefully and happily
Introduced by pr. Boatwright tho pres-
dent OF the college. The word Intro
duced' Is used here in It's proper mean
ing for Dr.. Boatwright really irtro-
duced the speaker TO his audience and the
audience TO the speaker.
A PHENOMENA.
Or. Clark commenced by referring to
the rise and quarter OF century progress
OF great industrial corporations In this
country as n phenomena Able. but
mistaken, writer's had predicted that cor
pore lions could never attain growth in
q
nounccd tho theory that only such bust
ness as was conducted by the actual
owners could win. In later years j. s.
Mill, another profound thinker, DECLARED
the belief that only a few departments OF
business would ever DO given over TO
corpora ions, and therefore but few cor
porntions could hope to survive against
tho competition Of the individual. Both
OF these distinguished writer's based their
prophecies upon the theory that no busi-
ness managed BY hired officials could
stand against competing business man
aged by the more intensely interested
owner. Nevertheless, 1t now seems to be
tile rule that nothing but corporation
can survive, and only the larger ones OF
that.
The gpe .ker spoke somewhat humorous;
Is Of tho carnivorous propen@ tiles and
habits OF corporanons, and declared tEat
the big animals eat up the fil ~ oneI
ones In these days Of gigantic corpora
tons In ways thatlare new and by&metfl:
dos that arc modern. The old RUE OF
the survival of the fttest has been ab6ro-
saed.' The survivor now Is the competi-
tor who can serve the public with q
gwen article at the lowest price. that
IS to say, Who can produce It al the
least cost. THIS kind OF competition was
La or-sav.ng machinery and Improved
lranspo. ta!ioD laci.ities were the two
- : 80 80 LEssENING THE COST.
we're referred TO- an aa the speaker showed
low. In the master Of sowing, rea ping,
cleaning and baggng wheat, the farmer
of To-Day can do mole than forty lines
days and with traction engines to draw
plows. arr ows, etc, an acre o.. wheat can
DO sown. raised. gathered and sacked at
a cost Of s.. 1t was demonstrated BY
figures, taken from ocean steamship ex,
BY the burning of a half sheet OF noe
paper MIA es sufficient steam TO carry
a ton Of freight a mne. These things led
LasLrally TO the employment OF less
The h.al sep In The process was the
formation OF those things known by US
as trusts.
HOW FORMED.
Tho speaker here reviewed at some
length the process by which the average
rtust Is formed, and comp red the mod %
that America Is tie natu.a, home OF I.
trust. The German karteI, which flour.
ishes also to some extent IN Engia nd. Is
OILY about first cous,n to the AMe.l>all
of the type rool. where agreements were
made among a hundred, more or less,
manufacturers to maintain prices and
terms and prevent over-prod uction. each
maintaining separate eX.s ,ence and con
d uc.ing separate establishments. rms
vas not success. because one violator
of tie contract out Of hundred broke
u, the whole arrangement. Then the
German kartel YVES tired. American law
dlscourageI the kartel combination, and
BY SO doing encouraged the modern trus,
because 1t drove those who wished te
combine to seek another method
CRUSHING OUT RIVALS.
At that pools and knrtels were effective
enough in stopping present sharp com,
petition and stopping over-productlon, ou
they could not. or did not, crush out IN
.apendent rivals To do that It was alb
,iolutely necessary to have a common
purse. The speaker here showed how q
strong trust will invade the limited terri
to y Of a local rival and can WeA altorc
to lose money In twenty cities to ~hlcf
big profits In two hundred other cities
that the local rival cannot reach. Ihis
is the trusts long suit
IF these methods could be stopped 0!
controlled, the trusts have other weapons
prominent among Which is the contro
N